Company: PCRX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001396814-25-000061
Chunk: 133

Company: Pacira BioSciences, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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, specialty distributors, specialty pharmacies and individual physicians. Payment terms generally range from zero to four months from the date of the transaction, and accordingly, there is no significant financing component.Performance ObligationsA performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in Accounting Standards Codification 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied.At contract inception, the Company assesses the goods promised in its contracts with customers and identifies a performance obligation for each promise to transfer to the customer a good that is distinct. When identifying individual performance obligations, the Company considers all goods promised in the contract regardless of whether explicitly stated in the customer contract or implied by customary business practices. The Company’s contracts with customers require it to transfer an individual distinct product, which represents a single performance obligation. The Company’s performance obligation with respect to its product sales is satisfied at a point in time, which transfers control upon delivery of EXPAREL and ZILRETTA to its customers. The Company considers control to have transferred upon delivery because the customer has legal title to the asset, physical possession of the asset has been transferred, the customer has significant risks and rewards of ownership of the asset and the Company has a present right to payment at that time.

Pacira BioSciences, Inc.  |  Q1 2025 Form 10-Q  |  Page 13

Disaggregated RevenueThe following table represents disaggregated net product sales in the periods presented as follows (in thousands):Three Months EndedMarch 31,20252024Net product sales:   EXPAREL$136,529 $132,430    ZILRETTA23,338 25,839    iovera°5,123 5,030    Bupivacaine liposome injectable suspension2,604 2,525       Total net product sales$167,594 $165,824 

NOTE 5—INVENTORIES

The components of inventories, net are as follows (in thousands):March 31,December 31,20252024Raw materials$45,890 $50,800 Work-in-process32,280 27,384 Finished goods55,584 47,098      Total$133,754 $125,282 

NOTE 6—FIXED ASSETS

Fixed