Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2022

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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
(In thousands except per share data)	2022		2021
Numerator:
Net income attributable to Innoviva stockholders, basic	$	15,773	$	94,123
Add: interest expense on 2023 Notes		1,021		1,204
Add: interest expense on 2025 Notes		1,164		—
Add: interest expense on 2028 Notes		384		—
Net income attributable to Innoviva stockholders, diluted	$	18,342	$	95,327
Denominator:
Weighted-average shares used to compute basic net income    per share attributable to Innoviva stockholders		69,544		101,365
Dilutive effect of 2023 Notes		10,155		12,189
Dilutive effect of 2025 Notes		11,150		—
Dilutive effect of 2028 Notes		2,765		—
Dilutive effect of options and awards granted under equity    incentive plan and employee stock purchase plan		116		70
Weighted-average shares used to compute diluted net income    per share attributable to Innoviva stockholders		93,730		113,624
Net income per share attributable to Innoviva stockholders
Basic	$	0.23	$	0.93
Diluted	$	0.20	$	0.84

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:

	Three Months Ended March 31,
(In thousands)	2022		2021
Outstanding options and awards granted under equity incentive    plan and employee stock purchase plan		386		1,159