Arcutis Biotherapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $376.1M | $196.5M | $59.6M | $3.7M | $0 |
| Cost of revenue | $36.7M | $19.1M | $5.0M | $754,000 | $0 |
| Selling, general & administrative | $274.6M | $229.4M | $185.1M | $122.1M | $61.0M |
| Research and development | $77.1M | $76.4M | $110.6M | $182.4M | $145.6M |
| Operating expenses | — | — | — | $305.3M | $206.5M |
| Operating income | -$12.2M | -$128.4M | -$241.1M | -$301.6M | -$206.5M |
| Interest expense | $12.1M | $27.2M | $29.7M | $15.7M | $0 |
| Income tax expense | $1.2M | $647,000 | $3.1M | $0 | $0 |
| Net income | -$16.1M | -$140.0M | -$262.1M | -$311.5M | -$206.4M |
| Balance Sheet | |||||
| Cash and equivalents | $42.9M | $71.3M | $88.4M | $53.6M | $96.4M |
| Current assets | $411.2M | $335.8M | $330.4M | $437.4M | $402.8M |
| Total assets | $433.0M | $348.9M | $341.4M | $449.3M | $408.2M |
| Current liabilities | $129.8M | $81.0M | $46.7M | $37.8M | $33.3M |
| Total liabilities | $243.5M | $191.3M | $252.7M | $239.7M | $110.5M |
| Total debt | $100.0M | $100.0M | $200.0M | $200.0M | $75.0M |
| Stockholders' equity | $189.5M | $157.5M | $88.7M | $209.6M | $297.7M |
| Cash Flow Statement | |||||
| Cash from operations | -$5.6M | -$112.2M | -$247.1M | -$257.7M | -$174.6M |
| Depreciation and amortization | $700,000 | $600,000 | $800,000 | $622,000 | $454,000 |
| Stock-based compensation | $40.4M | $41.7M | $38.8M | $32.7M | $23.9M |
| Capital expenditure | $686,000 | $143,000 | $428,000 | $333,000 | $995,000 |
| Free cash flow | -$6.3M | -$112.3M | -$247.5M | -$258.0M | -$175.6M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 125.1M · Free float 79.1%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.