Innoviva swings to Q1 net loss of $46.6 million on $78.8 million investment value drop
Innoviva reported first-quarter 2025 total revenue of $88.6 million, up from $77.5 million a year earlier, and income from operations rose 61% to $41.4 million. Unfavorable fair value changes in equity and long-term investments of $78.8 million produced a net loss of $46.6 million, or $0.74 per basic share, compared with net income of $36.5 million, or $0.58 per share, in the first quarter of 2024. The results are mixed for shareholders: operating performance improved, but investment valuation losses turned the bottom line negative.
Key points
- Total revenue was $88.6 million versus $77.5 million; income from operations was $41.4 million, up from $25.8 million.
- U.S. net product sales were $26.4 million, a 52% increase year over year, led by $17.4 million from GIAPREZA.
- Net loss was $46.6 million, or $0.74 per basic share, versus net income of $36.5 million, or $0.58 per share.
- Gross royalty revenue from GSK was $61.3 million, compared with $61.9 million; cash and cash equivalents were $319.1 million at March 31, 2025.
The filing
Written by AI on Nov 8, 2026, 6:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.