Quarterly report pursuant to Section 13 or 15(d)

REVENUES FROM CONTRACTS WITH CUSTOMERS

v3.23.2
REVENUES FROM CONTRACTS WITH CUSTOMERS
 6 Months Ended
Jun. 30, 2023
REVENUES FROM CONTRACTS WITH CUSTOMERS  
REVENUES FROM CONTRACTS WITH CUSTOMERS

NOTE 16. REVENUES FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Net Revenues

The Company’s net product revenues are summarized as follows:

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Three-Month Periods Ended June 30, 

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Six-Month Periods Ended June 30, 

($ in thousands)

    

2023

    

2022

    

2023

    

2022

Qbrexza®

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$

8,079

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$

6,111

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$

12,173

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$

13,487

Accutane®

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5,579

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5,200

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10,227

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10,107

Amzeeq®

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​

1,374

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​

1,265

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​

2,568

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​

4,731

Zilxi®

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​

572

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555

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​

886

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​

1,297

Targadox®

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​

664

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2,756

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1,457

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5,390

Exelderm®

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538

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1,313

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1,049

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2,017

Ximino®

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​

155

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1,035

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​

766

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​

2,002

Total product revenues

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$

16,961

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$

18,235

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$

29,126

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$

39,031

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The above table includes the authorized generic product within the line items for Targadox®, Ximino® and Exelderm®.

Significant Customers

For the three and six-month periods ended June 30, 2023 and 2022, there were no customers that accounted for more than 10% of the Company’s total gross product revenue.

At June 30, 2023, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 22.0% and 17.3%. At December 31, 2022, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 16.7% and 10.4%.

Other Revenue

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Three-Month Periods Ended June 30,

    

Six-Month Periods Ended June 30,

($ in thousands)

    

2023

    

2022

    

2023

    

2022

Other revenue

 

$

211

 

$

56

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$

259

 

$

2,556

Total other revenue

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$

211

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$

56

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$

259

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$

2,556

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Other revenue reflects royalties on sales of Rapifort® Wipes 2.5% in Japan, from Maruho Co., LTD. (“Maruho”), the Company’s exclusive out-licensing partner in Japan. Other revenue for the six-month period ended June 30, 2022 also reflects a net $2.5 million milestone payment from Maruho. In January 2022, Maruho received manufacturing and marketing approval in Japan for Rapifort® Wipes 2.5% (Japanese equivalent to U.S. FDA approved QBREXZA®), for the treatment of primary axillary hyperhidrosis, triggering the net payment.