Innoviva, Inc.

Listed Company

INVACIK 0001080014NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$411.33M

Net Income

$271.17M

Total Assets

—

Equity

—

Shares Out

73.81M

Op. Cash Flow

$196.93M

Business

Innoviva, Inc. operates a healthcare-focused business centered on a core royalties portfolio, a critical care and infectious disease platform called Innoviva Specialty Therapeutics (IST), and strategic investments in other healthcare assets. It derives revenue from royalties on partnered respiratory products (including RELVAR/BREO ELLIPTA and ANORO ELLIPTA) and commercializes marketed therapeutics such as GIAPREZA, XERAVA, XACDURO and ZEVTERA while advancing zoliflodacin. The company organizes operations into its royalties business, IST operating platform, and an investments portfolio. Its products and rights are licensed and distributed globally through partners and third‑party manufacturers, with a hospital and specialty channel focus.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	411	359	310	331	392
Amortization of acquired intangible assets	26	26	22	—	—
Gross profit	308	296	246	—	—
Selling, general and administrative	113	116	98	64	16
Research and development	31	14	34	41	576,000
Total operating expenses	144	129	132	—	17
Income from operations	164	167	114	—	375
Changes in fair values of equity method investments, net	141	−64	77	162	−84
Changes in fair values of equity and long-term investments, net	20	−59	11	−8	−7
Interest and dividend income	21	19	16	−6	−2
Interest expense	−17	−22	−19	16	19
Other expense, net	−3	−3	−5	3	4
Income before provision for income taxes	327	37	194	287	445
Income tax expense, net	−56	−14	−14	67	76
Net income and comprehensive income	271	23	180	220	369
Basic (per share)	4.02	0.37	2.75	3.07	3.24
Diluted (per share)	3.3	0.36	2.2	2.37	2.87
Basic (shares)	67	63	65	70	82
Diluted (shares)	85	74	87	95	94

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	551	305	194	291	202
Accounts receivable	35	20	14	9	0
Receivable from collaboration arrangements	58	66	70	55	111
Inventory	39	34	41	56	0
Prepaid expenses	27	21	22	30	1
Current portion of ISP Fund investments	16	108	0	—	—
Other current assets	2	656,000	4	3	70,000
Total current assets	728	554	344	444	314
Property and equipment, net	2	514,000	483,000	170,000	12,000
Equity method investments	194	52	117	39	—
Equity and long-term investments	404	342	444	364	484
Capitalized fees paid, net	56	70	84	98	111
Right-of-use assets	11	2	3	3	97,000
Goodwill	18	18	18	27	0
Intangible assets	182	208	230	253	0
Deferred tax assets, net	0	12	0	0	17
Other assets	41	41	3	4	11,000
Total assets	1,635	1,301	1,244	1,231	926
Accounts payable	5	2	7	3	27,000
Accrued personnel-related expenses	9	7	7	8	619,000
Accrued interest payable	2	3	3	4	4
Deferred revenue	4	1	1	2	0
Income tax payable	274,000	0	0	154,000	0
Convertible notes, due 2025, net of issuance costs	0	192	0	—	—
Other accrued liabilities	29	30	20	—	—
Total current liabilities	50	236	38	135	6
Long-term debt, net of discount and issuance costs	258	256	446	444	395
Other long-term liabilities	66	64	72	71	0
Deferred tax liabilities, net	32	0	563,000	6	0
Income tax payable, long-term	57	53	12	—	—
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock: $0.01 par value, 230 shares authorized, no shares issued and outstanding	0	0	0	0	0
Common stock: $0.01 par value, 200,000 shares authorized, 74,636 and 62,665 issued and outstanding as of December 31, 2025 and 2024 respectively	747,000	627,000	633,000	692,000	696,000
Additional paid-in capital	903	692	1,093	1,164	1,264
Retained earnings (accumulated deficit)	269	−2	−25	−205	−456
Total stockholders' equity	1,173	691	—	566	415
Total liabilities and stockholders' equity	1,635	1,301	1,244	1,231	926

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	44	−13	4	25	76
Amortization of capitalized fees and depreciation of property and equipment	14	14	14	14	14
Amortization of acquired intangible assets	26	26	22	—	—
Inventory fair value step-up adjustment included in cost of products sold	5	14	27	10	0
Stock-based compensation	9	6	6	7	2
Amortization of debt discount and issuance costs	2	2	2	2	9
Changes in fair values of equity and long-term investments, net	−20	59	−11	−8	−5
Acquired in-process research and development assets	9	0	0	—	—
Other non-cash items	2	−722,000	−517,000	3	−259,000
Accounts receivable	−15	−6	−5	−4	0
Receivables from collaboration arrangements	8	4	−15	—	—
Inventory	−13	−7	−12	280,000	0
Prepaid expenses	−6	567,000	8	−21	203,000
Other assets	−1	−38	−3	−3	0
Accounts payable	3	−5	4	92,000	−39,000
Accrued personnel-related expenses and other accrued liabilities	−6	3	−1	12	−257,000
Accrued interest payable	−2	0	−937,000	207,000	0
Deferred revenue	3	−151,000	−817,000	−755,000	0
Income tax payable	4	41	2	10	0
Net cash provided by operating activities	197	189	141	202	364
Acquisition of intangible asset	0	−4	0	0	—
Purchases of trading securities	−61	−60	−65	0	−16
Proceeds from trading securities	8	0	0	—	—
Purchases of equity and long-term investments	−18	0	−1	−14	−6
Purchases of equity investments managed by ISP Fund LP	0	−32	−31	−61	−191
Sales of equity investments managed by ISP Fund LP	28	76	73	24	21
Purchases and sales of other investments managed by ISP Fund LP, net	93	−43	−41	−23	280
Cash paid for in-process research and development assets acquired	−9	0	0	—	—
Purchases of property and equipment	−1	−270,000	−411,000	−67,000	0
Sale of property and equipment	12,000	101,000	0	0	—
Net cash provided by (used in) investing activities	40	−64	−67	−57	44
Repurchase of common stock	−5	−15	−76	−9	−394
Repurchase of shares to satisfy tax withholding	−143,000	−142,000	−77,000	−82,000	−60,000
Proceeds from issuances of common stock, net	3	1	170,000	370,000	1
Proceeds from exercise of warrants	11	0	0	—	—
Net cash provided by (used in) financing activities	9	−13	−172	−56	−452
Net increase (decrease) in cash and cash equivalents	246	111	−98	90	−45
Cash paid for interest	10	10	11	12	10
Cash paid for income taxes	19	12	0	54	0
2025 Notes converted to common stock	192	0	0	—	—
Accrued interest income converted to long-term investments	830,000	4	3	0	0

Filings

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Frequently asked questions

What is Innoviva, Inc.'s CIK number?

Innoviva, Inc.'s SEC CIK number is 0001080014 (1080014). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Innoviva, Inc.'s SEC filings?

All of Innoviva, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Innoviva, Inc. last report earnings?

Innoviva, Inc. (INVA) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-209044). This is Innoviva, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Innoviva, Inc.'s most recent earnings 8-K?

Innoviva, Inc.'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001193125-26-209044. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Innoviva, Inc.'s latest earnings 8-K →
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