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Description of Business and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Summary of Revenue and Cost of Revenue and Goods Sold Generated From Product Sales, Services and Royalties

The Company’s net revenue and cost of revenue and goods sold as shown on the condensed consolidated statement of operations is comprised of revenue generated from product sales, services and royalties as shown below (in thousands):


	Three Months Ended March 31,
	2024		2023
Net revenue:
Product revenue (1)	$	43,228	$	28,726
Services (2)		384		222
Royalties (3)		22,651		11,678
Total net revenue	$	66,263	$	40,626

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(1)

Amounts represent the revenue from Afrezza and V-Go sales to wholesalers and specialty pharmacies and Tyvaso DPI to UT.

(2)

Amounts represent revenue generated from the Company's collaboration arrangements, including Next-Gen R&D Services (as defined in Note 9) for UT as well as arrangements with other collaboration partners. See Note 9 – Collaboration, Licensing and Other Arrangements.

(3)

Amounts represent royalties on UT’s net revenue from Tyvaso DPI sales.


	Three Months Ended March 31,
	2024		2023
Cost of goods sold and cost of revenue:
Product revenue	$	18,598	$	16,028
Services		—		185
Total cost of goods sold and cost of revenue	$	18,598	$	16,213