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Segment, Geographic and Other Revenue Information | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment, Geographic and Other Revenue Information | 2. Segment, Geographic and Other Revenue Information The Company operates in a single operating and reportable segment for all periods presented and the CEO has been identified as the chief operating decision maker (“CODM”). The CODM uses income from operations to measure the profitability of the segment. These amounts are reported on the Condensed Consolidated Statements of Operations. The measure of segment assets is reported on the Condensed Consolidated Balance Sheets as total consolidated assets. The financial data provided to the CODM is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
US: |  |  |  |  |  |  |  |
SUBLOCADE* |  | $ | 195 |  |  | $ | 179 |  |  | $ | 359 |  |  | $ | 346 |
Sublingual & other |  | 52 |  | 63 |  | 107 |  | 126
PERSERIS 1 |  | 8 |  | 13 |  | 12 |  | 23
Total U.S. |  | 256 |  | 255 |  | 478 |  | 496
Rest of World |  | 46 |  | 44 |  | 90 |  | 87
Net revenue |  | 302 |  |  | 299 |  |  | 568 |  |  | 583 |
Cost of sales |  | 52 |  |  | 79 |  |  | 96 |  |  | 117 |
Gross profit |  | 250 |  |  | 220 |  |  | 472 |  |  | 466 |
Operating expenses: |  |  |  |  |  |  |  |
Selling and marketing |  | 80 |  | 66 |  | 147 |  | 132
General and administrative |  | 78 |  | 86 |  | 142 |  | 163
Total selling, general and administrative |  | 158 |  |  | 152 |  |  | 290 |  |  | 295 |
Research and development |  | 21 |  |  | 26 |  |  | 43 |  |  | 54 |
Litigation settlement |  | — |  |  | 160 |  |  | 1 |  |  | 160 |
Total operating expenses |  | 178 |  |  | 338 |  |  | 334 |  |  | 509 |
Operating income (loss) |  | 72 |  |  | (118) |  |  | 138 |  |  | (43) |
Other (income) and expenses: |  |  |  |  |  |  |  |
Interest (income) |  | (6) |  |  | (6) |  |  | (10) |  |  | (13) |
Interest expense |  | 15 |  |  | 9 |  |  | 27 |  |  | 18 |
Income (loss) before income taxes |  | 62 |  |  | (121) |  |  | 121 |  |  | (48) |
Income tax expense (benefit) |  | 44 |  |  | (23) |  |  | 56 |  |  | (12) |
Net income (loss) |  | $ | 18 |  |  | $ | (97) |  |  | $ | 65 |  |  | $ | (36) |
*Total SUBLOCADE net revenue |  | $ | 209 |  |  | $ | 192 |  |  | $ | 385 |  |  | $ | 371 |
Depreciation and amortization |  | $ | 3 |  |  | $ | 4 |  |  | $ | 5 |  |  | $ | 7 |
Share-based compensation expense |  | $ | 8 |  |  | $ | 6 |  |  | $ | 14 |  |  | $ | 12 |
1 Marketing and promotion activities for PERSERIS were discontinued in July 2024. Significant segment expenses within net income (loss) include cost of sales, selling and marketing, general and administrative, research and development, and litigation settlement at the consolidated level. Other segment items within net income (loss) include interest (income), interest expense, and income tax expense (benefit). Our CODM is also regularly provided depreciation and amortization and share-based compensation expense, both of which are presented above and are recorded within cost of sales and selling, general and administrative expenses. Revenue recognized from performance obligations satisfied in previous periods was $26 million and $45 million in the three and six months ended June 30, 2025 and $16 million and $23 million during the three and six months ended June 30, 2024, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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