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ARQTArcutis Biotherapeutics, Inc.
$26.21$3.3B
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ARQT logoArcutis Biotherapeutics, Inc.(ARQT)Earnings, Financials & Key Ratios

ARQT•NASDAQ
Price updated Jun 19, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryCommercial 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 Margin90.24%
  • EBITDA Margin-1.82%+97.2%
  • Operating Margin-3.25%+95.0%
  • Net Margin-4.29%+94.0%
  • ROE-9.3%+91.8%

ARQT Key Insights

Arcutis Biotherapeutics, Inc. (ARQT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 34.7%

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Expensive at 17.6x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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ARQT Price & Volume

Arcutis Biotherapeutics, Inc. (ARQT) stock price & volume — 10-year historical chart

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ARQT Growth Metrics

Arcutis Biotherapeutics, Inc. (ARQT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years367.27%
TTM95.29%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM98.17%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM96.71%

Return on Capital

10 Years-66.24%
5 Years-51.69%
3 Years-39.4%
Last Year-4.28%

ARQT Recent Earnings

Arcutis Biotherapeutics, Inc. (ARQT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 6, 2026
Metric
Actual
Est
EPS
$0.09-350.0%
$0.02
Rev
$105M+1.7%
$104M
Q1 2026
Feb 25, 2026
Metric
Actual
Est
EPS
$0.13+333.3%
$0.03
Rev
$130M+14.5%
$113M
Q4 2025
Oct 28, 2025
Metric
Actual
Est
EPS
$0.06+160.0%
$0.10
Rev
$99M-10.4%
$111M
Q3 2025
Aug 6, 2025
Metric
Actual
Est
EPS
$0.13+27.8%
$0.18
Rev
$82M+1.1%
$81M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 6, 2026
$0.09vs $0.02-350.0%
$105Mvs $104M+1.7%
Q1 2026Feb 25, 2026
$0.13vs $0.03+333.3%
$130Mvs $113M+14.5%
Q4 2025Oct 28, 2025
$0.06vs $0.10+160.0%
$99Mvs $111M-10.4%
Q3 2025Aug 6, 2025
$0.13vs $0.18+27.8%
$82Mvs $81M+1.1%
Based on last 12 quarters of dataView full earnings history →

ARQT Peer Comparison

Arcutis Biotherapeutics, Inc. (ARQT) competitors in Commercial Specialty Pharma — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
DERM logoDERMJourney Medical CorporationDirect Competitor171.19M6.22-13.2310.2%-14.82%-35.57%0.00
NVCR logoNVCRNovoCure LimitedDirect Competitor1.62B14.28-11.708.28%-25.66%-50.82%0.85
PRGO logoPRGOPerrigo Company plcDirect Competitor1.42B10.25-1.00-2.75%-43.5%-50.65%1.35
INVA logoINVAInnoviva, Inc.Product Competitor1.66B22.496.8218.52%118.91%47.59%0.23
DAWN logoDAWNDay One Biopharmaceuticals, Inc.Product Competitor2.22B21.53-20.7020.6%-67.85%-23.43%0.01
NKTR logoNKTRNektar TherapeuticsProduct Competitor1.19B60.98-6.27-43.89%-284.18%-87%1.66
HRMY logoHRMYHarmony Biosciences Holdings, Inc.Product Competitor1.93B33.2812.2821.51%16.2%17.19%0.28
VNDA logoVNDAVanda Pharmaceuticals Inc.Product Competitor342.83M5.80-1.558.72%-109.99%-61.41%0.04

Compare ARQT vs Peers

Arcutis Biotherapeutics, Inc. (ARQT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DERM

Most directly comparable listed peer for ARQT.

Scale Benchmark

vs LLY

Larger-name benchmark to compare ARQT against a more recognizable public peer.

Peer Set

Compare Top 5

vs DERM, NVCR, PRGO, INVA

ARQT Income Statement

Arcutis Biotherapeutics, Inc. (ARQT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
000003.69M59.61M196.54M376.07M415.62M
Revenue Growth %
------1517.09%229.74%91.34%95.29%
Cost of Goods Sold
00195K455K763K754K4.99M19.13M36.7M37.65M
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%
377.98M▲ 0%
Gross Margin %
-----79.54%91.63%90.27%90.24%90.94%
Gross Profit Growth %
----133.33%-67.69%484.27%1762.86%224.82%91.29%-
Operating Expenses
4.11M19.73M42.94M136.19M205.77M304.56M295.72M305.81M351.6M374.76M
OpEx % of Revenue
-----8262.59%496.12%155.6%93.49%-
Selling, General & Admin
695K1.79M6.42M20.88M60.97M122.12M185.15M229.39M274.55M284.63M
SG&A % of Revenue
-----3313.18%310.61%116.71%73.01%-
Research & Development
3.41M17.94M36.52M115.31M145.56M182.44M110.58M76.42M77.05M90.14M
R&D % of Revenue
-----4949.4%185.51%38.88%20.49%-
Other Operating Expenses
0000173K00000
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%
3.21M▲ 0%
Operating Margin %
------8183.04%-404.49%-65.33%-3.25%0.77%
Operating Income Growth %
--380.64%-118.56%-216.81%-51.14%-46.05%20.07%46.75%90.48%-
EBITDA
00-42.94M-136.19M-205.77M-300.37M-239.22M-125.8M-6.86M5.6M
EBITDA Margin %
------8149.05%-401.34%-64.01%-1.82%1.35%
EBITDA Growth %
----217.19%-51.09%-45.98%20.36%47.41%94.55%104.83%
D&A (Non-Cash Add-back)
4.11M19.73M195K455K763K1.25M1.88M2.6M5.37M2.39M
EBIT
-4.98M-19.25M-42M-135.68M-206.36M-295.81M-229.31M-112.22M-2.89M9.82M
Net Interest Income
001.14M967K173K-15.65M-29.71M-27.17M-12.08M-9.1M
Interest Income
001.14M967K173K00002.27M
Interest Expense
0000015.65M29.71M27.17M12.08M4.73M
Other Income/Expense
-872K480K1.14M967K173K-9.83M-17.93M-10.99M-2.74M-4.6M
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%
-1.39M▲ 0%
Pretax Margin %
------8449.76%-434.57%-70.92%-3.98%-0.33%
Income Tax
0000003.11M647K1.17M985K
Effective Tax Rate %
0%0%0%0%0%0%-1.2%-0.46%-7.82%-70.81%
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%
-2.38M▲ 0%
Net Margin %
------8449.76%-439.79%-71.25%-4.29%-0.57%
Net Income Growth %
--286.8%-118.1%-223.07%-52.09%-50.93%15.83%46.58%88.47%98.17%
Net Income (Continuing)
-4.98M-19.25M-42M-135.68M-206.36M-311.46M-262.14M-140.04M-16.14M-2.38M
Discontinued Operations
0000000000
Minority Interest
0000000000
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%
-0.02▲ 0%
EPS Growth %
-88.75%-107.55%-245.45%-9.74%-35.73%33.22%69.31%88.79%96.71%
EPS (Basic)
-4.71-0.53-1.10-3.80-4.17-5.66-3.78-1.16-0.13-
Diluted Shares Outstanding
1.06M36.24M38.09M35.67M49.41M55.03M69.31M120.96M127.23M129.37M
Basic Shares Outstanding
1.06M36.24M38.09M35.67M49.41M55.03M69.31M120.96M127.23M129.37M
Dividend Payout Ratio
----------

ARQT Balance Sheet

Arcutis Biotherapeutics, Inc. (ARQT) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
3.82M51.1M106.47M292.83M402.77M437.41M330.43M335.82M411.23M438.06M
Cash & Short-Term Investments
3.42M50.94M101.27M284.44M388.6M409.59M271.86M227.96M220.98M224M
Cash Only
3.42M39.39M63.34M65.08M97.99M53.64M88.4M71.33M42.91M34.76M
Short-Term Investments
011.55M37.93M219.36M290.61M355.95M183.46M156.62M178.07M189.24M
Accounts Receivable
000510K362K8.46M25.81M73.07M146.23M144.38M
Days Sales Outstanding
-----837.54158.03135.69141.92112.5
Inventory
000007.51M13.13M14.53M22.63M37.39M
Days Inventory Outstanding
-----3.64K961.28277.18225.14239.38
Other Current Assets
001.89M1.54M7.66M4.46M9.53M8.82M21.39M32.29M
Total Non-Current Assets
00538K5.44M5.38M11.87M10.93M13.07M21.74M21.95M
Property, Plant & Equipment
00491K5.37M5.3M4.6M3.9M2.99M5.51M5.4M
Fixed Asset Turnover
-----0.80x15.28x65.65x68.25x83.90x
Goodwill
0000000000
Intangible Assets
000007.19M6.44M9.48M14.81M14.25M
Long-Term Investments
0000000000
Other Non-Current Assets
0047K78K78K78K596K596K1.42M2.3M
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%
460M▲ 0%
Asset Turnover
-----0.01x0.17x0.56x0.87x1.03x
Asset Growth %
-1237.99%109.42%178.72%36.84%10.08%-24.02%2.2%24.1%21.85%
Total Current Liabilities
692K2.67M5.24M22.6M33.33M37.81M46.67M81.01M129.84M163.2M
Accounts Payable
537K1.8M1.41M7.14M7.35M8.83M11.99M14.22M12.53M18.3M
Days Payables Outstanding
--2.63K5.73K3.52K4.27K877.7271.35124.61125.31
Short-Term Debt
0000433K657K001M7.95M
Deferred Revenue (Current)
0000000000
Other Current Liabilities
0116K225K176K16.41M13.67M19.07M20.75M116.31M136.96M
Current Ratio
5.52x19.12x20.33x12.96x12.09x11.57x7.08x4.15x3.17x2.68x
Quick Ratio
5.52x19.12x20.33x12.96x12.09x11.37x6.80x3.97x2.99x2.46x
Cash Conversion Cycle
-----201.94241.61141.53242.45226.58
Total Non-Current Liabilities
8.12M72.41M313K5.05M77.15M201.89M206.03M110.33M113.66M107.15M
Long-Term Debt
966K00072.35M197.77M201.8M107.2M5.27M5.25M
Capital Lease Obligations
00129K4.96M4.77M4.12M3.38M2.56M07.39M
Deferred Tax Liabilities
0000000000
Other Non-Current Liabilities
7.15M72.41M184K82K25K0849K570K108.39M101.9M
Total Liabilities
8.81M75.08M5.55M27.65M110.47M239.69M252.7M191.35M243.49M270.36M
Total Debt
966K0307K4.96M77.56M202.54M205.92M110.58M6.27M13.2M
Net Debt
-2.45M-39.39M-63.03M-60.12M-20.43M148.9M117.52M39.25M-36.64M-21.56M
Debt / Equity
--0.00x0.02x0.26x0.97x2.32x0.70x0.03x0.07x
Debt / EBITDA
---------2.36x
Net Debt / EBITDA
----------3.85x
Interest Coverage
------18.90x-7.72x-4.13x-0.24x2.08x
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%
189.65M▲ 0%
Equity Growth %
--380.41%522.99%166.72%10%-29.59%-57.69%77.68%20.27%28.67%
Book Value per Share
-4.73-0.662.667.596.033.811.281.301.491.47
Total Shareholders' Equity
-4.99M-23.99M101.46M270.62M297.68M209.58M88.67M157.54M189.48M189.65M
Common Stock
0004K5K6K9K12K12K12K
Retained Earnings
-5.02M-24.28M-66.27M-201.95M-408.31M-719.76M-981.9M-1.12B-1.14B-1.15B
Treasury Stock
0000000000
Accumulated OCI
00-1K-2K-255K-1.09M4K-7K-44K-514K
Minority Interest
0000000000

ARQT Cash Flow Statement

Arcutis Biotherapeutics, Inc. (ARQT) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-3.77M-14.09M-42.84M-113.03M-174.63M-257.71M-247.06M-112.16M-5.63M26.99M
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%3903.7%
Net Income
-4.98M-19.25M-42M-135.68M-206.36M-311.46M-262.14M-140.04M-16.14M-2.38M
Depreciation & Amortization
0068K122K454K934K1.52M2.6M4.67M2.1M
Stock-Based Compensation
27K151K824K7.94M23.89M32.68M38.81M41.73M40.36M30.59M
Deferred Taxes
000114K3.45M00000
Other Non-Cash Items
897K2.91M-227K333K309K30.3M-1.75M-1.37M314K12.04M
Working Capital Changes
279K2.11M-1.5M14.13M3.62M-10.18M-23.5M-15.08M-34.83M-15.35M
Change in Receivables
00000-8.46M-17.35M-47.26M-73.16M-58.96M
Change in Inventory
00000-7.51M-5.62M-400K-7.33M-19.96M
Change in Payables
537K1.26M-458K5.67M245K1.56M3.15M2.23M-1.69M3.61M
Cash from Investing
0-11.53M-26.32M-181.82M-75.95M-87.2M180.23M28.82M-30.25M-53.34M
Capital Expenditures
00-295K-321K-995K-23.28M-428K-143K-686K-78K
CapEx % of Revenue
-----631.66%0.72%0.07%0.18%0.02%
Acquisitions
000181.5M74.96M22.95M0000
Investments
----------
Other Investing
0-11.53M0-181.5M-74.96M-22.95M0-5M-10M-10M
Cash from Financing
7.12M61.59M93.1M298.14M281.95M301.8M101.32M66.2M6.97M7.64M
Debt Issued (Net)
50K00073.99M125M0-100M00
Equity Issued (Net)
061.21M94.24M297M207.49M176.05M98.9M161.68M6.97M6.17M
Dividends Paid
0000000000
Share Repurchases
0000000000
Other Financing
7.07M386K-1.14M1.14M470K751K2.42M4.52M01.48M
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%
-18.65M▲ 0%
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%
26.92M▲ 0%
FCF Margin %
------7623.39%-415.2%-57.14%-1.68%6.48%
FCF Growth %
--273.11%-206.22%-162.81%-54.93%-60%11.93%54.62%94.38%123.07%
FCF per Share
-3.57-0.39-1.13-3.18-3.55-5.11-3.57-0.93-0.050.21
FCF Conversion (FCF/Net Income)
0.76x0.73x1.02x0.83x0.85x0.83x0.94x0.80x0.35x-11.33x
Interest Paid
0000000002.62M
Taxes Paid
0000000000

ARQT Key Ratios

Arcutis Biotherapeutics, Inc. (ARQT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025TTM
Return on Equity (ROE)
--108.41%-72.93%-72.62%-122.8%-175.79%-113.76%-9.3%-1.41%
Return on Invested Capital (ROIC)
---82.34%-63.52%-71.17%-64.05%-47.79%-5.25%1.34%
Gross Margin
----79.54%91.63%90.27%90.24%90.94%
Net Margin
-----8449.76%-439.79%-71.25%-4.29%-0.57%
Debt / Equity
-0.00x0.02x0.26x0.97x2.32x0.70x0.03x0.07x
Interest Coverage
-----18.90x-7.72x-4.13x-0.24x2.08x
FCF Conversion
0.73x1.02x0.83x0.85x0.83x0.94x0.80x0.35x-11.33x
Revenue Growth
-----1517.09%229.74%91.34%95.29%
Related:ARQT Dividend History·ARQT Revenue History·ARQT Price History·ARQT P/E History·ARQT Financial Ratios·ARQT Institutional Holders

ARQT SEC Filings & Documents

Arcutis Biotherapeutics, Inc. (ARQT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 6, 2026·SEC

Material company update

Feb 25, 2026·SEC

Material company update

Dec 8, 2025·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Oct 28, 2025·SEC

FY 2025

Aug 6, 2025·SEC

ARQT Frequently Asked Questions

Arcutis Biotherapeutics, Inc. (ARQT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Arcutis Biotherapeutics, Inc. (ARQT) reported $415.6M 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 $2.4M for fiscal year 2025.

Dividend & Returns

Arcutis Biotherapeutics, Inc. (ARQT) has a return on equity (ROE) of -9.3%. Negative ROE indicates the company is unprofitable.

Arcutis Biotherapeutics, Inc. (ARQT) generated $26.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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