Free Trial
→ Ticker Revealed: Pre-IPO Access to 'Next Elon Musk' Company (From Banyan Hill Publishing) (Ad)tc pixel Free ARQT Stock Alerts

Arcutis Biotherapeutics (ARQT) Financials

Arcutis Biotherapeutics logo
$26.37 +0.70 (+2.74%)
As of 11:41 AM Eastern
This is a fair market value price provided by Massive. Learn more.
Compare
Annual Income Statements for Arcutis Biotherapeutics

Annual Income Statements for Arcutis Biotherapeutics

This table shows Arcutis Biotherapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -19 -42 -136 -206 -311 -262 -140 -16
Consolidated Net Income / (Loss)		 -19 -42 -136 -206 -311 -262 -140 -16
Net Income / (Loss) Continuing Operations		 -19 -42 -136 -206 -311 -262 -140 -16
Total Pre-Tax Income 		-19 -42 -136 -206 -311 -259 -139 -15
Total Operating Income		 -20 -43 -137 -207 -302 -241 -128 -12
Total Gross Profit		 0.00 0.00 0.00 0.00 2.93 55 177 339
Total Revenue		 0.00 0.00 0.00 0.00 3.69 60 197 376
Operating Revenue		 - - 0.00 0.00 3.69 60 197 376
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.75 4.99 19 37
Operating Cost of Revenue		 - - 0.00 0.00 0.75 4.99 19 37
Total Operating Expenses		 20 43 137 207 305 296 306 352
Selling, General & Admin Expense		 1.80 6.61 21 61 122 185 229 275
Research & Development Expense		 18 37 115 146 182 111 76 77
Total Other Income / (Expense), net		 0.48 1.14 0.97 0.17 -9.83 -18 -11 -2.74
Interest Expense		 - - 0.00 0.00 16 30 27 12
Interest & Investment Income		 - - - - - 13 16 8.90
Other Income / (Expense), net		 0.48 1.14 0.97 0.17 5.82 -0.73 0.05 0.44
Income Tax Expense		 - - - - 0.00 3.11 0.65 1.17
Basic Earnings per Share		 ($15.53) ($22.78) ($3.80) ($4.18) ($5.66) ($3.78) ($1.16) ($0.13)
Weighted Average Basic Shares Outstanding		 1.24M 1.84M 35.67M 49.41M 55.03M 69.31M 120.96M 127.23M
Diluted Earnings per Share		 ($15.53) ($22.78) ($3.80) ($4.18) ($5.66) ($3.78) ($1.16) ($0.13)
Weighted Average Diluted Shares Outstanding		 1.24M 1.84M 35.67M 49.41M 55.03M 69.31M 120.96M 127.23M
Weighted Average Basic & Diluted Shares Outstanding		 1.24M 1.84M 35.67M 50.38M 61.08M - 118.64M 124.03M

Quarterly Income Statements for Arcutis Biotherapeutics

This table shows Arcutis Biotherapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -45 -66 -35 -52 -42 -11 -25 -16 7.41 17 -11
Consolidated Net Income / (Loss)		 -45 -66 -35 -52 -42 -11 -25 -16 7.41 17 -11
Net Income / (Loss) Continuing Operations		 -45 -66 -35 -52 -42 -11 -25 -16 7.41 17 -11
Total Pre-Tax Income 		-42 -66 -35 -52 -42 -27 -25 -16 7.49 18 -11
Total Operating Income		 -37 -61 -32 -50 -39 -7.63 -25 -15 8.53 18 -9.09
Total Gross Profit		 37 11 46 27 39 64 57 74 91 118 96
Total Revenue		 38 14 50 31 45 71 66 82 99 130 105
Operating Revenue		 38 14 50 31 45 71 66 82 99 130 105
Total Cost of Revenue		 1.18 2.25 3.26 3.46 5.50 6.91 8.83 7.49 8.69 12 9.78
Operating Cost of Revenue		 1.18 2.25 3.26 3.46 5.50 6.91 8.83 7.49 8.69 12 9.78
Total Operating Expenses		 74 72 78 77 78 72 82 89 82 99 105
Selling, General & Admin Expense		 48 49 55 58 59 58 64 69 62 79 74
Research & Development Expense		 26 24 23 19 20 14 18 19 20 20 31
Total Other Income / (Expense), net		 -4.84 -5.03 -3.44 -2.26 -2.47 -19 -0.25 -0.93 -1.04 -0.52 -2.11
Interest Expense		 7.56 7.76 7.48 7.48 6.65 5.55 2.98 3.03 3.07 3.00 4.37
Interest & Investment Income		 - - - - - - 2.54 - - - 2.28
Other Income / (Expense), net		 2.72 2.74 4.04 5.23 4.18 - 0.19 2.10 2.04 -6.42 -0.02
Income Tax Expense		 3.02 0.09 0.32 0.00 0.00 0.32 0.28 0.34 0.08 0.47 0.09
Basic Earnings per Share		 ($0.73) ($0.58) ($0.32) ($0.42) ($0.33) ($0.09) ($0.20) ($0.13) $0.06 $0.14 ($0.09)
Weighted Average Basic Shares Outstanding		 61.73M 69.31M 111.05M 123.48M 124.30M 120.96M 126.04M 127.00M 127.62M 127.23M 129.37M
Diluted Earnings per Share		 ($0.73) ($0.58) ($0.32) ($0.42) ($0.33) ($0.09) ($0.20) ($0.13) $0.06 $0.14 ($0.09)
Weighted Average Diluted Shares Outstanding		 61.73M 69.31M 111.05M 123.48M 124.30M 120.96M 126.04M 127.00M 132.88M 127.23M 129.37M
Weighted Average Basic & Diluted Shares Outstanding		 94.38M 0.00 115.76M 116.89M 117.04M 118.64M 119.20M 119.91M 122.49M 124.03M 125.08M

Annual Cash Flow Statements for Arcutis Biotherapeutics

This table details how cash moves in and out of Arcutis Biotherapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 36 24 3.29 31 -43 34 -17 -29
Net Cash From Operating Activities		 -14 -43 -113 -175 -258 -247 -112 -5.63
Net Cash From Continuing Operating Activities		 -14 -43 -113 -175 -258 -247 -112 -5.63
Net Income / (Loss) Continuing Operations		 -19 -42 -136 -206 -311 -262 -140 -16
Consolidated Net Income / (Loss)		 -19 -42 -136 -206 -311 -262 -140 -16
Amortization Expense		 -0.01 -0.35 0.07 3.45 -1.94 -6.24 -4.94 2.57
Non-Cash Adjustments To Reconcile Net Income		 3.08 0.95 8.32 24 65 45 48 43
Changes in Operating Assets and Liabilities, net		 2.11 -1.51 14 3.62 -10 -24 -15 -35
Net Cash From Investing Activities		 -12 -26 -182 -76 -87 180 29 -30
Net Cash From Continuing Investing Activities		 -12 -26 -182 -76 -87 180 29 -30
Purchase of Property, Plant & Equipment		 0.00 -0.30 -0.32 -1.00 -0.33 -0.43 -0.14 -0.69
Acquisitions		 - - 0.00 0.00 -23 0.00 -5.00 -10
Purchase of Investments		 -12 -61 -279 -293 -415 -226 -255 -247
Sale and/or Maturity of Investments		 0.00 35 98 218 351 407 289 227
Net Cash From Financing Activities		 62 93 298 282 302 101 66 6.97
Net Cash From Continuing Financing Activities		 62 93 298 282 302 101 66 6.97
Repayment of Debt		 0.00 -1.40 0.00 -1.64 -2.19 0.00 -100 0.00
Issuance of Common Equity		 0.00 0.00 298 208 178 100 163 2.38
Other Financing Activities, net		 0.39 0.27 0.53 1.27 1.02 1.25 2.81 4.60
Effect of Exchange Rate Changes		 - - - - 0.00 -0.05 -0.24 0.17
Cash Interest Paid		 - 0.00 0.00 0.14 13 25 22 10

Quarterly Cash Flow Statements for Arcutis Biotherapeutics

This table details how cash moves in and out of Arcutis Biotherapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 2.36 -19 101 -106 51 -64 -18 19 -26 -4.21 -8.15
Net Cash From Operating Activities		 -44 -56 -32 -45 -35 -0.75 -30 0.32 -1.75 26 2.24
Net Cash From Continuing Operating Activities		 -44 -56 -32 -44 -35 -0.75 -30 0.32 -1.75 26 2.24
Net Income / (Loss) Continuing Operations		 -45 -66 -35 -52 -42 -11 -25 -16 7.41 17 -11
Consolidated Net Income / (Loss)		 -45 -66 -35 -52 -42 -11 -25 -16 7.41 17 -11
Amortization Expense		 -1.35 -1.29 -1.54 -2.20 -0.42 -0.78 2.12 -0.13 0.01 0.57 0.38
Non-Cash Adjustments To Reconcile Net Income		 11 11 11 14 10 12 10 11 11 11 11
Changes in Operating Assets and Liabilities, net		 -9.18 0.41 -5.44 -4.27 -3.80 -1.57 -18 5.13 -20 -2.33 1.79
Net Cash From Investing Activities		 46 -62 -29 -62 85 35 12 17 -25 -34 -11
Net Cash From Continuing Investing Activities		 46 -62 -29 -62 85 35 12 17 -25 -34 -11
Purchase of Property, Plant & Equipment		 -0.06 -0.01 0.00 - -0.14 - -0.61 -0.08 - - 0.00
Purchase of Investments		 -22 -118 -106 -126 -5.69 -17 -56 -33 -69 -89 -62
Sale and/or Maturity of Investments		 68 56 77 64 91 57 68 61 43 55 51
Net Cash From Financing Activities		 0.87 99 162 1.46 0.39 -97 0.40 1.38 1.48 3.72 1.07
Net Cash From Continuing Financing Activities		 0.87 99 162 1.46 0.39 -97 0.40 1.38 1.48 3.72 1.07
Other Financing Activities, net		 0.87 0.21 0.08 0.81 0.39 1.53 0.40 0.06 1.48 2.67 1.07
Effect of Exchange Rate Changes		 -0.08 0.07 -0.07 -0.03 0.10 -0.23 0.00 0.20 -0.10 0.06 -0.12
Cash Interest Paid		 6.55 6.58 6.51 6.51 6.23 2.96 2.57 2.60 2.62 2.54 2.91

Annual Balance Sheets for Arcutis Biotherapeutics

This table presents Arcutis Biotherapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 107 298 408 449 341 349 433
Total Current Assets		 106 293 403 437 330 336 411
Cash & Equivalents		 63 65 96 54 88 71 43
Restricted Cash		 0.00 1.54 1.54 1.23 0.93 0.62 0.31
Short-Term Investments		 38 219 291 356 183 157 178
Accounts Receivable		 - - 0.00 8.46 26 73 146
Inventories, net		 - - 0.00 7.51 13 15 23
Prepaid Expenses		 5.21 6.84 14 11 19 20 21
Plant, Property, & Equipment, net		 0.23 2.02 2.26 1.88 1.54 1.04 1.04
Total Noncurrent Assets		 0.31 3.43 3.12 9.99 9.40 12 21
Intangible Assets		 - - 0.00 7.19 6.44 9.48 15
Other Noncurrent Operating Assets		 0.31 3.43 3.12 2.80 2.96 2.55 5.89
Total Liabilities & Shareholders' Equity		 107 298 408 449 341 349 433
Total Liabilities		 5.55 28 110 240 253 191 243
Total Current Liabilities		 5.24 23 33 38 47 81 130
Short-Term Debt		 - - - - - 0.00 1.00
Accounts Payable		 1.41 7.14 7.35 8.83 12 14 13
Accrued Expenses		 3.65 15 26 28 34 67 116
Total Noncurrent Liabilities		 0.31 5.05 77 202 206 110 114
Long-Term Debt		 - - 72 198 202 107 108
Other Noncurrent Operating Liabilities		 0.31 5.05 4.80 4.12 4.23 3.13 5.70
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -65 271 298 210 89 158 189
Total Preferred & Common Equity		 -65 271 298 210 89 158 189
Total Common Equity		 -65 271 298 210 89 158 189
Common Stock		 1.24 473 706 930 1,071 1,279 1,328
Retained Earnings		 -66 -202 -408 -720 -982 -1,122 -1,138
Accumulated Other Comprehensive Income / (Loss)		 -0.00 -0.00 -0.26 -1.09 0.00 -0.01 -0.04

Quarterly Balance Sheets for Arcutis Biotherapeutics

This table presents Arcutis Biotherapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 509 379 321 293 479 445 437 344 352 371 460
Total Current Assets		 497 368 309 282 468 435 424 324 333 349 438
Cash & Equivalents		 82 81 105 107 190 84 135 53 73 47 35
Restricted Cash		 1.23 0.93 0.93 0.93 0.62 0.62 0.62 0.62 0.31 0.31 0.31
Short-Term Investments		 395 251 164 120 214 278 196 145 118 144 189
Accounts Receivable		 2.43 13 17 19 37 43 60 85 107 115 144
Inventories, net		 4.31 8.55 10 14 13 14 14 17 16 22 37
Prepaid Expenses		 12 13 12 20 13 14 18 23 19 20 32
Plant, Property, & Equipment, net		 1.94 2.07 1.87 1.74 1.37 1.35 1.19 1.50 1.39 1.22 1.04
Total Noncurrent Assets		 10 9.71 9.95 9.68 9.11 8.82 12 19 18 21 21
Intangible Assets		 7.38 7.00 6.81 6.63 6.25 6.06 9.79 17 16 15 14
Other Noncurrent Operating Assets		 2.88 2.71 3.14 3.05 2.86 2.76 2.66 2.44 2.32 5.16 6.66
Total Liabilities & Shareholders' Equity		 509 379 321 293 479 445 437 344 352 371 460
Total Liabilities		 238 240 240 246 254 258 281 201 213 213 270
Total Current Liabilities		 37 37 37 42 47 51 172 91 104 100 163
Short-Term Debt		 - - - - - - 100 - 1.00 1.00 7.95
Accounts Payable		 8.67 12 17 13 13 7.94 19 25 15 5.80 18
Accrued Expenses		 28 24 19 28 34 43 53 66 88 93 137
Total Noncurrent Liabilities		 201 203 204 204 206 207 108 110 110 113 107
Long-Term Debt		 197 199 200 201 203 204 105 108 107 107 101
Other Noncurrent Operating Liabilities		 4.29 3.94 3.76 3.57 3.49 3.17 3.19 2.70 2.47 5.64 5.68
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 271 140 81 47 225 186 157 143 139 158 190
Total Preferred & Common Equity		 271 140 81 47 225 186 157 143 139 158 190
Total Common Equity		 271 140 81 47 225 186 157 143 139 158 190
Common Stock		 920 940 952 963 1,242 1,256 1,267 1,290 1,302 1,314 1,340
Retained Earnings		 -648 -800 -871 -916 -1,017 -1,070 -1,111 -1,147 -1,163 -1,155 -1,149
Accumulated Other Comprehensive Income / (Loss)		 -1.60 -0.41 -0.29 -0.18 -0.13 -0.29 0.53 -0.14 -0.04 -0.06 -0.51

Annual Metrics And Ratios for Arcutis Biotherapeutics

This table displays calculated financial ratios and metrics derived from Arcutis Biotherapeutics' official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 1,517.09% 229.74% 91.34%
EBITDA Growth		 0.00% -119.43% -220.43% -49.43% -46.77% 20.98% 43.48% 93.09%
EBIT Growth		 0.00% -118.10% -223.07% -52.09% -43.35% 22.48% 44.01% 90.82%
NOPAT Growth		 0.00% -118.56% -216.81% -51.14% -46.05% 20.07% 46.75% 90.48%
Net Income Growth		 0.00% -118.10% -223.07% -52.09% -50.93% 15.83% 46.58% 88.47%
EPS Growth		 0.00% -46.68% 83.32% -10.00% -35.41% 33.22% 69.31% 88.79%
Operating Cash Flow Growth		 0.00% -204.13% -163.87% -54.49% -47.58% 4.14% 54.60% 94.98%
Free Cash Flow Firm Growth		 0.00% 0.00% -163.55% -76.49% -60.05% 16.05% 42.94% 54.29%
Invested Capital Growth		 0.00% 0.00% -7,897.97% -20.91% 81.30% 609.07% 104.59% 113.28%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 408.41% 21.54% 0.00% 18.29%
EBITDA Q/Q Growth		 0.00% 0.00% -18.44% -22.12% 1.07% 3.13% 0.00% 75.13%
EBIT Q/Q Growth		 0.00% 0.00% -18.81% -22.05% 2.06% 2.83% 0.00% 69.19%
NOPAT Q/Q Growth		 0.00% 0.00% -18.23% -21.98% 0.94% 2.92% 0.00% 68.03%
Net Income Q/Q Growth		 0.00% 0.00% -18.81% -22.05% -0.22% 2.14% 0.00% 63.58%
EPS Q/Q Growth		 0.00% 0.00% 60.21% -21.51% 4.23% 13.90% 0.00% 63.89%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -16.22% -12.31% -8.12% 5.66% 0.00% 82.72%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -9.29% -8.62% 6.89% -921.49% 31.10%
Invested Capital Q/Q Growth		 0.00% 0.00% 7.69% -219.31% 67.45% -9.16% 20.29% 2.60%
Profitability Metrics		 - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 79.54% 91.63% 90.27% 90.24%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% -8,060.91% -393.89% -67.52% -2.45%
Operating Margin		 0.00% 0.00% 0.00% 0.00% -8,183.04% -404.49% -65.33% -3.25%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% -8,025.12% -384.72% -65.33% -3.13%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% -8,449.76% -439.79% -71.25% -4.29%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 101.20% 90.02% 107.82%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 105.29% 112.96% 121.16% 127.04%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -2,375.88% -333.80% -15.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% -2,310.14% -281.64% -8.62%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 2,200.09% 220.04% 5.80%
Return on Equity (ROE)		 0.00% -41.39% -72.93% -72.62% -122.80% -175.79% -113.76% -9.30%
Cash Return on Invested Capital (CROIC)		 0.00% -30,852.18% 0.00% 0.00% 0.00% -1,074.23% -402.47% -87.42%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% -69.00% -58.01% -37.20% -3.01%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% -72.65% -66.31% -40.58% -4.13%
Return on Common Equity (ROCE)		 0.00% 26.53% -40.30% -72.62% -122.80% -175.79% -113.76% -9.30%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 64.58% -50.14% -69.32% -148.61% -295.65% -88.89% 0.00%
Net Operating Profit after Tax (NOPAT)		 -14 -30 -96 -145 -211 -169 -90 -8.56
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% -5,728.13% -283.14% -45.73% -2.28%
Net Nonoperating Expense Percent (NNEP)		 0.00% -23.31% -20.67% -20.52% -37.91% -65.74% -52.15% -6.49%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -51.83% -58.10% -33.95% -2.87%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 20.46% 8.37% 9.73% 9.76%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 3,313.19% 310.61% 116.71% 73.01%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 4,949.40% 185.51% 38.88% 20.49%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 8,262.59% 496.12% 155.60% 93.49%
Earnings before Interest and Taxes (EBIT)		 -19 -42 -136 -206 -296 -229 -128 -12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -19 -42 -135 -202 -297 -235 -133 -9.21
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 4.54 3.50 4.30 3.44 10.35 18.77
Price to Tangible Book Value (P/TBV)		 0.00 0.00 4.54 3.50 4.46 3.71 11.01 20.37
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 244.64 5.11 8.30 9.46
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1,140.11 0.00 0.00 0.00 13.23 41.72 44.65
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 186.84 3.92 7.68 9.16
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.24 0.94 2.28 0.68 0.58
Long-Term Debt to Equity		 0.00 0.00 0.00 0.24 0.94 2.28 0.68 0.57
Financial Leverage		 0.00 -1.00 -1.04 -1.06 -1.04 -0.95 -0.78 -0.67
Leverage Ratio		 0.00 1.05 1.09 1.24 1.69 2.65 2.80 2.25
Compound Leverage Factor		 0.00 1.05 1.09 1.24 1.78 2.99 3.40 2.86
Debt to Total Capital		 0.00% 0.00% 0.00% 19.55% 48.55% 69.47% 40.49% 36.51%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.34%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 19.55% 48.55% 69.47% 40.49% 36.17%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 164.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -64.09% 100.00% 80.45% 51.45% 30.53% 59.51% 63.49%
Debt to EBITDA		 0.00 0.00 0.00 -0.36 -0.67 -0.86 -0.81 -11.83
Net Debt to EBITDA		 0.00 0.00 0.00 1.56 0.72 0.30 0.91 12.20
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.36 -0.67 -0.86 -0.81 -11.72
Debt to NOPAT		 0.00 0.00 0.00 -0.50 -0.94 -1.20 -1.19 -12.73
Net Debt to NOPAT		 0.00 0.00 0.00 2.19 1.01 0.42 1.35 13.12
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.50 -0.94 -1.20 -1.19 -12.61
Altman Z-Score		 0.00 16.20 25.28 3.68 -1.08 -4.35 0.84 6.64
Noncontrolling Interest Sharing Ratio		 0.00% 164.09% 44.75% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 20.33 12.96 12.09 11.57 7.08 4.15 3.17
Quick Ratio		 0.00 19.34 12.58 11.61 11.06 6.38 3.72 2.83
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -30 -80 -141 -226 -190 -108 -50
Operating Cash Flow to CapEx		 0.00% -14,520.68% -35,212.77% -17,550.45% -77,391.89% -57,723.60% -78,432.17% -819.97%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -14.45 -6.39 -3.99 -4.10
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 -16.47 -8.32 -4.13 -0.47
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -16.49 -8.33 -4.13 -0.52
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.01 0.15 0.57 0.96
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 3.48 3.98 3.43
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.48 1.38 1.98
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 1.78 34.86 152.36 360.91
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.09 0.48 1.46 2.74
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 104.91 91.81 106.42
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 755.62 263.90 184.81
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 3,916.25 761.87 250.09 133.03
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 -3,916.25 98.65 105.62 158.20
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 0.20 -15 -19 -3.47 18 36 77
Invested Capital Turnover		 0.00 0.00 0.00 0.00 -0.33 8.39 7.30 6.64
Increase / (Decrease) in Invested Capital		 0.00 0.20 -16 -3.21 15 21 18 41
Enterprise Value (EV)		 0.00 225 941 727 689 234 1,509 3,445
Market Capitalization		 159 159 1,227 1,043 902 305 1,630 3,557
Book Value per Share		 $0.00 ($35.28) $6.20 $5.92 $3.44 $0.94 $1.35 $1.55
Tangible Book Value per Share		 $0.00 ($35.28) $6.20 $5.92 $3.32 $0.87 $1.27 $1.43
Total Capital		 0.00 101 271 370 407 290 265 298
Total Debt		 0.00 0.00 0.00 72 198 202 107 109
Total Long-Term Debt		 0.00 0.00 0.00 72 198 202 107 108
Net Debt		 0.00 -101 -286 -316 -213 -71 -121 -112
Capital Expenditures (CapEx)		 0.00 0.30 0.32 1.00 0.33 0.43 0.14 0.69
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -0.03 -16 -19 -11 11 26 61
Debt-free Net Working Capital (DFNWC)		 0.00 101 270 369 400 284 255 282
Net Working Capital (NWC)		 0.00 101 270 369 400 284 255 281
Net Nonoperating Expense (NNE)		 5.44 12 40 62 100 93 50 7.58
Net Nonoperating Obligations (NNO)		 0.00 -101 -286 -316 -213 -71 -121 -112
Total Depreciation and Amortization (D&A)		 -0.01 -0.29 0.19 3.91 -1.32 -5.47 -4.30 2.57
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% -304.50% 18.42% 13.35% 16.25%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 10,840.99% 476.06% 129.65% 75.09%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 10,840.99% 476.06% 129.65% 74.82%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($3.80) ($4.18) ($5.66) $0.00 ($1.16) ($0.13)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 50.08M 49.41M 55.03M 0.00 120.96M 127.23M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($3.80) ($4.18) ($5.66) $0.00 ($1.16) ($0.13)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 50.08M 49.41M 55.03M 0.00 120.96M 127.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($3.80) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 35.67M 50.38M 61.08M 0.00 118.64M 124.03M
Normalized Net Operating Profit after Tax (NOPAT)		 -14 -30 -96 -145 -211 -169 -90 -8.56
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% -5,728.13% -283.14% -45.73% -2.28%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% -8,449.76% -434.57% -79.15% -3.98%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -18.90 -7.72 -4.73 -0.98
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -13.49 -5.68 -3.31 -0.71
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -18.92 -7.73 -4.73 -1.03
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -13.51 -5.69 -3.31 -0.77
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Arcutis Biotherapeutics

This table displays calculated financial ratios and metrics derived from Arcutis Biotherapeutics' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 124,033,382.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 124,033,382.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.09
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5,156.41% 356.81% 1,682.42% 494.57% 17.44% 427.58% 32.84% 164.13% 121.69% 81.48% 60.07%
EBITDA Growth		 65.81% 11.30% 61.33% 27.96% 0.52% 86.11% 32.54% 73.12% 129.94% 157.48% 60.71%
EBIT Growth		 66.75% 10.25% 62.25% 29.53% -2.05% 86.94% 20.96% 72.09% 130.27% 156.89% 62.57%
NOPAT Growth		 64.77% 10.60% 58.54% 24.99% -5.86% 87.52% 22.43% 70.82% 130.85% 435.12% 62.95%
Net Income Growth		 58.44% 7.96% 55.83% 26.28% 7.21% 83.72% 29.17% 69.64% 117.84% 261.24% 54.93%
EPS Growth		 61.38% 51.26% 75.57% 63.79% 54.79% 84.48% 37.50% 69.05% 118.18% 255.56% 55.00%
Operating Cash Flow Growth		 35.03% 20.86% 60.67% 32.14% 21.14% 98.67% 3.87% 100.72% 94.94% 3,600.67% 107.37%
Free Cash Flow Firm Growth		 18.26% -1.55% 47.66% 28.69% 32.18% 62.74% -13.04% 24.47% 3.34% 3.20% 35.02%
Invested Capital Growth		 282.40% 609.07% 350.38% 154.53% 54.51% 104.59% 121.70% 105.63% 150.06% 113.28% 44.97%
Revenue Q/Q Growth		 634.28% -64.51% 0.00% -37.75% 45.04% 59.45% -7.73% 23.78% 21.74% 30.52% -18.61%
EBITDA Q/Q Growth		 45.72% -68.48% 0.00% -61.98% 25.04% 76.47% -136.11% 35.23% 183.59% 18.64% -169.59%
EBIT Q/Q Growth		 46.29% -70.94% 0.00% -62.62% 22.22% 78.12% -185.63% 42.59% 184.39% 13.33% -176.10%
NOPAT Q/Q Growth		 44.72% -65.75% 0.00% -58.36% 21.99% 80.46% -221.40% 40.43% 182.47% 112.25% -135.54%
Net Income Q/Q Growth		 36.94% -48.07% 0.00% -47.91% 20.63% 74.03% -132.30% 36.61% 146.64% 134.75% -164.93%
EPS Q/Q Growth		 37.07% 20.55% 0.00% -31.25% 21.43% 72.73% -122.22% 35.00% 146.15% 133.33% -164.29%
Operating Cash Flow Q/Q Growth		 33.84% -27.87% 0.00% -42.77% 23.12% 97.84% -3,961.50% 101.07% -641.36% 1,592.87% -91.45%
Free Cash Flow Firm Q/Q Growth		 22.59% -14.31% 0.00% -28.15% 26.38% 37.20% -90.81% 14.38% 5.78% 37.11% -28.08%
Invested Capital Q/Q Growth		 82.25% -9.16% 0.00% 16.85% 10.63% 20.29% 42.57% 8.38% 34.54% 2.60% -3.10%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 96.90% 83.39% 93.43% 88.77% 87.70% 90.32% 86.59% 90.81% 91.25% 90.97% 90.72%
EBITDA Margin		 -92.70% -440.03% -58.39% -151.94% -78.53% -11.59% -29.65% -15.52% 10.66% 9.69% -8.28%
Operating Margin		 -96.84% -452.23% -63.79% -162.28% -87.29% -10.70% -37.25% -17.93% 8.59% 14.20% -8.62%
EBIT Margin		 -89.70% -432.00% -55.64% -145.34% -77.94% -10.70% -33.11% -15.36% 10.64% 9.24% -8.64%
Profit (Net Income) Margin		 -117.47% -490.05% -71.38% -169.59% -92.81% -15.12% -38.06% -19.49% 7.47% 13.43% -10.72%
Tax Burden Percent		 107.24% 100.14% 100.92% 100.00% 100.00% 40.50% 101.13% 102.20% 98.93% 97.37% 100.83%
Interest Burden Percent		 122.11% 113.28% 127.12% 116.69% 119.07% 349.03% 113.68% 124.20% 70.92% 149.26% 122.98%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.07% 2.63% 0.00%
Return on Invested Capital (ROIC)		 -756.22% -2,656.30% 0.00% 0.00% 0.00% -54.65% -148.32% -79.60% 51.35% 91.76% -39.72%
ROIC Less NNEP Spread (ROIC-NNEP)		 -743.95% -2,639.78% 0.00% 0.00% 0.00% -48.98% -142.93% -74.93% 52.33% 92.19% -34.93%
Return on Net Nonoperating Assets (RNNOA)		 723.35% 2,514.03% 0.00% 0.00% 0.00% 38.27% 113.83% 55.80% -34.83% -62.09% 21.65%
Return on Equity (ROE)		 -32.87% -142.27% 0.00% 0.00% 0.00% -16.38% -34.49% -23.80% 16.53% 29.67% -18.07%
Cash Return on Invested Capital (CROIC)		 -1,048.10% -1,074.23% -127.32% -87.17% -42.84% -402.47% -302.60% -213.78% -136.60% -87.42% -33.15%
Operating Return on Assets (OROA)		 -10.97% -65.14% 0.00% 0.00% 0.00% -6.09% -17.13% -10.15% 8.37% 8.89% -8.93%
Return on Assets (ROA)		 -14.37% -73.89% 0.00% 0.00% 0.00% -8.61% -19.69% -12.88% 5.87% 12.92% -11.08%
Return on Common Equity (ROCE)		 -32.87% -142.27% 0.00% 0.00% 0.00% -16.38% -34.49% -23.80% 16.53% 29.67% -18.07%
Return on Equity Simple (ROE_SIMPLE)		 -573.40% 0.00% 0.00% 0.00% 0.00% 0.00% -90.93% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -26 -43 -22 -35 -27 -5.34 -17 -10 8.43 18 -6.36
NOPAT Margin		 -67.79% -316.56% -44.66% -113.60% -61.10% -7.49% -26.08% -12.55% 8.50% 13.82% -6.04%
Net Nonoperating Expense Percent (NNEP)		 -12.27% -16.52% -7.88% -15.09% -18.45% -5.66% -5.39% -4.67% -0.98% -0.44% -4.79%
Return On Investment Capital (ROIC_SIMPLE)		 - -14.74% - - - -2.02% -6.86% -4.14% 3.16% 6.00% -2.13%
Cost of Revenue to Revenue		 3.10% 16.61% 6.57% 11.23% 12.30% 9.68% 13.41% 9.19% 8.75% 9.03% 9.28%
SG&A Expenses to Revenue		 124.89% 359.86% 110.54% 188.52% 131.42% 80.73% 97.20% 84.87% 62.90% 60.98% 70.28%
R&D to Revenue		 68.84% 175.77% 46.68% 62.54% 43.57% 20.29% 26.64% 23.87% 19.76% 15.79% 29.06%
Operating Expenses to Revenue		 193.74% 535.63% 157.23% 251.06% 174.99% 101.02% 123.84% 108.73% 82.65% 76.78% 99.34%
Earnings before Interest and Taxes (EBIT)		 -34 -58 -28 -45 -35 -7.63 -22 -13 11 12 -9.11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -35 -60 -29 -47 -35 -8.27 -20 -13 11 13 -8.73
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 3.44 4.16 5.78 6.94 10.35 13.01 12.03 14.30 18.77 15.41
Price to Tangible Book Value (P/TBV)		 0.00 3.71 4.28 5.97 7.40 11.01 14.71 13.58 15.84 20.37 16.66
Price to Revenue (P/Rev)		 0.00 5.11 0.00 0.00 0.00 8.30 8.72 6.34 7.11 9.46 7.03
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 13.23 31.54 33.75 31.94 41.72 34.21 28.41 28.96 44.65 37.55
Enterprise Value to Revenue (EV/Rev)		 0.00 3.92 0.00 0.00 0.00 7.68 8.29 6.03 6.85 9.16 6.75
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 656.53
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 815.38
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,248.21
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 104.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 4.30 2.28 0.90 1.09 1.31 0.68 0.75 0.78 0.69 0.58 0.58
Long-Term Debt to Equity		 4.30 2.28 0.90 1.09 0.67 0.68 0.75 0.77 0.68 0.57 0.54
Financial Leverage		 -0.97 -0.95 -0.92 -0.86 -0.76 -0.78 -0.80 -0.74 -0.67 -0.67 -0.62
Leverage Ratio		 2.53 2.65 2.35 2.87 3.59 2.80 2.24 2.45 2.57 2.25 2.42
Compound Leverage Factor		 3.08 3.00 2.99 3.35 4.28 9.79 2.54 3.04 1.82 3.36 2.98
Debt to Total Capital		 81.12% 69.47% 47.41% 52.23% 56.64% 40.49% 43.00% 43.74% 40.70% 36.51% 36.59%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 27.55% 0.00% 0.00% 0.40% 0.38% 0.34% 2.66%
Long-Term Debt to Total Capital		 81.12% 69.47% 47.41% 52.23% 29.09% 40.49% 43.00% 43.34% 40.33% 36.17% 33.93%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 18.88% 30.53% 52.59% 47.77% 43.36% 59.51% 57.00% 56.26% 59.30% 63.49% 63.41%
Debt to EBITDA		 -0.83 -0.86 0.00 0.00 0.00 -0.81 -0.88 -1.27 -2.93 -11.83 25.59
Net Debt to EBITDA		 0.11 0.30 0.00 0.00 0.00 0.91 0.75 0.98 2.24 12.20 -26.87
Long-Term Debt to EBITDA		 -0.83 -0.86 0.00 0.00 0.00 -0.81 -0.88 -1.26 -2.90 -11.72 23.73
Debt to NOPAT		 -1.15 -1.20 0.00 0.00 0.00 -1.19 -1.27 -1.80 -4.05 -12.73 48.65
Net Debt to NOPAT		 0.16 0.42 0.00 0.00 0.00 1.35 1.07 1.38 3.10 13.12 -51.08
Long-Term Debt to NOPAT		 -1.15 -1.20 0.00 0.00 0.00 -1.19 -1.27 -1.78 -4.02 -12.61 45.12
Altman Z-Score		 0.00 -2.70 0.10 -0.17 -0.81 1.98 2.08 1.49 3.77 6.83 4.54
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.72 7.08 9.89 8.46 2.46 4.15 3.55 3.20 3.50 3.17 2.68
Quick Ratio		 5.89 6.38 9.32 7.90 2.27 3.72 3.11 2.86 3.07 2.83 2.26
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -56 -64 -40 -52 -38 -24 -45 -39 -37 -23 -30
Operating Cash Flow to CapEx		 -68,725.00% -937,400.00% 0.00% 0.00% -24,257.34% 0.00% -4,996.71% 415.38% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -7.40 -8.24 -5.38 -6.89 -5.71 -4.29 -15.25 -12.86 -11.95 -7.69 -6.77
Operating Cash Flow to Interest Expense		 -5.82 -7.25 -4.23 -6.03 -5.21 -0.13 -10.19 0.11 -0.57 8.73 0.51
Operating Cash Flow Less CapEx to Interest Expense		 -5.83 -7.25 -4.23 -6.03 -5.24 -0.13 -10.39 0.08 -0.57 8.73 0.51
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.15 0.00 0.00 0.00 0.57 0.52 0.66 0.79 0.96 1.03
Accounts Receivable Turnover		 4.49 3.48 0.00 0.00 0.00 3.98 3.47 3.51 3.63 3.43 3.62
Inventory Turnover		 0.35 0.48 0.00 0.00 0.00 1.38 1.65 1.90 1.75 1.98 1.39
Fixed Asset Turnover		 26.70 34.86 0.00 0.00 0.00 152.36 148.56 192.24 264.83 360.91 327.78
Accounts Payable Turnover		 0.30 0.48 0.00 0.00 0.00 1.46 1.32 2.50 2.54 2.74 1.76
Days Sales Outstanding (DSO)		 81.30 104.91 0.00 0.00 0.00 91.81 105.11 103.97 100.59 106.42 100.90
Days Inventory Outstanding (DIO)		 1,030.73 755.62 0.00 0.00 0.00 263.90 220.62 191.86 208.36 184.81 261.78
Days Payable Outstanding (DPO)		 1,235.81 761.87 0.00 0.00 0.00 250.09 277.04 146.26 143.66 133.03 207.59
Cash Conversion Cycle (CCC)		 -123.77 98.65 0.00 0.00 0.00 105.62 48.68 149.58 165.29 158.20 155.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 19 18 23 27 30 36 52 56 75 77 75
Invested Capital Turnover		 11.16 8.39 0.00 0.00 0.00 7.30 5.69 6.34 6.04 6.64 6.58
Increase / (Decrease) in Invested Capital		 30 21 18 17 11 18 28 29 45 41 23
Enterprise Value (EV)		 0.00 234 734 917 961 1,509 1,764 1,588 2,177 3,445 2,807
Market Capitalization		 0.00 305 935 1,077 1,087 1,630 1,856 1,671 2,260 3,557 2,922
Book Value per Share		 $0.76 $0.94 $2.03 $1.61 $1.34 $1.35 $1.20 $1.17 $1.32 $1.55 $1.53
Tangible Book Value per Share		 $0.65 $0.87 $1.97 $1.56 $1.26 $1.27 $1.06 $1.03 $1.19 $1.43 $1.41
Total Capital		 248 290 428 390 361 265 250 247 267 298 299
Total Debt		 201 202 203 204 205 107 108 108 108 109 109
Total Long-Term Debt		 201 202 203 204 105 107 108 107 107 108 101
Net Debt		 -27 -71 -202 -159 -127 -121 -91 -83 -83 -112 -115
Capital Expenditures (CapEx)		 0.06 0.01 0.00 0.00 0.14 0.00 0.61 0.08 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 12 11 16 20 20 26 34 39 59 61 58
Debt-free Net Working Capital (DFNWC)		 240 284 421 383 351 255 233 230 250 282 283
Net Working Capital (NWC)		 240 284 421 383 251 255 233 229 249 281 275
Net Nonoperating Expense (NNE)		 19 23 13 17 14 5.45 7.89 5.66 1.02 0.51 4.93
Net Nonoperating Obligations (NNO)		 -27 -71 -202 -159 -127 -121 -91 -83 -83 -112 -115
Total Depreciation and Amortization (D&A)		 -1.15 -1.09 -1.37 -2.04 -0.26 -0.64 2.27 -0.13 0.01 0.57 0.38
Debt-free, Cash-free Net Working Capital to Revenue		 23.70% 18.42% 0.00% 0.00% 0.00% 13.35% 15.90% 14.69% 18.58% 16.25% 14.07%
Debt-free Net Working Capital to Revenue		 488.69% 476.06% 0.00% 0.00% 0.00% 129.65% 109.27% 87.24% 78.78% 75.09% 68.04%
Net Working Capital to Revenue		 488.69% 476.06% 0.00% 0.00% 0.00% 129.65% 109.27% 86.86% 78.46% 74.82% 66.13%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.73) ($0.58) ($0.32) ($0.42) ($0.33) ($0.09) ($0.20) ($0.13) $0.06 $0.14 ($0.09)
Adjusted Weighted Average Basic Shares Outstanding		 61.73M 69.31M 111.05M 123.48M 124.30M 120.96M 126.04M 127.00M 127.62M 127.23M 129.37M
Adjusted Diluted Earnings per Share		 ($0.73) ($0.58) ($0.32) ($0.42) ($0.33) ($0.09) ($0.20) ($0.13) $0.06 $0.14 ($0.09)
Adjusted Weighted Average Diluted Shares Outstanding		 61.73M 69.31M 111.05M 123.48M 124.30M 120.96M 126.04M 127.00M 132.88M 127.23M 129.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 94.38M 0.00 115.76M 116.89M 117.04M 118.64M 119.20M 119.91M 122.49M 124.03M 125.08M
Normalized Net Operating Profit after Tax (NOPAT)		 -26 -43 -22 -35 -27 -5.34 -17 -10 8.43 18 -6.36
Normalized NOPAT Margin		 -67.79% -316.56% -44.66% -113.60% -61.10% -7.49% -26.08% -12.55% 8.50% 13.82% -6.04%
Pre Tax Income Margin		 -109.53% -489.38% -70.73% -169.59% -92.81% -37.33% -37.63% -19.07% 7.55% 13.80% -10.63%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -4.52 -7.53 -3.69 -5.99 -5.24 -1.37 -7.31 -4.13 3.44 3.99 -2.09
NOPAT to Interest Expense		 -3.42 -5.52 -2.96 -4.68 -4.11 -0.96 -5.76 -3.38 2.75 5.97 -1.46
EBIT Less CapEx to Interest Expense		 -4.53 -7.53 -3.69 -5.99 -5.26 -1.37 -7.51 -4.16 3.44 3.99 -2.09
NOPAT Less CapEx to Interest Expense		 -3.43 -5.52 -2.96 -4.68 -4.13 -0.96 -5.96 -3.40 2.75 5.97 -1.46
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Arcutis Biotherapeutics (NASDAQ: ARQT) showed a major turnaround in Q1 2026, but the company is still carrying a large balance sheet and remains sensitive to cash flow swings. Revenue held above $100 million for the quarter, operating cash flow turned positive, and the company continued to expand its cash and investment position. At the same time, ARQT remained unprofitable, with operating costs still exceeding gross profit and debt staying elevated.

  • Revenue remained strong at $105.4 million in Q1 2026, up from $99.2 million in Q3 2025 and well above the sub-$70 million level seen in early 2025.
  • Gross profit was healthy at $95.6 million, with gross margin staying solid as cost of revenue was only about $9.8 million.
  • Operating cash flow turned positive at $2.2 million, a sharp improvement from the negative operating cash flow seen in several earlier quarters.
  • Cash, equivalents, restricted cash, and short-term investments totaled about $224.3 million at quarter-end, giving the company a meaningful liquidity cushion.
  • Inventory rose to $37.4 million and accounts receivable to $144.4 million, which is consistent with higher revenue volume and commercial activity.
  • Net income was still negative at $11.3 million, showing the company has not yet reached sustained profitability.
  • Operating expenses remained high at $104.7 million, led by $74.1 million in SG&A and $30.6 million in R&D.
  • Long-term debt stayed elevated at $101.5 million, with short-term debt of $8.0 million and total liabilities of $270.4 million.
  • Operating income was a loss of $9.1 million, meaning core operations still did not fully cover overhead.
  • Cash and equivalents declined to $34.8 million from $47.1 million in Q3 2025, even though the broader investment portfolio remained substantial.

Trend over the last several years: ARQT has moved from a much smaller revenue base in 2022 and early 2023 toward a much larger commercial business by 2025 and 2026. That growth has helped gross profit and cash generation improve, but profitability has been inconsistent because SG&A and R&D spending remain large. The most encouraging change is the improvement in operating cash flow and the large liquidity base, which gives the company room to keep investing in growth. The main risks are the still-meaningful debt load and the fact that earnings remain volatile quarter to quarter.

06/17/26 11:41 AM ETAI Generated. May Contain Errors.

Arcutis Biotherapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Arcutis Biotherapeutics' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Arcutis Biotherapeutics' net income appears to be on an upward trend, with a most recent value of -$16.14 million in 2025, falling from -$19.26 million in 2018. The previous period was -$140.04 million in 2024. See where experts think Arcutis Biotherapeutics is headed by visiting Arcutis Biotherapeutics' forecast page.

Arcutis Biotherapeutics' total operating income in 2025 was -$12.23 million, based on the following breakdown:
  • Total Gross Profit: $339.38 million
  • Total Operating Expenses: $351.60 million

Over the last 7 years, Arcutis Biotherapeutics' total revenue changed from $0.00 in 2018 to $376.07 million in 2025, a change of 37,607,200,000.0%.

Arcutis Biotherapeutics' total liabilities were at $243.49 million at the end of 2025, a 27.3% increase from 2024, and a 4,287.3% increase since 2019.

In the past 6 years, Arcutis Biotherapeutics' cash and equivalents has ranged from $42.91 million in 2025 to $96.45 million in 2021, and is currently $42.91 million as of their latest financial filing in 2025.

Over the last 7 years, Arcutis Biotherapeutics' book value per share changed from 0.00 in 2018 to 1.55 in 2025, a change of 154.7%.


Related Companies

Financial statements for NASDAQ:ARQT last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
The 1934 playbook
In 1934, a legal government maneuver transferred billions in wealth overnight. Most Americans never saw it com...
American Alternative | Sponsoredtc pixel
Trump's gold order: the announcement they won't put on the front page
On August 15, 1971, Nixon interrupted prime-time television and ended the gold standard in 15 minutes - no deb...
Reagan Gold Group | Sponsoredtc pixel
Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
InvestorPlace | Sponsoredtc pixel
Is SpaceX really worth 1.78 Trillion?
With SpaceX approaching a near-$2 trillion valuation, most investors are focused on the IPO itself - but analy...
InvestPub | Sponsoredtc pixel
Trump Takes Emergency Action - Plus Elon Musk's New Venture
Elon Musk has quietly launched a new venture - one that has nothing to do with rockets, EVs, or Neuralink. Tru...
Altimetry | Sponsoredtc pixel
CODE RED: AI Meltdown Imminent?
After correctly predicting the 2008 and 2020 stock market meltdowns, I believe this AI company is about to tri...
Paradigm Press | Sponsoredtc pixel
The roadshow starts Monday. This stock isn't ready.
The SpaceX roadshow kicks off June 8. Goldman Sachs, the lead underwriter, will present the full S-1 to the wo...
Behind the Markets | Sponsoredtc pixel
SpaceX is chump change compared to Elon’s $20T ‘iPhone’
Early Apple investors saw peak gains as high as 7,537% after the iPhone launched. Now, multiple insider source...
StocksToTrade | Sponsoredtc pixel