Kiniksa Pharmaceuticals International, plc Revenue Disclosure
4. Product Revenue, Net
ARCALYST
The Company derives substantially all of its product revenue, net from sales of ARCALYST in the United States, which was as follows:
Years Ended | |||||||||
December 31, | |||||||||
2025 | 2024 | 2023 | |||||||
Product Revenue, net | $ | 677,564 | $ | 417,029 | $ | 233,176 | |||
The following tables summarizes balances and activity in each of the product revenue allowance and reserve categories for the years ended December 31, 2025 and 2024:
Contractual | Government | |||||||||||
Adjustments | Rebates | Returns | Total | |||||||||
Balance at December 31, 2024 | $ | 3,495 | $ | 8,640 | $ | 2,294 | $ | 14,429 | ||||
Current provisions relating to sales in the current year | 36,209 | 26,882 | 1,704 | 64,795 | ||||||||
Adjustments relating to prior years | — | (2,306) | (718) | (3,024) | ||||||||
Payments/returns relating to sales in the current year | (31,650) | (15,995) | — | (47,645) | ||||||||
Payments/returns relating to sales in the prior years | (3,495) | (5,338) | (156) | (8,989) | ||||||||
Balance at December 31, 2025 | $ | 4,559 | $ | 11,883 | $ | 3,124 | $ | 19,566 | ||||
Contractual | Government | |||||||||||
Adjustments | Rebates | Returns | Total | |||||||||
Balance at December 31, 2023 | $ | 2,022 | $ | 3,775 | $ | 341 | $ | 6,138 | ||||
Current provisions relating to sales in the current year | 24,738 | 18,436 | 1,296 | 44,470 | ||||||||
Adjustments relating to prior years | (31) | (155) | 836 | 650 | ||||||||
Payments/returns relating to sales in the current year | (21,277) | (9,796) | — | (31,073) | ||||||||
Payments/returns relating to sales in the prior years | (1,957) | (3,620) | (179) | (5,756) | ||||||||
Balance at December 31, 2024 | $ | 3,495 | $ | 8,640 | $ | 2,294 | $ | 14,429 | ||||
Total revenue-related reserves as of December 31, 2025 and 2024, included in the Company’s consolidated balance sheets, are summarized as follows:
December 31, | December 31, | |||||
2025 | 2024 | |||||
Reduction of accounts receivable | $ | (831) | $ | (444) | ||
Components of other current liabilities | 20,397 | 14,873 | ||||
Total revenue-related reserves | $ | 19,566 | $ | 14,429 | ||
pl
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Mar 2, 2023 | |
| 2021 | Feb 24, 2022 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.