Arcutis Biotherapeutics, Inc. (ARQT)
Arcutis Biotherapeutics, Inc. is a biopharmaceutical firm dedicated to developing and marketing therapies for a range of skin-related diseases. The company's flagship investigational compound, ARQ-151, a roflumilast cream administered topically, has successfully concluded late-stage clinical development for treating both plaque psoriasis and atopic dermatitis. Beyond its lead asset, Arcutis's pipeline includes several other promising compounds. Among these is ARQ-154, a roflumilast foam applied topically, aimed at seborrheic dermatitis and scalp psoriasis. Furthermore, ARQ-252, a topical selective Janus kinase type 1 (JAK1) inhibitor, is under investigation for hand eczema and vitiligo. ARQ-255, a variation of ARQ-252 designed for deeper dermal absorption, is being explored for alopecia areata. Established in 2016, the company was initially named Arcutis, Inc. before changing to Arcutis Biotherapeutics, Inc. in October 2019. Its corporate headquarters are situated in Westlake Village, California.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Arcutis Biotherapeutics, Inc.
NASDAQ:ARQTHealthcare · Biotechnology
+0.31%$32.07
AH$31.82-0.78%vs close
Mkt Cap$4.03B
Float113.54M
O/S125.69M
Vol
$ Vol
RVOL
Inst Own-
SI18.0%
Earnings
Dilution
Financials Summary
Revenue$376.07M
Net Income-$16.14M
Total Assets$432.97M
Free Cash Flow-$6.31M
Debt & Equity
Debt 3%
Equity 97%
Total Debt$6.27M
Total Equity$189.48M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ARQT's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$432.97M
Liabilities$243.49M
Accounts Receivable$146.23M
Accounts Payable$12.53M
Inventory$22.63M
PP&E (Net)$5.51M
Goodwill$0
Intangible Assets$14.81M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $376.07M | $196.54M | $59.61M | $3.69M | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | 91.3% | 229.7% | 1517.1% | - | - | - | - | - | - |
| Cost of Revenue | $36.7M | $19.13M | $4.99M | $754K | $763K | $455K | $195K | $0 | $0 |
| Gross Profit | $339.38M | $177.41M | $54.62M | $2.93M | -$763K | -$455K | -$195K | $0 | $0 |
| Gross Margin | 90.2% | 90.3% | 91.6% | 79.5% | - | - | - | - | - |
| Research and Development | $77.05M | $76.42M | $110.58M | $182.44M | $145.56M | $115.31M | $36.52M | $17.94M | $3.41M |
| Selling, General, and Administrative | $274.55M | $229.39M | $185.15M | $122.12M | $60.97M | $20.88M | $6.42M | $1.79M | $695K |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $351.6M | $305.81M | $295.72M | $304.56M | $205.77M | $136.19M | $42.94M | $19.73M | $4.11M |
| Operating Income (EBIT) | -$12.23M | -$128.4M | -$241.1M | -$301.63M | -$206.53M | -$136.65M | -$43.13M | -$19.73M | -$4.11M |
| Operating Margin | -3.3% | -65.3% | -404.5% | -8183.0% | - | - | - | - | - |
| Interest Expense | $12.08M | $27.17M | $29.71M | $15.65M | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $173K | $967K | $1.14M | $0 | $0 |
| Other Income (Expense) | -$2.74M | -$10.99M | -$17.93M | -$9.83M | $173K | $967K | $1.14M | $480K | -$872K |
| Income Before Tax (EBT) | -$14.97M | -$139.39M | -$259.03M | -$311.46M | -$206.36M | -$135.68M | -$42M | -$19.25M | -$4.98M |
| Income Tax Expense | $1.17M | $647K | $3.11M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$16.14M | -$140.04M | -$262.14M | -$311.46M | -$206.36M | -$135.68M | -$42M | -$19.25M | -$4.98M |
| Net Income Margin | -4.3% | -71.3% | -439.8% | -8449.8% | - | - | - | - | - |
| Supplementary Data | |||||||||
| EPS | -0.13 | -1.16 | -3.78 | -5.66 | -4.17 | -3.80 | -1.10 | -0.53 | -4.71 |
| Diluted EPS | -0.13 | -1.16 | -3.78 | -5.66 | -4.17 | -3.80 | -1.10 | -0.53 | -4.71 |
| Weighted Average OS | 127.23M | 120.96M | 69.31M | 55.03M | 49.41M | 35.67M | 38.09M | 36.24M | 1.06M |
| EBITDA | $1.78M | -$109.63M | -$228.56M | -$294.87M | -$205.9M | -$135.56M | -$41.8M | $480K | -$872K |
| EBITDA Margin | 0.5% | -55.8% | -383.5% | -7999.8% | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $42.91M | $71.33M | $88.4M | $53.64M | $97.99M | $65.08M | $63.34M | $39.39M | $3.42M |
| Short-Term Investments | $178.07M | $156.62M | $183.46M | $355.95M | $290.61M | $219.36M | $37.93M | $11.55M | $0 |
| Cash and Short-Term Investments | $220.98M | $227.96M | $271.86M | $409.59M | $388.6M | $284.44M | $101.27M | $50.94M | $3.42M |
| Accounts Receivable | $146.23M | $73.07M | $25.81M | $8.46M | $362K | $510K | $0 | $0 | $0 |
| Inventory | $22.63M | $14.53M | $13.13M | $7.51M | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $9.79M | $8.82M | $9.53M | $4.46M | $7.66M | $1.54M | $1.89M | $0 | $0 |
| Total Current Assets | $411.23M | $335.82M | $330.43M | $437.41M | $402.77M | $292.83M | $106.47M | $51.1M | $3.82M |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $5.51M | $2.99M | $3.9M | $4.6M | $5.3M | $5.37M | $491K | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $14.81M | $9.48M | $6.44M | $7.19M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $1.42M | $596K | $596K | $78K | $78K | $78K | $47K | $0 | $0 |
| Total Long-Term Assets | $21.74M | $13.07M | $10.93M | $11.87M | $5.38M | $5.44M | $538K | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $432.97M | $348.89M | $341.37M | $449.27M | $408.15M | $298.27M | $107.01M | $51.1M | $3.82M |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $12.53M | $14.22M | $11.99M | $8.83M | $7.35M | $7.14M | $1.41M | $1.8M | $537K |
| Short-Term Debt | $1M | $0 | $0 | $0 | $433K | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $116.31M | $20.75M | $19.07M | $14.32M | $16.41M | $176K | $225K | $116K | $0 |
| Total Current Liabilities | $129.84M | $81.01M | $46.67M | $37.81M | $33.33M | $22.6M | $5.24M | $2.67M | $692K |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $5.27M | $107.2M | $201.8M | $197.77M | $72.35M | $0 | $0 | $0 | $966K |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $108.39M | $570K | $849K | $0 | $25K | $82K | $184K | $72.41M | $7.15M |
| Total Long-Term Liabilities | $113.66M | $110.33M | $206.03M | $201.89M | $77.15M | $5.05M | $313K | $72.41M | $8.12M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $243.49M | $191.35M | $252.7M | $239.69M | $110.47M | $27.65M | $5.55M | $75.08M | $8.81M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $166.49M | $72.25M | $7.15M |
| Common Stock | $12K | $12K | $9K | $6K | $5K | $4K | $0 | $0 | $0 |
| Retained Earnings | -$1.14B | -$1.12B | -$981.9M | -$719.76M | -$408.31M | -$201.95M | -$66.27M | -$24.28M | -$5.02M |
| Comprehensive Income & Other | -$44K | -$7K | $4K | -$1.09M | -$255K | -$2K | -$1000 | $0 | $0 |
| Other Stockholders' Equity | $1.33B | $1.28B | $1.07B | $929.34M | $705.98M | $472.57M | $167.73M | $289K | $28K |
| Total Equity | $189.48M | $157.54M | $88.67M | $209.58M | $297.68M | $270.62M | $101.46M | -$23.99M | -$4.99M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $432.97M | $348.89M | $341.37M | $449.27M | $408.15M | $298.27M | $107.01M | $51.1M | $3.82M |
| Supplementary Data | |||||||||
| Total Debt | $6.27M | $110.58M | $205.92M | $202.54M | $77.56M | $4.96M | $307K | $0 | $966K |
| Net Debt | -$36.64M | $39.25M | $117.52M | $148.9M | -$20.43M | -$60.12M | -$63.03M | -$39.39M | -$2.45M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$16.14M | -$140.04M | -$262.14M | -$311.46M | -$206.36M | -$135.68M | -$42M | -$19.25M | -$4.98M |
| Depreciation & Amortization | $4.67M | $2.6M | $750K | $934K | $454K | $122K | $195K | $19.73M | $4.11M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $3.45M | $114K | $0 | $0 | $0 |
| Stock-Based Compensation | $40.36M | $41.73M | $38.81M | $32.68M | $23.89M | $7.94M | $824K | $151K | $27K |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | -$73.16M | -$47.26M | -$17.35M | -$8.46M | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$7.33M | -$400K | -$5.62M | -$7.51M | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$1.69M | $2.23M | $3.15M | $1.56M | $245K | $5.67M | -$458K | $1.26M | $537K |
| Other Working Capital | $47.36M | $30.35M | -$3.68M | $4.23M | $3.38M | $8.46M | -$1.05M | $844K | -$258K |
| Total Working Capital Change | -$34.83M | -$15.08M | -$23.5M | -$10.18M | $3.62M | $14.13M | -$1.5M | $2.11M | $279K |
| Other Non-Cash Items | $314K | -$1.37M | -$979K | $30.3M | $309K | $333K | -$354K | -$16.82M | -$3.21M |
| Net Cash from Operating | -$5.63M | -$112.16M | -$247.06M | -$257.71M | -$174.63M | -$113.03M | -$42.84M | -$14.09M | -$3.77M |
| Investing Activities | |||||||||
| Capital Expenditures | -$686K | -$143K | -$428K | -$23.28M | -$995K | -$321K | -$295K | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $22.95M | $74.96M | $181.5M | $0 | $0 | $0 |
| Purchases of Investments | -$246.99M | -$254.82M | -$225.84M | -$415.39M | -$292.51M | -$279.1M | -$60.83M | -$11.53M | $0 |
| Sales of Investments | $227.42M | $288.78M | $406.5M | $351.47M | $217.55M | $97.6M | $34.8M | $0 | $0 |
| Other Investing Activities | -$10M | -$5M | $0 | -$22.95M | -$74.96M | -$181.5M | $0 | -$11.53M | $0 |
| Net Cash from Investing | -$30.25M | $28.82M | $180.23M | -$87.2M | -$75.95M | -$181.82M | -$26.32M | -$11.53M | $0 |
| Financing Activities | |||||||||
| Debt Repaid | - | $100M | - | -$125M | -$73.99M | - | - | - | -$50K |
| Common Stock Issuance | $6.97M | $161.68M | $98.9M | $176.05M | $207.49M | $297M | $0 | $61.59M | $7.07M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $4.52M | $2.42M | $751K | $470K | $1.14M | -$1.14M | $386K | $7.07M |
| Net Cash from Financing | $6.97M | $66.2M | $101.32M | $301.8M | $281.95M | $298.14M | $93.1M | $61.59M | $7.12M |
| Forex Effect | $168K | -$235K | -$50K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$28.74M | -$17.37M | $34.45M | -$43.12M | $31.37M | $3.29M | $23.94M | $35.98M | $3.34M |
| Supplementary Data | |||||||||
| Operating Cash Flow | -$5.63M | -$112.16M | -$247.06M | -$257.71M | -$174.63M | -$113.03M | -$42.84M | -$14.09M | -$3.77M |
| Capital Expenditure | -$686K | -$143K | -$428K | -$23.28M | -$995K | -$321K | -$295K | $0 | $0 |
| Free Cash Flow | -$6.31M | -$112.3M | -$247.49M | -$281M | -$175.62M | -$113.35M | -$43.13M | -$14.09M | -$3.77M |
| Cash at Beginning | $71.95M | $89.32M | $54.88M | $97.99M | $66.62M | $63.34M | $39.39M | $3.42M | $74K |
| Cash at End | $43.22M | $71.95M | $89.32M | $54.88M | $97.99M | $66.62M | $63.34M | $39.39M | $3.42M |