| Schedule of Discontinued Operations |
The following table presents components of discontinued operations related to the Dermavant Transaction included in “Income (loss) from discontinued operations, net of tax” (in thousands): | | | | | | | | | | | | | | | | | Years Ended March 31, | | | | 2025 | | 2024 | | Product revenue, net | | | $ | 41,599 | | | $ | 75,057 | | | License, milestone and other revenue | | | 33,838 | | | 17,025 | | | Revenue, net | | | 75,437 | | | 92,082 | | | Operating expenses: | | | | | | | Cost of revenues | | | 12,116 | | | 13,961 | | | Research and development | | | 24,307 | | | 61,827 | | | Selling, general and administrative | | | 119,879 | | | 271,310 | | | Total operating expenses | | | 156,302 | | | 347,098 | | | Loss from operations | | | (80,865) | | | (255,016) | | Gain on sale of subsidiary interests(1) | | | (376,506) | | | — | | | Change in fair value of debt | | | (97,322) | | | 32,105 | | Interest expense(2) | | | 30,556 | | | 34,778 | | | Other income, net | | | (11,257) | | | (7,473) | | | Income (loss) from discontinued operations before income taxes | | | 373,664 | | | (314,426) | | | Income tax expense | | | 634 | | | 721 | | | Income (loss) from discontinued operations, net of tax | | | $ | 373,030 | | | $ | (315,147) | | | | | | | | | Loss from discontinued operations before income taxes attributable to noncontrolling interests | | | $ | (155) | | | $ | (1,367) | | | Income (loss) from discontinued operations before income taxes attributable to Roivant Sciences Ltd. | | | 373,819 | | | (313,059) | | | Income (loss) from discontinued operations before income taxes | | | $ | 373,664 | | | $ | (314,426) | |
(1)Gain on sale of subsidiary interests includes the release of accumulated other comprehensive loss of $19.9 million, primarily associated with the realization of Dermavant’s cumulative translation adjustments. (2)Interest expense consists of interest payments related to outstanding debt held by Dermavant as well as the associated non-cash amortization of debt discounts and issuance costs. Additionally, for the year ended March 31, 2025, interest expense includes an $8.8 million loss on extinguishment of the Credit Facility. The following table summarizes significant non-cash operating and investing items from discontinued operations (in thousands): | | | | | | | | | | | | | | | | | Years Ended March 31, | | | | 2025 | | 2024 | | Gain on sale of subsidiary interests | | | $ | (376,506) | | | $ | — | | | Share-based compensation | | | $ | 9,666 | | | $ | 12,163 | | | Change in fair value of debt | | | $ | (97,322) | | | $ | 32,105 | | | Loss on extinguishment of debt | | | $ | 8,848 | | | $ | — | | | Depreciation and amortization | | | $ | 6,739 | | | $ | 11,457 | |
|