Loading…
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% | -88.5% |
| 2024 | $197M | $-110M | $-140M | $-117M | -88.9% | 229.7% | -46.6% |
| 2023 | $60M | $-229M | $-262M | $-247M | -295.6% | 1517.1% | -15.8% |
| 2022 | $4M | $-295M | $-311M | $-281M | -148.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3.69 | 59.61 | 196.54 | 376.07 |
| Operating Revenue | - | 3.69 | 29.19 | 166.54 | 372.07 |
| 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 |
| Research And Development | - | 182.44 | 110.58 | 76.42 | 77.05 |
| Selling General And Administration | - | 122.12 | 185.14 | 229.39 | 274.55 |
| Total Expenses | - | 305.31 | 300.71 | 324.94 | 388.30 |
| Operating Income | - | -301.63 | -241.10 | -128.40 | -12.23 |
| Total Operating Income As Reported | - | -301.63 | -241.10 | -128.40 | -12.23 |
| EBITDA | - | -294.87 | -228.56 | -110.26 | 1.78 |
| Normalized EBITDA | - | -294.87 | -228.56 | -110.26 | 1.78 |
| EBIT | - | -295.81 | -229.32 | -112.22 | -2.89 |
| Interest Income | - | - | 12.52 | 16.13 | 8.90 |
| Interest Expense | - | 15.65 | 29.71 | 27.17 | 12.08 |
| Net Interest Income | - | -15.65 | -17.20 | -11.04 | -3.19 |
| Other Non Operating Income Expenses | - | 5.82 | -0.73 | 0.05 | 0.44 |
| Other Income Expense | - | 5.82 | -0.73 | 0.05 | 0.44 |
| Interest Income Non Operating | - | - | 12.52 | 16.13 | 8.90 |
| Interest Expense Non Operating | - | 15.65 | 29.71 | 27.17 | 12.08 |
| Net Non Operating Interest Income Expense | - | -15.65 | -17.20 | -11.04 | -3.19 |
| Pretax Income | - | -311.46 | -259.03 | -139.39 | -14.97 |
| Tax Provision | - | 0 | 3.11 | 0.65 | 1.17 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income From Continuing And Discontinued Operation | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income From Continuing Operation Net Minority Interest | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income Common Stockholders | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Net Income Including Noncontrolling Interests | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Normalized Income | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Diluted NI Availto Com Stockholders | - | -311.46 | -262.14 | -140.04 | -16.14 |
| Basic Average Shares | - | 55.03 | 69.31 | 120.96 | 127.23 |
| Diluted Average Shares | - | 55.03 | 69.31 | 120.96 | 127.23 |
| Reconciled Depreciation | - | 0.93 | 0.75 | 1.96 | 4.67 |
| Reconciled Cost Of Revenue | - | 0.75 | 4.99 | 19.13 | 36.70 |
| General And Administrative Expense | 60.97 | - | - | - | - |
| Other Gand A | 60.97 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arcutis Biotherapeutics, Inc.this co. | ARQT | $2.7B | -170.10 | 14.49 | -8.5% | 1582.53 |
| Adaptive Biotechnologies Corporation | ADPT | $2.9B | - | 13.23 | -27.2% | - |
| GRAIL, Inc. | GRAL | $2.9B | -6.99 | 1.11 | -15.8% | -7.04 |
| Brookdale Senior Living Inc. | BKD | $2.8B | -10.81 | -63.45 | 587.0% | 23.48 |
| Soleno Therapeutics, Inc. | SLNO |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $2.8B |
| 132.26 |
| 6.14 |
| 4.6% |
| 96.72 |
| Disc Medicine, Inc. | IRON | $2.7B | -12.80 | 3.67 | -28.7% | -12.77 |
| Definium Therapeutics, Inc. | DFTX | $2.7B | -14.59 | 8.07 | -55.3% | -13.82 |
| Alumis Inc. | ALMS | $2.6B | -10.68 | 8.63 | -80.8% | -5.66 |
| Tarsus Pharmaceuticals, Inc. | TARS | $2.6B | -39.09 | 7.56 | -19.3% | -45.85 |
| Peer Median | - | -10.81 | 6.85 | -23.3% | -7.04 | |