NASDAQ : ARQT
Arcutis Biotherapeutics, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 32.07 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.03B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Arcutis Biotherapeutics, Inc. (ARQT) reported revenue of 463.98M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 461.98M | 372.07M | 166.54M | 29.19M | 3.69M | |
| Other Revenue | 2.00M | 4.00M | 30.00M | 30.42M | ||
| Revenue | 463.98M | 376.07M | 196.54M | 59.61M | 3.69M | |
| Cost of Revenue | 41.10M | 36.70M | 19.13M | 4.99M | 754.00K | |
| Gross Profit | 422.88M | 339.38M | 177.41M | 54.62M | 2.93M | |
| Selling, General & Admin | 297.60M | 274.55M | 229.39M | 185.15M | 122.12M | 60.97M |
| Research & Development | 91.04M | 77.05M | 76.42M | 110.58M | 182.44M | 145.56M |
| Operating Expenses | 388.63M | 351.60M | 305.81M | 295.72M | 304.56M | 206.53M |
| Operating Income | 34.25M | -12.23M | -128.40M | -241.10M | -301.63M | -206.53M |
| Interest Expense | -13.85M | -12.08M | -27.17M | -29.71M | -15.65M | |
| Interest & Investment Income | 8.84M | 8.90M | 16.13M | 12.52M | 5.82M | 173.00K |
| Other Non Operating Income (Expenses) | 53.00K | 443.00K | 47.00K | -731.00K | ||
| Pretax Income | 29.30M | -14.97M | -139.39M | -259.03M | -311.46M | -206.36M |
| Income Tax Expense | 779.00K | 1.17M | 647.00K | 3.11M | ||
| Net Income | 28.52M | -16.14M | -140.04M | -262.14M | -311.46M | -206.36M |
| Net Income to Common | 28.52M | -16.14M | -140.04M | -262.14M | -311.46M | -206.36M |
| Shares Outstanding (Basic) | 128.95M | 127.23M | 120.96M | 69.31M | 55.03M | 49.41M |
| Shares Outstanding (Diluted) | 131.95M | 127.23M | 120.96M | 69.31M | 55.03M | 49.41M |
| EPS (Basic) | 0.22 | -0.13 | -1.16 | -3.78 | -5.66 | -4.18 |
| EPS (Diluted) | 0.22 | -0.13 | -1.16 | -3.78 | -5.66 | -4.18 |
| Free Cash Flow | 39.15M | -6.31M | -112.30M | -247.49M | -258.05M | -175.62M |
| Free Cash Flow Per Share | 0.30 | -0.05 | -0.93 | -3.57 | -4.69 | -3.56 |
| Gross Margin | 91.14% | 90.24% | 90.27% | 91.63% | 79.54% | |
| Operating Margin | 7.38% | -3.25% | -65.33% | -404.49% | -8,183.04% | |
| Profit Margin | 6.15% | -4.29% | -71.25% | -439.79% | -8,449.76% | |
| Free Cash Flow Margin | 8.44% | -1.68% | -57.14% | -415.20% | -7,000.76% | |
| EBITDA | 36.50M | -7.56M | -126.44M | -240.35M | -300.69M | -206.07M |
| EBITDA Margin | 7.87% | -2.01% | -64.33% | |||
| D&A For EBITDA | 2.25M | 4.67M | 1.96M | 750.00K | 934.00K | 454.00K |
| EBIT | 34.25M | -12.23M | -128.40M | -241.10M | -301.63M | -206.53M |
| EBIT Margin | 7.38% | -3.25% | -65.33% | |||
| Revenue as Reported | 463.98M | 376.07M | 196.54M | 59.61M | 3.69M | |
| Advertising Expenses | 25.30M | 6.90M | 11.20M | 1.50M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 34.12M | 42.91M | 71.33M | 88.40M | 53.64M | 96.45M |
| Short-Term Investments | 204.43M | 178.07M | 156.62M | 183.46M | 355.95M | 290.61M |
| Cash & Short-Term Investments | 238.55M | 220.98M | 227.96M | 271.86M | 409.59M | 387.06M |
| Accounts Receivable | 155.16M | 146.23M | 73.07M | 25.81M | 8.46M | |
| Receivables | 155.16M | 146.23M | 73.07M | 25.81M | 8.46M | |
| Inventory | 38.88M | 22.63M | 14.53M | 13.13M | 7.51M | |
| Prepaid Expenses | 18.00M | 11.59M | 12.29M | 10.10M | 7.38M | 14.17M |
| Restricted Cash | 308.00K | 308.00K | 617.00K | 925.00K | 1.23M | 1.54M |
| Other Current Assets | 16.77M | 9.48M | 7.37M | 8.61M | 3.23M | |
| Total Current Assets | 467.67M | 411.23M | 335.82M | 330.43M | 437.41M | 402.77M |
| Property, Plant & Equipment | 5.12M | 5.51M | 2.99M | 3.90M | 4.60M | 5.30M |
| Other Intangible Assets | 13.69M | 14.81M | 9.48M | 6.44M | 7.19M | |
| Other Long-Term Assets | 2.05M | 1.42M | 596.00K | 596.00K | 78.00K | 78.00K |
| Total Assets | 488.54M | 432.97M | 348.89M | 341.37M | 449.27M | 408.15M |
| Accounts Payable | 6.60M | 12.53M | 14.22M | 11.99M | 8.83M | 7.35M |
| Accrued Expenses | 146.79M | 116.02M | 66.79M | 33.94M | 28.32M | 25.54M |
| Current Portion of Long-Term Debt | 6.95M | 1.00M | ||||
| Current Portion of Leases | 294.00K | 735.00K | 657.00K | 433.00K | ||
| Total Current Liabilities | 160.34M | 129.84M | 81.01M | 46.67M | 37.81M | 33.33M |
| Long-Term Debt | 101.95M | 107.96M | 107.20M | 201.80M | 197.77M | 72.35M |
| Long-Term Leases | 5.24M | 5.27M | 2.56M | 3.38M | 4.12M | 4.77M |
| Other Long-Term Liabilities | 431.00K | 431.00K | 570.00K | 849.00K | 25.00K | |
| Total Liabilities | 267.96M | 243.49M | 191.35M | 252.70M | 239.69M | 110.47M |
| Common Stock | 12.00K | 12.00K | 12.00K | 9.00K | 6.00K | 5.00K |
| Additional Paid-In Capital | 1.36B | 1.33B | 1.28B | 1.07B | 930.42M | 706.23M |
| Retained Earnings | -1.13B | -1.14B | -1.12B | -981.90M | -719.76M | -408.31M |
| Comprehensive Income & Other | -656.00K | -44.00K | -7.00K | 4.00K | -1.09M | -255.00K |
| Total Common Equity | 220.58M | 189.48M | 157.54M | 88.67M | 209.58M | 297.68M |
| Shareholders' Equity | 220.58M | 189.48M | 157.54M | 88.67M | 209.58M | 297.68M |
| Total Liabilities & Equity | 488.54M | 432.97M | 348.89M | 341.37M | 449.27M | 408.15M |
| Total Debt | 114.14M | 114.52M | 109.77M | 205.92M | 202.54M | 77.56M |
| Net Cash (Debt) | 124.42M | 106.46M | 118.19M | 65.94M | 207.05M | 309.50M |
| Net Cash Per Share | 0.94 | 0.84 | 0.98 | 0.95 | 3.76 | 6.26 |
| Filing Date Shares Outstanding | 125.69M | 124.03M | 118.64M | 96.81M | 61.08M | 50.38M |
| Total Common Shares Outstanding | 125.59M | 123.33M | 117.85M | 96.79M | 61.04M | 50.26M |
| Working Capital | 307.33M | 281.39M | 254.81M | 283.76M | 399.60M | 369.45M |
| Book Value Per Share | 1.76 | 1.54 | 1.34 | 0.92 | 3.43 | 5.92 |
| Tangible Book Value | 206.89M | 174.67M | 148.06M | 82.23M | 202.39M | 297.68M |
| Tangible Book Value Per Share | 1.65 | 1.42 | 1.26 | 0.85 | 3.32 | 5.92 |
| Machinery | 2.62M | 1.93M | 1.79M | 1.36M | 1.12M | |
| Leasehold Improvements | 1.57M | 1.57M | 1.57M | 1.57M | 1.57M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 28.52M | -16.14M | -140.04M | -262.14M | -311.46M | -206.36M |
| Depreciation & Amortization | 2.25M | 4.67M | 1.96M | 750.00K | 934.00K | 454.00K |
| Asset Writedown & Restructuring Costs | 29.63M | |||||
| Loss (Gain) From Sale of Investments | -945.00K | -2.09M | -6.90M | -6.99M | -2.25M | 3.45M |
| Stock-Based Compensation | 43.55M | 40.36M | 41.73M | 38.81M | 32.68M | 23.89M |
| Other Operating Activities | 2.65M | 2.41M | 6.17M | 6.01M | 2.92M | 309.00K |
| Change in Accounts Receivable | -48.48M | -73.16M | -47.26M | -17.35M | -8.46M | |
| Change in Inventory | -21.65M | -7.33M | -400.00K | -5.62M | -7.51M | |
| Change in Accounts Payable | -8.48M | -1.69M | 2.23M | 3.15M | 1.56M | 245.00K |
| Change in Other Net Operating Assets | 41.90M | 47.36M | 30.35M | -3.68M | 4.23M | 3.38M |
| Operating Cash Flow | 39.31M | -5.62M | -112.16M | -247.06M | -257.71M | -174.63M |
| Capital Expenditures | -158.00K | -686.00K | -143.00K | -428.00K | -333.00K | -995.00K |
| Sale (Purchase) of Intangibles | -10.00M | -5.00M | -22.95M | |||
| Investment in Securities | -85.82M | -19.57M | 33.96M | 180.66M | -63.92M | -74.96M |
| Investing Cash Flow | -85.98M | -30.25M | 28.82M | 180.23M | -87.20M | -75.95M |
| Long-Term Debt Issued | 125.00M | 73.99M | ||||
| Long-Term Debt Repaid | -100.00M | |||||
| Net Debt Issued (Repaid) | -100.00M | 125.00M | 73.99M | |||
| Issuance of Common Stock | 9.26M | 6.97M | 166.20M | 101.32M | 178.99M | 209.60M |
| Other Financing Activities | -1.00M | -2.19M | -1.64M | |||
| Financing Cash Flow | 8.26M | 6.97M | 66.20M | 101.32M | 301.80M | 281.95M |
| Foreign Exchange Rate Adjustments | -201.00K | 168.00K | -235.00K | -50.00K | ||
| Net Cash Flow | -38.62M | -28.74M | -17.37M | 34.45M | -43.12M | 31.37M |
| Free Cash Flow | 39.15M | -6.31M | -112.30M | -247.49M | -258.05M | -175.62M |
| Free Cash Flow Margin | 8.44% | -1.68% | -57.14% | -415.20% | -7,000.76% | |
| Free Cash Flow Per Share | 0.30 | -0.05 | -0.93 | -3.57 | -4.69 | -3.56 |
| Levered Free Cash Flow | 21.69M | -15.70M | -72.90M | -152.09M | -195.81M | -102.77M |
| Unlevered Free Cash Flow | 30.34M | -8.15M | -55.92M | -133.52M | -186.03M | -102.77M |
| Cash Interest Paid | 11.99M | 10.33M | 22.21M | 25.45M | 12.64M | 142.00K |
| Change in Working Capital | -36.71M | -34.83M | -15.08M | -23.50M | -10.18M | 3.62M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.03B | 3.56B | 1.63B | 304.85M | 901.45M | 1.04B |
| Enterprise Value | 3.91B | 3.48B | 1.51B | 282.81M | 626.16M | 681.08M |
| Last Close Price | 32.07 | 29.04 | 13.93 | 3.23 | 14.80 | 20.74 |
| Forward PE | 47.39 | 76.62 | ||||
| PS Ratio | 8.69 | 9.46 | 8.30 | 5.11 | 244.56 | |
| PB Ratio | 18.26 | 18.77 | 10.35 | 3.44 | 4.30 | 3.50 |
| P/TBV Ratio | 19.48 | 20.36 | 11.01 | 3.71 | 4.45 | 3.50 |
| EV/Sales Ratio | 8.42 | 9.25 | 7.67 | 4.75 | 169.88 | |
| Debt / Equity Ratio | 0.52 | 0.60 | 0.70 | 2.32 | 0.97 | 0.26 |
| Debt / FCF Ratio | 2.92 | |||||
| Net Debt / Equity Ratio | -0.56 | -0.56 | -0.75 | -0.74 | -0.99 | -1.04 |
| Net Debt / EBITDA Ratio | -3.41 | 14.08 | 0.94 | 0.27 | 0.69 | 1.50 |
| Net Debt / FCF Ratio | -3.18 | 16.87 | 1.05 | 0.27 | 0.80 | 1.76 |
| Asset Turnover | 1.10 | 0.96 | 0.57 | 0.15 | 0.01 | |
| Inventory Turnover | 1.49 | 1.98 | 1.38 | 0.48 | ||
| Quick Ratio | 2.46 | 2.83 | 3.72 | 6.38 | 11.06 | 11.61 |
| Current Ratio | 2.92 | 3.17 | 4.14 | 7.08 | 11.57 | 12.09 |
| Return on Equity (ROE) | 15.86% | -9.30% | -113.76% | -175.79% | -122.80% | -72.62% |
| Return on Assets (ROA) | 5.09% | -1.96% | -23.25% | -38.12% | -43.97% | -36.55% |
| Return on Capital Employed (ROCE) | 10.40% | -4.00% | -47.90% | -81.80% | -73.30% | -55.10% |
| Earnings Yield | 0.67% | -0.45% | -8.59% | -85.99% | -34.55% | -19.78% |
| FCF Yield | 0.97% | -0.18% | -6.89% | -81.18% | -28.63% | -16.84% |
| Buyback Yield / Dilution | -5.07% | -5.19% | -74.53% | -25.94% | -11.39% | -38.52% |