Arcutis Biotherapeutics, Inc. (ARQT) 10-Year Financial Performance & Capital Metrics

ARQT •

HealthcareBiotechnologyCommercial Specialty Pharma

AboutArcutis Biotherapeutics, Inc., a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis. The company is also developing ARQ-154, a topical foam formulation of roflumilast for the treatment of seborrheic dermatitis and scalp psoriasis; ARQ-252, a selective topical janus kinase type 1 inhibitor for hand eczema and vitiligo; and ARQ-255, a topical formulation of ARQ-252 designed to reach deeper into the skin in order to treat alopecia areata. The company was formerly known as Arcutis, Inc. and changed its name to Arcutis Biotherapeutics, Inc. in October 2019. Arcutis Biotherapeutics, Inc. was incorporated in 2016 and is headquartered in Westlake Village, California.Show more

Revenue $376M +91.3%
EBITDA -$7M +94.5%
Net Income -$16M +88.5%
EPS (Diluted) -0.13 +88.8%
Gross Margin 90.24%
EBITDA Margin -1.82% +97.2%
Operating Margin -3.25% +95.0%
Net Margin -4.29% +94.0%
ROE -9.3% +91.8%
ROIC -5.25% +89.0%
Debt/Equity 0.03 -95.3%
Interest Coverage -1.01 +78.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 86 (top 14%)

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Expensive at 18.1x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y367.27%

TTM91.34%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM88.47%

EPS CAGR

10Y-

5Y-

3Y-

TTM87.56%

ROCE

10Y Avg-66.24%

5Y Avg-51.69%

3Y Avg-39.4%

Latest-4.28%

Peer Comparison

Commercial Specialty Pharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALKSAlkermes plc	4.98B	30.10	21.05	-5.25%	16.37%	13.28%	0.01%	0.04
ADMAADMA Biologics, Inc.	3.71B	15.57	19.22	65.15%	42.87%	48.57%	2.97%	0.24
UTHRUnited Therapeutics Corporation	21.99B	503.90	18.09	10.61%	41.94%	18.81%	4.73%
PCSAProcessa Pharmaceuticals, Inc.	114.71M	2.17	-0.56			-221.71%		0.04
UNCYUnicycive Therapeutics, Inc.	144.49M	6.93	-1.24	-100%		-89.15%		0.10
PTHSPelthos Therapeutics Inc.	85.29M	26.36	-1.95		-318.41%	-40.48%
MISTMilestone Pharmaceuticals Inc.	145.64M	1.71	-2.55	-100%		-282.97%		4.17
AMRNAmarin Corporation plc	5.74B	13.80	-3.45	-25.51%	-38.01%	-18.78%		0.02

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	0	0	0	0	0	3.69M	59.61M	196.54M	376.07M
Revenue Growth %	-	-	-	-	-	-	1517.09%	229.74%	91.34%
Cost of Goods Sold+	0	0	195K	455K	763K	754K	4.99M	19.13M	36.7M
COGS % of Revenue	-	-	-	-	-	20.46%	8.37%	9.73%	9.76%
Gross Profit+	0	0	-195K	-455K	-763K	2.93M	54.62M	177.41M	339.38M
Gross Margin %	-	-	-	-	-	79.54%	91.63%	90.27%	90.24%
Gross Profit Growth %	-	-	-	-133.33%	-67.69%	484.27%	1762.86%	224.82%	91.29%
Operating Expenses+	4.11M	19.73M	42.94M	136.19M	205.77M	304.56M	295.72M	305.81M	351.6M
OpEx % of Revenue	-	-	-	-	-	8262.59%	496.12%	155.6%	93.49%
Selling, General & Admin	695K	1.79M	6.42M	20.88M	60.97M	122.12M	185.15M	229.39M	274.55M
SG&A % of Revenue	-	-	-	-	-	3313.18%	310.61%	116.71%	73.01%
Research & Development	3.41M	17.94M	36.52M	115.31M	145.56M	182.44M	110.58M	76.42M	77.05M
R&D % of Revenue	-	-	-	-	-	4949.4%	185.51%	38.88%	20.49%
Other Operating Expenses	0	0	0	0	173K	0	0	0	0
Operating Income+	-4.11M	-19.73M	-43.13M	-136.65M	-206.53M	-301.63M	-241.1M	-128.4M	-12.23M
Operating Margin %	-	-	-	-	-	-8183.04%	-404.49%	-65.33%	-3.25%
Operating Income Growth %	-	-380.64%	-118.56%	-216.81%	-51.14%	-46.05%	20.07%	46.75%	90.48%
EBITDA+	0	0	-42.94M	-136.19M	-205.77M	-300.37M	-239.22M	-125.8M	-6.86M
EBITDA Margin %	-	-	-	-	-	-8149.05%	-401.34%	-64.01%	-1.82%
EBITDA Growth %	-	-	-	-217.19%	-51.09%	-45.98%	20.36%	47.41%	94.55%
D&A (Non-Cash Add-back)	4.11M	19.73M	195K	455K	763K	1.25M	1.88M	2.6M	5.37M
EBIT	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-295.81M	-229.31M	-112.22M	-12.23M
Net Interest Income+	0	0	1.14M	967K	173K	-15.65M	-29.71M	-27.17M	-12.08M
Interest Income	0	0	1.14M	967K	173K	0	0	0	0
Interest Expense	0	0	0	0	0	15.65M	29.71M	27.17M	12.08M
Other Income/Expense	-872K	480K	1.14M	967K	173K	-9.83M	-17.93M	-10.99M	-2.74M
Pretax Income+	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-259.03M	-139.39M	-14.97M
Pretax Margin %	-	-	-	-	-	-8449.76%	-434.57%	-70.92%	-3.98%
Income Tax+	0	0	0	0	0	0	3.11M	647K	1.17M
Effective Tax Rate %	100%	100%	100%	100%	100%	100%	101.2%	100.46%	107.82%
Net Income+	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-262.14M	-140.04M	-16.14M
Net Margin %	-	-	-	-	-	-8449.76%	-439.79%	-71.25%	-4.29%
Net Income Growth %	-	-286.8%	-118.1%	-223.07%	-52.09%	-50.93%	15.83%	46.58%	88.47%
Net Income (Continuing)	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-262.14M	-140.04M	-16.14M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-4.71	-0.53	-1.10	-3.80	-4.17	-5.66	-3.78	-1.16	-0.13
EPS Growth %	-	88.75%	-107.55%	-245.45%	-9.74%	-35.73%	33.22%	69.31%	88.79%
EPS (Basic)	-4.71	-0.53	-1.10	-3.80	-4.17	-5.66	-3.78	-1.16	-0.13
Diluted Shares Outstanding	1.06M	36.24M	38.09M	35.67M	49.41M	55.03M	69.31M	120.96M	127.23M
Basic Shares Outstanding	1.06M	36.24M	38.09M	35.67M	49.41M	55.03M	69.31M	120.96M	127.23M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	3.82M	51.1M	106.47M	292.83M	402.77M	437.41M	330.43M	335.82M	411.23M
Cash & Short-Term Investments	3.42M	50.94M	101.27M	284.44M	388.6M	409.59M	271.86M	227.96M	220.98M
Cash Only	3.42M	39.39M	63.34M	65.08M	97.99M	53.64M	88.4M	71.33M	42.91M
Short-Term Investments	0	11.55M	37.93M	219.36M	290.61M	355.95M	183.46M	156.62M	178.07M
Accounts Receivable	0	0	0	510K	362K	8.46M	25.81M	73.07M	146.23M
Days Sales Outstanding	-	-	-	-	-	837.54	158.03	135.69	141.92
Inventory	0	0	0	0	0	7.51M	13.13M	14.53M	22.63M
Days Inventory Outstanding	-	-	-	-	-	3.64K	961.28	277.18	225.14
Other Current Assets	0	0	1.89M	1.54M	7.66M	4.46M	9.53M	8.82M	21.39M
Total Non-Current Assets+	0	0	538K	5.44M	5.38M	11.87M	10.93M	13.07M	21.74M
Property, Plant & Equipment	0	0	491K	5.37M	5.3M	4.6M	3.9M	2.99M	5.51M
Fixed Asset Turnover	-	-	-	-	-	0.80x	15.28x	65.65x	68.25x
Goodwill	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	7.19M	6.44M	9.48M	14.81M
Long-Term Investments	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	47K	78K	78K	78K	596K	596K	1.42M
Total Assets+	3.82M	51.1M	107.01M	298.27M	408.15M	449.27M	341.37M	348.89M	432.97M
Asset Turnover	-	-	-	-	-	0.01x	0.17x	0.56x	0.87x
Asset Growth %	-	1237.99%	109.42%	178.72%	36.84%	10.08%	-24.02%	2.2%	24.1%
Total Current Liabilities+	692K	2.67M	5.24M	22.6M	33.33M	37.81M	46.67M	81.01M	129.84M
Accounts Payable	537K	1.8M	1.41M	7.14M	7.35M	8.83M	11.99M	14.22M	12.53M
Days Payables Outstanding	-	-	2.63K	5.73K	3.52K	4.27K	877.7	271.35	124.61
Short-Term Debt	0	0	0	0	433K	657K	0	0	1M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	116K	225K	176K	16.41M	13.67M	19.07M	20.75M	116.31M
Current Ratio	5.52x	19.12x	20.33x	12.96x	12.09x	11.57x	7.08x	4.15x	3.17x
Quick Ratio	5.52x	19.12x	20.33x	12.96x	12.09x	11.37x	6.80x	3.97x	2.99x
Cash Conversion Cycle	-	-	-	-	-	201.94	241.61	141.53	242.45
Total Non-Current Liabilities+	8.12M	72.41M	313K	5.05M	77.15M	201.89M	206.03M	110.33M	113.66M
Long-Term Debt	966K	0	0	0	72.35M	197.77M	201.8M	107.2M	5.27M
Capital Lease Obligations	0	0	129K	4.96M	4.77M	4.12M	3.38M	2.56M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	7.15M	72.41M	184K	82K	25K	0	849K	570K	108.39M
Total Liabilities	8.81M	75.08M	5.55M	27.65M	110.47M	239.69M	252.7M	191.35M	243.49M
Total Debt+	966K	0	307K	4.96M	77.56M	202.54M	205.92M	110.58M	6.27M
Net Debt	-2.45M	-39.39M	-63.03M	-60.12M	-20.43M	148.9M	117.52M	39.25M	-36.64M
Debt / Equity	-	-	0.00x	0.02x	0.26x	0.97x	2.32x	0.70x	0.03x
Debt / EBITDA	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-19.27x	-8.11x	-4.73x	-1.01x
Total Equity+	-4.99M	-23.99M	101.46M	270.62M	297.68M	209.58M	88.67M	157.54M	189.48M
Equity Growth %	-	-380.41%	522.99%	166.72%	10%	-29.59%	-57.69%	77.68%	20.27%
Book Value per Share	-4.73	-0.66	2.66	7.59	6.03	3.81	1.28	1.30	1.49
Total Shareholders' Equity	-4.99M	-23.99M	101.46M	270.62M	297.68M	209.58M	88.67M	157.54M	189.48M
Common Stock	0	0	0	4K	5K	6K	9K	12K	12K
Retained Earnings	-5.02M	-24.28M	-66.27M	-201.95M	-408.31M	-719.76M	-981.9M	-1.12B	-1.14B
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	-1K	-2K	-255K	-1.09M	4K	-7K	-44K
Minority Interest	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-3.77M	-14.09M	-42.84M	-113.03M	-174.63M	-257.71M	-247.06M	-112.16M	-5.63M
Operating CF Margin %	-	-	-	-	-	-6991.73%	-414.48%	-57.07%	-1.5%
Operating CF Growth %	-	-273.11%	-204.12%	-163.87%	-54.49%	-47.58%	4.14%	54.6%	94.98%
Net Income	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-262.14M	-140.04M	-16.14M
Depreciation & Amortization	0	0	68K	122K	454K	934K	1.52M	2.6M	4.67M
Stock-Based Compensation	27K	151K	824K	7.94M	23.89M	32.68M	38.81M	41.73M	40.36M
Deferred Taxes	0	0	0	114K	3.45M	0	0	0	0
Other Non-Cash Items	897K	2.91M	-227K	333K	309K	30.3M	-1.75M	-1.37M	-34.52M
Working Capital Changes	279K	2.11M	-1.5M	14.13M	3.62M	-10.18M	-23.5M	-15.08M	0
Change in Receivables	0	0	0	0	0	-8.46M	-17.35M	-47.26M	-73.16M
Change in Inventory	0	0	0	0	0	-7.51M	-5.62M	-400K	-7.33M
Change in Payables	537K	1.26M	-458K	5.67M	245K	1.56M	3.15M	2.23M	-1.69M
Cash from Investing+	0	-11.53M	-26.32M	-181.82M	-75.95M	-87.2M	180.23M	28.82M	-30.25M
Capital Expenditures	0	0	-295K	-321K	-995K	-23.28M	-428K	-143K	-686K
CapEx % of Revenue	-	-	-	-	-	631.66%	0.72%	0.07%	0.18%
Acquisitions	0	0	0	181.5M	74.96M	22.95M	0	0	0
Investments	-	-	-	-	-	-	-	-	-
Other Investing	0	-11.53M	0	-181.5M	-74.96M	-22.95M	0	-5M	-10M
Cash from Financing+	7.12M	61.59M	93.1M	298.14M	281.95M	301.8M	101.32M	66.2M	6.97M
Debt Issued (Net)	50K	0	0	0	73.99M	125M	0	-100M	0
Equity Issued (Net)	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0
Other Financing	7.07M	386K	-1.14M	1.14M	470K	751K	2.42M	4.52M	6.97M
Net Change in Cash	3.34M	35.98M	23.94M	3.29M	31.37M	-43.12M	34.45M	-17.37M	-28.74M
Free Cash Flow+	-3.77M	-14.09M	-43.13M	-113.35M	-175.62M	-281M	-247.49M	-112.3M	-6.31M
FCF Margin %	-	-	-	-	-	-7623.39%	-415.2%	-57.14%	-1.68%
FCF Growth %	-	-273.11%	-206.22%	-162.81%	-54.93%	-60%	11.93%	54.62%	94.38%
FCF per Share	-3.57	-0.39	-1.13	-3.18	-3.55	-5.11	-3.57	-0.93	-0.05
FCF Conversion (FCF/Net Income)	0.76x	0.73x	1.02x	0.83x	0.85x	0.83x	0.94x	0.80x	0.35x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-108.41%	-72.93%	-72.62%	-122.8%	-175.79%	-113.76%	-9.3%
Return on Invested Capital (ROIC)	-	-	-	-82.34%	-63.52%	-71.17%	-64.05%	-47.79%	-5.25%
Gross Margin	-	-	-	-	-	79.54%	91.63%	90.27%	90.24%
Net Margin	-	-	-	-	-	-8449.76%	-439.79%	-71.25%	-4.29%
Debt / Equity	-	-	0.00x	0.02x	0.26x	0.97x	2.32x	0.70x	0.03x
Interest Coverage	-	-	-	-	-	-19.27x	-8.11x	-4.73x	-1.01x
FCF Conversion	0.76x	0.73x	1.02x	0.83x	0.85x	0.83x	0.94x	0.80x	0.35x
Revenue Growth	-	-	-	-	-	-	1517.09%	229.74%	91.34%

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Arcutis Biotherapeutics, Inc. (ARQT) 10-Year Financial Performance & Capital Metrics

ARQT •

HealthcareBiotechnologyCommercial Specialty Pharma

Revenue $376M +91.3%
EBITDA -$7M +94.5%
Net Income -$16M +88.5%
EPS (Diluted) -0.13 +88.8%
Gross Margin 90.24%
EBITDA Margin -1.82% +97.2%
Operating Margin -3.25% +95.0%
Net Margin -4.29% +94.0%
ROE -9.3% +91.8%
ROIC -5.25% +89.0%
Debt/Equity 0.03 -95.3%
Interest Coverage -1.01 +78.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 86 (top 14%)

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Expensive at 18.1x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y367.27%

TTM91.34%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM88.47%

EPS CAGR

10Y-

5Y-

3Y-

TTM87.56%

ROCE

10Y Avg-66.24%

5Y Avg-51.69%

3Y Avg-39.4%

Latest-4.28%

Peer Comparison

Commercial Specialty Pharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALKSAlkermes plc	4.98B	30.10	21.05	-5.25%	16.37%	13.28%	0.01%	0.04
ADMAADMA Biologics, Inc.	3.71B	15.57	19.22	65.15%	42.87%	48.57%	2.97%	0.24
UTHRUnited Therapeutics Corporation	21.99B	503.90	18.09	10.61%	41.94%	18.81%	4.73%
PCSAProcessa Pharmaceuticals, Inc.	114.71M	2.17	-0.56			-221.71%		0.04
UNCYUnicycive Therapeutics, Inc.	144.49M	6.93	-1.24	-100%		-89.15%		0.10
PTHSPelthos Therapeutics Inc.	85.29M	26.36	-1.95		-318.41%	-40.48%
MISTMilestone Pharmaceuticals Inc.	145.64M	1.71	-2.55	-100%		-282.97%		4.17
AMRNAmarin Corporation plc	5.74B	13.80	-3.45	-25.51%	-38.01%	-18.78%		0.02

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	0	0	0	0	0	3.69M	59.61M	196.54M	376.07M
Revenue Growth %	-	-	-	-	-	-	1517.09%	229.74%	91.34%
Cost of Goods Sold+	0	0	195K	455K	763K	754K	4.99M	19.13M	36.7M
COGS % of Revenue	-	-	-	-	-	20.46%	8.37%	9.73%	9.76%
Gross Profit+	0	0	-195K	-455K	-763K	2.93M	54.62M	177.41M	339.38M
Gross Margin %	-	-	-	-	-	79.54%	91.63%	90.27%	90.24%
Gross Profit Growth %	-	-	-	-133.33%	-67.69%	484.27%	1762.86%	224.82%	91.29%
Operating Expenses+	4.11M	19.73M	42.94M	136.19M	205.77M	304.56M	295.72M	305.81M	351.6M
OpEx % of Revenue	-	-	-	-	-	8262.59%	496.12%	155.6%	93.49%
Selling, General & Admin	695K	1.79M	6.42M	20.88M	60.97M	122.12M	185.15M	229.39M	274.55M
SG&A % of Revenue	-	-	-	-	-	3313.18%	310.61%	116.71%	73.01%
Research & Development	3.41M	17.94M	36.52M	115.31M	145.56M	182.44M	110.58M	76.42M	77.05M
R&D % of Revenue	-	-	-	-	-	4949.4%	185.51%	38.88%	20.49%
Other Operating Expenses	0	0	0	0	173K	0	0	0	0
Operating Income+	-4.11M	-19.73M	-43.13M	-136.65M	-206.53M	-301.63M	-241.1M	-128.4M	-12.23M
Operating Margin %	-	-	-	-	-	-8183.04%	-404.49%	-65.33%	-3.25%
Operating Income Growth %	-	-380.64%	-118.56%	-216.81%	-51.14%	-46.05%	20.07%	46.75%	90.48%
EBITDA+	0	0	-42.94M	-136.19M	-205.77M	-300.37M	-239.22M	-125.8M	-6.86M
EBITDA Margin %	-	-	-	-	-	-8149.05%	-401.34%	-64.01%	-1.82%
EBITDA Growth %	-	-	-	-217.19%	-51.09%	-45.98%	20.36%	47.41%	94.55%
D&A (Non-Cash Add-back)	4.11M	19.73M	195K	455K	763K	1.25M	1.88M	2.6M	5.37M
EBIT	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-295.81M	-229.31M	-112.22M	-12.23M
Net Interest Income+	0	0	1.14M	967K	173K	-15.65M	-29.71M	-27.17M	-12.08M
Interest Income	0	0	1.14M	967K	173K	0	0	0	0
Interest Expense	0	0	0	0	0	15.65M	29.71M	27.17M	12.08M
Other Income/Expense	-872K	480K	1.14M	967K	173K	-9.83M	-17.93M	-10.99M	-2.74M
Pretax Income+	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-259.03M	-139.39M	-14.97M
Pretax Margin %	-	-	-	-	-	-8449.76%	-434.57%	-70.92%	-3.98%
Income Tax+	0	0	0	0	0	0	3.11M	647K	1.17M
Effective Tax Rate %	100%	100%	100%	100%	100%	100%	101.2%	100.46%	107.82%
Net Income+	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-262.14M	-140.04M	-16.14M
Net Margin %	-	-	-	-	-	-8449.76%	-439.79%	-71.25%	-4.29%
Net Income Growth %	-	-286.8%	-118.1%	-223.07%	-52.09%	-50.93%	15.83%	46.58%	88.47%
Net Income (Continuing)	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-262.14M	-140.04M	-16.14M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-4.71	-0.53	-1.10	-3.80	-4.17	-5.66	-3.78	-1.16	-0.13
EPS Growth %	-	88.75%	-107.55%	-245.45%	-9.74%	-35.73%	33.22%	69.31%	88.79%
EPS (Basic)	-4.71	-0.53	-1.10	-3.80	-4.17	-5.66	-3.78	-1.16	-0.13
Diluted Shares Outstanding	1.06M	36.24M	38.09M	35.67M	49.41M	55.03M	69.31M	120.96M	127.23M
Basic Shares Outstanding	1.06M	36.24M	38.09M	35.67M	49.41M	55.03M	69.31M	120.96M	127.23M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	3.82M	51.1M	106.47M	292.83M	402.77M	437.41M	330.43M	335.82M	411.23M
Cash & Short-Term Investments	3.42M	50.94M	101.27M	284.44M	388.6M	409.59M	271.86M	227.96M	220.98M
Cash Only	3.42M	39.39M	63.34M	65.08M	97.99M	53.64M	88.4M	71.33M	42.91M
Short-Term Investments	0	11.55M	37.93M	219.36M	290.61M	355.95M	183.46M	156.62M	178.07M
Accounts Receivable	0	0	0	510K	362K	8.46M	25.81M	73.07M	146.23M
Days Sales Outstanding	-	-	-	-	-	837.54	158.03	135.69	141.92
Inventory	0	0	0	0	0	7.51M	13.13M	14.53M	22.63M
Days Inventory Outstanding	-	-	-	-	-	3.64K	961.28	277.18	225.14
Other Current Assets	0	0	1.89M	1.54M	7.66M	4.46M	9.53M	8.82M	21.39M
Total Non-Current Assets+	0	0	538K	5.44M	5.38M	11.87M	10.93M	13.07M	21.74M
Property, Plant & Equipment	0	0	491K	5.37M	5.3M	4.6M	3.9M	2.99M	5.51M
Fixed Asset Turnover	-	-	-	-	-	0.80x	15.28x	65.65x	68.25x
Goodwill	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	7.19M	6.44M	9.48M	14.81M
Long-Term Investments	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	47K	78K	78K	78K	596K	596K	1.42M
Total Assets+	3.82M	51.1M	107.01M	298.27M	408.15M	449.27M	341.37M	348.89M	432.97M
Asset Turnover	-	-	-	-	-	0.01x	0.17x	0.56x	0.87x
Asset Growth %	-	1237.99%	109.42%	178.72%	36.84%	10.08%	-24.02%	2.2%	24.1%
Total Current Liabilities+	692K	2.67M	5.24M	22.6M	33.33M	37.81M	46.67M	81.01M	129.84M
Accounts Payable	537K	1.8M	1.41M	7.14M	7.35M	8.83M	11.99M	14.22M	12.53M
Days Payables Outstanding	-	-	2.63K	5.73K	3.52K	4.27K	877.7	271.35	124.61
Short-Term Debt	0	0	0	0	433K	657K	0	0	1M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	116K	225K	176K	16.41M	13.67M	19.07M	20.75M	116.31M
Current Ratio	5.52x	19.12x	20.33x	12.96x	12.09x	11.57x	7.08x	4.15x	3.17x
Quick Ratio	5.52x	19.12x	20.33x	12.96x	12.09x	11.37x	6.80x	3.97x	2.99x
Cash Conversion Cycle	-	-	-	-	-	201.94	241.61	141.53	242.45
Total Non-Current Liabilities+	8.12M	72.41M	313K	5.05M	77.15M	201.89M	206.03M	110.33M	113.66M
Long-Term Debt	966K	0	0	0	72.35M	197.77M	201.8M	107.2M	5.27M
Capital Lease Obligations	0	0	129K	4.96M	4.77M	4.12M	3.38M	2.56M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	7.15M	72.41M	184K	82K	25K	0	849K	570K	108.39M
Total Liabilities	8.81M	75.08M	5.55M	27.65M	110.47M	239.69M	252.7M	191.35M	243.49M
Total Debt+	966K	0	307K	4.96M	77.56M	202.54M	205.92M	110.58M	6.27M
Net Debt	-2.45M	-39.39M	-63.03M	-60.12M	-20.43M	148.9M	117.52M	39.25M	-36.64M
Debt / Equity	-	-	0.00x	0.02x	0.26x	0.97x	2.32x	0.70x	0.03x
Debt / EBITDA	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-19.27x	-8.11x	-4.73x	-1.01x
Total Equity+	-4.99M	-23.99M	101.46M	270.62M	297.68M	209.58M	88.67M	157.54M	189.48M
Equity Growth %	-	-380.41%	522.99%	166.72%	10%	-29.59%	-57.69%	77.68%	20.27%
Book Value per Share	-4.73	-0.66	2.66	7.59	6.03	3.81	1.28	1.30	1.49
Total Shareholders' Equity	-4.99M	-23.99M	101.46M	270.62M	297.68M	209.58M	88.67M	157.54M	189.48M
Common Stock	0	0	0	4K	5K	6K	9K	12K	12K
Retained Earnings	-5.02M	-24.28M	-66.27M	-201.95M	-408.31M	-719.76M	-981.9M	-1.12B	-1.14B
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	-1K	-2K	-255K	-1.09M	4K	-7K	-44K
Minority Interest	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-3.77M	-14.09M	-42.84M	-113.03M	-174.63M	-257.71M	-247.06M	-112.16M	-5.63M
Operating CF Margin %	-	-	-	-	-	-6991.73%	-414.48%	-57.07%	-1.5%
Operating CF Growth %	-	-273.11%	-204.12%	-163.87%	-54.49%	-47.58%	4.14%	54.6%	94.98%
Net Income	-4.98M	-19.25M	-42M	-135.68M	-206.36M	-311.46M	-262.14M	-140.04M	-16.14M
Depreciation & Amortization	0	0	68K	122K	454K	934K	1.52M	2.6M	4.67M
Stock-Based Compensation	27K	151K	824K	7.94M	23.89M	32.68M	38.81M	41.73M	40.36M
Deferred Taxes	0	0	0	114K	3.45M	0	0	0	0
Other Non-Cash Items	897K	2.91M	-227K	333K	309K	30.3M	-1.75M	-1.37M	-34.52M
Working Capital Changes	279K	2.11M	-1.5M	14.13M	3.62M	-10.18M	-23.5M	-15.08M	0
Change in Receivables	0	0	0	0	0	-8.46M	-17.35M	-47.26M	-73.16M
Change in Inventory	0	0	0	0	0	-7.51M	-5.62M	-400K	-7.33M
Change in Payables	537K	1.26M	-458K	5.67M	245K	1.56M	3.15M	2.23M	-1.69M
Cash from Investing+	0	-11.53M	-26.32M	-181.82M	-75.95M	-87.2M	180.23M	28.82M	-30.25M
Capital Expenditures	0	0	-295K	-321K	-995K	-23.28M	-428K	-143K	-686K
CapEx % of Revenue	-	-	-	-	-	631.66%	0.72%	0.07%	0.18%
Acquisitions	0	0	0	181.5M	74.96M	22.95M	0	0	0
Investments	-	-	-	-	-	-	-	-	-
Other Investing	0	-11.53M	0	-181.5M	-74.96M	-22.95M	0	-5M	-10M
Cash from Financing+	7.12M	61.59M	93.1M	298.14M	281.95M	301.8M	101.32M	66.2M	6.97M
Debt Issued (Net)	50K	0	0	0	73.99M	125M	0	-100M	0
Equity Issued (Net)	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0
Other Financing	7.07M	386K	-1.14M	1.14M	470K	751K	2.42M	4.52M	6.97M
Net Change in Cash	3.34M	35.98M	23.94M	3.29M	31.37M	-43.12M	34.45M	-17.37M	-28.74M
Free Cash Flow+	-3.77M	-14.09M	-43.13M	-113.35M	-175.62M	-281M	-247.49M	-112.3M	-6.31M
FCF Margin %	-	-	-	-	-	-7623.39%	-415.2%	-57.14%	-1.68%
FCF Growth %	-	-273.11%	-206.22%	-162.81%	-54.93%	-60%	11.93%	54.62%	94.38%
FCF per Share	-3.57	-0.39	-1.13	-3.18	-3.55	-5.11	-3.57	-0.93	-0.05
FCF Conversion (FCF/Net Income)	0.76x	0.73x	1.02x	0.83x	0.85x	0.83x	0.94x	0.80x	0.35x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-108.41%	-72.93%	-72.62%	-122.8%	-175.79%	-113.76%	-9.3%
Return on Invested Capital (ROIC)	-	-	-	-82.34%	-63.52%	-71.17%	-64.05%	-47.79%	-5.25%
Gross Margin	-	-	-	-	-	79.54%	91.63%	90.27%	90.24%
Net Margin	-	-	-	-	-	-8449.76%	-439.79%	-71.25%	-4.29%
Debt / Equity	-	-	0.00x	0.02x	0.26x	0.97x	2.32x	0.70x	0.03x
Interest Coverage	-	-	-	-	-	-19.27x	-8.11x	-4.73x	-1.01x
FCF Conversion	0.76x	0.73x	1.02x	0.83x	0.85x	0.83x	0.94x	0.80x	0.35x
Revenue Growth	-	-	-	-	-	-	1517.09%	229.74%	91.34%

Arcutis Biotherapeutics, Inc. (ARQT) 10-Year Financial Performance & Capital Metrics

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Arcutis Biotherapeutics, Inc. (ARQT) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

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EPS CAGR

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Peer Comparison

Compare ARQT vs Peers

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