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Zai Lab vs Innoviva: ZLAB and INVA compared
Zai Lab is the larger company: $108M of revenue in its latest quarter (Q3 2026) against $106M for Innoviva (Q3 2026). Innoviva is growing faster (-2% against -7% a year earlier). Innoviva is more profitable, with an operating margin of 39.7% against -58.2%.
Where the money goes: ZLAB and INVA
Zai Lab (ZLAB) · Q3 2026
Zai Lab, Q3 2026: revenue $108M (-7% year over year), operating margin -58.2%, net loss $46.1M, operating cash flow −$57.9M. 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.
| Zai Lab (ZLAB) | Innoviva (INVA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $108M | $106M |
| Revenue growth, Y/Y | -7% | -2% |
| Operating margin | -58.2% | 39.7% |
| Net earnings | −$46.1M | −$73.9M |
| Net margin | -42.6% | -69.6% |
| Operating cash flow | −$57.9M | $41.7M |
| Free cash flow | — | $41.7M |
Where the revenue comes from
Zai Lab
- ZEJULA: $32.3M (30%)
- VYVGART / VYVGART Hytrulo: $24.1M (22%)
- NUZYRA: $21.1M (19%)
- QINLOCK: $8.8M (8%)
Innoviva
- Royalty: $54.7M (52%)
- Product: $49.4M (47%)
- License and Other Revenue: $2.0M (2%)
Questions
Which is bigger, Zai Lab or Innoviva?
Zai Lab is the larger company: $108M of revenue in its latest quarter (Q3 2026) against $106M for Innoviva (Q3 2026).
Is Zai Lab or Innoviva growing faster?
Innoviva is growing faster (-2% against -7% a year earlier).
Which is more profitable, Zai Lab or Innoviva?
Innoviva is more profitable, with an operating margin of 39.7% against -58.2%.
More: Zai Lab earnings · how Zai Lab makes money · Innoviva earnings · how Innoviva makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.