Factoring agreement	3 Months Ended
Factoring agreement	Mar. 31, 2025
Receivables [Abstract]
Factoring agreement	Factoring agreement The Company sells rights to future revenues associated with invoices issued upon delivery of drug product to QTCs. The Company sells 100% of the invoice, and the upfront purchase price is 90% of the invoice amount. The remaining 10%, less applicable fees, is payable to the Company when the factor receives full payment from the customer. The upfront payments are treated as a short-term liability, presented as due to factor on the Company's consolidated balance sheets until infusion when the right to consideration from the customer is deemed unconditional. The remaining invoice amount payable to the Company at infusion is considered a beneficial interest in the factored invoice and represents the extent of our continued involvement in the sale of invoices. Due to Factor For the three months ended March 31, 2025 and 2024, the Company collected $54.7 million and $15.1 million, respectively, in cash receipts prior to an unconditional right to consideration and de-recognized $41.7 million and $15.1 million, respectively, of due to factor amounts as a result of patient drug product infusions. Amounts presented as due to factor on the condensed consolidated balance sheets would be subject to payment based on the repurchase requirements that exist prior to the infusion date in the factoring agreement. Due from Factor For the three months ended March 31, 2025 and 2024, the company obtained $4.6 million and $1.6 million, respectively, of beneficiary interest in invoices and de-recognized $4.9 million and $1.1 million, respectively, in beneficiary interest in invoices. Uncollected amounts presented as due from factor on the consolidated balance sheets are net of accrued fees of $0.3 million and $0.1 million, at March 31, 2025 and 2024, respectively. The maximum loss exposure is $3.2 million and $1.1 million at March 31, 2025 and 2024, respectively. The total loss from the sale of customer invoices is estimated on the patient infusion date of the drug product and was $1.2 million and $0.3 million, respectively, for the three months ended March 31, 2025 and 2024. In addition to the loss from the sale of invoices, the Company has incurred $0.2 million and $0.4 million, respectively, in servicing fees for the three months ended March 31, 2025 and 2024.

bluebird bio, Inc. 10-Q