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Jun 30
Roivant Sciences Q1 2026 Earnings Report
Reported Q1 FY2026 with $2.17M in revenue, a GAAP net loss of $223.4M (EPS -$0.33), and continued investment in R&D and G&A while maintaining a strong liquidity position.
Key Takeaways
Roivant posted modest revenue alongside a larger operating loss as it advanced multiple late-stage programs. GAAP EPS was -$0.33 and non-GAAP adjusted EPS was approximately -$0.25 based on adjusted net loss and shares outstanding. The company ended the quarter with a robust cash and investments balance and continued share repurchases.
Revenue was $2.17M; cost of revenue $0.15M.
GAAP net loss attributable to Roivant was $223.4M; EPS -$0.33.
Non-GAAP adjusted loss from continuing operations implied adjusted EPS of about -$0.25.
Consolidated cash, cash equivalents and restricted cash totaled ~$1.25B; marketable securities ~$3.26B.
Roivant Sciences
Roivant Sciences
Forward Guidance
The company did not provide quantitative financial guidance; updates focused on clinical milestones, litigation timelines, and capital allocation.
Positive Outlook
- Phase 3 VALOR DM topline data expected in 2H 2025.
- Active enrollment across multiple IMVT-1402 registrational programs.
- Strong liquidity with ~$4.5B in cash and marketable securities.
- Completion of $1.5B buyback and authorization of additional $500M.
- Multiple additional program readouts planned through 2026–2027.
Challenges Ahead
- Operating loss widened with higher R&D and G&A expenses.
- Limited current-period revenue contribution.
- No specific near-term financial guidance provided.
- Ongoing legal proceedings (LNP litigation) create uncertainty.
- Execution risk around numerous late-stage clinical milestones.