LICENSE, COLLABORATION AND OTHER REVENUE (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revenues Recognized from License, Collaboration and Other Significant Agreements

The Company recognized the following revenue from its license, collaboration and other revenue agreements (in thousands):


		Three Months Ended March 31,
Entity	Description	2026		2025
Medice	License and royalties related to the sale of Vafseo in the EU	$	32	$	7
TPC	License and Product Supply of Vafseo in Japan	341		369
JT and Torii	License and royalties related to the sale of Riona in Japan	1,179		1,169
Total license and other revenue		$	1,552	$	1,545

Schedule of Changes in Contract Assets and Liabilities

The following tables present changes in the Company’s contract assets and liabilities related to the Company's sales to its AG Distributor (in thousands):


	Three Months Ended March 31, 2026
	Balance at Beginning of Period		Additions		Deductions		Balance at End of Period
Contract assets:
Accounts receivable	$	194	$	—	$	—	$	194
Contract liabilities:
Deferred revenue	$	2,681	$	4,826	$	(3,011)	$	4,496

	Three Months Ended March 31, 2025
	Balance at Beginning of Period		Additions		Deductions		Balance at End of Period
Contract assets:
Accounts receivable	$	—	$	1,241	$	—	$	1,241
Contract liabilities:
Deferred revenue	$	—	$	1,241	$	—	$	1,241

The Company recognized the following revenues related to the Company's sales to its AG Distributor as a result of changes in the contract asset and contract liability balances in the respective periods (in thousands):


	Three Months Ended March 31,
Revenue Recognized in the Period:	2026		2025
Deferred revenue — beginning of the period	$	3,011	$	—

The following tables present changes in the Company’s contract assets and liabilities related to license and other revenue (in thousands):


	Three Months Ended March 31, 2026
	Balance at Beginning of Period		Additions		Deductions		Balance at End of Period
Contract asset:
Accounts receivable(1)	$	2,391	$	1,552	$	(2,282)	$	1,661



	Three Months Ended March 31, 2025
	Balance at Beginning of Period		Additions		Deductions		Balance at End of Period
Contract assets:
Accounts receivable(1)	$	2,010	$	1,545	$	(1,989)	$	1,566

(1) Excludes accounts receivable related to amounts due to the Company from product sales of Auryxia and Vafseo which are included in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2026 and 2025.

Schedule of Revenue Recognized Resulting from Changes in Contract Assets and Contract Liabilities

The Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods (in thousands):


	Three Months Ended March 31,
Revenue Recognized in the Period:	2026		2025
Deferred revenue — beginning of the period	$	—	$	—

Akebia Therapeutics, Inc. 10-Q