SUPPLEMENTARY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2019

SUPPLEMENTARY FINANCIAL DATA (UNAUDITED)

SUPPLEMENTARY FINANCIAL DATA (UNAUDITED)

SUPPLEMENTARY FINANCIAL DATA (UNAUDITED)

(In thousands, except per share data)

The following table presents certain unaudited consolidated quarterly financial information for the eight quarters in the period ended December 31, 2019. This information has been prepared on the same basis as the audited consolidated financial statements and includes all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the unaudited quarterly results of operations set forth herein.

	For the Quarters Ended
	March 31		June 30		September 30		December 31
2019
Net revenue	$	55,183	$	64,107	$	65,755	$	75,971
Total operating expenses		3,015		4,347		4,962		2,332
Income from operations		52,168		59,760		60,793		73,639
Income tax expense, net		(8,508)		(10,433)		(10,558)		(12,403)
Net income		40,019		46,061		47,051		57,862
Net income attributable to noncontrolling interest		6,229		8,321		7,242		11,913
Net income attributable to Innoviva stockholders	$	33,790	$	37,740	$	39,809	$	45,949
Basic net income per share	$	0.33	$	0.37	$	0.39	$	0.45
Diluted net income per share	$	0.31	$	0.34	$	0.36	$	0.42
	For the Quarters Ended
	March 31		June 30		September 30		December 31
2018
Net revenue	$	52,380	$	67,086	$	61,680	$	79,858
Total operating expenses		11,685		4,411		4,019		2,638
Income from operations		40,695		62,675		57,661		77,220
Income tax benefit, net		—		—		—		196,073
Net income		30,330		56,616		50,167		269,215
Net income attributable to noncontrolling interest		749		1,990		3,078		5,455
Net income attributable to Innoviva stockholders	$	29,581	$	54,626	$	47,089	$	263,760
Basic net income per share	$	0.29	$	0.54	$	0.47	$	2.61
Diluted net income per share	$	0.27	$	0.49	$	0.43	$	2.34