Company: IMCR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001671927-25-000014
Chunk: 23

Company: Immunocore Holdings plc
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 each relevant expense caption. Also required is a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated. This ASU is effective for all public entities for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, and early adoption is permitted. This ASU should be applied either prospectively to financial statements issued after the effective date of this update or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating these new disclosure requirements and the impact of adoption on its financial statements.

3. Revenue

During the three and six months ended June 30, 2025, the Company recognized $98.0 million and $191.8 million, respectively (2024: $75.3 million and $145.7 million, 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 June 30,Six Months Ended June 30,2025202420252024United States$64,087 $55,606 $120,694 $105,632 Europe33,042 15,404 65,846 34,356 International835 4,337 5,305 5,701 Revenue from sale of therapies, net$97,964 $75,347 $191,845 $145,689 Revenue from sale of therapies, net for the three and six months ended June 30, 2025 included $5.2 million and $12.6 million, respectively (2024: $5.0 million and $7.2 million, respectively), of partnered revenue pursuant to the Company's separate agreements with Medison Pharma Ltd. ("Medison") and Er-Kim Pharmaceuticals Bulgaria EOOD ("Er-Kim"). Revenue from these agreements is allocated between the Company's European and international markets.Accounts receivable from contracts with customersAccounts receivable as of June 30, 2025 and December 31, 2024 were $69.8 million