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Description of Business and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2025

Accounting Policies [Abstract]

Schedule of Segment Revenues and Significant Expense Categories in Consolidated Statements of Operations

The table below shows the details of the Company’s segment revenues and significant expense categories regularly provided to and reviewed by the CODM as well as other significant segment items included in consolidated net income in the condensed consolidated statements of operations:

		Three Months Ended September 30,								Nine Months Ended September 30,
Revenues		2025				2024				2025				2024
Afrezza		$	18,493			$	15,035			$	51,709			$	45,762
V-Go			3,812				4,693				12,023				13,510
Collaborations and services			26,506				23,268				78,727				74,130
Royalties			33,319				27,083				94,552				75,326
Total revenues			82,130				70,079				237,011				208,728
Less significant segment expenses (income):
Cost of goods sold – commercial			4,498				3,197				12,873				12,621
Cost of revenue – collaborations and services			15,705				14,826				45,414				44,377
Research and development			14,063				12,926				38,760				34,755
Selling			14,694				13,093				43,335				36,189
General and administrative			14,394				10,823				42,389				34,168
Interest income, net			(2,628	)			(3,179	)			(6,416	)			(9,790	)
Interest expense, net			7,334				8,360				24,157				30,500
Impairment of available-for-sale investment			6,409				—				6,409				1,550
Loss on settlement of debt			—				—				—				7,050
Other segment items(1)			(324	)			(1,517	)			8,279				(2,858	)
Consolidated net income		$	7,985			$	11,550			$	21,811			$	20,166

_________________________

(1) Includes (gain) loss on foreign currency transaction, loss on settlement of debt, loss on available-for-sale securities and income tax (benefit) expense.

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

The Company’s net revenue 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 September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Net revenue:
Product revenue (1)		$	48,274			$	42,959			$	140,743			$	132,945
Services (2)			537				37				1,716				457
Royalties (3)			33,319				27,083				94,552				75,326
Total net revenue		$	82,130			$	70,079			$	237,011			$	208,728

_________________________

(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. See Note 9 – Collaborations, Licensing and Other Arrangements.

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

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- References

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
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-Name Accounting Standards Codification
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