INVA Innoviva, Inc. - Common Stock
$21.63
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$17–$25
59% of range
Analyst Rating
BUY
11 analysts
Price Target
$35
+62% upside
P/E (TTM)
6.1
ROE
—
Net Profit Margin
—
INVA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$21.63
Market Cap
—
P/E (TTM)
6.1
EPS (TTM)
$3.30
Revenue (TTM)
$411M
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$17 – $25
INVA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$411M
2016-12-31
→
2025-12-31
EPS
$3.30
2016-12-31
→
2025-12-31
Free Cash Flow
—
2016-12-31
→
2021-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
INVA
Peer Median
P/E (TTM)
6.1
22.4
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
INVA
Peer Median
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
INVA
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
INVA
Peer Median
Revenue YoY
14.7%
—
Revenue CAGR 3Y
7.5%
—
Revenue CAGR 5Y
4.1%
—
EPS YoY
816.7%
—
Net Income YoY
1059.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
INVA
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Sept. 8, 2015 | $0.2500 |
| June 10, 2015 | $0.2500 |
| March 10, 2015 | $0.2500 |
| Nov. 21, 2014 | $0.2500 |
| Aug. 26, 2014 | $0.2500 |
INVA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 4 36.4%
- Buy 5 45.5%
- Hold 1 9.1%
- Sell 1 9.1%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-18
Median
$38.00
Mean
$35.00
Now
$21.63
Low
$18.00
High
$46.00
Median target
$38.00
+75.7%
Mean target
$35.00
+61.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.14%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-1.14 | $0.44 | -1.6% |
| March 31, 2026 | $-0.05 | $0.40 | -0.45% |
| Dec. 31, 2025 | $1.94 | $0.56 | 1.4% |
| Sept. 30, 2025 | $1.08 | $0.49 | 0.59% |
| June 30, 2025 | $0.77 | $0.51 | 0.26% |
| March 31, 2025 | $-0.74 | $0.30 | -1.0% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| INVA | — | 6.1 | 14.7% | — | — | — |
| ANIP | $1.78B | 23.8 | 43.8% | 8.9% | 16.6% | — |
| ETON | $457M | — | 104.9% | -5.8% | -18.4% | 53.5% |
| AVLN | — | — | — | — | — | — |
| MAZE | $2.04B | -13.6 | — | — | -598.9% | — |
| LBRX | $563M | -7.1 | — | — | -25.5% | — |
| HROW | $1.82B | -350.0 | 36.4% | -1.9% | -8.4% | 75.0% |
| XERS | $1.30B | — | 43.7% | 0.19% | -19.7% | — |
| PAHC | — | 21.5 | 27.4% | 3.7% | 17.8% | 30.9% |
| SPTX | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $411M | $359M | $310M | $331M | $392M | $337M | $261M | $261M | $217M | $134M | $54M | $8M | |
| Gross Profit | $308M | $296M | $246M | · | · | · | · | · | · | · | · | · | |
| R&D Expense | $31M | $14M | $34M | $41M | $576.0K | $2M | $0 | $0 | $1M | $1M | $3M | $7M | |
| SG&A Expense | $113M | $116M | $98M | $64M | $16M | $14M | $15M | $20M | $32M | $23M | $20M | $35M | |
| Operating Expenses | $144M | $129M | $132M | $44M | $-53M | $-17M | $15M | $23M | $34M | $25M | $22M | $42M | |
| Operating Income | $164M | $167M | $114M | · | $375M | $321M | $246M | $238M | $184M | $109M | $32M | $-34M | |
| Interest Expense | $17M | $22M | $19M | $16M | $19M | $18M | $19M | $24M | $44M | $52M | $52M | $37M | |
| Interest Income | $21M | $19M | $16M | $6M | $2M | $2M | $6M | · | · | · | · | · | |
| Other Non-op | $-3M | $-3M | $-5M | $-3M | $-4M | $-348.0K | $-345.0K | $-6M | $-7M | $2M | $1M | $-3M | |
| Pretax Income | $327M | $37M | $194M | $287M | $445M | $354M | $233M | $210M | $134M | $60M | $-19M | $-74M | |
| Income Tax | $56M | $14M | $14M | $67M | $76M | $60M | $42M | $-196M | $4.0K | $95.0K | $0 | $0 | |
| Net Income | $271M | $23M | $180M | $220M | $369M | $294M | $191M | $406M | $134M | $60M | $-19M | · | |
| EPS (Basic) | $4.02 | $0.37 | $2.75 | $3.07 | $3.24 | $2.21 | $1.55 | $3.92 | $1.25 | $0.54 | $-0.16 | $-1.50 | |
| EPS (Diluted) | $3.30 | $0.36 | $2.20 | $2.37 | $2.87 | $2.02 | $1.43 | $3.53 | $1.17 | $0.53 | $-0.16 | $-1.50 | |
| Shares (Basic) | 67,395,000 | 62,726,000 | 65,435,000 | 69,644,000 | 82,062,000 | 101,320,000 | 101,150,000 | 100,849,000 | 106,945,000 | 110,280,000 | 115,372,000 | 112,059,000 | |
| Shares (Diluted) | 84,760,000 | 74,187,000 | 86,876,000 | 95,248,000 | 94,310,000 | 113,554,000 | 113,409,000 | 113,408,000 | 119,866,000 | 123,233,000 | 115,372,000 | 112,059,000 | |
| EBITDA | · | · | · | · | $389M | $335M | · | $252M | $198M | $123M | $46M | $-22M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $551M | $305M | $194M | $291M | $202M | $246M | $278M | $62M | $73M | $118M | $159M | $97M | |
| Short-term Investments | · | · | · | · | $0 | · | · | · | · | · | · | · | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Inventory | $39M | $34M | $41M | $56M | $0 | · | · | · | · | · | · | $0 | |
| Prepaid Expense | $27M | $21M | $22M | $30M | $1M | $2M | $962.0K | $849.0K | $754.0K | $766.0K | $814.0K | $1M | |
| Other Current Assets | $2M | $656.0K | $4M | $3M | $70.0K | · | · | · | · | · | · | · | |
| Current Assets | $728M | $554M | $344M | $444M | $314M | $342M | $431M | $199M | $200M | $198M | $214M | $252M | |
| PP&E (Net) | $2M | $514.0K | $483.0K | $170.0K | $12.0K | $28.0K | $33.0K | $160.0K | $209.0K | $368.0K | $221.0K | $324.0K | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | · | $324.0K | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Goodwill | $18M | $18M | $18M | $27M | $0 | · | · | · | · | · | · | · | |
| Intangibles | $182M | $208M | $230M | $253M | $0 | · | · | · | · | · | · | · | |
| Other Non-current Assets | $41M | $41M | $3M | $4M | $11.0K | $214.0K | $312.0K | $37.0K | $37.0K | $37.0K | $18.0K | $18M | |
| Total Assets | $1.64B | $1.30B | $1.24B | $1.23B | $926M | $1000M | $725M | $548M | $367M | $379M | $409M | $522M | |
| Accounts Payable | $5M | $2M | $7M | $3M | $27.0K | $66.0K | $10.0K | $11.0K | $601.0K | $128.0K | $818.0K | $0 | |
| Current Liabilities | $50M | $236M | $38M | $135M | $6M | $6M | $5M | $6M | $35M | $20M | $13M | $14M | |
| Capital Leases | $11M | $1M | $2M | $2M | $0 | · | · | $0 | · | · | · | · | |
| Deferred Tax | $32M | $0 | $563.0K | $6M | $0 | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $66M | $64M | $72M | $71M | $0 | $106.0K | $219.0K | $586.0K | $940.0K | $1M | $2M | $2M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | $716M | $748M | $726M | |
| Total Debt | · | · | · | · | $395M | $386M | · | $383M | $574M | $716M | · | · | |
| Common Stock | $747.0K | $627.0K | $633.0K | $692.0K | $696.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Retained Earnings | $269M | $-2M | $-25M | $-205M | $-456M | $-722M | $-946M | $-1.10B | $-1.50B | $-1.63B | $-1.69B | $-1.67B | |
| Treasury Stock | · | $0 | $394M | $394M | $394M | $0 | · | $0 | $3M | $3M | $3M | $3M | |
| AOCI | · | · | · | · | · | $0 | $27.0K | $-3.0K | $-18.0K | $1.0K | $-2.0K | $-87.0K | |
| Stockholders' Equity | $1.17B | $691M | $675M | $566M | $526M | $608M | $313M | $154M | $-243M | $-353M | $-343M | $-223M | |
| Liabilities + Equity | $1.64B | $1.30B | $1.24B | $1.23B | $926M | $1000M | $725M | $548M | $367M | $379M | $409M | $522M | |
| Shares Outstanding | 74,636,000 | 62,665,000 | 63,307,000 | 69,188,000 | 69,566,000 | 101,392,000 | 101,288,000 | 101,098,000 | 102,046,000 | 108,585,000 | 114,933,000 | 116,445,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $12M | |
| Stock-based Comp | $9M | $6M | $6M | $7M | $2M | $2M | $2M | $3M | $10M | $8M | $7M | $27M | |
| Deferred Tax | $44M | $-13M | $4M | $25M | $76M | $60M | $42M | $-196M | $0 | $0 | · | · | |
| Amort. of Intangibles | $26M | $26M | $22M | $6M | $0 | $0 | · | · | · | · | · | · | |
| Other Non-cash | · | · | · | · | $-97M | $-57M | · | $-4M | $-16M | · | · | · | |
| Operating Cash Flow | $197M | $189M | $141M | $202M | $364M | $313M | $257M | $224M | $142M | $61M | $10M | $-131M | |
| CapEx | $1M | $270.0K | $411.0K | $67.0K | $0 | $13.0K | $12.0K | $0 | $0 | $278.0K | $7.0K | $689.0K | |
| Investing Cash Flow | $40M | $-64M | $-67M | $-57M | $44M | $-315M | $-18M | $4M | $-23M | $-5M | $159M | $-65M | |
| Stock Issued | $3M | $1M | $170.0K | $370.0K | $1M | $436.0K | $627.0K | $1M | $435.0K | $385.0K | $8M | $55M | |
| Stock Repurchased | $5M | $15M | $76M | $9M | $394M | $0 | $0 | $0 | $98M | $78M | $26M | $0 | |
| Net Stock Activity | · | · | · | · | $-393M | $436.0K | · | $1M | $-97M | $-78M | $-20M | $49M | |
| Dividends Paid | · | · | · | · | $0 | $0 | $11.0K | $80.0K | $281.0K | $960.0K | $87M | $57M | |
| Financing Cash Flow | $9M | $-13M | $-172M | $-56M | $-452M | $-30M | $-24M | $-238M | $-163M | $-98M | $-107M | $149M | |
| Net Change in Cash | $246M | $111M | $-98M | $90M | $-45M | $-32M | $216M | $-11M | $-45M | $-41M | $62M | $-47M | |
| Taxes Paid | $19M | $12M | $0 | $54M | $0 | $0 | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | · | $364M | $313M | · | $224M | $142M | $61M | $10M | $-131M | |
| Levered FCF | · | · | · | · | $348M | $298M | · | $177M | · | · | $-42M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | 95.7% | 95.3% | · | 91.3% | 84.5% | 81.6% | 58.5% | -402.3% | |
| Net Margin | · | · | · | · | 94.1% | 87.2% | · | 155.7% | 61.8% | · | · | · | |
| Pretax Margin | · | · | · | · | 113.6% | 105.2% | · | 80.6% | · | 44.6% | -34.8% | · | |
| EBITDA Margin | · | · | · | · | 99.2% | 99.5% | · | 96.6% | 91.0% | 92.0% | 84.4% | -258.0% | |
| ROA | · | · | · | · | 38.3% | 34.1% | · | 88.8% | 36.0% | · | · | · | |
| ROE | · | · | · | · | 72.1% | 68.9% | · | -910.3% | -45.1% | · | · | · | |
| ROIC | · | · | · | · | 38.4% | 28.8% | · | 85.8% | · | · | -9.2% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | · | · | 54.0 | 56.0 | · | 34.9 | 5.8 | 9.9 | 15.9 | 18.3 | |
| Quick Ratio | · | · | · | · | 34.7 | 40.3 | · | 11.0 | 2.1 | 5.9 | 11.8 | 7.0 | |
| Debt / Equity | · | · | · | · | 1.0 | 0.7 | · | 2.5 | -2.4 | -2.0 | · | · | |
| LT Debt / Equity | · | · | · | · | 1.0 | 0.7 | · | 2.5 | -2.4 | -2.0 | · | · | |
| Interest Coverage | · | · | · | · | 19.7 | 17.5 | · | 9.9 | 4.2 | 2.1 | 0.6 | -0.9 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | · | 0.4 | 0.4 | · | 0.6 | 0.6 | 0.3 | 0.1 | 0.0 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | 84.8 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 14.7% | 15.5% | -6.3% | -15.4% | 16.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 7.5% | -2.9% | -2.7% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 4.1% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 816.7% | -83.6% | -7.2% | -17.4% | 42.1% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 11.7% | -49.9% | 2.9% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 10.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 1059.2% | -87.0% | -18.4% | -40.3% | 25.5% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 7.2% | -60.1% | -15.1% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -1.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $411M | $359M | $310M | $331M | $392M | $337M | $261M | $261M | $217M | $134M | $54M | $8M | |
| Net Income TTM | $271M | $23M | $180M | $220M | $369M | $294M | $191M | $406M | $134M | $60M | $-19M | · | |
| Market Cap | · | · | · | · | $1.20B | $1.26B | · | $1.76B | $1.45B | $1.16B | $1.21B | · | |
| Enterprise Value | · | · | · | · | $1.39B | $1.40B | · | $2.08B | $1.95B | $1.76B | · | · | |
| P/E | 6.1 | 48.2 | 7.3 | 5.6 | 6.0 | 6.1 | 9.9 | 4.9 | 12.1 | 20.2 | -65.9 | -9.4 | |
| P/S | · | · | · | · | 3.1 | 3.7 | · | 6.8 | 6.7 | 8.7 | 22.5 | · | |
| P/B | · | · | · | · | 2.9 | 2.3 | · | 11.5 | -6.0 | -3.3 | -3.5 | · | |
| P / Tangible Book | 1.5 | 2.3 | 2.4 | 3.2 | 2.3 | 2.1 | · | · | · | · | · | · | |
| P / Cash Flow | · | · | · | · | 3.3 | 4.0 | · | 7.9 | 10.2 | 19.1 | 119.6 | · | |
| P / FCF | · | · | · | · | 3.3 | 4.0 | · | 7.9 | 10.2 | 19.1 | 119.7 | · | |
| EV / EBITDA | · | · | · | · | 3.6 | 4.2 | · | 8.3 | 9.9 | 14.3 | · | · | |
| EV / FCF | · | · | · | · | 3.8 | 4.5 | · | 9.3 | 13.8 | 29.0 | · | · | |
| EV / Revenue | · | · | · | · | 3.6 | 4.1 | · | 8.0 | 9.0 | 13.2 | · | · | |
| Dividend Yield | · | · | · | · | 0.00% | 0.00% | · | 0.00% | 0.02% | 0.08% | 7.2% | · | |
| Earnings Yield | 16.5% | 2.1% | 13.7% | 17.9% | 16.6% | 16.3% | 10.1% | 20.2% | 8.2% | 5.0% | -1.5% | -10.6% | |
| Payout Ratio | · | · | · | · | 0.00% | 0.00% | · | 0.02% | 0.21% | · | · | · | |
| Annual Payout | · | · | · | · | $0 | $0 | $11.0K | $80.0K | $281.0K | $960.0K | $87M | $57M |
Income Statement 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $120M | $98M | $115M | $108M | $100M | $89M | $92M | $90M | $100M | $77M | $86M | $67M | $81M | $76M | $66M | $67M | |
| Gross Profit | $91M | $76M | $76M | $76M | $83M | $73M | $78M | $73M | $85M | $60M | · | · | · | · | · | · | |
| R&D Expense | $5M | $5M | $5M | $14M | $8M | $4M | $4M | $4M | $3M | $4M | $2M | $4M | $15M | $13M | $10M | $12M | |
| SG&A Expense | $35M | $32M | $32M | $27M | $26M | $27M | $31M | $26M | $28M | $30M | $26M | $29M | $24M | $20M | $17M | $28M | |
| Operating Expenses | $40M | $38M | $37M | $41M | $34M | $32M | $35M | $30M | $30M | $34M | $40M | $-19M | $75M | $35M | $130M | $-219M | |
| Operating Income | $51M | $38M | $39M | $35M | $49M | $41M | $43M | $43M | $55M | $26M | · | · | · | · | · | · | |
| Interest Expense | $5M | $5M | $3M | $4M | $5M | $5M | $5M | $6M | $6M | $6M | $6M | $4M | $4M | $4M | $4M | $5M | |
| Interest Income | $8M | $11M | $6M | $5M | $5M | $5M | $6M | $6M | $3M | $4M | $5M | $4M | $4M | $3M | $3M | $2M | |
| Other Non-op | $-15.0K | $-366.0K | $-612.0K | $-479.0K | $-777.0K | $-996.0K | $126.0K | $-914.0K | $-973.0K | $-1M | $-680.0K | $-1M | $-2M | $-1M | $-3M | $28.0K | |
| Pretax Income | $-108M | $235M | $195M | $98M | $73M | $-39M | $25M | $7M | $-39M | $45M | $61M | $86M | $6M | $41M | $-65M | $286M | |
| Income Tax | $-25M | $48M | $31M | $8M | $9M | $8M | $4M | $6M | $-5M | $9M | $-330.0K | $4M | $5M | $6M | $4M | $57M | |
| Net Income | $-83M | $187M | $164M | $90M | $64M | $-47M | $20M | $1M | $-35M | $37M | $62M | $82M | $1M | $35M | $-68M | $229M | |
| EPS (Basic) | $-1.14 | $2.52 | $2.45 | $1.30 | $1.01 | $-0.74 | $0.32 | $0.02 | $-0.55 | $0.58 | $0.96 | $1.26 | $0.02 | $0.51 | $-0.98 | $3.81 | |
| EPS (Diluted) | $-1.14 | $2.22 | $2.19 | $1.08 | $0.77 | $-0.74 | $0.43 | $0.02 | $-0.55 | $0.46 | $0.78 | $0.98 | $0.02 | $0.42 | $-0.68 | $2.80 | |
| Shares (Basic) | 73,421,000 | 74,160,000 | -127,237,000 | 69,058,000 | 62,865,000 | 62,709,000 | -125,554,000 | 62,569,000 | 62,526,000 | 63,185,000 | -132,645,000 | 64,953,000 | 65,341,000 | 67,786,000 | -139,274,000 | 69,731,000 | |
| Shares (Diluted) | 73,421,000 | 84,849,000 | -147,365,000 | 84,964,000 | 84,452,000 | 62,709,000 | -135,821,000 | 62,951,000 | 62,526,000 | 84,531,000 | -154,565,000 | 86,164,000 | 65,489,000 | 89,788,000 | -189,965,000 | 95,830,000 | |
| EBITDA | $51M | $38M | · | $35M | $49M | $41M | · | · | · | · | · | · | · | · | · | · |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $570M | $603M | $551M | $477M | $398M | $319M | $305M | $261M | $217M | $178M | · | $180M | $173M | $144M | · | $301M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $282.0K | |
| Inventory | $39M | $39M | $39M | $38M | $49M | $41M | $34M | $34M | $37M | $37M | · | $41M | $47M | $50M | · | $71M | |
| Prepaid Expense | $24M | $25M | $27M | $19M | $17M | $15M | $21M | $13M | $8M | $17M | · | $15M | $21M | $24M | · | $8M | |
| Other Current Assets | $313.0K | $4M | $2M | $171.0K | $181.0K | $313.0K | $656.0K | $2M | $2M | $3M | · | $2M | $2M | $3M | · | $2M | |
| Current Assets | $753M | $773M | $728M | $685M | $652M | $582M | $554M | $401M | $358M | $311M | · | $305M | $324M | $296M | · | $455M | |
| PP&E (Net) | $2M | $2M | $2M | $2M | $451.0K | $483.0K | $514.0K | $544.0K | $427.0K | $324.0K | · | $361.0K | $161.0K | $180.0K | · | $165.0K | |
| Goodwill | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | · | $18M | $15M | $28M | · | $16M | |
| Intangibles | $169M | $176M | $182M | $189M | $195M | $202M | $208M | $211M | $217M | $224M | · | $237M | $243M | $248M | · | $258M | |
| Other Non-current Assets | $40M | $41M | $41M | $41M | $41M | $41M | $41M | $3M | $3M | $3M | · | $3M | $4M | $4M | · | $5M | |
| Total Assets | $1.70B | $1.84B | $1.64B | $1.43B | $1.33B | $1.25B | $1.30B | $1.23B | $1.22B | $1.27B | · | $1.19B | $1.12B | $1.13B | · | $1.33B | |
| Accounts Payable | $4M | $7M | $5M | $6M | $5M | $5M | $2M | $4M | $2M | $890.0K | · | $4M | $5M | $6M | · | $4M | |
| Current Liabilities | $47M | $37M | $50M | $48M | $247M | $235M | $236M | $224M | $28M | $30M | · | $36M | $39M | $38M | · | $164M | |
| Capital Leases | $10M | $11M | $11M | $905.0K | $1M | $1M | $1M | $2M | $2M | $1M | · | $2M | $2M | $2M | · | $3M | |
| Deferred Tax | $37M | $73M | $32M | · | · | · | $0 | $0 | $0 | $4M | · | $0 | $0 | $5M | · | · | |
| Other Non-current Liabilities | $67M | $69M | $66M | $57M | $60M | $62M | $64M | $71M | $72M | $72M | · | $69M | $69M | $70M | · | $78M | |
| Total Debt | $258M | $258M | · | $257M | $257M | $257M | · | $256M | $447M | $447M | · | $446M | $445M | $445M | · | $444M | |
| Common Stock | $727.0K | $738.0K | $747.0K | $748.0K | $630.0K | $628.0K | $627.0K | $626.0K | $626.0K | $628.0K | · | $644.0K | $653.0K | $659.0K | · | $698.0K | |
| Retained Earnings | $373M | $456M | $269M | $105M | $15M | $-48M | $-2M | $-22M | $-23M | $11M | · | $-87M | $-169M | $-170M | · | $-137M | |
| Treasury Stock | · | · | · | · | · | · | · | $0 | $0 | $394M | · | $394M | $394M | $394M | · | $394M | |
| Stockholders' Equity | $1.23B | $1.34B | $1.17B | $1.01B | $715M | $647M | $691M | $669M | $666M | $704M | · | $627M | $555M | $561M | $566M | $641M | |
| Liabilities + Equity | $1.70B | $1.84B | $1.64B | $1.43B | $1.33B | $1.25B | $1.30B | $1.23B | $1.22B | $1.27B | · | $1.19B | $1.12B | $1.13B | · | $1.33B | |
| Shares Outstanding | 72,637,000 | 73,808,000 | 74,636,000 | 74,769,000 | 63,011,000 | 62,771,000 | 62,665,000 | 62,601,000 | 62,562,000 | 62,797,000 | 63,307,000 | 64,384,000 | 65,225,000 | 65,824,000 | 69,188,000 | 69,776,000 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $5M | |
| Stock-based Comp | $5M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $2M | $2M | $1M | $4M | |
| Deferred Tax | $-36M | $41M | $40M | $5M | $-637.0K | $-240.0K | $3M | $-3M | $-15M | $3M | $6M | $-2M | $1M | $-812.0K | $-4M | $23M | |
| Amort. of Intangibles | $7M | $7M | $7M | $7M | $6M | $6M | $7M | $6M | $6M | $6M | $7M | $7M | $5M | $4M | $4M | $2M | |
| Operating Cash Flow | $52M | $35M | $55M | $50M | $44M | $49M | $59M | $49M | $44M | $37M | $33M | $44M | $38M | $26M | $9M | $16M | |
| CapEx | $429.0K | $492.0K | $10.0K | $1M | $0 | $0 | $0 | $270.0K | $0 | $0 | $151.0K | $227.0K | $0 | $33.0K | $34.0K | $11.0K | |
| Investing Cash Flow | $-55M | $37M | $24M | $18M | $33M | $-35M | $-15M | $-5M | $0 | $-43M | $-5M | $-26M | $0 | $-36M | $-9M | $98M | |
| Stock Issued | $2M | $259.0K | $838.0K | $194.0K | $1M | $250.0K | $592.0K | $229.0K | $157.0K | $488.0K | $59.0K | $0 | $111.0K | $0 | $28.0K | $1.0K | |
| Stock Repurchased | $31M | $20M | $5M | $0 | $0 | $0 | $0 | $0 | $5M | $10M | $15M | $11M | $9M | $41M | $9M | $0 | |
| Net Stock Activity | · | $-20M | · | · | · | $250.0K | · | · | · | $-9M | · | · | · | $-41M | · | · | |
| Financing Cash Flow | $-29M | $-20M | $-4M | $11M | $1M | $183.0K | $573.0K | $211.0K | $-5M | $-9M | $-15M | $-11M | $-9M | $-137M | $-10M | $-96M | |
| Net Change in Cash | $-33M | $52M | $74M | $79M | $78M | $14M | $44M | $44M | $39M | $-15M | $14M | $7M | $29M | $-147M | $-10M | $17M | |
| Taxes Paid | $12M | $670.0K | $6M | $1M | $12M | $0 | $0 | $12M | · | · | $0 | · | · | · | $50M | · | |
| Free Cash Flow | · | $35M | · | · | · | · | · | · | · | $37M | · | · | · | $26M | · | · | |
| Levered FCF | · | $30M | · | · | · | · | · | · | · | $32M | · | · | · | $22M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.8% | 77.4% | · | 70.1% | 82.9% | 82.7% | · | · | · | · | · | · | · | · | · | · | |
| Operating Margin | 42.5% | 38.9% | · | 32.1% | 48.6% | 46.7% | · | · | · | · | · | · | · | · | · | · | |
| Net Margin | -69.8% | 190.4% | · | 83.4% | 63.5% | -52.6% | · | 1.4% | -34.7% | 47.1% | · | 122.0% | 1.6% | 45.6% | · | 341.0% | |
| Pretax Margin | -90.3% | 239.4% | · | 90.7% | 72.4% | -43.5% | · | 7.6% | -39.3% | 58.2% | · | 127.8% | 7.2% | 53.9% | · | 425.9% | |
| EBITDA Margin | 42.5% | 38.9% | · | 32.1% | 48.6% | 46.7% | · | · | · | · | · | · | · | · | · | · | |
| ROA | -5.5% | 12.1% | · | 6.8% | 5.0% | -3.7% | · | 0.10% | -3.0% | 3.0% | · | 6.5% | 0.11% | 3.1% | · | 20.7% | |
| ROE | -8.6% | 18.8% | · | 10.7% | 9.2% | -6.9% | · | 0.19% | -5.7% | 5.8% | · | 12.9% | 0.27% | 7.3% | · | 43.9% | |
| ROIC | 2.6% | 1.9% | · | 2.5% | 4.4% | 5.5% | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 16.0 | 21.1 | · | 14.1 | 2.6 | 2.5 | · | 1.8 | 12.7 | 10.4 | · | 8.4 | 8.2 | 7.8 | · | 2.8 | |
| Quick Ratio | 12.1 | 16.5 | · | 9.8 | 1.6 | 1.4 | · | 1.2 | 7.7 | 6.0 | · | 5.0 | 4.4 | 3.8 | · | 1.8 | |
| Debt / Equity | 0.2 | 0.2 | · | 0.3 | 0.4 | 0.4 | · | 0.4 | 0.7 | 0.6 | · | 0.7 | 0.8 | 0.8 | · | 0.7 | |
| LT Debt / Equity | 0.2 | 0.2 | · | 0.3 | 0.4 | 0.4 | · | 0.4 | 0.7 | 0.6 | · | 0.7 | 0.8 | 0.8 | · | 0.7 | |
| Interest Coverage | 9.3 | 7.0 | · | 8.6 | 10.5 | 8.8 | · | · | · | · | · | · | · | · | · | · |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $426M | $395M | · | $386M | $378M | $356M | · | $334M | $326M | $302M | · | $292M | $333M | $342M | · | $363M | |
| Net Income TTM | $257M | $294M | · | $108M | $-16M | $-44M | · | $85M | $85M | $155M | · | $348M | $287M | $323M | · | $391M | |
| Market Cap | $1.65B | $1.72B | · | $1.36B | $1.27B | $1.14B | · | $1.21B | $1.03B | $957M | · | $836M | $830M | $741M | · | $810M | |
| Enterprise Value | $1.34B | $1.37B | · | $1.15B | $1.13B | $1.08B | · | $1.20B | $1.26B | $1.23B | · | $1.10B | $1.10B | $1.04B | · | $953M | |
| P/E | 7.8 | 7.0 | · | 16.2 | -40.2 | -22.4 | · | 21.2 | 18.0 | 8.1 | · | 3.1 | 3.9 | 3.2 | · | 2.9 | |
| P/S | 3.9 | 4.4 | · | 3.5 | 3.3 | 3.2 | · | 3.6 | 3.2 | 3.2 | · | 2.9 | 2.5 | 2.2 | · | 2.2 | |
| P/B | 1.3 | 1.3 | · | 1.4 | 1.8 | 1.8 | · | 1.8 | 1.5 | 1.4 | · | 1.3 | 1.5 | 1.3 | · | 1.3 | |
| P / Tangible Book | 1.6 | 1.5 | · | 1.7 | 2.5 | 2.7 | · | 2.7 | 2.4 | 2.1 | · | 2.2 | 2.8 | 2.6 | · | 2.2 | |
| P / Cash Flow | · | 48.7 | · | · | · | 23.4 | · | · | · | 25.8 | · | · | · | 28.8 | · | · | |
| P / FCF | · | 49.4 | · | · | · | · | · | · | · | 25.8 | · | · | · | 28.9 | · | · | |
| EV / EBITDA | 26.3 | 36.0 | · | 33.1 | 23.1 | 26.0 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | · | 39.5 | · | · | · | · | · | · | · | 33.1 | · | · | · | 40.6 | · | · | |
| EV / Revenue | 3.1 | 3.5 | · | 3.0 | 3.0 | 3.0 | · | 3.6 | 3.9 | 4.1 | · | 3.8 | 3.3 | 3.0 | · | 2.6 | |
| Earnings Yield | 12.9% | 14.3% | · | 6.2% | -2.5% | -4.5% | · | 4.7% | 5.5% | 12.3% | · | 32.5% | 25.8% | 30.8% | · | 34.0% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $411M | $359M | $310M | $331M | $392M |
| Operating Margin % | — | — | — | — | 95.7% |
| Net Income | $271M | $23M | $180M | $220M | $369M |
| Diluted EPS | $3.30 | $0.36 | $2.20 | $2.37 | $2.87 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 1.0 |
| Current Ratio | — | — | — | — | 54.0 |
| Quick Ratio | — | — | — | — | 34.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | — | $364M |
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Institutional owners (13F) 325 filers · $1.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 49 (0 vs prior Q) | 21 (-13 vs prior Q) | 115 (+8 vs prior Q) | 90 (+3 vs prior Q) | +4.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| DIMENSIONAL FUND ADVISORS LP | $98,004,505 | 4,315,478 | 8.56% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $95,842,400 | 4,220,273 | 8.37% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $91,669,642 | 4,036,532 | 8.00% | Shares |
| STATE STREET CORP | $74,216,371 | 3,268,004 | 6.48% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $71,719,384 | 3,158,053 | 6.26% | Shares |
| MILLENNIUM MANAGEMENT LLC | $57,708,585 | 2,541,109 | 5.04% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $44,856,565 | 1,975,190 | 3.92% | Shares |
| Sarissa Capital Management LP | $42,935,617 | 1,890,604 | 3.75% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $40,923,910 | 1,801,640 | 3.57% | Shares |
| AMERICAN CENTURY COMPANIES INC | $34,020,579 | 1,498,044 | 2.97% | Shares |
| BANK OF AMERICA CORP /DE/ | $31,938,141 | 1,406,347 | 2.79% | Shares |
| ROYCE & ASSOCIATES LP | $26,631,790 | 1,172,690 | 2.33% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $26,146,182 | 1,151,307 | 2.28% | Shares |
| GOLDMAN SACHS GROUP INC | $24,660,085 | 1,085,869 | 2.15% | Shares |
| TWO SIGMA INVESTMENTS, LP | $23,455,047 | 1,032,807 | 2.05% | Shares |
| Qube Research & Technologies Ltd | $22,122,356 | 974,124 | 1.93% | Shares |
| DEUTSCHE BANK AG\ | $18,947,407 | 834,320 | 1.65% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $18,857,793 | 830,374 | 1.65% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $14,583,817 | 642,176 | 1.27% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $14,211,963 | 625,802 | 1.24% | Shares |
| Allianz Asset Management GmbH | $11,029,770 | 485,679 | 0.96% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $10,654,079 | 469,136 | 0.93% | Shares |
| Assenagon Asset Management S.A. | $10,088,282 | 444,222 | 0.88% | Shares |
| Integrated Wealth Concepts LLC | $7,961,570 | 350,575 | 0.70% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $7,954,246 | 350,253 | 0.69% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $7,725,215 | 340,168 | 0.67% | Shares |
| Balyasny Asset Management L.P. | $6,486,203 | 285,610 | 0.57% | Shares |
| Baird Financial Group, Inc. | $6,229,194 | 274,293 | 0.54% | Shares |
| Edgestream Partners, L.P. | $6,116,893 | 269,348 | 0.53% | Shares |
| Uniplan Investment Counsel, Inc. | $6,000,241 | 264,211 | 0.52% | Shares |
| Public Sector Pension Investment Board | $5,471,021 | 240,908 | 0.48% | Shares |
| MARSHALL WACE, LLP | $5,246,010 | 231,000 | 0.46% | Shares |
| ASSETMARK, INC | $5,162,437 | 227,320 | 0.45% | Shares |
| FRANKLIN RESOURCES INC | $4,952,006 | 218,054 | 0.43% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $4,942,741 | 217,646 | 0.43% | Shares |
| AMERIPRISE FINANCIAL INC | $4,774,551 | 210,240 | 0.42% | Shares |
| PRUDENTIAL FINANCIAL INC | $4,449,048 | 195,907 | 0.39% | Shares |
| RHUMBLINE ADVISERS | $4,161,331 | 183,239 | 0.36% | Shares |
| BARCLAYS PLC | $3,807,876 | 167,674 | 0.33% | Shares |
| D. E. Shaw & Co., Inc. | $3,775,651 | 166,255 | 0.33% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $3,749,762 | 165,115 | 0.33% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $3,741,654 | 164,758 | 0.33% | Shares |
| MORGAN STANLEY | $3,616,901 | 159,264 | 0.32% | Shares |
| CITADEL ADVISORS LLC | $3,354,403 | 147,706 | 0.29% | Shares |
| Swiss National Bank | $3,206,652 | 141,200 | 0.28% | Shares |
| TWO SIGMA ADVISERS, LP | $3,139,030 | 157,030 | 0.27% | Shares |
| Susquehanna Portfolio Strategies, LLC | $2,864,321 | 126,126 | 0.25% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $2,719,590 | 119,753 | 0.24% | Shares |
| Freestone Grove Partners LP | $2,699,697 | 118,877 | 0.24% | Shares |
| QRG CAPITAL MANAGEMENT, INC. | $2,697,199 | 118,767 | 0.24% | Shares |
| JANE STREET GROUP, LLC | $2,553,649 | 112,446 | 0.22% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $2,466,260 | 108,598 | 0.22% | Shares |
| Legal & General Group Plc | $2,453,111 | 108,019 | 0.21% | Shares |
| HUSSMAN STRATEGIC ADVISORS, INC. | $2,384,550 | 105,000 | 0.21% | Shares |
| NewEdge Wealth, LLC | $2,256,625 | 99,367 | 0.20% | Shares |
| Brandywine Global Investment Management, LLC | $2,233,103 | 111,711 | 0.19% | Shares |
| Aquatic Capital Management LLC | $2,112,802 | 93,034 | 0.18% | Shares |
| Orion Porfolio Solutions, LLC | $2,105,385 | 92,707 | 0.18% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $2,021,326 | 89,006 | 0.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,911,043 | 82,019 | 0.17% | Shares |
| JAMES INVESTMENT RESEARCH, INC. | $1,853,340 | 81,609 | 0.16% | Shares |
| Synergy Asset Management, LLC | $1,841,259 | 81,077 | 0.16% | Shares |
| KLP KAPITALFORVALTNING AS | $1,782,735 | 78,500 | 0.16% | Shares |
| Gotham Asset Management, LLC | $1,780,146 | 78,386 | 0.16% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,755,142 | 77,285 | 0.15% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,735,104 | 74,468 | 0.15% | Shares |
| Linden Thomas Advisory Services, LLC | $1,708,133 | 75,215 | 0.15% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,676,634 | 73,828 | 0.15% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $1,647,134 | 72,529 | 0.14% | Shares |
| CREDIT AGRICOLE S A | $1,565,400 | 68,930 | 0.14% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $1,544,280 | 68,000 | 0.13% | Shares |
| Empowered Funds, LLC | $1,532,017 | 67,460 | 0.13% | Shares |
| Vanguard Global Advisers, LLC | $1,473,606 | 64,888 | 0.13% | Shares |
| FMR LLC | $1,473,561 | 64,886 | 0.13% | Shares |
| Orion Portfolio Solutions, LLC | $1,473,334 | 81,265 | 0.13% | Shares |
| Nuveen, LLC | $1,452,100 | 63,941 | 0.13% | Shares |
| BlackRock, Inc. | $1,421,215 | 62,581 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,420,624 | 62,555 | 0.12% | Shares |
| Oliver Luxxe Assets LLC | $1,338,913 | 58,957 | 0.12% | Shares |
| Boston Partners | $1,291,000 | 56,847 | 0.11% | Shares |
| JENNISON ASSOCIATES LLC | $1,218,414 | 53,651 | 0.11% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $1,198,929 | 52,793 | 0.10% | Shares |
| Headlands Technologies LLC | $1,113,539 | 49,033 | 0.10% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,077,294 | 47,437 | 0.09% | Shares |
| Cetera Investment Advisers | $1,074,842 | 47,329 | 0.09% | Shares |
| QSV Equity Investors LLC | $1,070,884 | 53,571 | 0.09% | Shares |
| Horizon Investments, LLC | $1,062,828 | 46,800 | 0.09% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $1,039,255 | 45,762 | 0.09% | Shares |
| Quantinno Capital Management LP | $1,003,260 | 44,177 | 0.09% | Shares |
| MetLife Investment Management, LLC | $1,001,329 | 44,092 | 0.09% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $920,981 | 40,554 | 0.08% | Shares |
| MML INVESTORS SERVICES, LLC | $903,767 | 39,796 | 0.08% | Shares |
| Kendall Capital Management | $876,152 | 38,580 | 0.08% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $870,838 | 38,346 | 0.08% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $842,541 | 37,100 | 0.07% | Shares |
| AXQ CAPITAL, LP | $826,621 | 36,399 | 0.07% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $808,817 | 35,615 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $790,603 | 34,813 | 0.07% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $790,512 | 34,809 | 0.07% | Shares |
| Illinois Municipal Retirement Fund | $786,902 | 34,650 | 0.07% | Shares |
Company insiders 52 insiders · 22 officers · 28 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Pavel Raifeld | Chief Executive Officer | May 20, 2026 F | 285,929 | 0 | 0 | $0 |
| Stephen Basso | Chief Financial Officer | May 20, 2026 F | 88,571 | 0 | 0 | $0 |
| Eric Desparbes | SVP and CFO | May 21, 2018 S | 373,081 | 0 | 0 | $0 |
| Marty Glick | Executive VP, Finance and CFO | Oct. 5, 2004 P | 267,805 | 0 | 0 | $0 |
| Matthew Ronsheim | Dr. Ronsheim is President of Innoviva Specialty Therapeutics, Inc. which is a wholly owned subsidiary of Innoviva Specialty Ther | May 20, 2024 F | 40,510 | 0 | 0 | $0 |
| Michael W Aguiar | President & Chief Exec Officer | Dec. 4, 2017 S | 980,907 | 0 | 0 | $0 |
| Marianne Zhen | Chief Accounting Officer | May 20, 2026 F | 57,516 | 0 | 0 | $0 |
| Margaret Koziel | Chief Medical Officer | July 31, 2023 A | — | 0 | 0 | $0 |
| George B Abercrombie | Sr. VP & Chief Comm. Officer | May 21, 2018 S | 299,159 | 0 | 0 | $0 |
| Theodore L Witek JR | Sr. VP & Chief Scientific Off. | May 20, 2018 F | 259,360 | 0 | 0 | $0 |
| Michael E. Faerm | Sr VP & Chief Business Officer | Nov. 20, 2017 F | 279,422 | 0 | 0 | $0 |
| Junning Lee | Sr. VP, Technical Operations | Aug. 20, 2014 F | 262,198 | 0 | 0 | $0 |
| Mathai Mammen | SVP, Research & Early Clin Dev | Aug. 20, 2014 F | 334,040 | 0 | 0 | $0 |
| Bradford J Shafer | Sr VP, Gen. Counsel, Secretary | Aug. 20, 2014 F | 443,013 | 0 | 0 | $0 |
| Leonard M Blum | Sr VP, Chief Comm. Officer | June 16, 2014 A | 404,799 | 0 | 0 | $0 |
| Frank Pasqualone | Sr. Vice President, Operations | Jan. 23, 2014 A | 20,000 | 0 | 0 | $0 |
| Jeffrey David Jonker | Senior VP, Corp. & Bus. Dev. | Oct. 22, 2013 A | 15,000 | 0 | 0 | $0 |
| David L Brinkley | Head of Business Dev. | May 29, 2013 S | 48,749 | 0 | 0 | $0 |
| Michael Kitt | Sr. Vice President Development | June 4, 2008 M | 30,738 | 0 | 0 | $0 |
| Arthur L Campbell | Sr. VP, Technical Operations | Jan. 29, 2008 A | 5,376 | 0 | 0 | $0 |
| Patrick Pa Humphrey | Executive VP Research | Dec. 10, 2007 M | 54,310 | 0 | 0 | $0 |
| Gregory A Sturmer | Vice President Finance | Feb. 10, 2005 A | 290 | 0 | 0 | $0 |
| Josephine Linden | Director | May 18, 2026 A | 15,194 | 0 | 0 | $0 |
| Mark Dipaolo | Director | May 4, 2026 A | 140,492 | 0 | 0 | $0 |
| Derek A Small | Director | May 4, 2026 A | 45,035 | 0 | 0 | $0 |
| Sarah J. Schlesinger | Director | May 4, 2026 A | 140,492 | 0 | 0 | $0 |
| Jules Haimovitz | Director | May 4, 2026 A | 152,692 | 0 | 0 | $0 |
| Sapna Srivastava | Director | June 17, 2024 A | 44,096 | 0 | 0 | $0 |
| Odysseas D Kostas | Director | June 17, 2024 A | 122,625 | 0 | 0 | $0 |
| Deborah Birx | Director | May 22, 2023 A | 58,984 | 0 | 0 | $0 |
| George Bickerstaff | Director | April 24, 2019 A | 70,161 | 0 | 0 | $0 |
| Paul Pepe | Director | April 20, 2017 A | 73,805 | 0 | 0 | $0 |
| Barbara Gayle Duncan | Director | April 20, 2017 A | 52,318 | 0 | 0 | $0 |
| James L Tyree | Director | April 20, 2017 A | 70,554 | 0 | 0 | $0 |
| William H Waltrip | Director | April 20, 2017 A | 161,789 | 0 | 0 | $0 |
| Patrick G Lepore | Director | April 20, 2017 A | 58,278 | 0 | 0 | $0 |
| Terrence C Kearney | Director | April 24, 2015 A | 37,083 | 0 | 0 | $0 |
| Rick E Winningham | Director | Aug. 15, 2014 D | 825,391 | 0 | 0 | $0 |
| Henrietta Fore | Director | May 22, 2014 A | 33,000 | 0 | 0 | $0 |
| Robert V Gunderson JR | Director | May 22, 2014 A | 115,970 | 0 | 0 | $0 |
| George M Whitesides | Director | May 22, 2014 A | 606,377 | 0 | 0 | $0 |
| William D Young | Director | May 22, 2014 A | 83,935 | 0 | 0 | $0 |
| Peter S Ringrose | Director | May 22, 2014 A | 36,000 | 0 | 0 | $0 |
| Burton G Malkiel | Director | May 22, 2014 A | 40,000 | 0 | 0 | $0 |
| DRAZAN JEFFREY M | Director | May 1, 2012 S | 33,465 | 0 | 0 | $0 |
| Eve Elizabeth Slater | Director | April 25, 2007 A | — | 0 | 0 | $0 |
| Ronn Loewenthal | Director | May 2, 2006 M | 0 | 0 | 0 | $0 |
| Julian C. Baker | Director | April 26, 2006 A | 0 | 0 | 0 | $0 |
| Innoviva, Inc. | 10% owner | May 15, 2014 J | 0 | 0 | 0 | $0 |
| Cathy Friedman | — | April 20, 2017 A | 73,805 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Innoviva, Inc., Innoviva Strategic Opportunities LLC ×24 filings | May 13, 2026 | 82.70% | Amendment | — | SEC |
| Sarissa Capital Management LP, DENNER ALEXANDER J ×2 filings | March 17, 2025 | 4.70% | Amendment | — | SEC |
| Innoviva, Inc, Innoviva Strategic Opportunities LLC ×2 filings | Nov. 14, 2024 | — | Initial filing | — | SEC |
| OR ×4 filings | May 15, 2023 | — | Initial filing | — | SEC |
| April 5, 2021 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 87 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PJP · Invesco Exchange-Traded Fund Trust | 2.30% | 567,478 SH | Aug. 8, 2026 | Daily |
| SIXS · EXCHANGE TRADED CONCEPTS TRUST | 2.15% | 127,173 NS | May 31, 2026 | N-PORT |
| PILL · Direxion Shares ETF Trust | 1.37% | 7,695 NS | April 30, 2026 | N-PORT |
| SCOW · Pacer Funds Trust | 1.27% | 851 NS | April 30, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.21% | 80,855 NS | April 30, 2026 | N-PORT |
| CAFG · Pacer Funds Trust | 1.01% | 9,944 NS | April 30, 2026 | N-PORT |
| PSCH · Invesco Exchange-Traded Fund Trust … | 0.73% | 60,854 SH | Aug. 8, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 0.71% | 9,359 NS | April 30, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.59% | 46,899 NS | April 30, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.55% | 13,144 NS | April 30, 2026 | N-PORT |
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.47% | 5,227 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.47% | 21,494 NS | May 31, 2026 | N-PORT |
| VFMV · VANGUARD WELLINGTON FUND | 0.46% | 84,775 SH | Aug. 8, 2026 | Daily |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.42% | 36,779 NS | May 31, 2026 | N-PORT |
| XSHQ · Invesco Exchange-Traded Fund Trust … | 0.38% | 60,154 SH | Aug. 8, 2026 | Daily |
| SVAL · iShares Trust | 0.35% | 34,253 SH | Aug. 8, 2026 | Daily |
| IHE · iShares Trust | 0.33% | 250,503 SH | Aug. 8, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.28% | 148,980 NS | April 30, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.28% | 70,268 NS | April 30, 2026 | N-PORT |
| CALF · Pacer Funds Trust | 0.23% | 347,460 NS | April 30, 2026 | N-PORT |
| SMMV · iShares Trust | 0.22% | 30,825 SH | Aug. 8, 2026 | Daily |
| BFOR · ALPS ETF Trust | 0.22% | 22,424 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.20% | 10,907 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.14% | 65,873 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.13% | 408,192 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.12% | 7,249 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.11% | 1,438,540 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.11% | 65,756 SH | Aug. 8, 2026 | Daily |
| FSMD · FIDELITY COVINGTON TRUST | 0.10% | 107,151 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.10% | 4,017 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.10% | 132,887 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.10% | 700,308 SH | Aug. 8, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.10% | 49,242 SH | Aug. 8, 2026 | Daily |
| IJT · iShares Trust | 0.10% | 384,411 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.09% | 8,327 SH | Aug. 8, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.09% | 456 NS | April 30, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.09% | 245,491 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 27,422 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.09% | 511,364 NS | April 30, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.08% | 10,559 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.08% | 4,278,477 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.08% | 2,740 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.07% | 101,296 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.07% | 61,003 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.07% | 848 NS | May 31, 2026 | N-PORT |
| IJS · iShares Trust | 0.06% | 254,169 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.06% | 239,123 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.05% | 32,482 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.05% | 1,916,211 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 434,766 SH | Aug. 8, 2026 | Daily |