XML 68 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

Stock‑based compensation expense is included in the consolidated statements of income as follows:

		Year Ended December 31,
(In thousands)		2024				2023				2022
Selling, general and administrative		$	6,040			$	4,645			$	5,305
Research and development			334				1,192				2,042
Total		$	6,374			$	5,837			$	7,347

Schedule of stock-based compensation expense included in the consolidated statements of operations by award type

Stock‑based compensation expense included in the consolidated statements of income by award type is as follows:

		Year Ended December 31,
(In thousands)		2024				2023				2022
Stock options		$	2,738			$	1,980			$	3,057
RSUs			3,348				3,663				4,053
RSAs			123				168				194
ESPP			165				26				43
Total stock-based compensation expense		$	6,374			$	5,837			$	7,347

Schedule of unrecognized stock-based compensation cost

As of December 31, 2024, the unrecognized stock-based compensation cost and the estimated weighted-average amortization period were as follows:

(In thousands)		Unrecognized Compensation Cost				Weighted-Average Amortization Period (Years)
Stock options		$	6,765				2.8
RSUs			6,996				2.5
RSAs			98				1.3
Total unrecognized compensation expense		$	13,859

Summary of equity award activity and related information

The following table summarizes equity award activity under the 2012 Plan and prior plans and related information:

(In thousands, except per share data)		Number of outstanding options				Weighted-Average Exercise Price of Outstanding Options				Number of outstanding RSUs				Weighted-Average Fair Value per Share at Grant				Number of outstanding RSAs				Weighted-Average Fair Value per Share at Grant
Balance as of December 31, 2023			1,499			$	14.09				482			$	12.62				16			$	14.93
Granted			1,062			$	16.67				502			$	15.77				—			$	—
Exercised			(80	)		$	12.88				—			$	—				—			$	—
Released RSUs and RSAs			—			$	—				(241	)		$	12.52				(9	)		$	14.46
Forfeited			(414	)		$	15.24				(145	)		$	13.86				—			$	—
Balance as of December 31, 2024			2,067			$	15.23				598			$	15.00				7			$	15.50
Vested and expected to vest    as of December 31, 2024			2,067			$	15.23				598			$	15.00				—			$	—

Summary of weighted-average assumptions used to calculate estimated value of stock options

Black-Scholes-Merton weighted-average assumptions used in calculating the estimated value of stock options granted by Innoviva on the dates of grant were as follows:

		Year Ended December 31,
		2024				2023				2022
Risk-free interest rate			4.2	%			4.0	%			3.6	%
Expected term (in years)			6.10				6.09				6.04
Volatility			35.5	%			37.8	%			38.6	%
Dividend yield			0.0	%			0.0	%			0.0	%
Weighted-average estimated fair value of stock options granted		$	8.17			$	5.57			$	6.43

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (i)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration