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Arcutis Biotherapeutics, Inc., a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. The company's lead product is ZORYVE, a topical roflumilast cream for the treatment of plaque psoriasis and atopic dermatitis. It also develops ZORYVE foam seborrheic dermatitis, and scalp and body psoriasis treatment; ARQ-234, a fusion protein that is a potent and highly selective checkpoint agonist of the CD200 receptor. 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $376M | $2M | $-16M | $-16M | -8.5% | 91.3% | - |
| 2024 | $197M | $-110M | $-140M | $-117M | -88.9% | 229.7% | - |
| 2023 | $60M | $-229M | $-262M | $-247M | -295.6% | 1517.1% | - |
| 2022 | $4M | $-295M | $-311M | $-281M | -148.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3.69 | 59.61 | 196.54 | 376.07 |
| Cost Of Revenue | 0.75 | 4.99 | 19.13 | 36.70 |
| Gross Profit | 2.93 | 54.62 | 177.41 | 339.38 |
| Operating Expense | 304.56 | 295.72 | 305.81 | 351.60 |
| Operating Income | -301.63 | -241.10 | -128.40 | -12.23 |
| EBITDA | -294.87 | -228.56 | -110.27 | 1.78 |
| EBIT | -295.81 | -229.31 | -112.22 | -2.89 |
| Pretax Income | -311.46 | -259.03 | -139.39 | -14.97 |
| Tax Provision | 0 | 3.11 | 0.65 | 1.17 |
| Net Income | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income Common Stockholders | -311.46 | -262.14 | -140.04 | -16.14 |
| Total Expenses | 305.31 | 300.71 | 324.94 | 388.30 |
| Interest Expense | 15.65 | 29.71 | 27.17 | 12.08 |
| Interest Income | 0 | 12.52 | 16.13 | 8.90 |
| Research And Development | 182.44 | 110.58 | 76.42 | 77.05 |
| Selling General And Administration | 122.12 | 185.15 | 229.39 | 274.55 |
| Normalized EBITDA | -294.87 | -228.56 | -110.27 | 1.78 |
| Normalized Income | -311.46 | -262.14 | -140.04 | -16.14 |
| Basic EPS | -5.66 | -3.78 | -1.16 | -0.13 |
| Diluted EPS | -5.66 | -3.78 | -1.16 | -0.13 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0.21 | 0.21 | 0.21 |
| Net Income From Continuing Operation Net Minority Interest | -311.46 | -262.14 | -140.04 | -16.14 |
| Reconciled Depreciation | 0.93 | 0.75 | 1.96 | 4.67 |
| Reconciled Cost Of Revenue | 0.75 | 4.99 | 19.13 | 36.70 |
| Net Interest Income | -15.65 | -17.20 | -11.04 | -3.19 |
| Net Income From Continuing And Discontinued Operation | -311.46 | -262.14 | -140.04 | -16.14 |
| Total Operating Income As Reported | -301.63 | -241.10 | -128.40 | -12.23 |
| Diluted Average Shares | 55.03 | 69.31 | 120.96 | 127.23 |
| Basic Average Shares | 55.03 | 69.31 | 120.96 | 127.23 |
| Diluted NI Availto Com Stockholders | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income Including Noncontrolling Interests | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income Continuous Operations | -311.46 | -262.14 | -140.04 | -16.14 |
| Other Income Expense | 5.82 | -0.73 | 0.05 | 0.44 |
| Other Non Operating Income Expenses | 5.82 | -0.73 | 0.05 | 0.44 |
| Net Non Operating Interest Income Expense | -15.65 | -17.20 | -11.04 | -3.19 |
| Interest Expense Non Operating | 15.65 | 29.71 | 27.17 | 12.08 |
| Interest Income Non Operating | 0 | 12.52 | 16.13 | 8.90 |
| General And Administrative Expense | 0 | 0 | 0 | 0 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Operating Revenue | 3.69 | 29.19 | 166.54 | 372.07 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arcutis Biotherapeutics, Inc.this co. | ARQT | $2.8B | - | 14.56 | -8.5% | -352.93 |
| Denali Therapeutics Inc. | DNLI | $3.0B | - | 2.87 | -50.6% | -3.93 |
| Alumis Inc. | ALMS | $2.9B | - | 7.95 | -80.8% | -6.02 |
| LifeStance Health Group, Inc. | LFST | $2.9B | 371.50 | 1.90 | 0.6% | 39.06 |
| Dyne Therapeutics, Inc. | DYN | $2.9B |
| - |
| 2.95 |
| -45.9% |
| -4.14 |
| Erasca, Inc. | ERAS | $2.8B | - | 7.96 | -38.3% | -20.28 |
| Haemonetics Corporation | HAE | $2.7B | 16.26 | 3.03 | 20.4% | 9.88 |
| Soleno Therapeutics, Inc. | SLNO | $2.7B | 135.33 | 6.13 | 4.6% | 145.68 |
| Kodiak Sciences Inc. | KOD | $2.7B | - | 17.11 | -146.1% | -11.78 |
| Peer Median | - | 135.33 | 4.58 | -42.1% | -4.04 | |