Filing Flows › Innoviva (INVA) › Q2 2026 › vs Q1 2026
Innoviva (INVA) Q2 2026 vs Q1 2026 (quarter over quarter)
Innoviva's revenue rose $21.6M (+22%) from $98.0M in Q1 2026 to $120M in Q2 2026. The biggest changes: Product +$10.4M (+25%); License and Other Revenue +$10.0M (+689%); Royalty +$1.2M (+2%).
Innoviva, Q2 2026: revenue $120M (+19% year over year), operating margin 42.5%, net loss $83.4M, operating cash flow $52.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 43.1% | 35.5% | +7.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Xacduro | $22.4M | $18.1M | $4.3M | +24% |
| Giapreza | $22.3M | $20.2M | $2.1M | +10% |
| Xerava | $6.7M | $2.6M | $4.1M | +156% |
| ZEVTERA | $351K | $438K | −$87K | -20% |
| Product | $51.8M | $41.4M | $10.4M | +25% |
| Royalty | $56.3M | $55.2M | $1.2M | +2% |
| License and Other Revenue | $11.5M | $1.5M | $10.0M | +689% |
| Revenue | $120M | $98.0M | $21.6M | +22% |
| Income tax benefit | $24.6M | −$48.0M | $72.6M | — |
| Net loss | $83.4M | −$187M | $270M | — |
| Costs & expenses | $228M | $294M | −$66.8M | -23% |
| Operating costs | $68.7M | $59.8M | $8.9M | +15% |
| Interest & other, net | $159M | −$196M | $355M | — |
| Cost of revenue | $29.0M | $22.2M | $6.8M | +31% |
| Research & development | $5.2M | $5.2M | −$51K | -1% |
| SG&A | $34.6M | $32.4M | $2.1M | +7% |
| Operating cash sources | $135M | −$151M | $287M | — |
| Share-based compensation | $4.7M | $2.6M | $2.2M | +85% |
| Working capital & other | $131M | −$154M | $285M | — |
| Net loss absorbed | $83.4M | −$187M | $270M | — |
| Operating cash flow | $52.0M | $35.3M | $16.7M | +47% |
| Free cash flow (OCF − capex) | $51.5M | $34.8M | $16.8M | +48% |
| Capital expenditures | $429K | $492K | −$63K | -13% |
Questions
How much did Innoviva's revenue grow quarter over quarter in Q2 2026?
Innoviva's revenue rose $21.6M (+22%) from $98.0M in Q1 2026 to $120M in Q2 2026.
What drove Innoviva's revenue change in Q2 2026?
Product +$10.4M (+25%); License and Other Revenue +$10.0M (+689%); Royalty +$1.2M (+2%).