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Roivant is a biopharmaceutical company that aims to improve the lives of patients by accelerating the development and commercialization of medicines that matter. Roivant s pipeline includes brepocitinib, a potent small molecule inhibitor of JAK1 and TYK2 currently under review at the FDA for the treatment of dermatomyositis and also in late stage development for the treatment of non-infectious …
The business is unprofitable at the operating level (-6235.69% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 71.6% YoY. Margins deteriorated 2782.4pp alongside, both lines moving the wrong way.
Negative free cash flow of -$759M. The business is consuming cash, not generating it. Operating margin contracted 2782.4pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$8M
▼ -71.6% YoY
Net Income (TTM)
-$300M
▼ -74.3% YoY
Op. Margin
-6235.69%
▼ -2782.4pp YoY
ROIC
-8.64%
▲ +5.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$759M
▲ +10.1% YoY
Op. Cash Flow (TTM)
-$750M
▲ +10.6% YoY
Net Debt
-$4.18B
Net Cash Position
Cash & Equiv.
$4.29B
5Y CAGR: -19.1%
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