Arcutis Biotherapeutics, Inc. (ARQT) Stock Analysis
Healthcare · Biotechnology · NasdaqGS
Arcutis Biotherapeutics, Inc. (ARQT) posted $376.07M in revenue for fiscal 2025 (up 91.3% year over year), with a net loss of $16.14M, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Arcutis Biotherapeutics, Inc.
Arcutis Biotherapeutics, Inc. has grown revenue from $0 to $376.07M over the last 8 fiscal years. The most recent year was up 91.3%.
Net margin sits at -4.3%, up 67 points year over year on a 90.2% gross margin. It carries about $108.96M of total debt.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Arcutis Biotherapeutics, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Arcutis Biotherapeutics, Inc. revenue & earnings — last 8 fiscal years
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $3.69M | $59.61M | $196.54M | $376.07M |
| Gross profit | — | — | — | — | $2.93M | $54.62M | $177.41M | $339.38M |
| Net income | $-19.25M | $-42.00M | $-135.68M | $-206.36M | $-311.46M | $-262.14M | $-140.04M | $-16.14M |
| Net margin | — | — | — | — | -8449.8% | -439.8% | -71.3% | -4.3% |
Source: Arcutis Biotherapeutics, Inc. SEC filings (10-K).
Arcutis Biotherapeutics, Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 145.4% over 4 years (50.3M → 123.3M) — existing holders' stakes are being diluted.
- Debt with negative operating cash flowCarries $110M of debt while last year's operating cash flow was negative ($-5.6M).
- Currently unprofitableThe latest fiscal year was a net loss (net margin -4.3%).
Explore 8 years of Arcutis Biotherapeutics, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Arcutis Biotherapeutics, Inc. financial history by metric
About Arcutis Biotherapeutics, Inc.
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.
Arcutis Biotherapeutics, Inc. — frequently asked questions
What is Arcutis Biotherapeutics, Inc.'s revenue?
Arcutis Biotherapeutics, Inc. (ARQT) reported revenue of $376.07M for fiscal year 2025, up 91.3% from the prior year, according to its SEC filings.
Is Arcutis Biotherapeutics, Inc. profitable?
No — ARQT reported a net loss of $-16.14M in fiscal 2025.
What is ARQT's P/E ratio?
Arcutis Biotherapeutics, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How much debt does Arcutis Biotherapeutics, Inc. have?
As of fiscal year 2025, ARQT carried roughly $108.96M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Arcutis Biotherapeutics, Inc.'s gross margin?
ARQT's gross margin was 90.2% in fiscal 2025 — gross profit of $339.38M on revenue of $376.07M.
What is Arcutis Biotherapeutics, Inc.'s market cap?
Arcutis Biotherapeutics, Inc. (ARQT) has a market capitalization of about $3.05B, based on the latest data in our nightly-refreshed cache.
When does Arcutis Biotherapeutics, Inc.'s fiscal year end?
ARQT's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Arcutis Biotherapeutics, Inc.'s official SEC filings (10-K and 10-Q), covering 8 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.