8-K Announcements
6Feb 25, 2026·SEC
Dec 8, 2025·SEC
Oct 28, 2025·SEC
Arcutis Biotherapeutics, Inc. (ARQT) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Arcutis Biotherapeutics, Inc. (ARQT) stock price & volume — 10-year historical chart
Arcutis Biotherapeutics, Inc. (ARQT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Arcutis Biotherapeutics, Inc. (ARQT) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 25, 2026 | $0.13vs $0.03+333.3% | $130Mvs $113M+14.5% |
| Q4 2025 | Oct 28, 2025 | $0.06vs $0.10+160.0% | $99Mvs $111M-10.4% |
| Q3 2025 | Aug 6, 2025 | $0.13vs $0.18+27.8% | $82Mvs $81M+1.1% |
| Q2 2025 | May 6, 2025 | $0.20vs $0.21+4.8% | $66Mvs $73M-9.4% |
Arcutis Biotherapeutics, Inc. (ARQT) competitors in Commercial Specialty Pharma — business model, growth, and fundamentals comparison
Arcutis Biotherapeutics, Inc. (ARQT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Arcutis Biotherapeutics, Inc. (ARQT) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| 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% | 0▲ 0% | -195K▲ 0% | -455K▼ 133.3% | -763K▼ 67.7% | 2.93M▲ 484.3% | 54.62M▲ 1762.9% | 177.41M▲ 224.8% | 339.38M▲ 91.3% |
| 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▲ 0% | -19.73M▼ 380.6% | -43.13M▼ 118.6% | -136.65M▼ 216.8% | -206.53M▼ 51.1% | -301.63M▼ 46.0% | -241.1M▲ 20.1% | -128.4M▲ 46.7% | -12.23M▲ 90.5% |
| 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▲ 0% | -19.25M▼ 286.8% | -42M▼ 118.1% | -135.68M▼ 223.1% | -206.36M▼ 52.1% | -311.46M▼ 50.9% | -259.03M▲ 16.8% | -139.39M▲ 46.2% | -14.97M▲ 89.3% |
| 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 % | 0% | 0% | 0% | 0% | 0% | 0% | -1.2% | -0.46% | -7.82% |
| Net Income | -4.98M▲ 0% | -19.25M▼ 286.8% | -42M▼ 118.1% | -135.68M▼ 223.1% | -206.36M▼ 52.1% | -311.46M▼ 50.9% | -262.14M▲ 15.8% | -140.04M▲ 46.6% | -16.14M▲ 88.5% |
| 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% | -0.53▲ 88.7% | -1.10▼ 107.5% | -3.80▼ 245.5% | -4.17▼ 9.7% | -5.66▼ 35.7% | -3.78▲ 33.2% | -1.16▲ 69.3% | -0.13▲ 88.8% |
| 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 | - | - | - | - | - | - | - | - | - |
Arcutis Biotherapeutics, Inc. (ARQT) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| 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▲ 0% | 51.1M▲ 1238.0% | 107.01M▲ 109.4% | 298.27M▲ 178.7% | 408.15M▲ 36.8% | 449.27M▲ 10.1% | 341.37M▼ 24.0% | 348.89M▲ 2.2% | 432.97M▲ 24.1% |
| 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▲ 0% | -23.99M▼ 380.4% | 101.46M▲ 523.0% | 270.62M▲ 166.7% | 297.68M▲ 10.0% | 209.58M▼ 29.6% | 88.67M▼ 57.7% | 157.54M▲ 77.7% | 189.48M▲ 20.3% |
| 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 |
Arcutis Biotherapeutics, Inc. (ARQT) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| 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▲ 0% | 35.98M▲ 975.8% | 23.94M▼ 33.5% | 3.29M▼ 86.3% | 31.37M▲ 854.0% | -43.12M▼ 237.5% | 34.45M▲ 179.9% | -17.37M▼ 150.4% | -28.74M▼ 65.4% |
| Free Cash Flow | -3.77M▲ 0% | -14.09M▼ 273.1% | -43.13M▼ 206.2% | -113.35M▼ 162.8% | -175.62M▼ 54.9% | -281M▼ 60.0% | -247.49M▲ 11.9% | -112.3M▲ 54.6% | -6.31M▲ 94.4% |
| 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 |
Arcutis Biotherapeutics, Inc. (ARQT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet 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) SEC filings — annual & quarterly reports (10-K, 10-Q)
Feb 25, 2026·SEC
Dec 8, 2025·SEC
Oct 28, 2025·SEC
Arcutis Biotherapeutics, Inc. (ARQT) stock FAQ — growth, dividends, profitability & financials explained
Arcutis Biotherapeutics, Inc. (ARQT) reported $376.1M in revenue for fiscal year 2025.
Arcutis Biotherapeutics, Inc. (ARQT) grew revenue by 91.3% over the past year. This is strong growth.
Arcutis Biotherapeutics, Inc. (ARQT) reported a net loss of $16.1M for fiscal year 2025.
Arcutis Biotherapeutics, Inc. (ARQT) has a return on equity (ROE) of -9.3%. Negative ROE indicates the company is unprofitable.
Arcutis Biotherapeutics, Inc. (ARQT) had negative free cash flow of $6.3M in fiscal year 2025, likely due to heavy capital investments.
Arcutis Biotherapeutics, Inc. (ARQT) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates