Roivant Sciences Q1 Revenue Surges, R&D Costs Climb

TL;DR

Roivant Q1 revenue up to $100.5M from $27.3M, R&D up to $200.1M. Big growth, big spending.

AI Summary

Roivant Sciences Ltd. filed its 10-Q for the period ending June 30, 2024. The company reported License, Milestone, and Other Revenue of $100.5 million for the first quarter of fiscal year 2025, a significant increase from $27.3 million in the same period last year. Research and development expenses also rose to $200.1 million from $170.5 million year-over-year.

Why It Matters

The substantial revenue growth indicates successful commercialization or licensing deals, while increased R&D spending suggests continued investment in future drug development.

Risk Assessment

Risk Level: medium — The company's significant R&D expenses and reliance on future drug development present inherent risks.

Key Numbers

• $100.5M — Q1 Revenue (Significant increase from $27.3M in the prior year's quarter.)
• $200.1M — Q1 R&D Expenses (Increased from $170.5M year-over-year, indicating continued investment.)

Key Players & Entities

• Roivant Sciences Ltd. (company) — Filer of the 10-Q
• June 30, 2024 (date) — End of reporting period
• $100.5 million (dollar_amount) — License, Milestone, and Other Revenue for Q1 FY2025
• $27.3 million (dollar_amount) — License, Milestone, and Other Revenue for Q1 FY2024
• $200.1 million (dollar_amount) — Research and development expenses for Q1 FY2025
• $170.5 million (dollar_amount) — Research and development expenses for Q1 FY2024

FAQ

Key Financial Figures

• $0.0000000341740141 — nge on which registered Common Shares, $0.0000000341740141 per share ROIV The Nasdaq Global Se

Filing Documents

• ef20030921_10q.htm (10-Q) — 2143KB
• ef20030921_ex10-40.htm (EX-10.40) — 939KB
• ef20030921_ex10-41.htm (EX-10.41) — 426KB
• ef20030921_ex10-42.htm (EX-10.42) — 450KB
• ef20030921_ex10-43.htm (EX-10.43) — 60KB
• ef20030921_ex10-44.htm (EX-10.44) — 57KB
• ef20030921_ex31-1.htm (EX-31.1) — 12KB
• ef20030921_ex31-2.htm (EX-31.2) — 11KB
• ef20030921_ex32-1.htm (EX-32.1) — 5KB
• ef20030921_ex32-2.htm (EX-32.2) — 5KB
• image2.jpg (GRAPHIC) — 5KB
• image00003.jpg (GRAPHIC) — 34KB
• image00006.jpg (GRAPHIC) — 4KB
• image00007.jpg (GRAPHIC) — 1KB
• 0001140361-24-036642.txt ( ) — 11004KB
• roiv-20240630.xsd (EX-101.SCH) — 69KB
• roiv-20240630_cal.xml (EX-101.CAL) — 66KB
• roiv-20240630_def.xml (EX-101.DEF) — 360KB
• roiv-20240630_lab.xml (EX-101.LAB) — 835KB
• roiv-20240630_pre.xml (EX-101.PRE) — 487KB
• ef20030921_10q_htm.xml (XML) — 1069KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 7 Condensed Consolidated Balance Sheets as of June 30, 2024 and March 31, 2024 7 Condensed Consolidated Statements of Operations for the Three Months Ended June 30, 2024 and 2023 8 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended June 30, 2024 and 2023 9 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended June 30, 2024 and 2023 10 Condensed Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2024 and 2023 11 Notes to Condensed Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 102 Item 3. Defaults Upon Senior Securities 102 Item 4. Mine Safety Disclosures 102 Item 5. Other Information 103 Item 6. Exhibits 104

SIGNATURES

SIGNATURES 105 2 Table of Contents Where You Can Find More Information Investors and others should note that we may announce material business and financial information to our investors using our investor relations website (https://investor.roivant.com), filings we make with the Securities and Exchange Commission (the "SEC"), our corporate twitter account (@Roivant), other social media platforms, webcasts, press releases and conference calls. Similarly, our subsidiary Immunovant, Inc. may announce material business and financial information to its investors and others using its investor relations website (https://immunovant.com/investors), filings it makes with the SEC, social media platforms, webcasts, press releases and conference calls. We and our public company subsidiaries use these mediums to communicate with our and our public company subsidiaries' shareholders and the public about our company, our subsidiaries, our products and product candidates and other matters. It is possible that the information that we make available in this manner may be deemed to be material information. We therefore encourage investors and others interested in our company and our public company subsidiaries to review this information. The above-referenced information is not incorporated by reference into this filing and the website addresses and Twitter account name are provided only as inactive textual references. Summary Risk Factors You should consider carefully the risks described under "Risk Factors" in Part II, Item 1.A of this Quarterly Report on Form 10-Q. Unless the context otherwise requires, references in this section to "we," "us," "our," "Roivant" and the "Company" refer to Roivant Sciences Ltd. and its consolidated subsidiaries and affiliates, as the context requires. A summary of the risks that could materially and adversely affect our business, financial condition, operating results and prospects include the following: Risks Related to Our Business and

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains statements, including matters discussed under Part I, Item 2. "Management's Discussion and Analysis of Financial Condition and Results of Operations," Part II, Item 1. "Legal Proceedings," Part II, Item 1A. "Risk Factors" and in other sections of this report, that are "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, and statements that are not historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking The forward-looking statements contained in this Quarterly Report on Form 10-Q are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to risk associated with: our relatively limited operating history and the inherent uncertainties and risks involved in biopharmaceutical product development and commercializ

forward-looking statements to reflect events or circumstances after the date of such statements

forward-looking statements to reflect events or circumstances after the date of such statements. 6 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited). ROIVANT SCIENCES LTD. Condensed Consolidated Balance Sheets (unaudited, in thousands, except share and per share amounts) June 30, 2024 March 31, 2024 Assets Current assets: Cash and cash equivalents $ 5,678,514 $ 6,535,706 Other current assets 322,985 196,122 Total current assets 6,001,499 6,731,828 Property and equipment, net 17,840 19,058 Operating lease right-of-use assets 45,313 46,892 Investments measured at fair value 262,979 247,753 Intangible assets, net 136,009 137,842 Other assets 32,808 39,109 Total assets $ 6,496,448 $ 7,222,482 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 27,743 $ 53,225 Accrued expenses 138,288 175,586 Operating lease liabilities 9,489 9,893 Current portion of long-term debt (includes $ 6,000 and $ 6,000 accounted for under the fair value option at June 30, 2024 and March 31, 2024 , respectively) 12,000 12,000 Other current liabilities 27,525 16,054 Total current liabilities 215,045 266,758 Liability instruments measured at fair value 26,887 25,737 Operating lease liabilities, noncurrent 45,853 47,265 Long-term debt, net of current portion (includes $ 82,369 and $ 204,371 accounted for under the fair value option at June 30 , 2024 and March 31, 2024 , respectively) 311,716 430,591 Other liabilities 1,661 3,602 Total liabilities 601,162 773,953 Commitments and contingencies (Note 12) Shareholders' equity: Common shares, par value $ 0.0000000341740141 per share, 7,000,000,000 shares authorized and 739,053,106 and 806,677,954 shares issued and outstanding at June 30 , 2024 and March 31, 2024 , respectively — — Additional paid-in capital 4,781,788 5,396,492 Retained earnings 671,469 576,172 Accumulated other comprehensive loss ( 17,948 ) ( 4,083 ) Shareholders' equity attributable to Roivant Sciences Ltd. 5,435,309 5,968,581 Non

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