Roivant Sciences Ltd

roivant.com

What Do They Do?

Develops medicines for patients with autoimmune diseases and pulmonary hypertension through biotechnology subsidiaries, and incubates discovery-stage companies and health technology startups.

How Do They Make Money?

Roivant earns license fees when rights are transferred, milestone revenue as development or regulatory milestones are reached, and royalties when licensees make related sales; it also earns subscription and service fees for technology.

FY2025 revenue

Who Are Their Customers?

The company had no active sales and marketing team at the annual-report date; for a potential U.S. launch, Priovant planned a focused team to reach specialist physicians and seek coverage from commercial and government payors.

Do Revenues Turn Into Profits?

No. It lost $299.8M in FY2025.

Operating income, FY2025

−6236% of revenue

▼ −49% (Loss) vs FY2024 (−$1B, −3453%)

Net income, FY2025

−3629% of revenue

▲ +74% (Loss) vs FY2024 (−$172M, −592%)

Free cash flow, FY2025

−9184% of revenue

▼ −10% (Loss) vs FY2024 (−$844.1M, −2905%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q1 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −34%; vs $2.2M in Q1 FY2025
Net income: ▼ −15% (Loss); vs −$223.4M in Q1 FY2025

Aug 27, 2026 FDA approves LISRAYA for adults with dermatomyositis LISRAYA (brepocitinib) is available in the U.S.

Shrinking. Revenue fell 85% in 4 years, from $55.3M in FY2021 to $8.3M in FY2025, about 38% a year.

Commercial product to pipeline The older report listed VTAMA as a commercial product; the latest report instead describes a development pipeline and says Roivant had no products approved for commercial sale.

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