ARQT · Arcutis Biotherapeutics, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105.40M | - | $99.22M | $81.50M | $65.85M | - | $38.11M | $30.86M | $49.57M | - |
| Cost of Revenue | $9.78M | - | $8.69M | $7.49M | $8.83M | - | $5.50M | $776.0K | $3.26M | - |
| Gross Profit | $95.61M | - | $90.53M | $74.01M | $57.02M | - | $32.61M | $30.08M | $46.31M | - |
| R&D | $30.63M | - | $19.60M | $19.45M | $17.54M | - | $19.50M | $19.30M | $23.14M | - |
| SG&A | $74.08M | - | $62.40M | $69.17M | $64.00M | - | $58.82M | $58.17M | $54.79M | - |
| Total Operating Expenses | $114.49M | - | $90.69M | $96.11M | $90.38M | - | $83.82M | $71.95M | $81.19M | - |
| D&A | - | - | - | - | $153.0K | - | - | - | $170.0K | - |
| Operating Income | ($9.09M) | - | $8.53M | ($14.61M) | ($24.53M) | - | ($39.07M) | ($50.08M) | ($31.62M) | - |
| Interest Expense | $4.37M | - | $3.07M | $3.03M | $7.48M | - | $7.56M | $7.35M | $7.48M | - |
| Income Tax | $93.0K | - | $80.0K | $342.0K | $279.0K | - | $0 | $0 | $324.0K | - |
| Net Income | ($11.29M) | - | $7.41M | ($15.89M) | ($25.06M) | - | ($41.54M) | ($52.33M) | ($35.38M) | - |
| EPS - Basic | ($0.09) | - | $0.06 | ($0.13) | ($0.20) | - | ($0.33) | ($0.42) | ($0.32) | - |
| EPS - Diluted | ($0.09) | - | $0.06 | ($0.13) | ($0.20) | - | ($0.33) | ($0.42) | ($0.32) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $34.76M | $42.91M | $47.12M | $72.74M | $53.10M | $71.33M | $134.85M | $84.27M | $190.10M | $88.39M |
| Accounts Receivable | $144.38M | $146.23M | $115.12M | $106.69M | $85.42M | $73.07M | $60.12M | $43.41M | $37.15M | $25.81M |
| Inventory | $37.39M | $22.63M | $22.42M | $16.32M | $16.61M | $14.53M | $14.02M | $13.88M | $13.25M | $13.13M |
| Accounts Payable | $18.30M | $12.53M | $5.79M | $15.08M | $24.53M | $14.22M | $19.32M | $7.94M | $12.97M | $11.99M |
| Current Assets | $438.06M | $411.23M | $349.22M | $332.78M | $323.67M | $335.82M | $423.72M | $434.59M | $468.06M | $330.43M |
| Total Assets | $460.00M | $432.97M | $370.98M | $352.43M | $344.11M | $348.89M | $437.35M | $444.76M | $478.54M | $341.37M |
| Current Liabilities | $163.20M | $129.84M | $99.77M | $103.94M | $91.13M | $81.01M | $172.43M | $51.35M | $47.31M | $46.67M |
| Long-term Debt | $101.47M | $107.96M | $107.50M | $107.05M | $107.62M | $107.20M | $105.09M | $203.81M | $202.80M | $201.80M |
| Total Liabilities | $270.36M | $243.49M | $212.90M | $213.46M | $201.45M | $191.35M | $280.71M | $258.33M | $253.60M | $252.70M |
| Stockholders' Equity | $189.65M | $189.48M | $158.07M | $138.97M | $142.66M | $157.54M | $156.64M | $186.43M | $224.94M | $88.67M |
| Retained Earnings | ($1.15B) | ($1.14B) | ($1.16B) | ($1.16B) | ($1.15B) | ($1.12B) | ($1.11B) | ($1.07B) | ($1.02B) | ($981.90M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.24M | - | - | - | ($30.38M) | - | - | - | ($31.60M) | - |
| Investing Cash Flow | ($11.33M) | - | - | - | $11.75M | - | - | - | ($28.70M) | - |
| Financing Cash Flow | $1.07M | - | - | - | $395.0K | - | - | - | $161.76M | - |
| CapEx | $0 | - | - | - | $608.0K | - | - | - | $0 | - |
| Free Cash Flow | $2.24M | - | - | - | ($30.99M) | - | - | - | ($31.60M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 90.7% | - | 91.2% | 90.8% | 86.6% | - | 85.6% | 97.5% | 93.4% | - |
| Operating margin | -8.6% | - | 8.6% | -17.9% | -37.3% | - | -102.5% | -162.3% | -63.8% | - |
| EBITDA margin | - | - | - | - | -37.0% | - | - | - | -63.5% | - |
| Net margin | -10.7% | - | 7.5% | -19.5% | -38.1% | - | -109.0% | -169.6% | -71.4% | - |
| Free cash flow margin | 2.1% | - | - | - | -47.1% | - | - | - | -63.8% | - |
| FCF / Net income | -0.20 | - | - | - | 1.24 | - | - | - | 0.89 | - |
| R&D / Revenue | 29.1% | - | 19.8% | 23.9% | 26.6% | - | 51.2% | 62.5% | 46.7% | - |
| SG&A / Revenue | 70.3% | - | 62.9% | 84.9% | 97.2% | - | 154.3% | 188.5% | 110.5% | - |
| Effective tax rate | - | - | 1.1% | - | - | - | - | - | - | - |
| Return on assets | -2.5% | - | 2.0% | -4.5% | -7.3% | - | -9.5% | -11.8% | -7.4% | - |
| Return on equity | -6.0% | - | 4.7% | -11.4% | -17.6% | - | -26.5% | -28.1% | -15.7% | - |
| Return on invested capital | -2.5% | - | 3.2% | -4.7% | -7.7% | - | -11.8% | -10.1% | -5.8% | - |
| Liquidity | ||||||||||
| Current ratio | 2.68 | 3.17 | 3.50 | 3.20 | 3.55 | 4.15 | 2.46 | 8.46 | 9.89 | 7.08 |
| Quick ratio | 2.46 | 2.99 | 3.28 | 3.04 | 3.37 | 3.97 | 2.38 | 8.19 | 9.61 | 6.80 |
| Cash ratio | 0.21 | 0.33 | 0.47 | 0.70 | 0.58 | 0.88 | 0.78 | 1.64 | 4.02 | 1.89 |
| Leverage | ||||||||||
| Debt / Equity | 0.54 | 0.57 | 0.68 | 0.77 | 0.75 | 0.68 | 0.67 | 1.09 | 0.90 | 2.28 |
| Debt / Assets | 0.22 | 0.25 | 0.29 | 0.30 | 0.31 | 0.31 | 0.24 | 0.46 | 0.42 | 0.59 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -2.1x | - | 2.8x | -4.8x | -3.3x | - | -5.2x | -6.8x | -4.2x | - |
| Equity multiplier | 2.43 | 2.29 | 2.35 | 2.54 | 2.41 | 2.21 | 2.79 | 2.39 | 2.13 | 3.85 |
| Liabilities / Assets | 0.59 | 0.56 | 0.57 | 0.61 | 0.59 | 0.55 | 0.64 | 0.58 | 0.53 | 0.74 |
| Efficiency | ||||||||||
| Asset turnover | 0.23 | - | 0.27 | 0.23 | 0.19 | - | 0.09 | 0.07 | 0.10 | - |
| Inventory turnover | 0.26 | - | 0.39 | 0.46 | 0.53 | - | 0.39 | 0.06 | 0.25 | - |
| Days sales outstanding | 500d | - | 423d | 478d | 473d | - | 576d | 513d | 274d | - |
| Days inventory outstanding | 1395d | - | 942d | 795d | 687d | - | 930d | 6529d | 1485d | - |
| Days payable outstanding | 683d | - | 244d | 735d | 1014d | - | 1282d | 3736d | 1454d | - |
| Cash conversion cycle | 1212d | - | 1122d | 538d | 146d | - | 224d | 3306d | 305d | - |
| Valuation | ||||||||||
| P / E | - | - | 314.2x | - | - | - | - | - | - | - |
| P / B | 0.0x | - | 15.8x | 12.8x | 13.8x | - | 7.4x | 6.2x | 4.9x | - |
| P / S | 0.0x | - | 25.2x | 21.8x | 29.9x | - | 30.3x | 37.2x | 22.2x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 60.1% | - | 160.4% | 164.1% | 32.8% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 67.7% | - | 177.7% | 146.0% | 23.1% | - | - | - | - | - |
| Operating income growth (YoY) | 62.9% | - | - | 70.8% | 22.4% | - | -5.9% | 25.0% | 58.5% | - |
| Net income growth (YoY) | 54.9% | - | - | 69.6% | 29.2% | - | 7.2% | 26.3% | 55.8% | - |
| EPS growth (YoY) | 55.0% | - | - | 69.0% | 37.5% | - | 54.8% | 63.8% | 75.6% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | 1.9% | - | - | - | 60.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 32.9% | 20.3% | 0.9% | -25.5% | -36.6% | 77.7% | 235.3% | 131.6% | 61.0% | -57.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$376.07M totalReportable Segment$376.07M · 100.0%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Arcutis Biotherapeutics against the 5 most active filers in the same SIC group.