ACADIA PHARMACEUTICALS INC Segments Disclosure
11. Segment Reporting
In accordance with FASB ASC Topic 280, Segment Reporting, management has determined that the Company operates in one business segment which is the development and commercialization of innovative medicines. Substantially all revenues for the years ended December 31, 2025, 2024, and 2023 were generated from customers in North America.
The Company’s CODM is the CEO who uses the consolidated statement of operations to make decisions about allocating resources and assessing performance for the entire Company. Managing and allocating resources on a consolidated basis enables the CODM to assess the overall level of resources available and how to best deploy these resources across functions and research and development programs that are in line with the Company’s long-term company-wide strategic goals.
The key areas of focus by CODM for allocation of resources are revenues from each product, as well as operating expenses (cost of goods sold, license fees and royalties, research and development expense, selling, general and administrative expense, and other income or loss). While the CODM analyzes these categories, the area of focus is period over period fluxes and budget-to-actual variances to determine the right allocation of resources is attributed to the segment in order to ensure profitability is maximized.
The following table illustrates reported segment revenue, segment profit and significant segment expenses (in thousands):
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
NUPLAZID net revenue |
|
$ |
680,086 |
|
|
$ |
609,385 |
|
|
$ |
549,248 |
|
DAYBUE net revenue |
|
|
391,419 |
|
|
|
348,412 |
|
|
|
177,189 |
|
Total revenues |
|
|
1,071,505 |
|
|
|
957,797 |
|
|
|
726,437 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Cost of goods sold |
|
|
35,840 |
|
|
|
30,068 |
|
|
|
19,826 |
|
License fees and royalties |
|
|
53,158 |
|
|
|
51,773 |
|
|
|
21,812 |
|
Research and development expense |
|
|
|
|
|
|
|
|
|
|||
External research and development |
|
|
220,071 |
|
|
|
194,539 |
|
|
|
170,036 |
|
Internal costs(1) |
|
|
96,731 |
|
|
|
74,210 |
|
|
|
79,083 |
|
Upfront and milestone payments |
|
|
12,000 |
|
|
|
34,500 |
|
|
|
102,500 |
|
Total research and development expense |
|
|
328,802 |
|
|
|
303,249 |
|
|
|
351,619 |
|
Selling, general and administrative |
|
|
548,894 |
|
|
|
488,428 |
|
|
|
406,559 |
|
Gain on sale of non-financial asset |
|
|
— |
|
|
|
(146,515 |
) |
|
|
— |
|
Interest income, net |
|
|
(31,722 |
) |
|
|
(25,458 |
) |
|
|
(17,234 |
) |
Other income |
|
|
(2,371 |
) |
|
|
(1,823 |
) |
|
|
(5,109 |
) |
Income tax expense |
|
|
(252,096 |
) |
|
|
31,624 |
|
|
|
10,250 |
|
Consolidated net income |
|
$ |
391,000 |
|
|
$ |
226,451 |
|
|
$ |
(61,286 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.