Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 346

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 346
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. As of June 30, 2025, the Company did not have any contract assets.Liabilities associated with sales deductions are included in accrued expenses and other current liabilities or in other liabilities on the accompanying unaudited condensed consolidated balance sheets depending on contractual settlement timelines.The following table represents total revenues and disaggregates Product sales, net by approved medicine (in thousands): Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Product sales, net:  Livmarli$88,160 $47,231 $161,384 $90,076 Bile Acid Medicines39,625 30,529 77,986 56,601 Total product sales, net127,785 77,760 239,370 146,677 License and other revenue— 115 — 420 Total revenues$127,785 $77,875 $239,370 $147,097 

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The following table sets forth Product sales, net by geographic area based on the ship-to location (in thousands): Three Months Ended June 30,Six Months Ended June 30, 2025202420252024United States$95,532 $65,080 $182,454 $121,191 Rest of the world32,253 12,680 56,916 25,486 Total product sales, net$127,785 $77,760 $239,370 $146,677 Revenue recognized in the three and six months ended June 30, 2025 from performance obligations satisfied in previous periods amounted to $11.0 million due to change in the estimated variable consideration.Foreign CurrencyThe unaudited condensed consolidated financial statements are presented in U.S. dollars. The functional currency for most of the Company’s foreign subsidiaries is their local currency. Balance sheet accounts of international subsidiaries are translated at the current exchange rates as of the end of each accounting period. Income statement items are translated at average exchange rates for the period. The resulting translation adjustments are recorded as a separate component of stockholders’ equity.Foreign currency transaction gains and losses are included in other income (expense), net in the unaudited condensed consolidated statements of operations. Transaction gains and losses result primarily from fluctuations in exchange rates when intercompany receivables and payables are denominated in currencies other than the functional currency of our subsidiary that recorded the transaction. Unrealized foreign exchange gains amounted to