| Net (Loss) Income per Common Share |
Net (Loss) Income per Common Share The computation of the numerator to derive the basic and diluted net (loss) income per common share amounts presented on the face of the accompanying consolidated statement of operations are as follows (in thousands): | | | | | | | | | | | | | | | | | | | Years Ended March 31, | | 2026 | | 2025 | | 2024 | | (Loss) income from continuing operations, net of tax | $ | (397,907) | | | $ | (729,764) | | | $ | 4,546,353 | | | Less: Loss from continuing operations, net of tax, attributable to noncontrolling interests | (98,136) | | | (184,598) | | | (116,350) | | | (Loss) income from continuing operations, net of tax, attributable to Roivant Sciences Ltd., basic | (299,771) | | | (545,166) | | | 4,662,703 | | Less: Earnings allocated to subsidiary potentially dilutive common stock equivalents(1) | 76,488 | | | — | | | — | | | (Loss) income from continuing operations, net of tax, attributable to Roivant Sciences Ltd., diluted | $ | (376,259) | | | $ | (545,166) | | | $ | 4,662,703 | | | | | | | | | Income (loss) from discontinued operations, net of tax | $ | — | | | $ | 373,030 | | | $ | (315,147) | | | Less: Net loss from discontinued operations, net of tax attributable to noncontrolling interests | — | | | (155) | | | (1,370) | | | Income (loss) from discontinued operations, net of tax, attributable to Roivant Sciences Ltd., basic and diluted | $ | — | | | $ | 373,185 | | | $ | (313,777) | | | | | | | | | Net (loss) income attributable to Roivant Sciences Ltd., basic | $ | (299,771) | | | $ | (171,981) | | | $ | 4,348,926 | | | Net (loss) income attributable to Roivant Sciences Ltd., diluted | $ | (376,259) | | | $ | (171,981) | | | $ | 4,348,926 | | | | | | | | (1) As a result of subsidiary net income for the year ended March 31, 2026, an adjustment was made to the diluted numerator for consolidated net (loss) income per common share to reflect the allocation of such net income to potentially dilutive common stock equivalents granted pursuant to the subsidiary EIP. |
Basic net (loss) income per common share is computed by dividing net (loss) income attributable to Roivant Sciences Ltd. by the weighted-average number of common shares outstanding during the period. Diluted net (loss) income per common share is computed by dividing the net (loss) income attributable to Roivant Sciences Ltd. by the diluted weighted-average number of common shares outstanding during the period. For periods of loss from continuing operations, diluted loss per share is calculated similar to basic loss per share as the effect of including all potentially dilutive common stock equivalents is anti-dilutive. For the years ended March 31, 2026 and 2025, all outstanding common stock equivalents have been excluded from the computation of diluted loss per share because their effect was anti-dilutive due to the loss from continuing operations. As of March 31, 2026, 2025 and 2024, the following potentially dilutive common stock equivalents were excluded from the computation of diluted net (loss) income per common share: | | | | | | | | | | | | | | | | | | | March 31, 2026 | | March 31, 2025 | | March 31, 2024 | | Stock options and performance stock options | 76,091,993 | | 139,412,098 | | 54,648,258 | | Restricted stock units and performance restricted stock units (non-vested) | 60,793,247 | | 50,992,414 | | 5,422,465 | March 2020 CVARs(1) | — | | 17,548,368 | | 17,548,368 | | November 2021 CVARs (non-vested) | — | | 348,527 | | 249,120 | | Restricted common stock (non-vested) | — | | — | | 255,911 | | Earn-Out Shares (non-vested) | — | | 3,080,387 | | 3,080,387 | | Other stock based awards and instruments issued | 1,170,140 | | 4,731,198 | | 3,924,305 |
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