Filing Flows › Innoviva (INVA) › Q2 2026 › vs Q2 2025
Innoviva (INVA) Q2 2026 vs Q2 2025 (year over year)
Innoviva's revenue rose $19.3M (+19%) from $100M in Q2 2025 to $120M in Q2 2026. The biggest changes: Product +$16.3M (+46%); License and Other Revenue +$10.6M (13×); Royalty −$7.5M (-12%).
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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 43.1% | 43.9% | -0.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Xacduro | $22.4M | $10.7M | $11.7M | +109% |
| Giapreza | $22.3M | $17.3M | $5.0M | +29% |
| Xerava | $6.7M | $7.1M | −$355K | -5% |
| ZEVTERA | $351K | $339K | $12K | +4% |
| Product | $51.8M | $35.5M | $16.3M | +46% |
| Royalty | $56.3M | $63.9M | −$7.5M | -12% |
| License and Other Revenue | $11.5M | $910K | $10.6M | 13× |
| Revenue | $120M | $100M | $19.3M | +19% |
| Income tax benefit | $24.6M | −$8.9M | $33.5M | — |
| Net loss | $83.4M | −$63.7M | $147M | — |
| Costs & expenses | $228M | $124M | $103M | +83% |
| Operating costs | $68.7M | $51.5M | $17.2M | +33% |
| Interest & other, net | $159M | −$23.8M | $183M | — |
| Cost of revenue | $29.0M | $17.1M | $11.8M | +69% |
| Research & development | $5.2M | $8.0M | −$2.8M | -35% |
| SG&A | $34.6M | $26.4M | $8.2M | +31% |
| Operating cash sources | $135M | −$19.6M | $155M | — |
| Share-based compensation | $4.7M | $2.4M | $2.3M | +96% |
| Working capital & other | $131M | −$22.0M | $153M | — |
| Net loss absorbed | $83.4M | −$63.7M | $147M | — |
| Operating cash flow | $52.0M | $44.1M | $7.9M | +18% |
| Free cash flow (OCF − capex) | $51.5M | $44.1M | $7.5M | +17% |
| Capital expenditures | $429K | $0 | $429K | — |
Questions
How much did Innoviva's revenue grow year over year in Q2 2026?
Innoviva's revenue rose $19.3M (+19%) from $100M in Q2 2025 to $120M in Q2 2026.
What drove Innoviva's revenue change in Q2 2026?
Product +$16.3M (+46%); License and Other Revenue +$10.6M (13×); Royalty −$7.5M (-12%).