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Mar 31, 2025
Roivant Sciences Q4 2025 Earnings Report
Roivant Sciences reported a net loss in Q4 2025, with lower revenue and increased R&D and G&A expenses.
Key Takeaways
Roivant Sciences ended Q4 2025 with a net loss of $206.5 million as operating expenses surged due to higher R&D and G&A costs. Revenue dipped slightly from the prior year. Adjusted EPS came in below zero, reflecting ongoing investment in its late-stage pipeline.
Revenue for Q4 2025 was $7.57 million, down from $9.02 million in Q4 2024.
Net loss was $206.5 million, primarily due to increased operating expenses.
Adjusted EPS was $(0.22), reflecting non-cash share-based compensation.
Roivant maintained a strong cash position with $4.9 billion in total liquidity.
Forward Guidance
Roivant anticipates key data readouts and trial initiations in late 2025 and 2026, driven by brepocitinib and IMVT-1402 programs.
Positive Outlook
- Brepocitinib Phase 3 DM topline data expected in H2 2025
- CS proof-of-concept trial topline readout expected in H2 2026
- IMVT-1402 trials in GD and SjD to begin in summer 2025
- Strong cash runway of $4.9B supports long-term plans
- Multiple registrational programs progressing on schedule
Challenges Ahead
- Continued net losses due to high operating costs
- Revenue decline versus prior year quarter
- Loss from continuing operations widened significantly
- Substantial share-based compensation burden
- High burn rate from expanded clinical activities
Historical Earnings Impact
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Avg. Return Before/After Earnings
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