ARROWHEAD PHARMACEUTICALS, INC.
Financial highlights
| Metric | FY 09/30/25 | FY 09/30/24 | FY 09/30/23 | FY 09/30/22 | FY 09/30/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $829.4M | $3.6M | $240.7M | $243.2M | $138.3M |
| Research and development | $607.2M | $505.9M | $353.2M | $297.3M | $206.3M |
| Operating expenses | $731.1M | $604.6M | $445.7M | $421.7M | $287.3M |
| Operating income | $98.3M | -$601.1M | -$205.0M | -$178.5M | -$149.0M |
| Interest expense | $89.4M | $32.4M | $18.3M | $0 | $0 |
| Pretax income | $51.5M | -$612.5M | -$206.5M | -$172.7M | -$140.8M |
| Income tax expense | $21.4M | -$2.8M | $2.8M | $3.8M | $2,000 |
| Net income | -$1.6M | -$599.5M | -$205.3M | -$176.1M | -$140.8M |
| Balance Sheet | |||||
| Cash and equivalents | — | — | — | — | $184.4M |
| Current assets | $950.6M | $695.5M | $416.5M | $405.3M | $384.6M |
| Total assets | $1.4B | $1.1B | $765.6M | $691.9M | $710.1M |
| Current liabilities | $195.5M | $103.2M | $105.5M | $138.8M | $146.5M |
| Stockholders' equity | $466.1M | $185.4M | $271.3M | $398.5M | $408.8M |
| Cash Flow Statement | |||||
| Cash from operations | $179.6M | -$462.9M | -$153.9M | -$136.1M | $171.3M |
| Depreciation and amortization | $22.2M | $16.9M | $10.7M | $8.7M | $6.6M |
| Stock-based compensation | $63.4M | $74.0M | $78.1M | $120.9M | $76.7M |
| Capital expenditure | $22.7M | $141.5M | $176.7M | $52.8M | $23.6M |
| Free cash flow | $156.9M | -$604.3M | -$330.6M | -$188.9M | $147.7M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 140.9M · Free float 91.3%
Annual filing data through FY ended September 30, 2025; float as of July 11, 2026.