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