XML 37 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
Total revenue $ 358,711 $ 310,463 $ 331,339
Expenses:      
Selling, general and administrative 115,690 98,232 63,538
Research and development 13,654 33,922 41,432
Amortization of acquired intangible assets 25,902 21,784 5,581
Gain on sale of Theravance Respiratory Company, LLC ("TRC") 0 0 (266,696)
Loss on extinguishment of debt 0 0 20,662
Changes in fair values of equity method investments, net 64,253 (77,392) 161,749
Changes in fair value of equity and long-term investments, net 59,161 (11,129) (8,462)
Interest and dividend income (19,141) (15,818) (6,369)
Interest expense 22,209 19,157 15,789
Other expense, net 2,997 4,969 3,373
Total expenses, net 321,323 116,365 44,390
Income before income taxes 37,388 194,098 286,949
Income tax expense, net 13,996 14,376 66,687
Net income 23,392 179,722 220,262
Net loss attributable to noncontrolling interests 0 0 6,341
Net income attributable to Innoviva stockholders $ 23,392 $ 179,722 $ 213,921
Basic net income per share attributable to Innoviva stockholders $ 0.37 $ 2.75 $ 3.07
Diluted net income per share attributable to Innoviva stockholders $ 0.36 $ 2.2 $ 2.37
Shares used to compute Innoviva basic and diluted net income per share:      
Shares used to compute basic net income per share 62,726 65,435 69,644
Shares used to compute diluted net income per share 74,187 86,876 95,248
Royalty revenue      
Revenue:      
Total revenue $ 241,733 $ 238,846 $ 311,645
Net product sales      
Revenue:      
Total revenue 97,492 60,617 19,694
Expenses:      
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding amortization of intangible assets) 36,598 41,040 13,793
License and other revenue      
Revenue:      
Total revenue 19,486 11,000 0
License      
Expenses:      
Cost of license revenue $ 0 $ 1,600 $ 0