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Innoviva vs CorMedix: INVA and CRMD compared
Innoviva is the larger company: $106M of revenue in its latest quarter (Q3 2026) against $102M for CorMedix (Q2 2026). CorMedix is growing faster (+156% against -2% a year earlier). CorMedix is more profitable, with an operating margin of 42.1% against 39.7%.
Where the money goes: INVA and CRMD
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.
CorMedix (CRMD) · Q2 2026
CorMedix, Q2 2026: revenue $102M (+156% year over year), operating margin 42.1%, net earnings $26.0M, operating cash flow $86.2M. The chart follows the revenue to costs, profit and cash.
| Innoviva (INVA) | CorMedix (CRMD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $106M | $102M |
| Revenue growth, Y/Y | -2% | +156% |
| Gross margin | — | 75.7% |
| Operating margin | 39.7% | 42.1% |
| Net earnings | −$73.9M | $26.0M |
| Net margin | -69.6% | 25.5% |
| Operating cash flow | $41.7M | $86.2M |
| Free cash flow | $41.7M | $85.7M |
Where the revenue comes from
Innoviva
- Royalty: $54.7M (52%)
- Product: $49.4M (47%)
- License and Other Revenue: $2.0M (2%)
CorMedix
- Product sales, net: $94.3M (93%)
- Contract revenue: $5.0M (5%)
- Grant income: $2.6M (3%)
Questions
Which is bigger, Innoviva or CorMedix?
Innoviva is the larger company: $106M of revenue in its latest quarter (Q3 2026) against $102M for CorMedix (Q2 2026).
Is Innoviva or CorMedix growing faster?
CorMedix is growing faster (+156% against -2% a year earlier).
Which is more profitable, Innoviva or CorMedix?
CorMedix is more profitable, with an operating margin of 42.1% against 39.7%.
More: Innoviva earnings · how Innoviva makes money · CorMedix earnings · how CorMedix makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Aug 13, 2026). Fiscal quarters can end on different dates. Not investment advice.