XML 22 R10.htm IDEA: XBRL DOCUMENT v3.22.1
Revenue Recognition
 9 Months Ended
Mar. 31, 2022
Revenue Recognition  
Revenue Recognition

4. Revenue Recognition

Contract Balances. Contract liabilities primarily relate to advances or deposits received from the Company’s customers before revenue is recognized. As of March 31, 2022 and June 30, 2021, contract liabilities of $0.1 million and $0.2 million, respectively were included in accrued liabilities in the consolidated balance sheet.

The Company disaggregates its revenue into three product portfolios. The primary care portfolio is composed of ZolpiMist and Tuzistra. The pediatric portfolio is composed of Adzenys XR-ODT, Cotempla XR-ODT Poly-Vi-Flor, Tri-Vi-Flor, Karbinal ER and a generic Tussionex. The Consumer Health portfolio is composed of over twenty consumer health products competing in large healthcare categories.

As part of the realization of post-acquisition synergies and product prioritization, the Company has implemented a portfolio rationalization plan whereby it will discontinue or divest non-core products including Cefaclor, Flexichamber, Tussionex, Tuzistra XR, and Zolpimist, effectively eliminating the primary care portfolio. These products, collectively, contributed $1.7 million in net revenue and $0.6 million in gross loss during the nine months ended March 31, 2022 (see Note 8 – Goodwill and Other Intangible Assets).

Revenues by Product Portfolio. Net revenue disaggregated by significant product portfolio for the three and nine months ended March 31, 2022 and 2021 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

March 31, 

​

March 31, 

​

    

2022

    

2021

    

2022

    

2021

​

​

​

​

​

​

​

​

(In thousands)

Primary care portfolio

 

$

272

 

$

1,209

 

$

889

 

$

8,339

Pediatric portfolio

​

​

13,590

​

​

3,918

​

​

41,499

​

​

9,752

Consumer Health portfolio

​

​

10,337

​

​

8,356

​

​

26,833

​

​

24,059

Consolidated revenue

 

$

24,199

 

$

13,483

 

$

69,221

 

$

42,150

​

​

Revenues by Geographic location. The following table reflects the Company’s product revenues by geographic location as determined by the billing address of customers:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

    

Nine Months Ended

​

​

March 31, 

​

March 31, 

​

    

2022

    

2021

    

2022

    

2021

​

​

​

​

​

​

​

​

(In thousands)

U.S.

​

$

23,755

​

$

12,344

​

$

67,408

​

$

38,245

International

​

 

444

​

 

1,139

​

 

1,813

​

 

3,905

Total net revenue

​

$

24,199

​

$

13,483

​

$

69,221

​

$

42,150

​