Company: IMCR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001671927-25-000018
Chunk: 58

Company: Immunocore Holdings plc
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 respectively) of net revenue from sale of therapies relating to the sale of KIMMTRAK primarily in the United States and Europe after estimated deductions for rebates, chargebacks and returns, which are recognized in Accrued expenses and other current liabilities and Accrued expenses, non-current, as set out in the Company’s accounting policies included in the Annual Report.Revenue from sale of therapies, net is presented by country / region based on the location of the end customer below (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024United States$67,300 $57,268 $187,994 $162,900 Europe33,526 21,098 99,372 55,454 International2,867 1,882 8,172 7,583 Revenue from sale of therapies, net$103,693 $80,248 $295,538 $225,937 Revenue from sale of therapies, net for the three and nine months ended September 30, 2025 included $6.2 million and $18.8 million, respectively (2024: $2.8 million and $10.1 million, respectively), of partnered revenue pursuant to the Company's separate agreements with Medison Pharma Ltd. ("Medison") and Er-Kim Pharmaceuticals Bulgaria EOOD. Revenue from these agreements is allocated between the Company's European and International markets.Accounts receivable from contracts with customersAccounts receivable as of September 30, 2025 and December 31, 2024 were $75.9 million and $63.0 million, respectively. An allowance for lifetime expected credit losses on accounts receivable is measured using historical credit loss experience, conditions at the end of each reporting period, and reasonable and supportable forecasts that affect collectability. Expected credit losses as of September 30, 2025 and December 31, 2024 were immaterial.Accruals for rebates, chargebacks and returnsCurrent and non-current accruals for rebates, chargebacks and returns as of September 30, 2025 were as follows (in thousands): RebatesChargebacksReturnsTotalAs of December 31, 2024$108,521 $2,038 $365 $110,924 Provisions related to sales in the period115,128 30,158 9,084 154,370 Adjustments related to sales in prior periods