Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

v3.21.2
Revenue (Tables)
9 Months Ended
Sep. 30, 2021
Revenue From Contract With Customer [Abstract]  
Summary of Activity in Each of Product Revenue Provision and Allowance Categories

The following table summarizes activity in each of the Company’s product revenue provision and allowance categories as of September 30, 2021 (in thousands):

 

 

 

Discounts and Chargebacks (1)

 

 

Product Returns (2)

 

 

Rebates and Incentives (3)

 

 

Total

 

Balance as of December 31, 2020

 

$

 

 

$

 

 

$

 

 

$

 

Provision related to current period revenue

 

 

423

 

 

 

12

 

 

 

1,461

 

 

 

1,896

 

Changes in estimate related to prior period revenue

 

 

 

 

 

 

 

 

 

 

 

 

Credit/payments

 

 

(70

)

 

 

 

 

 

(333

)

 

 

(403

)

Balance as of September 30, 2021

 

$

353

 

 

$

12

 

 

$

1,128

 

 

$

1,493

 

 

(1)

Discounts and chargebacks include fees for wholesaler fees, prompt pay and other discounts, and chargebacks. Discounts and chargebacks are deducted from gross revenue at the time revenues are recognized and are included as a reduction in accounts receivable or as an accrued expense based on their nature on the Company’s unaudited condensed consolidated balance sheet.

(2)

Provisions for product returns are deducted from gross revenues at the time revenues are recognized and are included in accrued expenses on the Company’s unaudited condensed consolidated balance sheet.

(3)

Rebates and incentives include rebates and co-pay program incentives.  Provisions for rebates and incentives are deducted from gross revenues at the time revenues are recognized and are included in accrued expenses on the Company’s unaudited condensed consolidated balance sheets.