Arcutis Biotherapeutics, Inc. (ARQT) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Arcutis Biotherapeutics reported revenue of $376.1M, up 91.3% from $196.5M the year before. Net income was -$16.1M (a -4.3% net margin), or -$0.13 per diluted share. Gross margin was 90.2% and operating margin was -3.3%. Operating activities generated -$5.6M of cash, leaving -$6.3M of free cash flow. At fiscal year end, Arcutis Biotherapeutics held $433.0M in total assets against $243.5M in total liabilities, including $42.9M of cash and equivalents.
Open the full interactive Arcutis Biotherapeutics financials → Quarterly statements, key ratios, valuation history and price charts.
Arcutis Biotherapeutics Key Stats
| Share Price | $26.09 |
|---|---|
| Market Cap | $3.55B |
| Revenue YoY Growth | +91.3% |
| 52-Week Range | $19.50 – $31.20 |
| Shares Outstanding | 130.5 million (basic, 2026 Q2) |
Arcutis Biotherapeutics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $3.7M | $59.6M | $196.5M | $376.1M |
| Cost of Goods Sold | — | — | — | $5.0M | $19.1M | $36.7M |
| Gross Profit | — | — | — | $54.6M | $177.4M | $339.4M |
| Operating Income | -$136.6M | -$206.5M | -$301.6M | -$241.1M | -$128.4M | -$12.2M |
| Pre-Tax Income | -$135.7M | -$206.4M | -$311.5M | -$259.0M | -$139.4M | -$15.0M |
| Income Tax | $0 | $0 | $0 | $3.1M | $647,000 | $1.2M |
| Net Income | -$135.7M | -$206.4M | -$311.5M | -$262.1M | -$140.0M | -$16.1M |
| Diluted EPS | -$3.80 | -$4.18 | -$5.66 | -$3.78 | -$1.16 | -$0.13 |
Arcutis Biotherapeutics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $99.2M | $129.5M | $105.4M | $129.9M |
| Net Income | $7.4M | $17.4M | -$11.3M | $15.0M |
| Diluted EPS | $0.06 | $0.14 | -$0.09 | $0.11 |
Arcutis Biotherapeutics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $65.1M | $96.4M | $53.6M | $88.4M | $71.3M | $42.9M |
| Current Assets | $292.8M | $402.8M | $437.4M | $330.4M | $335.8M | $411.2M |
| Total Assets | $298.3M | $408.2M | $449.3M | $341.4M | $348.9M | $433.0M |
| Current Liabilities | $22.6M | $33.3M | $37.8M | $46.7M | $81.0M | $129.8M |
| Total Long-Term Debt | — | $72.3M | $197.8M | $201.8M | $107.2M | $109.0M |
| Total Liabilities | $27.6M | $110.5M | $239.7M | $252.7M | $191.3M | $243.5M |
| Shareholders' Equity | $270.6M | $297.7M | $209.6M | $88.7M | $157.5M | $189.5M |
Arcutis Biotherapeutics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$113.0M | -$174.6M | -$257.7M | -$247.1M | -$112.2M | -$5.6M |
| Cash From Investing | -$181.8M | -$76.0M | -$87.2M | $180.2M | $28.8M | -$30.3M |
| Cash From Financing | $298.1M | $281.9M | $301.8M | $101.3M | $66.2M | $7.0M |
| Free Cash Flow | -$113.4M | -$175.6M | -$258.0M | -$247.5M | -$112.3M | -$6.3M |
Figures from Arcutis Biotherapeutics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Arcutis Biotherapeutics financials page for every line item.
Arcutis Biotherapeutics Company Profile
| Ticker | ARQT |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Westlake Village, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001787306 |
Frequently Asked Questions
What was Arcutis Biotherapeutics' revenue in fiscal 2025?
Arcutis Biotherapeutics (ARQT) reported revenue of $376.1M for fiscal 2025.
What is Arcutis Biotherapeutics' annual revenue history?
Arcutis Biotherapeutics' annual revenue by fiscal year: 2020: $0; 2021: $0; 2022: $3.7M; 2023: $59.6M; 2024: $196.5M; 2025: $376.1M.
What was Arcutis Biotherapeutics' net income in fiscal 2025?
Arcutis Biotherapeutics reported net income of -$16.1M for fiscal 2025.
What was Arcutis Biotherapeutics' earnings per share (EPS) in fiscal 2025?
Arcutis Biotherapeutics' diluted EPS was -$0.13 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Arcutis Biotherapeutics generate in fiscal 2025?
Arcutis Biotherapeutics generated -$6.3M of free cash flow in fiscal 2025.
What was Arcutis Biotherapeutics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Arcutis Biotherapeutics reported revenue of $129.9M.
How much debt does Arcutis Biotherapeutics have?
Arcutis Biotherapeutics reported $109.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Arcutis Biotherapeutics are outstanding?
Arcutis Biotherapeutics reported a weighted average of 130.5 million basic shares outstanding in 2026 Q2.
What is Arcutis Biotherapeutics' market cap?
Based on its latest closing price, Arcutis Biotherapeutics (ARQT) has a market capitalization of about $3.55B.
When does Arcutis Biotherapeutics' fiscal year end?
Arcutis Biotherapeutics' fiscal year end, as registered with the SEC, is December 31.
Where is Arcutis Biotherapeutics headquartered?
Arcutis Biotherapeutics lists its business address in Westlake Village, California in its SEC filings.