Arcutis Biotherapeutics, Inc.
Arcutis Biotherapeutics, Inc.
Arcutis Biotherapeutics, Inc. (ARQT) — SEC Financial Statements & Analysis
Arcutis Biotherapeutics, Inc. (ARQT) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents Fair Value Disclosure | 35 | 43 | 47 | 73 | 53 | 71 | 135 | 84 | 190 | 88 | 107 | 105 | |||||
Restricted Cash And Cash Equivalents | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Available For Sale Securities Debt Securities Curr… | 189 | 178 | 144 | 118 | 145 | 157 | 196 | 278 | 214 | 183 | 120 | 164 | |||||
Accounts Receivable Net Current | 144 | 146 | 115 | 107 | 85 | 73 | 60 | 43 | 37 | 26 | 19 | 17 | |||||
Inventory Net | 37 | 23 | 22 | 16 | 17 | 15 | 14 | 14 | 13 | 13 | 14 | 10 | |||||
Prepaid Expense And Other Assets Current | 32 | 21 | 20 | 19 | 23 | 20 | 18 | 14 | 13 | 19 | 20 | 12 | |||||
Assets Current | 438 | 411 | 349 | 333 | 324 | 336 | 424 | 435 | 468 | 330 | 282 | 309 | |||||
Property Plant And Equipment Net | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | |||||
Intangible Assets Net Excluding Goodwill | 14 | 15 | 15 | 16 | 17 | 9 | 10 | 6 | 6 | 6 | 7 | 7 | |||||
Operating Lease Right Of Use Asset | 4 | 4 | 5 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | |||||
Other Assets Noncurrent | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Assets | 460 | 433 | 371 | 352 | 344 | 349 | 437 | 445 | 479 | 341 | 293 | 321 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 18 | 13 | 6 | 15 | 25 | 14 | 19 | 8 | 13 | 12 | 13 | 17 | |||||
Long Term Debt Current | 8 | 1 | 1 | 1 | - | 0 | 100 | - | - | - | - | - | |||||
Operating Lease Liability Current | - | 0 | - | - | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Accrued Liabilities Current | 137 | 116 | 93 | 88 | 66 | 67 | 53 | 43 | 34 | 34 | 28 | 19 | |||||
Liabilities Current | 163 | 130 | 100 | 104 | 91 | 81 | 172 | 51 | 47 | 47 | 42 | 37 | |||||
Operating Lease Liability Noncurrent | 5 | 5 | 5 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | |||||
Long Term Debt Noncurrent | 101 | 108 | 107 | 107 | 108 | 107 | 105 | 204 | 203 | 202 | 201 | 200 | |||||
Other Liabilities Noncurrent | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | - | - | |||||
Liabilities | 270 | 243 | 213 | 213 | 201 | 191 | 281 | 258 | 254 | 253 | 246 | 240 | |||||
Stockholders Equity | |||||||||||||||||
Preferred Stock Value | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital | 1,340 | 1,328 | 1,314 | 1,302 | 1,290 | 1,279 | 1,267 | 1,256 | 1,242 | 1,071 | 963 | 952 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -1 | -0 | -0 | -0 | -0 | -0 | 1 | -0 | -0 | 0 | -0 | -0 | |||||
Retained Earnings Accumulated Deficit | -1,149 | -1,138 | -1,155 | -1,163 | -1,147 | -1,122 | -1,111 | -1,070 | -1,017 | -982 | -916 | -871 | |||||
Stockholders Equity | 190 | 189 | 158 | 139 | 143 | 158 | 157 | 186 | 225 | 89 | 47 | 81 | |||||
Liabilities And Stockholders Equity | 460 | 433 | 371 | 352 | 344 | 349 | 437 | 445 | 479 | 341 | 293 | 321 | |||||
Preferred Stock Par Or Stated Value Per Share | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Par Or Stated Value Per Share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Shares Authorized | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | |||||
Common Stock Shares Issued | 125 | 123 | 120 | 120 | 119 | 118 | 117 | 116 | 116 | 97 | 62 | 62 | |||||
Preferred Stock Shares Authorized | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |||||
Preferred Stock Shares Issued | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Shares Outstanding | 125 | 123 | 120 | 120 | 119 | 118 | 117 | 116 | 116 | 97 | 62 | 62 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -11.21% | 11.71% | - | - | - | - | - | - | - | - | - | - |
| 2025 | -8.94% | -4.05% | 3.77% | 1.04% | 14.39% | 30.92% | 18.20% | 12.26% | 3.61% | -17.77% | -9.18% | -21.07% |
| 2024 | -10.95% | 29.03% | 13.78% | 8.14% | 4.59% | -9.50% | 34.99% | 48.03% | 43.37% | 39.43% | 6.64% | 15.66% |
| 2023 | -44.67% | -35.70% | -26.72% | -8.85% | -45.98% | -76.25% | -16.80% | 21.31% | 33.20% | -9.60% | -14.39% | -13.45% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 2.68 | 3.17 | 3.50 | 3.20 | 3.55 | 4.15 | 2.46 | 8.46 | 9.89 | 7.08 | 6.72 | 8.43 | |||||
| Quick Ratio | 2.26 | 2.83 | 3.07 | 2.87 | 3.12 | 3.72 | 2.27 | 7.92 | 9.34 | 6.40 | 5.91 | 7.82 | |||||
| Working Capital | 274.85M | 281.39M | 249.45M | 228.84M | 232.54M | 254.81M | 251.29M | 383.24M | 420.75M | 283.76M | 239.66M | 272.21M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 1.43 | 1.29 | 1.35 | 1.54 | 1.41 | 1.21 | 1.79 | 1.39 | 1.13 | 2.85 | 5.27 | 2.98 | |||||
| Interest Coverage TTM | 0.24 | -1.01 | -2.61 | -4.71 | -5.35 | -4.73 | -6.19 | -5.94 | -6.52 | -8.11 | -8.60 | -12.07 | |||||
| Debt Ratio | 0.59 | 0.56 | 0.57 | 0.61 | 0.59 | 0.55 | 0.64 | 0.58 | 0.53 | 0.74 | 0.84 | 0.75 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 1.03 | 0.95 | 0.78 | 0.65 | 0.51 | 0.48 | 0.30 | 0.19 | 0.11 | 0.07 | 0.05 | 0.04 | |||||
| Days Sales Outstanding TTM | 101.39 | 107.56 | 101.87 | 105.58 | 107.12 | 108.35 | 131.11 | 149.37 | 189.91 | 214.26 | 214.13 | 558.92 | |||||
| Receivables Turnover TTM | 3.60 | 3.39 | 3.58 | 3.46 | 3.41 | 3.37 | 2.78 | 2.44 | 1.92 | 1.70 | 1.70 | 0.65 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -0.02 | -0.13 | -0.33 | -0.73 | -1.03 | -1.16 | -1.57 | -1.61 | -1.96 | -1.89 | -2.17 | -2.69 | |||||
| Free Cash Flow Per Share TTM | 0.21 | -0.05 | -0.30 | -0.56 | -0.93 | -0.97 | -1.35 | -1.43 | -1.79 | -1.79 | -2.13 | -2.33 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 90.90% | 90.14% | 89.83% | 88.93% | 88.17% | 88.51% | 86.93% | 86.30% | 84.45% | 82.91% | 82.68% | 79.42% | |||||
| Operating Profit Margin TTM | 0.78% | -3.29% | -12.18% | -33.08% | -58.09% | -77.10% | -164.34% | -242.73% | -409.51% | -826.08% | -1,333.74% | -2,813.92% | |||||
| Net Profit Margin TTM | -0.57% | -4.34% | -14.12% | -35.95% | -62.12% | -84.09% | -176.62% | -268.37% | -453.21% | -898.17% | -1,438.56% | -2,944.02% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 98.08% | 123.41% | 183.56% | 250.33% | 335.28% | 470.62% | 494.53% | 559.09% | 641.83% | 691.81% | 2,468.41% | - | |||||
| Net Income Growth (1Y) | -98.17% | -88.47% | -77.33% | -53.07% | -40.34% | -46.58% | -27.01% | -39.92% | -33.56% | -15.83% | -13.80% | 27.22% | |||||
| EPS Growth (1Y) | -98.22% | -89.04% | -77.92% | -54.37% | -47.43% | -38.78% | -27.50% | -40.22% | -26.80% | -33.17% | -20.27% | 6.49% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -1,282.76 | -228.91 | -54.28 | -19.09 | -15.20 | -12.03 | -5.91 | -5.78 | -5.06 | -1.71 | -2.45 | -3.54 | |||||
| P/B | 16.07 | 19.50 | 15.22 | 12.81 | 13.82 | 10.70 | 7.38 | 6.16 | 4.89 | 5.05 | 14.03 | 14.54 | |||||
| P/S TTM | 7.37 | 9.93 | 7.66 | 6.86 | 9.44 | 10.12 | 10.44 | 15.51 | 22.94 | 15.34 | 35.20 | 104.20 | |||||
| Market Cap | 3.05B | 3.69B | 2.41B | 1.78B | 1.97B | 1.68B | 1.16B | 1.15B | 1.10B | 447.71M | 655.54M | 1.17B | |||||
| Enterprise Value | 3.12B | 3.76B | 2.47B | 1.82B | 2.03B | 1.72B | 1.23B | 1.27B | 1.11B | 560.19M | 747.93M | 1.26B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 26.92M | -6.31M | -38.24M | -71.32M | -116.69M | -117.30M | -167.80M | -177.02M | -198.66M | -247.49M | -262.42M | -286.08M | |||||
| Net Debt | 74.35M | 65.74M | 61.07M | 35.00M | 53.90M | 35.25M | 69.14M | 118.92M | 12.09M | 112.48M | 92.39M | 93.73M | |||||
Per-Share and Margin | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
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| Payables Turnover TTM | |||||||||||||||||
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| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
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| Dividends Paid Growth (5Y) | |||||||||||||||||
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| Net Income Growth (3Y) | |||||||||||||||||
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| Net Profit Margin Growth (1Y) | |||||||||||||||||
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| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
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| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
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| Total Debt | |||||||||||||||||
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