Company: IMCR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001671927-25-000009
Chunk: 24

Company: Immunocore Holdings plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
,607 $50,026 Europe32,804 18,952 International4,470 1,364 Revenue from sale of therapies, net$93,881 $70,342 Revenue from sale of therapies, net for the three months ended March 31, 2025 includes $7.3 million (2024: $2.2 million), of partnered revenue under the Company's agreement with Medison Pharma Ltd. ("Medison"), and such revenue is split between its European and international markets.Accounts receivable from contracts with customersAccounts receivable as of March 31, 2025 and December 31, 2024 were $63.1 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 March 31, 2025 and December 31, 2024 were immaterial.Accruals for rebates, chargebacks and returnsCurrent and non-current accruals for rebates, chargebacks and returns as of March 31, 2025 were as follows (in thousands): RebatesChargebacksReturnsTotalAs of December 31, 2024$108,521 $2,038 $365 $110,924 Provisions related to sales in the period30,983 8,542 2,771 42,296 Adjustments related to sales in prior periods(5,983)— — (5,983)Credits and payments made(14,828)(8,805)(2,310)(25,943)As of March 31, 2025$118,693 $1,775 $826 $121,294     

8

Included in the above are non-current accruals for rebates, chargebacks and returns of $61.8 million and $0 million as of March 31, 2025 and December 31, 2024, respectively, which are not required to be paid in the twelve months from the balance sheet date following additional information received in the three months ended March 31, 2025. The adjustments related to prior period sales in the period ended March 31, 2025 were due to changes in estimates primarily related to European pricing negotiations.Deferred revenue

Non-current deferred revenue as of March 31, 202