For the quarter ending 2026-03-31, INVA had $52,144K increase in cash & cash equivalents over the period. $34,790K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income (loss) | 186,595 | 164,153 | 89,908 | 17,104 |
| Changes in fair values of equity and long-term investments, net | - | - | 31,510 | -54,019 |
| Deferred income taxes | 41,038 | 39,775 | 4,949 | -877 |
| Amortization of capitalized fees and depreciation of property and equipment | 3,487 | 3,487 | 3,488 | 6,976 |
| Amortization of acquired intangible assets | 6,554 | 6,637 | 6,618 | 13,022 |
| Inventory fair value step-up adjustment included in cost of products sold | 1,149 | 732 | 3,484 | 625 |
| Stock-based compensation | 2,567 | 2,503 | 2,380 | 4,569 |
| Amortization of debt discount and issuance costs | 364 | 354 | 455 | 1,078 |
| Changes in fair values of equity method investments, net | 157,650 | 111,149 | 30,751 | -467 |
| Changes in fair values of equity and long-term investments, net | 33,575 | 20,160 | - | - |
| Acquired in-process research and development assets | - | 0 | 9,368 | - |
| Other non-cash items | -1,026 | -1,495 | 21 | -423 |
| Accounts receivable | -961 | 4,799 | 9,242 | 533 |
| Receivables from collaboration arrangement | - | - | -3,984 | 1,362 |
| Receivable from collaboration arrangement | 271 | -7,623 | - | - |
| Inventory | 1,310 | 2,620 | -6,847 | 17,146 |
| Prepaid expenses | -1,879 | 7,306 | 2,805 | -4,453 |
| Other assets | 8,365 | 2,079 | -227 | -774 |
| Accounts payable | 1,552 | -1,277 | 861 | 3,250 |
| Accrued personnel-related expenses and other accrued liabilities | -9,797 | 8,778 | -16,500 | 1,932 |
| Accrued interest payable | -1,387 | 1,387 | -3,187 | -4 |
| Income tax payable | 1,058 | 1,411 | 728 | 1,921 |
| Deferred revenue | -593 | -9,301 | 10,446 | 1,999 |
| Net cash provided by operating activities | 35,282 | 54,513 | 49,727 | 92,690 |
| Cash paid for in-process research and development assets acquired | - | 0 | 9,368 | - |
| Sale of property and equipment | - | 12 | 0 | 0 |
| Proceeds from trading securities | - | 3,330 | 0 | 5,097 |
| Acquisition of intangible asset | - | 0 | - | - |
| Purchases of equity and long-term investments | - | 17,500 | - | - |
| Purchases of trading securities | 10,000 | 11,225 | 15,000 | 34,674 |
| Purchases of equity investments managed by isp fund lp | 2,457 | 0 | 0 | 0 |
| Sales of equity investments managed by isp fund lp | 43,292 | 8,225 | 0 | 19,939 |
| Purchases and sales of other investments managed by isp fund lp, net | -6,665 | -40,804 | -43,901 | -8,086 |
| Purchases of property and equipment | 492 | 10 | 1,121 | - |
| Net cash provided by (used in) investing activities | 37,008 | 23,636 | 18,412 | -1,552 |
| Repurchase of common stock | 20,247 | 4,532 | 0 | 0 |
| Repurchase of shares to satisfy tax withholding | 158 | 27 | 25 | 91 |
| Proceeds from issuances of common stock, net | 259 | 838 | 194 | 1,521 |
| Proceeds from exercise of warrants | - | 0 | 10,698 | - |
| Payment for repurchase of convertible notes-Convertible Subordinated Notes2023 | - | 0 | - | - |
| Payment for repurchase of convertible subordinated notes due 2025 | - | - | 25 | - |
| Payment for repurchase of convertible notes-Convertible Senior Notes2025 | - | 25 | - | - |
| Net cash provided by (used in) financing activities | -20,146 | -3,721 | 10,842 | 1,430 |
| Net increase in cash and cash equivalents | 52,144 | 74,428 | 78,981 | 92,568 |
| Cash and cash equivalents at beginning of period | 550,941 | 476,513 | 304,964 | - |
| Cash and cash equivalents at end of period | 603,085 | 550,941 | 476,513 | - |
Innoviva, Inc. (INVA)
Innoviva, Inc. (INVA)