Quarterly report pursuant to Section 13 or 15(d)

REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

v3.22.2.2
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS
 9 Months Ended
Sep. 30, 2022
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS  
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

NOTE 18. REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

Disaggregation of Net Revenues

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three-Month Periods Ended

    

Nine-Month Periods Ended

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​

September 30, 

​

September 30, 

($ in thousands)

    

2022

    

2021

    

2022

    

2021

Qbrexza®

​

$

6,265

​

$

6,636

​

$

19,752

​

$

11,204

Accutane®

​

 

4,121

​

 

3,531

​

 

14,228

​

 

5,672

Amzeeq

​

​

1,161

​

​

—

​

​

5,892

​

​

—

Targadox®

​

​

1,168

​

​

5,184

​

​

6,558

​

​

18,110

Ximino®

​

​

1,773

​

​

2,864

​

​

3,775

​

​

6,277

Zilxi

​

​

554

​

​

—

​

​

1,851

​

​

—

Exelderm®

​

 

1,001

​

 

1,366

​

 

3,018

​

 

4,319

Other branded revenue

​

 

—

​

 

29

​

 

—

​

 

35

Total product revenues

​

$

16,043

​

$

19,610

​

$

55,074

​

$

45,617

​

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

Significant Customers

For the three-month period ended September 30, 2022, there were no customers that accounted for more than 10% of the Company’s total gross product revenue. For the three-month period ended September 30, 2021, there was one customer that accounted for more than 10% of the Company’s total gross product revenue. For the nine-month periods ended September 30, 2022 and 2021, there were no customers that accounted for more than 10% of the Company’s total gross product revenue.

At September 30, 2022, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 17% and 11%. At December 31, 2021, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 16% and 13%.

Other Revenue

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three-Month Periods Ended

 

Nine-Month Periods Ended

​

​

September 30, 

 

September 30, 

($ in thousands)

    

2022

    

2021

    

2022

    

2021

Other revenue

 

​

73

 

​

—

​

​

2,629

 

​

—

Total other revenue

​

$

73

​

$

—

​

$

2,629

​

$

—

​

Other revenue for the three-month period ended September 30, 2022 reflects a royalty payment from the Company’s exclusive out-licensing partner in Japan, Maruho Co., Ltd (“Maruho”). The nine-month period ended September 30, 2022 includes 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%, triggering the net payment. The net payment reflects a milestone payment of $10.0 million to the Company from Maruho, offset by a $7.5 million payment to Dermira, Inc., pursuant to the terms of the Qbrexza Agreement between the Company and Dermira. The nine-month period ended September 30, 2022 also reflects total year-to-date a royalties of $129,000 from Maruho.