v3.26.1
Equity Method Investments (Tables)
 12 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Significant Equity Method Investments
Details regarding significant equity method investments are as follows:
Ownership (%) Aggregate Fair Value (in millions)
March 31, 2026March 31, 2025March 31, 2026March 31, 2025
Datavant(1)
9%9%$233.2 $167.4 
Arbutus20%20%$174.8 $135.6 
(1)The ownership percentage represents the Company’s equity interest in the outstanding Class A units of Datavant. Datavant’s capital structure includes preferred units that, among other features, have liquidation preferences and conversion features. Upon conversion of such preferred units into Class A units, the Company’s ownership interest would be diluted. Refer above for additional information regarding investment.
Schedule of Unrealized Losses (Gains) on Significant Equity Method Investments
The Company recognized unrealized (gains) losses on its significant equity method investments in the accompanying consolidated statements of operations as follows:
Unrealized (Gain) Loss on Investment (in millions)
Years Ended March 31,
202620252024
Datavant$(65.8)$(19.8)$31.1 
Arbutus$(39.2)$(35.4)$17.5 
Schedule of Consolidated Financial Information
Summarized consolidated financial information of Datavant, reported on a one quarter lag, is as follows (in thousands):
Twelve Months Ended December 31,
202520242023
Revenue$1,425,992 $1,128,005 $991,107 
Gross profit$668,847 $461,521 $376,593 
Net loss$(132,747)$(105,025)$(395,195)
As of December 31,
20252024
Current assets$461,460 $656,803 
Noncurrent assets$4,284,726 $2,340,701 
Current liabilities$469,057 $329,614 
Noncurrent liabilities$4,032,660 $1,237,271 
Redeemable units$241,921 $1,267,290 
Summarized consolidated financial information of Arbutus is as follows (in thousands):
Twelve Months Ended March 31,
202620252024
Revenue$191,445 $6,403 $12,986 
Income (loss) from operations$156,447 $(82,655)$(80,053)
Net income (loss)$160,720 $(76,571)$(74,385)
As of March 31,
20262025
Current assets$277,011 $116,808 
Noncurrent assets$153 $202 
Current liabilities$5,105 $19,431 
Noncurrent liabilities$11,882 $18,422