Innoviva Inc (INVA)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	171,290	156,763	161,887	206,560	218,050	285,244	342,616	341,666	356,609	337,238	327,863	307,819	304,580	300,196	275,459	258,769	234,721	238,608	234,931	242,507
Revenue (ttm)	US$ in thousands	291,306	265,493	264,791	292,746	287,188	335,952	366,863	358,359	372,796	355,782	346,801	325,125	318,463	308,609	285,580	270,641	247,045	250,932	246,312	253,952
Gross profit margin		58.80%	59.05%	61.14%	70.56%	75.93%	84.91%	93.39%	95.34%	95.66%	94.79%	94.54%	94.68%	95.64%	97.27%	96.46%	95.61%	95.01%	95.09%	95.38%	95.49%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $171,290K ÷ $291,306K
= 58.80%

The gross profit margin of Innoviva Inc has shown a declining trend over the past eight quarters, starting at 100% in Q2 2022 and gradually decreasing to 86.27% in Q4 2023. This indicates that the company's profitability from sales has been decreasing over time. The most significant drop occurred from Q1 to Q2 2023, where the margin fell from 92.40% to 88.60%. It is important for the company to closely monitor and analyze the factors contributing to this trend, as a decreasing gross profit margin can impact overall profitability and financial health.