Invivyd, Inc. (IVVD) Income Statement
IVVD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIVVD revenue and net income
Where IVVD's revenue goes
2025Each bar shows an amount and its share of revenue. IVVD kept −98.2% of revenue as net income.
IVVD profit margins
IVVD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +110.5% | — | — | — |
| Gross profit | +109.0% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IVVD quarterly EPS vs estimates
Invivyd beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.11).
IVVD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $53.4M | $25.4M | $0 | $0 | $0 | $0 |
| Cost of revenue | $3.7M | $1.6M | $2.0M | $462,000 | $1,000 | — |
| Gross profit | $49.7M | $23.8M | −$2.0M | −$462,000 | −$1,000 | — |
| Research & development | $38.3M | $137.3M | $158.7M | $179.2M | $182.9M | $106.5M |
| Sales, general & admin | $66.9M | $63.4M | $49.1M | $47.0M | $36.5M | — |
| Total operating expenses | $105.2M | $200.6M | $212.8M | $248.0M | $226.9M | $112.0M |
| Operating income | −$55.6M | −$176.9M | −$212.8M | −$248.0M | −$226.9M | −$112.0M |
| Interest expense | — | — | — | $43.1M | $15.0M | — |
| Income before taxes | −$52.5M | −$169.9M | −$198.6M | −$241.3M | −$226.8M | −$112.0M |
| Income taxes | — | — | — | −$6.7M | $7.5M | −$43,203 |
| Net income | −$52.5M | −$169.9M | −$198.6M | −$241.3M | −$226.8M | −$112.0M |
| EBITDA | −$50.4M | −$166.8M | −$205.8M | −$225.8M | −$219.4M | −$65.3M |
| EPS (diluted) | −$0.36 | −$1.44 | −$1.81 | −$2.05 | −$3.98 | −$20.02 |
| Gross margin | 93.0% | 93.6% | — | — | — | — |
| Operating margin | −104.0% | −696.8% | — | — | — | — |
| Net margin | −98.2% | −669.4% | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.3M | $13.7M | $17.2M | $13.1M | $11.8M | $11.3M | $13.8M | $9.3M | $2.3M | $0 | $3.0M | $0 |
| Cost of revenue | $1.3M | $1.5M | $1.1M | $1.1M | $685,000 | $834,000 | $724,000 | $806,000 | $88,000 | $524,000 | $516,000 | $508,000 |
| Gross profit | $13.0M | $12.2M | $16.1M | $12.0M | $11.1M | $10.5M | $13.1M | $8.5M | $2.2M | −$524,000 | $2.5M | −$508,000 |
| Research & development | $29.4M | $30.7M | $10.0M | $8.0M | $9.6M | $10.6M | $17.9M | $57.9M | $30.3M | $31.2M | $62.3M | $25.6M |
| Sales, general & admin | $29.5M | $25.1M | $18.6M | $15.0M | $16.6M | $16.8M | $14.4M | $13.0M | $21.6M | $15.5M | $15.6M | $12.9M |
| Total operating expenses | $58.8M | $55.3M | $28.6M | $23.1M | $26.2M | $27.4M | $32.3M | $70.8M | $51.4M | $46.1M | $76.8M | $43.1M |
| Operating income | −$45.8M | −$43.1M | −$12.6M | −$11.0M | −$15.1M | −$16.9M | −$19.2M | −$62.3M | −$49.2M | −$46.1M | −$76.8M | −$43.1M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $3.8M | — |
| Income before taxes | −$44.4M | −$41.4M | −$11.1M | −$10.5M | −$14.7M | −$16.3M | −$18.4M | −$60.7M | −$47.2M | −$43.5M | −$73.7M | −$39.4M |
| Income taxes | — | — | — | — | — | — | −$480,724 | — | — | $480,724 | $4.6M | −$508,000 |
| Net income | −$44.4M | −$41.4M | −$11.1M | −$10.5M | −$14.7M | −$16.3M | −$18.4M | −$60.7M | −$47.2M | −$43.5M | −$73.7M | −$39.4M |
| EBITDA | −$45.1M | −$40.9M | −$10.6M | −$10.0M | −$14.2M | −$15.6M | −$16.9M | −$60.2M | −$46.7M | −$43.0M | −$76.8M | −$38.0M |
| EPS (diluted) | −$0.14 | −$0.13 | −$0.04 | −$0.06 | −$0.12 | −$0.14 | −$0.15 | −$0.51 | −$0.40 | −$0.38 | −$0.67 | −$0.36 |
| Gross margin | 91.1% | 88.8% | 93.4% | 91.7% | 94.2% | 92.6% | 94.8% | 91.3% | 96.1% | — | 82.9% | — |
| Operating margin | −320.8% | −313.9% | −73.0% | −84.0% | −127.8% | −149.7% | −139.1% | −670.0% | −2,175.2% | — | −2,538.1% | — |
| Net margin | −310.8% | −301.2% | −64.3% | −79.7% | −124.4% | −144.1% | −133.5% | −653.1% | −2,086.9% | — | −2,435.6% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IVVD's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IVVD financial results
In fiscal year 2025 (ended December 31, 2025), Invivyd reported revenue of $53.4 million, up 110.5% from the year before. It had a net loss of $52.5 million, a net profit margin of −98.2%. Diluted earnings per share came to −$0.36.
See the IVVD stock overview for the latest quote and news, or the IVVD chart for price history and technical indicators.
IVVD income statement FAQ
What is Invivyd's annual revenue?
Invivyd reported total revenue of $53.4 million for fiscal year 2025, which ended on December 31, 2025. That was up 110.5% from $25.4 million the previous year.
Is Invivyd profitable?
No. Invivyd reported a net loss of $52.5 million in fiscal 2025, a net profit margin of −98.2%; its operating margin was −104.0%.
What is Invivyd's gross margin?
Invivyd's gross margin was 93.0% in fiscal 2025: for every $100 of revenue, Invivyd kept $93 after the direct cost of its products and services.
How much does Invivyd spend on research and development?
Invivyd spent $38.3 million on research and development in fiscal 2025, 71.7% of revenue.
What are Invivyd's earnings per share?
Invivyd earned $-0.36 per diluted share in fiscal 2025, compared with $-1.44 a year earlier.
When will Invivyd report its next earnings?
Invivyd is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Invivyd's fiscal year end?
Invivyd's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.