Jun 2026 (Q1 FY27) — Aug 6, 2026
Roivant Q1 FY27 — Brepocitinib DM Launch Imminent, Robust Pipeline Catalysts Ahead
Read the full callRoivant (ROIV) earnings
- Jun 2026
- Jun 2026 (Q1 FY27)
- Mar 2026
Roivant earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1.4 | −33.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -25380.9 | −12250.9 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -190 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
10 of 11 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Brepocitinib cutaneous sarcoidosis (CS) Phase III trial initiation | Starting a Phase III study this calendar year | Dec 2025 | the initiation of the cutaneous sarcoidosis Phase III study is a pretty exciting event. It's a little bit ahead of schedule | Achieved |
| Brepocitinib commercial launch in dermatomyositis (DM) | Launch by the end of September (assuming FDA approval as expected) | Mar 2026 | We've got brepocitinib expected to launch by the end of September. Obviously, we got priority review and our PDUFA date, as we said, is this quarter. | On Track |
| Batoclimab TED (thyroid eye disease) study data readout | Data coming next calendar year | Sep 2024 | we announced the failure of the bitokamab studies in TED | Missed |
1 of Roivant Sciences Ltd.'s 21 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 18 more targets are in the full ledger.
Claimed
- Brepocitinib launch in dermatomyositis (DM) is on track for imminent potential approval and launch by end of September 2026.
- Initiated Phase III study for brepocitinib in cutaneous sarcoidosis (CS) ahead of schedule, targeting 40,000 US patients.
- Received initial $950 million payment from Moderna settlement, with $200 million in share repurchases in the quarter.
- Multiple key data readouts expected in H2 2026, including brepocitinib in NIU and 1402 in PH-ILD and CLE.
Qualified
- Management noted the quarter was "quiet" with "not the most interesting" earnings call, indicating a period of anticipation rather than significant new disclosures.
- The company's guidance for brepocitinib DM launch is "slow and steady," suggesting initial uptake may not be rapid.
- Uncertainty regarding the translatability of PVR reductions from PAH to PH-ILD for 1402, which is a risk for the program.
- Variability in placebo response rates in immunology trials, particularly for the NIU study, is a concern for future readouts.
Price
$34.04 +1.25% · +$0.42
Performance +107.6% 1Y
1Y: $16.4 on 14 Oct 2025 → $34.04. High $41.81 (9 Sept 2026), low $16.4 (14 Oct 2025).
- Previous close
- $33.62
- 52-week range
- $16.4 – $41.81
- One year
- +100.35%
Overview
- Symbol
- ROIV
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
10 of 11 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Brepocitinib cutaneous sarcoidosis (CS) Phase III trial initiation | Starting a Phase III study this calendar year | Dec 2025 | the initiation of the cutaneous sarcoidosis Phase III study is a pretty exciting event. It's a little bit ahead of schedule | Achieved |
| Brepocitinib commercial launch in dermatomyositis (DM) | Launch by the end of September (assuming FDA approval as expected) | Mar 2026 | We've got brepocitinib expected to launch by the end of September. Obviously, we got priority review and our PDUFA date, as we said, is this quarter. | On Track |
| Batoclimab TED (thyroid eye disease) study data readout | Data coming next calendar year | Sep 2024 | we announced the failure of the bitokamab studies in TED | Missed |
Claimed
- Brepocitinib launch in dermatomyositis (DM) is on track for imminent potential approval and launch by end of September 2026.
- Initiated Phase III study for brepocitinib in cutaneous sarcoidosis (CS) ahead of schedule, targeting 40,000 US patients.
- Received initial $950 million payment from Moderna settlement, with $200 million in share repurchases in the quarter.
- Multiple key data readouts expected in H2 2026, including brepocitinib in NIU and 1402 in PH-ILD and CLE.
Qualified
- Management noted the quarter was "quiet" with "not the most interesting" earnings call, indicating a period of anticipation rather than significant new disclosures.
- The company's guidance for brepocitinib DM launch is "slow and steady," suggesting initial uptake may not be rapid.
- Uncertainty regarding the translatability of PVR reductions from PAH to PH-ILD for 1402, which is a risk for the program.
- Variability in placebo response rates in immunology trials, particularly for the NIU study, is a concern for future readouts.
The full ledger
Open Roivant Sciences Ltd.’s full ledger
A free account opens 5 company ledgers a month. All 21 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q4 FY26) — May 20, 2026
Roivant Q4 FY26 — Strong Clinical Data & Financial Position
Read the full callEvery analysed call
Roivant earnings calls (ROIV)
Financials
What the filings say
Net profit, year on year: +15% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4 | 9 | 8 | 2 | 2 | 2 | 3 | 1 |
| Operating profit | -342 | -274 | -285 | -285 | -306 | -339 | 415 | -366 |
| Operating margin | −7636.0% | −3042.6% | −3764.4% | −13130.0% | −19492.9% | −16966.1% | 16477.8% | −25380.9% |
| Profit before tax | -224 | -235 | -203 | -269 | -159 | -290 | 454 | -295 |
| Tax rate | −5.5% | 10.9% | −24.3% | −1.7% | −4.4% | −8.0% | 21.7% | 1.3% |
| Net profit | -230 | 169 | -206 | -223 | -114 | -266 | 303 | -190 |
| EPS ($ per share) | -0.31 | 0.23 | — | -0.33 | -0.17 | -0.38 | — | -0.26 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -1,918 | -2,764 | -3,773 | 576 | 116 | -502 |
| Total liabilities | 528 | 524 | 782 | 774 | 250 | 416 |
| Fixed assets | 15 | 26 | 39 | 15 | 12 | 12 |
| Investments | — | — | — | 0 | 2,171 | 2,873 |
| Total assets | 2,590 | 2,585 | 2,390 | 7,222 | 5,437 | 5,709 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -552 | -678 | -843 | -765 | -839 | -750 |
| Cash from investing | -32 | 303 | -44 | 5,204 | -1,766 | -682 |
| Cash from financing | 456 | 307 | 499 | 419 | -1,220 | 134 |
| Net cash flow | — | -68 | -382 | 4,858 | -3,825 | -1,295 |
| Capital expenditure | -6 | -17 | -13 | -1 | -5 | -8 |
| Free cash flow | -558 | -695 | -856 | -767 | -844 | -759 |
ROIV revenue by segment
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2026 | Q3 FY2026 | Q1 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
232 filings between Oct 16, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$885.13M
116 sales by 12 insiders
24% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 21
- Award — granted as compensation
- 45
- Option exercise — converted options into shares
- 38
- Tax withheld — shares kept back by the company to cover tax
Also filed: 11 other filings, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| MANCHESTER KEITH S | — | $154.47M | Jun 30, 2026 |
| QVT Financial LP | — | $147.38M | Jun 30, 2026 |
| Gold Daniel Allen | — | $147.38M | Jun 30, 2026 |
| Sukhatme Mayukh | — | $109.13M | Aug 21, 2026 |
| Ramaswamy Vivek | — | $105.88M | Dec 15, 2025 |
| Torti Frank | — | $82.04M | Feb 23, 2026 |
| Venker Eric | — | $77.24M | Sep 30, 2026 |
| Gline Matthew | — | $46.17M | Apr 16, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Epperly Melissa B, Director | Option exercise 10b5-1 plan | 17,750 | $79.2K |
| Oct 1, 2026 | Epperly Melissa B, Director | Sale 10b5-1 plan | 16,850 | $607.9K |
| Oct 1, 2026 | Epperly Melissa B, Director | Sale 10b5-1 plan | 900 | $32.9K |
| Sep 30, 2026 | Torti Frank President and Vant Chair | Tax withheld | 40,309 | $1.47M |
| Sep 30, 2026 | Gline Matthew CEO | Tax withheld | 76,171 | $2.79M |
| Sep 30, 2026 | Venker Eric President & Immunovant CEO | Sale 10b5-1 plan | 200,000 | $7.32M |
| Sep 30, 2026 | Venker Eric President & Immunovant CEO | Option exercise 10b5-1 plan | 200,000 | $770.0K |
| Sep 30, 2026 | Sukhatme Mayukh President & CIO | Tax withheld | 46,879 | $1.71M |
| Sep 20, 2026 | Humes Jennifer Chief Accounting Officer | Tax withheld | 3,880 | $154.3K |
| Sep 20, 2026 | Pulik Richard CFO | Tax withheld | 2,129 | $84.7K |
| Sep 16, 2026 | Fitzgerald Meghan Director | Award | 5,054 | $0 |
| Sep 16, 2026 | Gold Daniel Allen Director | Award | 5,054 | $0 |
| Sep 16, 2026 | MANCHESTER KEITH S Director | Award | 5,054 | $0 |
| Sep 16, 2026 | Oren Ilan Director | Award | 5,054 | $0 |
| Sep 16, 2026 | MOMTAZEE JAMES C Director | Award | 5,054 | $0 |
| Sep 16, 2026 | Epperly Melissa B, Director | Award | 5,054 | $0 |
| Sep 15, 2026 | Epperly Melissa B, Director | Sale 10b5-1 plan | 4,338 | $172.0K |
| Sep 15, 2026 | Fitzgerald Meghan Director | Sale 10b5-1 plan | 400 | $16.2K |
| Sep 15, 2026 | Epperly Melissa B, Director | Sale 10b5-1 plan | 600 | $24.2K |
| Sep 15, 2026 | Fitzgerald Meghan Director | Sale 10b5-1 plan | 4,712 | $187.0K |
| Sep 10, 2026 | Fitzgerald Meghan Director | Tax withheld | 1,743 | $71.4K |
| Sep 10, 2026 | Gold Daniel Allen Director | Tax withheld | 5,133 | $210.1K |
| Sep 10, 2026 | Oren Ilan Director | Tax withheld | 2,378 | $97.4K |
| Sep 10, 2026 | Epperly Melissa B, Director | Tax withheld | 2,179 | $89.2K |
| Sep 10, 2026 | MOMTAZEE JAMES C Director | Tax withheld | 2,905 | $118.9K |
| Sep 8, 2026 | Fitzgerald Meghan Director | Sale 10b5-1 plan | 20,000 | $798.0K |
| Sep 8, 2026 | Fitzgerald Meghan Director | Option exercise 10b5-1 plan | 20,000 | $176.0K |
| Aug 28, 2026 | Venker Eric President & Immunovant CEO | Sale 10b5-1 plan | 166,182 | $5.92M |
| Aug 28, 2026 | Venker Eric President & Immunovant CEO | Sale 10b5-1 plan | 33,818 | $1.23M |
| Aug 28, 2026 | Venker Eric President & Immunovant CEO | Option exercise 10b5-1 plan | 200,000 | $770.0K |
| Aug 21, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 144,756 | $557.3K |
| Aug 21, 2026 | Sukhatme Mayukh President & CIO | Sale | 144,756 | $5.28M |
| Aug 20, 2026 | Venker Eric President & Immunovant CEO | Tax withheld | 13,909 | $512.4K |
| Aug 20, 2026 | Pulik Richard CFO | Tax withheld | 5,749 | $211.8K |
| Aug 20, 2026 | Sukhatme Mayukh President & CIO | Sale | 17,519 | $653.5K |
| Aug 20, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 17,519 | $67.4K |
| Aug 19, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 172,899 | $665.7K |
| Aug 19, 2026 | Sukhatme Mayukh President & CIO | Sale | 172,899 | $6.43M |
| Aug 18, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 31,801 | $122.4K |
| Aug 18, 2026 | Sukhatme Mayukh President & CIO | Sale | 105,141 | $3.85M |
| Aug 18, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 105,141 | $404.8K |
| Aug 18, 2026 | Sukhatme Mayukh President & CIO | Sale | 31,801 | $1.18M |
| Aug 17, 2026 | Sukhatme Mayukh President & CIO | Sale | 284,707 | $10.32M |
| Aug 17, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 284,707 | $1.10M |
| Aug 14, 2026 | Sukhatme Mayukh President & CIO | Sale | 243,177 | $8.81M |
| Aug 14, 2026 | Sukhatme Mayukh President & CIO | Option exercise | 243,177 | $936.2K |
| Jul 27, 2026 | Venker Eric President & Immunovant CEO | Option exercise 10b5-1 plan | 200,000 | $770.0K |
| Jul 27, 2026 | Venker Eric President & Immunovant CEO | Sale 10b5-1 plan | 200,000 | $6.99M |
| Jul 17, 2026 | MOMTAZEE JAMES C Director | Award | 405 | $0 |
| Jul 17, 2026 | Epperly Melissa B, Director | Award | 543 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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