Innoviva, Inc. INVA

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

Innoviva, Inc. ("Innoviva", the "Company", the "Registrant" or "we" and other similar pronouns) is a diversified biopharmaceutical company with a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics ("IST"), and a portfolio of strategic healthcare assets.

Our royalty portfolio contains respiratory assets partnered with Glaxo Group Limited ("GSK"), including RELVAR®/BREO® ELLIPTA® (fluticasone furoate/vilanterol, "FF/VI") and ANORO® ELLIPTA® (umeclidinium bromide/vilanterol, "UMEC/VI"). Under the Long-Acting Beta-2 Agonist ("LABA") Collaboration Agreement, Innoviva is entitled to receive royalties from GSK on sales of RELVAR®/BREO® ELLIPTA® as follows: 15% on the first $3.0 billion of annual global net sales and 5% for all annual global net sales above $3.0 billion; and royalties from the sales of ANORO® ELLIPTA®, which tier upward at a range from 6.5% to 10%.

Last close 20.66 2026-10-23
Market cap $1.49B 2026-06-30 share count
52-week range 17.45 - 25.14

Valuation FY2025 figures against the last close

P/S3.6x
P/E6.3x
P/FCF7.6x
EV/EBITDA7.3x
Dividend yield—
Diluted EPS3.30

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $411.3M$358.7M$310.5M$331.3M$391.9M$336.8M$261.0M$261.0M$217.2M$133.6M
Gross profit $307.7M$296.2M$246.0M———————
R&D $30.6M$13.7M$33.9M$41.4M$576.0K$1.8M$0$0$1.4M$1.4M
SG&A $113.3M$115.7M$98.2M$63.5M$16.2M$13.9M$14.7M$20.1M$32.3M$23.2M
Total operating expenses $143.9M$129.3M$132.2M$44.4M-$53.4M-$17.5M$14.7M$22.8M$33.6M$24.6M
Operating income $163.7M$166.9M$113.9M—$375.1M$321.1M$246.4M$238.3M$183.6M$109.0M
Interest expense $16.7M$22.2M$19.2M$15.8M$19.1M$18.3M$18.7M$24.0M$43.6M$52.4M
Pre-tax income $326.9M$37.4M$194.1M$286.9M$445.3M$354.2M$232.9M$210.3M$134.3M$59.6M
Income tax $55.7M$14.0M$14.4M$66.7M$76.4M$60.4M$41.9M$196.1M$4.0K$95.0K
Net income $271.2M$23.4M$179.7M$220.3M$368.8M$293.8M$191.0M$406.3M$134.3M$59.5M
EPS, basic 4.020.372.753.073.242.211.553.921.250.54
EPS, diluted 3.300.362.202.372.872.021.433.531.170.53
Shares, diluted (wtd. avg.) 84.8M74.2M86.9M95.2M94.3M113.6M113.4M113.4M119.9M123.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $550.9M$305.0M$193.5M$291.0M$201.5M$246.5M$278.1M$62.4M$73.3M$118.0M
Short-term investments —————$0$72.7M$52.5M$55.7M$32.4M
Inventory $39.2M$33.7M$40.7M$55.9M$0—————
Total current assets $727.5M$554.3M$344.2M$443.5M$313.7M$342.1M$431.2M$199.0M$200.4M$198.0M
Property, plant and equipment $1.6M$514.0K$483.0K$170.0K$12.0K$28.0K$33.0K$160.0K$209.0K$368.0K
Goodwill $17.9M$17.9M$17.9M$26.7M$0—————
Other intangibles $182.2M$208.4M$230.3M$252.9M$0—————
Total assets $1.64B$1.30B$1.24B$1.23B$926.4M$999.6M$724.8M$548.2M$367.3M$379.0M
Accounts payable $5.0M$2.1M$6.7M$2.9M$27.0K$66.0K$10.0K$11.0K$601.0K$128.0K
Short-term debt $0$192.0M$0$96.2M$0————$7.8M
Total current liabilities $49.7M$236.1M$38.1M$135.0M$5.8M$6.1M$5.4M$5.7M$34.7M$20.0M
Long-term debt $257.7M$256.3M$446.2M$444.2M$394.7M$385.5M$377.1M$382.9M$574.4M$708.3M
Retained earnings $269.4M-$1.8M-$25.2M-$204.9M-$456.1M-$722.0M-$946.4M-$1.10B-$1.50B-$1.63B
Total equity $1.17B$691.2M$675.0M$565.8M$525.9M$607.8M$342.1M$159.1M-$242.7M-$353.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $196.9M$188.7M$141.1M$201.7M$363.8M$313.1M$257.5M$223.5M$141.7M$61.0M
Depreciation and amortisation ————$13.8M$13.8M$13.9M$13.9M$14.0M$14.0M
Stock-based compensation $9.5M$6.4M$5.8M$7.3M$2.0M$1.7M$2.1M$3.2M$9.8M$8.3M
Capital expenditure $1.1M$270.0K$411.0K$67.0K$0$13.0K$12.0K$0$0$278.0K
Investing cash flow $40.5M-$63.8M-$66.8M-$56.6M$43.7M-$314.9M-$18.0M$3.5M-$23.2M-$4.6M
Financing cash flow $8.6M-$13.5M-$171.8M-$55.6M-$452.5M-$29.8M-$23.8M-$238.0M-$163.2M-$97.6M
Dividends paid ————$0$0$11.0K$80.0K$281.0K$960.0K
Buybacks $4.5M$14.8M$75.7M$8.5M$394.1M$0$0$0$97.5M$78.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-128939.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M Revenue, FY2016: 133.6M Net income, FY2016: 59.5M Revenue, FY2017: 217.2M Net income, FY2017: 134.3M Revenue, FY2018: 261M Net income, FY2018: 406.3M Revenue, FY2019: 261M Net income, FY2019: 191M Revenue, FY2020: 336.8M Net income, FY2020: 293.8M Revenue, FY2021: 391.9M Net income, FY2021: 368.8M Revenue, FY2022: 331.3M Net income, FY2022: 220.3M Revenue, FY2023: 310.5M Gross profit, FY2023: 246M Net income, FY2023: 179.7M Revenue, FY2024: 358.7M Gross profit, FY2024: 296.2M Net income, FY2024: 23.4M Revenue, FY2025: 411.3M Gross profit, FY2025: 307.7M Net income, FY2025: 271.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $133.6M $217.2M $261.0M $261.0M $336.8M $391.9M $331.3M $310.5M $358.7M $411.3M
Gross profit — — — — — — — $246.0M $296.2M $307.7M
Net income $59.5M $134.3M $406.3M $191.0M $293.8M $368.8M $220.3M $179.7M $23.4M $271.2M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Annual report filed Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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