XML 33 R24.htm IDEA: XBRL DOCUMENT v3.23.2
Net Income Per Share (Tables)
6 Months Ended
Jun. 30, 2023
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 and six months ended June 30, 2023 and 2022:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands except per share data)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Innoviva stockholders, basic

 

$

1,280

 

 

$

939

 

 

$

36,145

 

 

$

16,712

 

Add: interest expense on 2023 Notes, net of tax effect

 

 

 

 

 

570

 

 

 

71

 

 

 

1,591

 

Add: interest expense on 2025 Notes, net of tax effect

 

 

 

 

 

1,375

 

 

 

2,050

 

 

 

2,539

 

Add: interest expense on 2028 Notes, net of tax effect

 

 

 

 

 

1,709

 

 

 

2,554

 

 

 

2,093

 

Net income attributable to Innoviva stockholders, diluted

 

$

1,280

 

 

$

4,593

 

 

$

40,820

 

 

$

22,935

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic net income
   per share attributable to Innoviva stockholders

 

 

65,341

 

 

 

69,643

 

 

 

66,557

 

 

 

69,594

 

Dilutive effect of 2023 Notes

 

 

 

 

 

4,866

 

 

 

376

 

 

 

7,511

 

Dilutive effect of 2025 Notes

 

 

 

 

 

11,150

 

 

 

11,150

 

 

 

11,150

 

Dilutive effect of 2028 Notes

 

 

 

 

 

9,955

 

 

 

9,955

 

 

 

6,360

 

Dilutive effect of options and awards granted under equity
   incentive plan and employee stock purchase plan

 

 

148

 

 

 

39

 

 

 

137

 

 

 

77

 

Weighted-average shares used to compute diluted net income
   per share attributable to Innoviva stockholders

 

 

65,489

 

 

 

95,653

 

 

 

88,175

 

 

 

94,692

 

Net income per share attributable to Innoviva stockholders

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.02

 

 

$

0.01

 

 

$

0.54

 

 

$

0.24

 

Diluted

 

$

0.02

 

 

$

0.05

 

 

$

0.46

 

 

$

0.24

 

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 June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Outstanding options and awards granted under equity incentive
   plan and employee stock purchase plan

 

 

1,319

 

 

 

642

 

 

 

1,260

 

 

 

514

 

Outstanding stock warrant

 

 

591

 

 

 

 

 

 

591

 

 

 

 

Outstanding 2025 Notes

 

 

11,150

 

 

 

 

 

 

 

 

 

 

Outstanding 2028 Notes

 

 

9,955

 

 

 

 

 

 

 

 

 

 

Total

 

 

23,015

 

 

 

642

 

 

 

1,851

 

 

 

514