Quarterly report [Sections 13 or 15(d)]

REVENUES FROM CONTRACTS WITH CUSTOMERS

v3.25.3
REVENUES FROM CONTRACTS WITH CUSTOMERS
9 Months Ended
Sep. 30, 2025
REVENUES FROM CONTRACTS WITH CUSTOMERS  
REVENUES FROM CONTRACTS WITH CUSTOMERS

NOTE 15. REVENUES FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Net Revenues

The Company has the following actively marketed products: EmrosiTM, Qbrexza®, Amzeeq®, Zilxi®, Accutane®, Exelderm®, Targadox®, and Luxamend®. All of the Company’s product revenues are recorded in the U.S.

Revenues by product are summarized as follows:

Three-Month Periods Ended September 30, 

Nine-Month Periods Ended September 30, 

($ in thousands)

    

2025

    

2024

    

2025

    

2024

EmrosiTM

$

4,883

$

$

9,748

$

Qbrexza®

7,361

7,583

19,470

19,435

Accutane®

 

2,769

 

3,996

 

9,818

 

15,534

Foam franchise products (Amzeeq® & Zilxi®)

1,311

2,100

3,973

4,703

Other / legacy

701

950

2,164

2,842

Total product revenues

$

17,025

$

14,629

$

45,173

$

42,514

The Company recognized other revenue as follows:

Three-Month Periods Ended September 30,

Nine-Month Periods Ended September 30,

($ in thousands)

    

2025

    

2024

    

2025

    

2024

Cutia supply of Amzeeq

$

606

$

$

606

$

Total other revenues

$

606

$

$

606

$

Other revenue for the three and nine-month periods ended September 30, 2025 reflects the supply Amzeeq sold to Cutia pursuant to the Cutia Agreement. In August 2025, the Company began supplying Cutia with finished licensed products for Cutia’s commercial use. The Company recorded $0.6 million in Other revenue associated with the supply of Amzeeq to Cutia. See note 6 to the consolidated financial statements for further details on the Cutia Agreement.

Significant Customers

For the three and nine-month periods ended September 30, 2025 and 2024 there were no customers that accounted for more than 10% of the Company’s total gross product revenue.

At September 30, 2025, none of the Company’s customers accounted for more than 10% of its total accounts receivable balance. At December 31, 2024, one of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 10.3%.