Filing Flows › Innoviva (INVA) › Q3 2026 › vs Q2 2026
Innoviva (INVA) Q3 2026 vs Q2 2026 (quarter over quarter)
Innoviva's revenue fell $13.5M (-11%) from $120M in Q2 2026 to $106M in Q3 2026. The biggest changes: License and Other Revenue −$9.5M (-82%); Product −$2.3M (-4%); Royalty −$1.7M (-3%).
Innoviva, Q3 2026: revenue $106M (-2% year over year), operating margin 39.7%, net loss $73.9M, operating cash flow $41.7M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 39.3% | 43.1% | -3.8 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Giapreza | $23.2M | $22.3M | $933K | +4% |
| Xacduro | $22.0M | $22.4M | −$379K | -2% |
| Xerava | $3.6M | $6.7M | −$3.2M | -47% |
| ZEVTERA | $624K | $351K | $273K | +78% |
| Product | $49.4M | $51.8M | −$2.3M | -4% |
| Royalty | $54.7M | $56.3M | −$1.7M | -3% |
| License and Other Revenue | $2.0M | $11.5M | −$9.5M | -82% |
| Revenue | $106M | $120M | −$13.5M | -11% |
| Income tax benefit | $23.7M | $24.6M | −$878K | -4% |
| Net loss | $73.9M | $83.4M | −$9.5M | -11% |
| Costs & expenses | $204M | $228M | −$23.9M | -10% |
| Operating costs | $64.0M | $68.7M | −$4.8M | -7% |
| Interest & other, net | $140M | $159M | −$19.1M | -12% |
| Cost of revenue | $21.7M | $29.0M | −$7.2M | -25% |
| Research & development | $5.2M | $5.2M | $24K | +0.5% |
| Operating cash sources | $116M | $135M | −$19.8M | -15% |
| Share-based compensation | $3.7M | $4.7M | −$1.1M | -23% |
| Working capital & other | $112M | $131M | −$18.7M | -14% |
| Net loss absorbed | $73.9M | $83.4M | −$9.5M | -11% |
| Operating cash flow | $41.7M | $52.0M | −$10.3M | -20% |
| Free cash flow (OCF − capex) | $41.7M | $51.5M | −$9.9M | -19% |
| Capital expenditures | $24K | $429K | −$405K | -94% |
Questions
How much did Innoviva's revenue grow quarter over quarter in Q3 2026?
Innoviva's revenue fell $13.5M (-11%) from $120M in Q2 2026 to $106M in Q3 2026.
What drove Innoviva's revenue change in Q3 2026?
License and Other Revenue −$9.5M (-82%); Product −$2.3M (-4%); Royalty −$1.7M (-3%).