Invivyd, Inc.
IVVD Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2021โFY2025
Last close ยท Oct 23, 2026
$0.61
0.5%
Revenue
Total sales reported in the income statement.
$53.4M
110.5%
vs prior year
Operating margin
Operating income as a share of revenue.
โ104.0%
592.8ย pts
Net income
Profit after all expenses, interest and tax.
โ$52.5M
Free cash flow
Cash from operations minus capital spending.
โ$58.3M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
$197M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$0.31 EPS (TTM)
What Invivyd, Inc. does
No business description yet.
- Legal name
- Invivyd, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 5, 2026
- Accession ยท CIK
- 0001193125-26-092547
0001832038
Revenue and margins
Invivyd, Inc. had $53.4M of revenue in fiscal 2025, up 110.5% on the year before.
FY21
Revenue โ
FY22
Revenue โ
FY23
Revenue $0.0M
FY24
Revenue $25.4M
FY25
Revenue $53.4M
Q3 '23
Revenue $0.0M
Q4 '23
Revenue $0.0M
Q1 '24
Revenue $0.0M
Q2 '24
Revenue $2.3M
Q3 '24
Revenue $9.3M
Q4 '24
Revenue $13.8M
Q1 '25
Revenue $11.3M
Q2 '25
Revenue $11.8M
Q3 '25
Revenue $13.1M
Q4 '25
Revenue $17.2M
Q1 '26
Revenue $13.7M
Q2 '26
Revenue $14.3M
FY21
Gross โ
Operating โ
Net โ
FCF โ
FY22
Gross โ
Operating โ
Net โ
FCF โ
FY23
Gross โ
Operating โ
Net โ
FCF โ
FY24
Gross โ
Operating โ696.8%
Net โ669.4%
FCF โ672.2%
FY25
Gross โ
Operating โ104.0%
Net โ98.2%
FCF โ109.1%
Gross
Operating
Net
FCF
Q3 '23
Gross โ
Operating โ
Net โ
FCF โ
Q4 '23
Gross โ
Operating โ
Net โ
FCF โ
Q1 '24
Gross โ
Operating โ
Net โ
FCF โ
Q2 '24
Gross โ
Operating โ2,175.2%
Net โ2,086.9%
FCF โ1,837.4%
Q3 '24
Gross โ
Operating โ670.0%
Net โ653.1%
FCF โ441.6%
Q4 '24
Gross โ
Operating โ139.1%
Net โ133.5%
FCF โ272.1%
Q1 '25
Gross โ
Operating โ149.7%
Net โ144.1%
FCF โ188.2%
Q2 '25
Gross โ
Operating โ127.8%
Net โ124.4%
FCF โ112.9%
Q3 '25
Gross โ
Operating โ84.0%
Net โ79.7%
FCF โ62.8%
Q4 '25
Gross โ
Operating โ73.0%
Net โ64.3%
FCF โ89.8%
Q1 '26
Gross โ
Operating โ313.9%
Net โ301.2%
FCF โ308.8%
Q2 '26
Gross โ
Operating โ320.8%
Net โ310.8%
FCF โ304.6%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY21
Net income โ$227M
FY22
Net income โ$241M
FY23
Net income โ$199M
FY24
Net income โ$170M
FY25
Net income โ$52.5M
Q3 '23
Net income โ$39.4M
Q4 '23
Net income โ$73.7M
Q1 '24
Net income โ$43.5M
Q2 '24
Net income โ$47.2M
Q3 '24
Net income โ$60.7M
Q4 '24
Net income โ$18.4M
Q1 '25
Net income โ$16.3M
Q2 '25
Net income โ$14.7M
Q3 '25
Net income โ$10.5M
Q4 '25
Net income โ$11.1M
Q1 '26
Net income โ$41.4M
Q2 '26
Net income โ$44.4M
FY21
Diluted EPS โ$5.32
FY22
Diluted EPS โ$2.23
FY23
Diluted EPS โ$1.81
FY24
Diluted EPS โ$1.43
FY25
Diluted EPS โ$0.30
Q3 '23
Diluted EPS โ$0.36
Q4 '23
Diluted EPS โ$0.67
Q1 '24
Diluted EPS โ$0.38
Q2 '24
Diluted EPS โ$0.40
Q3 '24
Diluted EPS โ$0.51
Q4 '24
Diluted EPS โ$0.14
Q1 '25
Diluted EPS โ$0.14
Q2 '25
Diluted EPS โ$0.12
Q3 '25
Diluted EPS โ$0.06
Q4 '25
Diluted EPS $0.02
Q1 '26
Diluted EPS โ$0.13
Q2 '26
Diluted EPS โ$0.14
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital โ
Return on equity โ40.6%
Return on assets โ36.6%
FY22
Return on capital โ
Return on equity โ52.8%
Return on assets โ48.1%
FY23
Return on capital โ
Return on equity โ74.5%
Return on assets โ64.9%
FY24
Return on capital โ
Return on equity โ138.7%
Return on assets โ94.7%
FY25
Return on capital โ
Return on equity โ34.0%
Return on assets โ25.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$58.3M in fiscal 2025, โ109.1% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow โ$185M
FY22
Free cash flow โ$222M
FY23
Free cash flow โ$174M
FY24
Free cash flow โ$171M
FY25
Free cash flow โ$58.3M
Q3 '23
Free cash flow โ$35.4M
Q4 '23
Free cash flow โ$59.2M
Q1 '24
Free cash flow โ$50.4M
Q2 '24
Free cash flow โ$41.6M
Q3 '24
Free cash flow โ$41.1M
Q4 '24
Free cash flow โ$37.6M
Q1 '25
Free cash flow โ$21.3M
Q2 '25
Free cash flow โ$13.3M
Q3 '25
Free cash flow โ$8.3M
Q4 '25
Free cash flow โ$15.5M
Q1 '26
Free cash flow โ$42.4M
Q2 '26
Free cash flow โ$43.5M
FY21
Cash from operations โ$185M
Capital spending $0.1M
FY22
Cash from operations โ$220M
Capital spending $1.7M
FY23
Cash from operations โ$173M
Capital spending $0.6M
FY24
Cash from operations โ$170M
Capital spending $0.1M
FY25
Cash from operations โ$58.1M
Capital spending $0.2M
Cash from operations
Capital spending
Q3 '23
Cash from operations โ$35.4M
Capital spending $0.0M
Q4 '23
Cash from operations โ$59.2M
Capital spending $0.0M
Q1 '24
Cash from operations โ$50.2M
Capital spending $0.1M
Q2 '24
Cash from operations โ$41.6M
Capital spending $0.0M
Q3 '24
Cash from operations โ$41.1M
Capital spending $0.0M
Q4 '24
Cash from operations โ$37.6M
Capital spending โ$0.0M
Q1 '25
Cash from operations โ$21.1M
Capital spending $0.1M
Q2 '25
Cash from operations โ$13.3M
Capital spending $0.0M
Q3 '25
Cash from operations โ$8.3M
Capital spending $0.0M
Q4 '25
Cash from operations โ$15.5M
Capital spending $0.0M
Q1 '26
Cash from operations โ$41.7M
Capital spending $0.7M
Q2 '26
Cash from operations โ$43.0M
Capital spending $0.5M
Cash from operations
Capital spending
Dividends, buybacks and share count
Invivyd, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 45.3%.
FY21
Dividends โ
Buybacks $0.0M
FY22
Dividends โ
Buybacks $0.0M
FY23
Dividends โ
Buybacks $0.0M
FY24
Dividends โ
Buybacks $0.0M
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
Q3 '23
Dividends โ
Buybacks $0.0M
Q4 '23
Dividends โ
Buybacks $0.0M
Q1 '24
Dividends โ
Buybacks โ
Q2 '24
Dividends โ
Buybacks โ
Q3 '24
Dividends โ
Buybacks $0.0M
Q4 '24
Dividends โ
Buybacks $0.0M
Q1 '25
Dividends โ
Buybacks โ
Q2 '25
Dividends โ
Buybacks โ
Q3 '25
Dividends โ
Buybacks โ
Q4 '25
Dividends โ
Buybacks โ
Q1 '26
Dividends โ
Buybacks โ
Q2 '26
Dividends โ
Buybacks โ
Dividends
Buybacks
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.11B
FY23
Diluted shares 0.11B
FY24
Diluted shares 0.12B
FY25
Diluted shares 0.17B
Balance sheet
Cash, debt and the ratios that show how comfortably Invivyd, Inc. can carry it.
FY21
Cash $542M
Debt โ
FY22
Cash $92.1M
Debt โ
FY23
Cash $201M
Debt โ
FY24
Cash $69.3M
Debt โ
FY25
Cash $227M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $542M | $92.1M | $201M | $69.3M | $227M |
| Current ratio | 9.9x | 15.1x | 4.5x | 1.6x | 7.2x |
| Quick ratio | 9.9x | 15.1x | 4.5x | 1.2x | 7.2x |
| Total assets | $620M | $383M | $229M | $130M | $277M |
| Total liabilities | $62.1M | $27.2M | $51.7M | $62.0M | $35.3M |
| Shareholders' equity | $558M | $356M | $177M | $67.5M | $242M |
| Net debt (โ = net cash) | โ | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 6 | โ / 6 | 1 / 7 | 2 / 7 |
| Accruals ratio | โ6.8% | โ4.3% | โ8.3% | 0.3% | 2.8% |
| Altman Z'' | 11.31 | 10.88 | โ8.05 | โ28.78 | โ0.36 |
5 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | โ | โ | $0.0M | $25.4M | $53.4M |
| Research and development | $183M | $179M | $159M | $137M | $38.3M |
| Operating income | โ$227M | โ$248M | โ$213M | โ$177M | โ$55.6M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | โ$227M | โ$241M | โ$199M | โ$170M | โ$52.5M |
| Diluted EPS | โ$5.32 | โ$2.23 | โ$1.81 | โ$1.43 | โ$0.30 |
| Diluted shares | 0.04B | 0.11B | 0.11B | 0.12B | 0.17B |
| Cash flow | |||||
| Cash from operations | โ$185M | โ$220M | โ$173M | โ$170M | โ$58.1M |
| Capital expenditure | $0.1M | $1.7M | $0.6M | $0.1M | $0.2M |
| Free cash flow | โ$185M | โ$222M | โ$174M | โ$171M | โ$58.3M |
| Depreciation and amortization | $0.0M | $0.0M | $0.5M | โ | โ |
| Stock-based compensation | $17.8M | $21.6M | $18.7M | $19.8M | $11.6M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | โ |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $0.0M | โ |
| Balance sheet | |||||
| Cash and short-term investments | $542M | $92.1M | $201M | $69.3M | $227M |
| Current assets | $617M | $377M | $225M | $101M | $247M |
| Current liabilities | $62.1M | $25.0M | $50.3M | $62.0M | $34.2M |
| Inventory | โ | โ | $0.0M | $25.9M | โ |
| Property and equipment, net | $0.1M | $2.3M | $1.9M | $1.5M | $1.4M |
| Total assets | $620M | $383M | $229M | $130M | $277M |
| Total liabilities | $62.1M | $27.2M | $51.7M | $62.0M | $35.3M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $558M | $356M | $177M | $67.5M | $242M |
| Margins | |||||
| Operating margin | โ | โ | โ | โ696.8% | โ104.0% |
| Net margin | โ | โ | โ | โ669.4% | โ98.2% |
| FCF margin | โ | โ | โ | โ672.2% | โ109.1% |
| Returns | |||||
| Return on capital employed | โ40.7% | โ69.3% | โ118.9% | โ261.9% | โ22.9% |
| Return on equity | โ40.6% | โ52.8% | โ74.5% | โ138.7% | โ34.0% |
| Return on assets | โ36.6% | โ48.1% | โ64.9% | โ94.7% | โ25.8% |
| Return on tangible equity | โ40.6% | โ67.8% | โ111.9% | โ251.6% | โ21.7% |
| Growth | |||||
| Revenue growth | โ | โ | โ | โ | 110.5% |
| Share count change | โ | 154.0% | 1.2% | 8.2% | 45.3% |
| Financial health | |||||
| Current ratio | 9.9x | 15.1x | 4.5x | 1.6x | 7.2x |
| Quick ratio | 9.9x | 15.1x | 4.5x | 1.2x | 7.2x |
| Capital allocation | |||||
| Capex / revenue | โ | โ | โ | 0.6% | 0.3% |
| Stock comp / revenue | โ | โ | โ | 78.0% | 21.8% |
| Quality scores | |||||
| Piotroski F-score | โ | โ | โ | 1.0 | 2.0 |
| Altman Z'' | 11.3 | 10.9 | โ8.1 | โ28.8 | โ0.4 |
| Accruals ratio | โ6.8% | โ4.3% | โ8.3% | 0.3% | 2.8% |
Source: SEC EDGAR XBRL filings (CIK 0001832038). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.