NASDAQ$INVA
Innoviva Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Innoviva reported Q4 2025 royalty portfolio revenue of $58.4 million and full-year revenue growth of 15% to over $400 million.
Innoviva generated Q4 2025 royalties portfolio revenue of $58.4 million with full-year royalties of $250.3 million. TRELEGY-related economics and the Innovative Science Therapeutics (IST) business drove growth: Q4 U.S. net product sales for IST were $33.9 million and full-year IST U.S. sales $119.2 million (+47% YoY). Full-year 2025 total revenue exceeded $400 million with net income above $270 million. Management initiated a $125 million share repurchase and expects IST U.S. net product sales of $150 million or more in 2026.
- Q4 royalty revenue $58.4M; full-year royalties $250.3M.
- IST Q4 U.S. net product sales $33.9M; full-year IST U.S. sales $119.2M (+47%).
- Full-year revenue >$400M; net income >$270M.
- $125M share repurchase program launched in Q4.
Headline financials
Revenue & EPS history
Innoviva · Revenue · Quarterly
$58.4M
Forward guidance
Management expects IST U.S. net product sales of at least $150 million in 2026 and highlighted XACDURO growth alongside a durable royalty stream from partnered respiratory assets.
Tailwinds
- Resilient royalty cash flows from TRELEGY and partnered portfolio.
- IST commercial acceleration with 47% U.S. sales growth in 2025.
- Capital return via $125M repurchase authorization.
Headwinds
- Concentration on partner-reported royalty timing and payer dynamics.
- IST still scaling; antibiotic market access and competition.
- Limited near-term diversity beyond royalty + IST core drivers.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+1.4%
Avg return
Earnings day
+2.6%
Avg return
5 days after
+2.8%
Avg return
30 days after
55%
35 / 64 earnings
Positive
+19.4%
Q1 2012
Best reaction
-15.1%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | -0.6% | -0.6% | |
| Q4 2025 | -2.7% | -8.0% | -6.5% | |
| Q3 2025 | +13.1% | +20.1% | +13.8% | |
| Q1 2025 | -0.9% | -2.6% | +15.2% | |
| Q4 2024 | -2.0% | -1.8% | +1.6% | |
| Q3 2024 | +2.9% | +3.6% | -2.0% | |
| Q2 2024 | +1.6% | -3.6% | +2.1% | |
| Q1 2024 | -1.5% | +4.2% | +3.9% | |
| Q4 2023 | -0.7% | -3.1% | -0.7% | |
| Q3 2023 | +7.0% | +10.0% | +12.7% | |
| Q2 2023 | -1.3% | +1.3% | -4.0% | |
| Q1 2023 | +4.5% | +8.5% | +17.5% | |
| Q4 2022 | -5.2% | -8.3% | -7.0% | |
| Q3 2022 | +5.1% | +2.6% | +2.5% | |
| Q2 2022 | -1.7% | -1.3% | -8.0% | |
| Q1 2022 | +0.9% | -5.2% | -10.2% | |
| Q4 2021 | +13.7% | +24.5% | +19.2% | |
| Q3 2021 | +8.8% | +9.2% | +6.3% | |
| Q2 2021 | +6.3% | +10.2% | +10.7% | |
| Q1 2021 | +0.9% | +0.7% | +16.2% | |
| Q4 2020 | +1.0% | +1.3% | -7.3% | |
| Q3 2020 | +11.3% | +6.4% | +12.7% | |
| Q2 2020 | +0.4% | +0.7% | -15.0% | |
| Q1 2020 | +5.3% | -0.2% | +3.7% | |
| Q4 2019 | +3.5% | +3.5% | -6.1% | |
| Q3 2019 | +6.2% | +10.8% | +23.2% | |
| Q2 2019 | -15.1% | -10.4% | -16.1% | |
| Q1 2019 | +6.5% | +6.6% | -2.6% | |
| Q4 2018 | -3.3% | -6.1% | -14.2% | |
| Q3 2018 | +2.3% | +7.7% | +22.6% | |
| Q2 2018 | -1.2% | +1.5% | +1.3% | |
| Q1 2018 | -2.9% | -0.3% | -1.5% | |
| Q4 2017 | +8.5% | +19.5% | +14.2% | |
| Q3 2017 | -11.9% | -14.0% | -4.5% | |
| Q2 2017 | +4.3% | +4.7% | -2.1% | |
| Q1 2017 | -8.3% | -9.6% | -5.3% | |
| Q4 2016 | +1.7% | +7.9% | +15.8% | |
| Q3 2016 | -1.6% | +4.2% | +12.9% | |
| Q2 2016 | +9.2% | +8.9% | -3.5% | |
| Q1 2016 | -1.0% | — | — | |
| Q4 2015 | +14.6% | — | — | |
| Q3 2015 | +1.1% | — | — | |
| Q2 2015 | -10.8% | — | — | |
| Q1 2015 | -6.3% | — | — | |
| Q4 2014 | +10.8% | — | — | |
| Q3 2014 | -5.0% | — | — | |
| Q2 2014 | +4.5% | — | — | |
| Q1 2014 | -1.1% | — | — | |
| Q4 2013 | -2.1% | — | — | |
| Q3 2013 | +8.3% | — | — | |
| Q2 2013 | -3.7% | — | — | |
| Q1 2013 | +11.3% | — | — | |
| Q4 2012 | -4.9% | — | — | |
| Q3 2012 | -9.4% | — | — | |
| Q2 2012 | -7.1% | — | — | |
| Q1 2011 | -1.9% | — | — | |
| Q1 2012 | +19.4% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q3 2011 | +8.6% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q4 2010 | -1.1% | — | — | |
| Q3 2010 | +2.7% | — | — | |
| Q2 2010 | +8.0% | — | — | |
| Q1 2010 | -9.2% | — | — |
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