Innoviva Q1 2026 revenue rises 11% to $98.0 million; net income $186.6 million
Innoviva reported first-quarter 2026 total revenue of $98.0 million, up 11% from $88.6 million a year earlier, and net income of $186.6 million, or $2.52 per basic share, compared with a net loss of $46.6 million in the first quarter of 2025. The swing to profit was driven mainly by $191.2 million in net favorable fair value changes on investments, primarily Armata Pharmaceuticals, while income from operations fell to $38.2 million from $41.4 million.
Key points
- Total revenue of $98.0 million, up 11% from $88.6 million in Q1 2025; net product sales rose 37% to $41.4 million.
- Net income of $186.6 million ($2.52 basic EPS) versus a net loss of $46.6 million ($0.74 loss per share) in Q1 2025, driven mainly by $191.2 million in net favorable fair value changes, primarily Armata Pharmaceuticals.
- Income from operations was $38.2 million, down from $41.4 million a year earlier.
- Cash and cash equivalents totaled $603.1 million at March 31, 2026; the company repurchased 971,066 shares for $20.4 million in the quarter under its $125 million program.
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 06, 2026.
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.