MARKETS / NASDAQ / INVA

NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

Innoviva, Inc. INVA

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$411.3M

▲ 14.7% YoY

Net income

$271.2M

▲ 1059.2% YoY

Free cash flow

$195.8M

▲ 3.9% YoY

In brief

What this company does

Its critical care and infectious disease operating platform is anchored by five approved, commercial products: GIAPREZA, for increasing blood pressure in adults with septic or other distributive shock; XACDURO, for hospital-acquired and ventilator-associated bacterial pneumonia caused by Acinetobacter; XERAVA, for complicated intra-abdominal infections in adults; ZEVTERA, for staphylococcus aureus bacteremia, acute bacterial skin and skin structure infections, and community-acquired bacterial pneumonia; and NUZOLVENCE, for uncomplicated urogenital gonorrhea in adults and adolescents. It also holds a significant stake in Armata Pharmaceuticals, Inc., a company that develops bacteriophages with potential use across a range of infectious and other serious diseases. It is headquartered in Burlingame, California. It was incorporated in Delaware in November 1996, commenced operations in May 1997 as Advanced Medicine, Inc., changed its name to Theravance, Inc. in April 2002, and changed its name again to Innoviva, Inc. in January 2016.

Written from the business description in Innoviva, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 411.3M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 411.3 · Net income 271.2

Compound annual growth

Revenue

+7.5%

+4.1%

+22.5%

+20.8%

Net income

+7.2%

−1.6%

EPS, diluted

+11.7%

Returned to shareholders

−37.6%

−32.8%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +4.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

66 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 39.8% · Net 65.9%

ROE

FY2025 · ROE 29.1%

Gross margin74.8%

Operating margin39.8%

Net margin65.9%

Return on assets18.5%

EBITDA—

Each USD of equity produced 29 cents of profit this year.

Cash & shareholders

USD 2.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 195.8

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 2.0

Dividends paid—

Net buybacksUSD 2.0M

Share of profit0.7%

Consecutive raises1 years

USD 2.0M in buybacks — 1% of the year's profit went back to shareholders.

Total assetsUSD 1.6B

EquityUSD 1.2B

CashUSD 550.9M

Gross debtUSD 257.7M

Net debtUSD -293.2M

Current ratio14.64×

The company holds more cash than debt.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.4	0.4	0.3	0.3	0.4	0.3	0.3	0.3	0.2	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0
Operating income $B	0.2	0.2	0.1	0.3	0.4	0.4	0.2	0.2	0.2	0.1	0.0	−0.0	−0.0	−0.0	−0.1	−0.1	−0.1
EBITDA $B	·	·	·	·	0.5	0.4	0.3	0.3	0.2	0.1	0.0	−0.0	−0.0	−0.0	−0.1	−0.1	−0.1
Income tax $B	0.1	0.0	0.0	0.1	0.1	0.1	0.0	−0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	·	·
Net income $B	0.3	0.0	0.2	0.2	0.4	0.3	0.2	0.4	0.1	0.1	−0.0	−0.2	−0.2	−0.0	−0.1	−0.1	−0.1
Free cash flow $B	0.2	0.2	0.1	0.2	0.4	0.3	0.3	0.2	0.1	0.1	0.0	−0.1	−0.1	−0.1	−0.1	−0.1	−0.1
EPS, diluted $	3.30	0.36	2.20	2.37	2.87	2.02	1.43	3.53	1.17	0.53	−0.16	−1.50	−1.67	−0.20	−1.41	−1.16	−1.35
Dividend / sh $	·	·	·	·	·	·	·	·	0.00	0.00	0.75	0.50	0.00	0.00	·	·	·
Payout %	·	·	·	·	·	·	0	0	0	2	−466	−34	−0	−0	·	·	·
ROE %	29.1	3.4	31.8	44.9	·	·	81.8	·	·	·	·	−444.7	−75.2	−54.6	·	·	·
Shares out B	0.07	0.06	0.06	0.07	0.07	0.10	0.10	0.10	·	·	·	·	·	·	·	·	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 10 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityPharmaceutical Preparations

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2009