Filing Flows › Innoviva (INVA) › Q1 2025
Innoviva (INVA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Innoviva (INVA) reported revenue of $88.6M for the first quarter 2025 (Q1 2025), +14% from a year earlier and -3% from the quarter before. Operating margin was 46.7%, net loss $46.6M (52.6% of revenue).
Innoviva, Q1 2025: revenue $88.6M (+14% year over year), operating margin 46.7%, net loss $46.6M, operating cash flow $48.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $88.6M | -3% | +14% |
| Operating profit | $41.4M | — | — |
| Net earnings | −$46.6M | — | — |
| Operating cash flow | $48.6M | -18% | +31% |
What changed
Revenue was $88.6M in Q1 2025, up 14% year over year and down 3% from the previous quarter. Royalty was the largest line at 65% of revenue. Giapreza added $6.2M year over year (up 51%), 56% of the total change. Xerava declined 11%.
Gross margin was 82.7%, up 5.2 points from a year earlier. Operating profit was $41.4M, a 46.7% margin (up 13.4 points year over year). Of the extra revenue versus a year earlier, 140% reached operating profit, above the 33% margin then. Operating expenses fell 7% while revenue rose 14%. The fastest-growing cost line was Research & development (+13%). The quarter ended with a net loss of $46.6M, after a profit of $20.3M the previous quarter. Net interest and other expense of $80.0M was the main reason.
Operating cash flow was $48.6M (up 31% year over year). Non-cash charges added back $2.1M of share-based compensation. Working capital and other items added $93.1M.
Questions
What was Innoviva's revenue in the first quarter 2025?
Innoviva (INVA) reported revenue of $88.6M for the first quarter 2025 (Q1 2025), +14% from a year earlier and -3% from the quarter before.
Was Innoviva profitable in the first quarter 2025?
Operating profit was $41.4M (46.7% of revenue) and net loss $46.6M.
Source: Innoviva 10-Q on SEC EDGAR.