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Emergent BioSolutions vs Innoviva: EBS and INVA compared
Emergent BioSolutions is the larger company: $110M of revenue in its latest quarter (Q3 2026) against $106M for Innoviva (Q3 2026). Innoviva is growing faster (-2% against -52% a year earlier). Innoviva is more profitable, with an operating margin of 39.7% against -33.9%.
Where the money goes: EBS and INVA
Emergent BioSolutions (EBS) · Q3 2026
Emergent BioSolutions, Q3 2026: revenue $110M (-52% year over year), operating margin -33.9%, net loss $32.7M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
Innoviva (INVA) · Q3 2026
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.
| Emergent BioSolutions (EBS) | Innoviva (INVA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $110M | $106M |
| Revenue growth, Y/Y | -52% | -2% |
| Operating margin | -33.9% | 39.7% |
| Net earnings | −$32.7M | −$73.9M |
| Net margin | -29.7% | -69.6% |
| Operating cash flow | $100M | $41.7M |
| Free cash flow | $96.8M | $41.7M |
Where the revenue comes from
Emergent BioSolutions
- MCM Product sales: $59.4M (54%)
- Commercial Product sales: $43.5M (40%)
- All other revenue: $7.1M (6%)
Innoviva
- Royalty: $54.7M (52%)
- Product: $49.4M (47%)
- License and Other Revenue: $2.0M (2%)
Questions
Which is bigger, Emergent BioSolutions or Innoviva?
Emergent BioSolutions is the larger company: $110M of revenue in its latest quarter (Q3 2026) against $106M for Innoviva (Q3 2026).
Is Emergent BioSolutions or Innoviva growing faster?
Innoviva is growing faster (-2% against -52% a year earlier).
Which is more profitable, Emergent BioSolutions or Innoviva?
Innoviva is more profitable, with an operating margin of 39.7% against -33.9%.
More: Emergent BioSolutions earnings · how Emergent BioSolutions makes money · Innoviva earnings · how Innoviva makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.