Innoviva Q3 net loss of $73.9 million as revenue dips 1.6% to $106.1 million

Innoviva reported third-quarter 2026 results with total revenue of $106.1 million, down 1.6% from $107.8 million a year earlier, while U.S. net product sales rose 45% to $43.3 million. The company swung to a net loss of $73.9 million, or $1.03 per basic share, mainly because of unfavorable fair value changes in its equity and long-term investments, and it reaffirmed its 2026 guidance of at least $150 million in U.S. net product sales.

Key points

• Total revenue was $106.1 million versus $107.8 million in Q3 2025; gross royalty revenue from GSK was stable at $58.1 million.
• Net loss of $73.9 million, or $1.03 per basic share, compared with net income of $89.9 million in Q3 2025, driven by a $139.5 million net unfavorable fair value change in equity and long-term investments.
• Income from operations rose 21.9% to $42.2 million, and cash and cash equivalents totaled $581.4 million as of September 30, 2026.
• During Q3 2026 the company repurchased 1,226,948 shares for $26.3 million under its $125 million buyback program.

The filing

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.

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.