Annual report pursuant to Section 13 and 15(d)

REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

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REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS
12 Months Ended
Dec. 31, 2022
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS  
REVENUES FROM CONTRACTS AND SIGNIFICANT CUSTOMERS

NOTE 17. REVENUES FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Net Revenues

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

Revenues by product are summarized as follows:

    

Year Ended December 31, 

($ in thousands)

    

2022

    

2021

Qbrexza®

$

26,715

$

17,056

Accutane®

18,373

10,053

Targadox®

7,972

22,378

Amzeeq®

7,242

Ximino®

 

4,957

 

8,247

Zilxi®

 

2,273

 

Exelderm®

 

3,463

 

5,363

Other branded revenue

 

 

37

Total product revenues

$

70,995

$

63,134

The Company recognized other revenue as follows:

    

Year Ended December 31,

($in thousands)

2022

    

2021

Other revenue

 

$

2,674

$

Total other revenue

$

2,674

$

Other revenue for the year ended December 31, 2022 included a net $2.5 million milestone payment from Maruho Co., Ltd, upon receipt of marketing and manufacturing approval for Rapifort® Wipes 2.5% (Qbrexza®), as well as $0.2 million in royalties from Maruho on sales of Rapifort® Wipes 2.5% in Japan.

Significant Customers

As of 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%. As of December 31, 2021, two of the Company’s customers accounted for more than 10% of its total accounts receivable balance at 16.3% and 12.9%.

For the year ended December 31, 2022 and 2021, none of the Company’s customers accounted for more than 10% of its total gross product revenue.