Filing Flows › Innoviva (INVA) › Q3 2026
Innoviva (INVA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Innoviva (INVA) reported revenue of $106M for the third quarter 2026 (Q3 2026), -2% from a year earlier and -11% from the quarter before. Operating margin was 39.7%, net loss $73.9M (69.6% of revenue).
Innoviva, Q3 2026: revenue $106M (-2% year over year), operating margin 39.7%, net loss $73.9M, operating cash flow $41.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $106M | -11% | -2% |
| Operating profit | $42.2M | -17% | +22% |
| Net earnings | −$73.9M | — | -182% |
| Operating cash flow | $41.7M | -20% | -16% |
| Free cash flow | $41.7M | -19% | -14% |
What changed
Revenue was $106.1M in Q3 2026, down 2% year over year and down 11% from the previous quarter. Royalty was the largest line at 52% of revenue. Royalty lost $5.2M year over year (down 9%), 312% of the total change.
Gross margin was 79.5%, up 9.4 points from Q3 2025. Operating profit was $42.2M, a 39.7% margin (up 7.6 points year over year). Operating expenses grew 3% against a revenue fall of 2%. The fastest-growing cost line was Sales & marketing (+49%). The quarter ended with a net loss of $73.9M, narrower than the previous quarter's $83.4M loss. Net interest and other expense of $139.8M was the main reason.
Operating cash flow was $41.7M (down 16% year over year). Non-cash charges added back $3.7M of share-based compensation. Working capital and other items added $111.9M. Capital expenditures of $24K left free cash flow of $41.7M.
Questions
What was Innoviva's revenue in the third quarter 2026?
Innoviva (INVA) reported revenue of $106M for the third quarter 2026 (Q3 2026), -2% from a year earlier and -11% from the quarter before.
Was Innoviva profitable in the third quarter 2026?
Operating profit was $42.2M (39.7% of revenue) and net loss $73.9M.
Source: Innoviva 10-Q on SEC EDGAR.