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Net Income Per Share (Tables) | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Schedule of computation of basic and diluted net income per share | The following table shows the computation of basic and diluted net income per share for the years ended December 31, 2024, 2023 and 2022:
|  | Year Ended December 31, |
(In thousands except per share data) |  | 2024 |  |  | 2023 |  |  | 2022 |
Numerator: |  |  |  |  |  |  |  |  |
Net income attributable to Innoviva stockholders, basic |  | $ | 23,392 |  |  | $ | 179,722 |  |  | $ | 213,921 |
Add: interest expense on 2023 Notes, net of tax effect |  |  | — |  |  |  | 89 |  |  |  | 2,439 |
Add: interest expense on 2025 Notes, net of tax effect |  |  | 3,468 |  |  |  | 5,116 |  |  |  | 4,583 |
Add: interest expense on 2028 Notes, net of tax effect |  |  | — |  |  |  | 6,377 |  |  |  | 4,626 |
Net income attributable to Innoviva stockholders, diluted |  | $ | 26,860 |  |  | $ | 191,304 |  |  | $ | 225,569 |
Denominator: |  |  |  |  |  |  |  |  |
Weighted-average shares used to compute basic net income per share attributable to Innoviva stockholders |  |  | 62,726 |  |  |  | 65,435 |  |  |  | 69,644 |
Dilutive effect of 2023 Notes |  |  | — |  |  |  | 187 |  |  |  | 6,188 |
Dilutive effect of 2025 Notes |  |  | 11,150 |  |  |  | 11,150 |  |  |  | 11,150 |
Dilutive effect of 2028 Notes |  |  | — |  |  |  | 9,955 |  |  |  | 8,158 |
Dilutive effect of options and awards granted under equity incentive plan and employee stock purchase plan |  |  | 311 |  |  |  | 149 |  |  |  | 108 |
Weighted-average shares used to compute diluted net income per share attributable to Innoviva stockholders |  |  | 74,187 |  |  |  | 86,876 |  |  |  | 95,248 |
Net income per share attributable to Innoviva stockholders |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.37 |  |  | $ | 2.75 |  |  | $ | 3.07 |
Diluted |  | $ | 0.36 |  |  | $ | 2.20 |  |  | $ | 2.37 |
Schedule of anti-dilutive securities | The following common stock equivalents were not included in the computation of diluted net income per share because their effect was anti‑dilutive for the periods presented:
|  | Year Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Outstanding options and awards granted under equity incentive plan and employee stock purchase plan |  |  | 1,196 |  |  |  | 1,333 |  |  |  | 648 |
Outstanding stock warrant |  |  | 591 |  |  |  | 591 |  |  |  | 282 |
Outstanding 2028 Notes |  |  | 9,955 |  |  |  | — |  |  |  | — |
Total |  |  | 11,742 |  |  |  | 1,924 |  |  |  | 930 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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