Arcutis Biotherapeutics, Inc. (ARQT) Income Statement
ARQT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsARQT revenue and net income
Where ARQT's revenue goes
2025Each bar shows an amount and its share of revenue. ARQT kept −4.3% of revenue as net income.
ARQT profit margins
ARQT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +91.3% | +367.3% | — | — |
| Gross profit | +91.3% | +387.3% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ARQT quarterly EPS vs estimates
Arcutis Biotherapeutics beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 27, 2026 (estimate $0.17).
ARQT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $376.1M | $196.5M | $59.6M | $3.7M | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $36.7M | $19.1M | $5.0M | $754,000 | $763,000 | $455,000 | $195,000 | — | — |
| Gross profit | $339.4M | $177.4M | $54.6M | $2.9M | −$763,000 | −$455,000 | −$195,000 | — | — |
| Research & development | $77.1M | $76.4M | $110.6M | $182.4M | $145.6M | $115.3M | $36.5M | $17.9M | $3.4M |
| Sales, general & admin | $274.6M | $229.4M | $173.5M | $122.1M | $61.0M | $21.3M | $6.6M | $1.8M | $695,000 |
| Total operating expenses | $351.6M | $305.8M | $295.7M | $304.6M | $206.5M | $136.2M | $42.9M | $19.7M | $4.1M |
| Operating income | −$12.2M | −$128.4M | −$241.1M | −$301.6M | −$206.5M | −$136.6M | −$43.1M | −$19.7M | −$4.1M |
| Interest income | $8.9M | $16.1M | $12.5M | — | — | — | — | — | — |
| Interest expense | $12.1M | $27.2M | $29.7M | $15.7M | $454,000 | $0 | $0 | $0 | $0 |
| Income before taxes | −$15.0M | −$139.4M | −$259.0M | −$311.5M | −$206.4M | −$135.7M | −$42.0M | −$19.3M | −$5.0M |
| Income taxes | $1.2M | $647,000 | $3.1M | $9.8M | −$454,000 | −$84,297 | $23,140 | −$480,000 | −$4.1M |
| Net income | −$16.1M | −$140.0M | −$262.1M | −$311.5M | −$205.9M | −$135.7M | −$42.0M | −$19.3M | −$5.0M |
| EBITDA | $1.8M | −$109.6M | −$228.6M | −$294.9M | −$206.1M | −$135.2M | −$41.8M | −$19.3M | −$4.1M |
| EPS (diluted) | −$0.14 | −$1.16 | −$3.92 | −$5.65 | −$4.16 | −$3.89 | −$13.95 | −$0.53 | −$4.98 |
| Gross margin | 90.2% | 90.3% | 91.6% | 79.5% | — | — | — | — | — |
| Operating margin | −3.3% | −65.3% | −404.5% | −8,183.0% | — | — | — | — | — |
| Net margin | −4.3% | −71.3% | −439.8% | −8,449.8% | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $129.9M | $105.4M | $129.5M | $99.2M | $81.5M | $65.8M | $71.4M | $44.8M | $30.9M | $49.6M | $13.5M | $38.1M |
| Cost of revenue | $10.9M | $9.8M | $11.7M | $8.7M | $7.5M | $8.8M | $6.9M | $5.5M | $3.5M | $3.3M | $2.2M | $1.2M |
| Gross profit | $118.9M | $95.6M | $117.8M | $90.5M | $74.0M | $57.0M | $64.5M | $39.3M | $27.4M | $46.3M | $11.3M | $36.9M |
| Research & development | $20.4M | $30.6M | $20.5M | $19.6M | $19.5M | $17.5M | $14.5M | $19.5M | $19.3M | $23.1M | $23.8M | $26.2M |
| Sales, general & admin | $82.1M | $74.1M | $79.0M | $62.4M | $69.2M | $64.0M | $57.6M | $58.8M | $58.2M | $54.8M | $136.5M | $47.6M |
| Total operating expenses | $102.5M | $104.7M | $99.4M | $82.0M | $88.6M | $81.5M | $72.1M | $78.3M | $77.5M | $77.9M | $72.4M | $73.8M |
| Operating income | $16.4M | −$9.1M | $18.4M | $8.5M | −$14.6M | −$24.5M | −$7.6M | −$39.1M | −$50.1M | −$31.6M | −$61.2M | −$36.9M |
| Interest income | $2.3M | $2.3M | — | — | $2.1M | $2.5M | — | — | — | — | — | — |
| Interest expense | $3.4M | $4.4M | $3.0M | $3.1M | $3.0M | $3.0M | $5.6M | $6.7M | $7.5M | $7.5M | $7.8M | $7.6M |
| Income before taxes | $15.1M | −$11.2M | $17.9M | $7.5M | −$15.5M | −$24.8M | −$10.5M | −$41.5M | −$52.3M | −$35.1M | −$66.3M | −$41.7M |
| Income taxes | $136,000 | $93,000 | $470,000 | $80,000 | $342,000 | $279,000 | $323,000 | — | $324,000 | $324,000 | $25,000 | $3.0M |
| Net income | $15.0M | −$11.3M | $17.4M | $7.4M | −$15.9M | −$25.1M | −$10.8M | −$41.5M | −$52.3M | −$35.4M | −$66.3M | −$44.8M |
| EBITDA | $17.1M | −$6.3M | $21.4M | $11.1M | −$12.0M | −$18.7M | −$4.5M | −$33.5M | −$44.5M | −$27.2M | −$58.1M | −$33.8M |
| EPS (diluted) | $0.11 | −$0.09 | $0.13 | $0.06 | −$0.13 | −$0.20 | −$0.09 | −$0.33 | −$0.42 | −$0.32 | −$0.72 | −$0.73 |
| Gross margin | 91.6% | 90.7% | 91.0% | 91.2% | 90.8% | 86.6% | 90.3% | 87.7% | 88.8% | 93.4% | 83.4% | 96.9% |
| Operating margin | 12.7% | −8.6% | 14.2% | 8.6% | −17.9% | −37.3% | −10.7% | −87.3% | −162.3% | −63.8% | −452.2% | −96.8% |
| Net margin | 11.6% | −10.7% | 13.4% | 7.5% | −19.5% | −38.1% | −15.1% | −92.8% | −169.6% | −71.4% | −490.0% | −117.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ARQT's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ARQT financial results
In fiscal year 2025 (ended December 31, 2025), Arcutis Biotherapeutics reported revenue of $376.1 million, up 91.3% from the year before. It had a net loss of $16.1 million, a net profit margin of −4.3%. Diluted earnings per share came to −$0.14.
See the ARQT stock overview for the latest quote and news, or the ARQT chart for price history and technical indicators.
ARQT income statement FAQ
What is Arcutis Biotherapeutics's annual revenue?
Arcutis Biotherapeutics reported total revenue of $376.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 91.3% from $196.5 million the previous year.
Is Arcutis Biotherapeutics profitable?
No. Arcutis Biotherapeutics reported a net loss of $16.1 million in fiscal 2025, a net profit margin of −4.3%; its operating margin was −3.3%.
What is Arcutis Biotherapeutics's gross margin?
Arcutis Biotherapeutics's gross margin was 90.2% in fiscal 2025: for every $100 of revenue, Arcutis Biotherapeutics kept $90 after the direct cost of its products and services.
How much does Arcutis Biotherapeutics spend on research and development?
Arcutis Biotherapeutics spent $77.1 million on research and development in fiscal 2025, 20.5% of revenue.
What are Arcutis Biotherapeutics's earnings per share?
Arcutis Biotherapeutics earned $-0.14 per diluted share in fiscal 2025, compared with $-1.16 a year earlier.
When will Arcutis Biotherapeutics report its next earnings?
Arcutis Biotherapeutics is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Arcutis Biotherapeutics's fiscal year end?
Arcutis Biotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.