Roivant Sciences (ROIV) Q2 FY2026 earnings: revenue $35 million, up 2135.6% on the year

Roivant Sciences Ltd. (ROIV) reported revenue of $35 million for Q2 FY2026, the quarter ended 30 September 2026, up 2135.6% on the same quarter a year earlier. Net income was -$192 million, and diluted earnings per share $-0.27. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue

$35 million

+2,135.6% on the year · +2,335.6% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

-763.2%

-19492.9% a year earlier

Q3 FY2024Q2 FY2026

Net income

-$192 million

Q3 FY2024Q2 FY2026

Diluted EPS

-$0.27

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new, 3 kept.

Net loss to Roivant rose: Net loss attributable to Roivant was $191.6 million, or $0.27 per share, against $113.5 million, or $0.17, a year earlier. Management attributed $0.13 per share of the loss to Genevant distributions.
Net product revenue of $31.0 million: LISRAYA net product revenue was $31.0 million in its first five weeks on the market, following FDA approval in August 2026.
Uveitis Phase 3 met all key endpoints: Both CLARITY trials met the primary and all key secondary endpoints. Median time to treatment failure exceeded 48 weeks, against about 12 weeks on placebo in each study.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	35.1	1.4	1.6	+2,335.6%	+2,135.6%
Cost of revenue	3.3	n/a	0.1		+2,915.3%
Gross profit	31.8	n/a	1.5		+2,076.3%
Gross margin	90.5%	n/a	92.9%
Research and development	146	202	165	-27.9%	-11.4%
Selling, general and administrative	154	n/a	143		+7.7%
Operating income	-268	-366	-306
Operating margin	-763.2%	-25380.9%	-19492.9%
Pre-tax income	-166	-295	-159
Income tax	-13.4	-4.0	7.0
Net income	-192	-190	-114
Net margin	-545.6%	-13164.8%	-7225.9%
Diluted EPS	-$0.27	-$0.26	-$0.17

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	594	-271	-186
Capital expenditure	0.2	0.4	7.8	-50.4%	-97.3%
Free cash flow	594	-271	-194
Free cash flow margin	1691.9%	-18788.0%	-12317.8%
Cash from investing	42.5	281	120	-84.9%	-64.7%
Cash from financing	-249	-182	62.6
Depreciation and amortisation	0.6	0.6	0.9	+0.7%	-34.4%
Share-based compensation	79.3	83.3	81.8	-4.9%	-3.1%
Buybacks	74.5	207	0.0	-64.0%
Diluted shares, weighted	723m	721m	681m	+0.3%	+6.1%
Shares outstanding at period end	724m	723m	690m	+0.1%	+4.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	4,020	4,231	4,362	-5.0%	-7.8%
Non-controlling interest	575	691	443	-16.7%	+29.9%
Debt	0.0	0.0	0.0
Operating lease liabilities	92.8	94.8	89.8	-2.1%	+3.3%
Other liabilities	287	290	167	-0.9%	+71.7%
Total liabilities and equity	4,976	5,306	5,063	-6.2%	-1.7%
Fixed assets	10.9	11.3	25.7	-3.3%	-57.4%
Investments	2,565	2,594	3,149	-1.1%	-18.5%
Cash and equivalents	1,642	1,248	1,237	+31.5%	+32.8%
Other assets	757	1,453	651	-47.9%	+16.3%
Total assets	4,976	5,306	5,063	-6.2%	-1.7%

Questions

What was Roivant Sciences' revenue in Q2 FY2026?

Roivant Sciences (ROIV) reported revenue of $35 million for Q2 FY2026, the quarter ended 30 September 2026, up 2135.6% on the same quarter a year earlier.

How much did Roivant Sciences earn in Q2 FY2026?

Net loss for Q2 FY2026 was $192 million, and the diluted loss per share $0.27.

When did Roivant Sciences report Q2 FY2026 results?

Roivant Sciences filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2021 †	Q4 FY2021 * †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	24.3	9.2	4.3	12.5	17.1	27.4	21.6	3.6	15.6	28.9	8.0	4.5	9.0	7.6	2.2	1.6	2.0	2.5	1.4	35.1
Cost of revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.1	n/a	n/a	n/a	3.3
Gross profit	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	1.5	n/a	n/a	n/a	31.8
Gross margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	93%	n/a	n/a	n/a	90%
R&D	137	135	136	132	126	132	125	115	108	121	121	143	142	145	153	165	165	199	202	146
SG&A	116	n/a	149	158	168	126	156	164	197	170	149	n/a	n/a	n/a	n/a	143	n/a	n/a	n/a	154
Operating income	-246	-267	-282	-281	-378	-234	-276	-214	5,127	-266	-102	-342	-274	-285	-285	-306	-339	415	-366	-268
Operating margin	-1011%	-2893%	-6536%	-2240%	-2217%	-855%	-1278%	-5863%	32949%	-919%	-1280%	-7636%	-3043%	-3764%	-13130%	-19493%	-16966%	16478%	-25381%	-763%
Interest expense	1.5	1.5	2.6	8.3	8.4	8.6	8.9	9.2	9.4	7.2	13.4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	-306	-291	-350	-314	-382	-179	-326	-241	5,154	-191	-19.6	-224	-235	-203	-269	-159	-290	454	-295	-166
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	22%	n/a	n/a
Net income	-285	-270	-332	-292	-352	-33.6	-292	-304	5,096	-151	95.3	-230	169	-206	-223	-114	-266	303	-190	-192
Net margin	-1169%	-2928%	-7683%	-2327%	-2064%	-123%	-1350%	-8342%	32748%	-522%	1193%	-5144%	1878%	-2728%	-10293%	-7226%	-13301%	12024%	-13165%	-546%
Diluted EPS	-$0.41	-$0.40	-$0.48	-$0.42	-$0.49	-$0.03	-$0.38	-$0.40	$6.03	-$0.19	$0.12	-$0.31	$0.23	-$0.28	-$0.33	-$0.17	-$0.38	$0.34	-$0.26	-$0.27
Operating cash flow	-268	-147	-252	-190	-223	-179	-250	-196	-210	-108	-193	-267	-207	-173	-204	-186	-196	-164	-271	594
Capital expenditure	6.1	6.3	7.5	3.1	0.5	1.6	0.4	0.3	0.4	0.3	1.0	1.0	1.8	0.8	4.0	7.8	n/a	1.3	0.4	0.2
Free cash flow	-275	-154	-260	-193	-223	-181	-250	-197	-211	-109	-194	-268	-209	-173	-208	-194	n/a	-165	-271	594
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	0.0	648	106	243	295	208	0.0	0.0	n/a	207	74.5
Shares outstanding	692m	695m	701m	704m	727m	760m	767m	801m	805m	807m	739m	733m	720m	696m	682m	690m	710m	720m	723m	724m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.