ARQT - Arcutis Biotherapeutics, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$35.50
DETAILS
HIGH:
$37.00
LOW:
$34.00
MEDIAN:
$35.50
CONSENSUS:
$35.50
UPSIDE:
68.41%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Revenue | 376.1 | 196.5 | 59.6 | 3.7 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 36.7 | 19.1 | 5.0 | 0.8 | 0.8 | 0.5 | 0.2 | 0 | 0 |
| Gross Profit | 339.4 | 177.4 | 54.6 | 2.9 | (0.8) | (0.5) | (0.2) | 0 | 0 |
| Operating Expenses | |||||||||
| R&D Expenses | 77.1 | 76.4 | 110.6 | 182.4 | 145.6 | 115.3 | 36.5 | 17.9 | 3.4 |
| SG&A Expenses | 274.6 | 229.4 | 185.1 | 122.1 | 61.0 | 20.9 | 6.4 | 1.8 | 0.7 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 351.6 | 305.8 | 295.7 | 304.6 | 205.8 | 136.2 | 42.9 | 19.7 | 4.1 |
| Operating Income | |||||||||
| Operating Income | (12.2) | (128.4) | (241.1) | (301.6) | (206.5) | (136.6) | (43.1) | (19.7) | (4.1) |
| Interest Expense | 12.1 | 27.2 | 29.7 | 15.7 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0.2 | 1.0 | 1.1 | 0 | 0 |
| Profitability | |||||||||
| EBITDA | 2.5 | (109.6) | (227.4) | (294.6) | (205.6) | (135.2) | (41.8) | 0.5 | (0.9) |
| EBIT | (2.9) | (112.2) | (229.3) | (295.8) | (206.4) | (135.7) | (42.0) | (19.3) | (5.0) |
| Income Before Tax | (15.0) | (139.4) | (259.0) | (311.5) | (206.4) | (135.7) | (42.0) | (19.3) | (5.0) |
| Income Tax Expense | 1.2 | 0.6 | 3.1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (16.1) | (140.0) | (262.1) | (311.5) | (206.4) | (135.7) | (42.0) | (19.3) | (5.0) |
| Per Share Data | |||||||||
| EPS (Basic) | -0.13 | -1.16 | -3.78 | -5.66 | -4.17 | -3.80 | -1.10 | -0.53 | -4.71 |
| EPS (Diluted) | -0.13 | -1.16 | -3.78 | -5.66 | -4.17 | -3.80 | -1.10 | -0.53 | -4.71 |
| Shares Outstanding | 127.2 | 121.0 | 69.3 | 55.0 | 49.4 | 35.7 | 38.1 | 36.2 | 1.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 42.9 | 71.3 | 88.4 | 53.6 | 98.0 | 65.1 | 63.3 | 39.4 | 3.4 |
| Short-Term Investments | 178.1 | 156.6 | 183.5 | 355.9 | 290.6 | 219.4 | 37.9 | 11.5 | 0 |
| Net Receivables | 146.2 | 73.1 | 25.8 | 8.5 | 0.4 | 0.5 | 0 | 0 | 0 |
| Inventory | 22.6 | 14.5 | 13.1 | 7.5 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 21.4 | 8.8 | 9.5 | 4.5 | 7.7 | 1.5 | 1.9 | 0 | 0 |
| Total Current Assets | 411.2 | 335.8 | 330.4 | 437.4 | 402.8 | 292.8 | 106.5 | 51.1 | 3.8 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 5.5 | 3.0 | 3.9 | 4.6 | 5.3 | 5.4 | 0.5 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 14.8 | 9.5 | 6.4 | 7.2 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.4 | 0.6 | 0.6 | 0.1 | 0.1 | 0.1 | 0.0 | 0 | 0 |
| Total Non-Current Assets | 21.7 | 13.1 | 10.9 | 11.9 | 5.4 | 5.4 | 0.5 | 0 | 0 |
| Total Assets | 433.0 | 348.9 | 341.4 | 449.3 | 408.2 | 298.3 | 107.0 | 51.1 | 3.8 |
| Current Liabilities | |||||||||
| Account Payables | 12.5 | 14.2 | 12.0 | 8.8 | 7.4 | 7.1 | 1.4 | 1.8 | 0.5 |
| Short-Term Debt | 1 | 0 | 0 | 0.7 | 0.4 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 116.3 | 20.7 | 19.1 | 13.7 | 16.4 | 0.2 | 0.2 | 0.1 | 0 |
| Total Current Liabilities | 129.8 | 81.0 | 46.7 | 37.8 | 33.3 | 22.6 | 5.2 | 2.7 | 0.7 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 5.3 | 107.2 | 201.8 | 197.8 | 72.3 | 0 | 0 | 0 | 1.0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 108.4 | 0.6 | 0.8 | 0 | 0.0 | 0.1 | 0.2 | 72.4 | 7.2 |
| Total Non-Current Liabilities | 113.7 | 110.3 | 206.0 | 201.9 | 77.1 | 5.0 | 0.3 | 72.4 | 8.1 |
| Total Liabilities | 243.5 | 191.3 | 252.7 | 239.7 | 110.5 | 27.6 | 5.5 | 75.1 | 8.8 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0 | 0 | 0 |
| Retained Earnings | (1,138.1) | (1,121.9) | (981.9) | (719.8) | (408.3) | (201.9) | (66.3) | (24.3) | (5.0) |
| Accumulated Other Comprehensive Income | (0.0) | (0.0) | 0.0 | (1.1) | (0.3) | (0.0) | (0.0) | 0 | 0 |
| Total Stockholders' Equity | 189.5 | 157.5 | 88.7 | 209.6 | 297.7 | 270.6 | 101.5 | (24.0) | (5.0) |
| Total Liabilities & Equity | 433.0 | 348.9 | 341.4 | 449.3 | 408.2 | 298.3 | 107.0 | 51.1 | 3.8 |
| Debt Metrics | |||||||||
| Total Debt | 6.3 | 110.6 | 205.9 | 202.5 | 77.6 | 5.0 | 0.3 | 0 | 1.0 |
| Net Debt | (36.6) | 39.2 | 117.5 | 148.9 | (20.4) | (60.1) | (63.0) | (39.4) | (2.5) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | (16.1) | (140.0) | (262.1) | (311.5) | (206.4) | (135.7) | (42.0) | (19.3) | (5.0) |
| Depreciation & Amortization | 4.7 | 2.6 | 1.5 | 0.9 | 0.5 | 0.1 | 0.1 | 0 | 0 |
| Stock-Based Compensation | 40.4 | 41.7 | 38.8 | 32.7 | 23.9 | 7.9 | 0.8 | 0.2 | 0.0 |
| Change in Working Capital | (34.8) | (15.1) | (23.5) | (10.2) | 3.6 | 14.1 | (1.5) | 2.1 | 0.3 |
| Other Non-Cash Items | 0.3 | (1.4) | (1.8) | 30.3 | 0.3 | 0.3 | (0.2) | 2.9 | 0.9 |
| Operating Cash Flow | (5.6) | (112.2) | (247.1) | (257.7) | (174.6) | (113.0) | (42.8) | (14.1) | (3.8) |
| Investing Activities | |||||||||
| Capital Expenditure | (0.7) | (0.1) | (0.4) | (23.3) | (1.0) | (0.3) | (0.3) | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 22.9 | 75.0 | 181.5 | 0 | 0 | 0 |
| Purchases of Investments | (247.0) | (254.8) | (225.8) | (415.4) | (292.5) | (279.1) | (60.8) | (11.5) | 0 |
| Sales/Maturities of Investments | 227.4 | 288.8 | 406.5 | 351.5 | 217.6 | 97.6 | 34.8 | 0 | 0 |
| Other Investing Activities | (10) | (5) | 0 | (22.9) | (75.0) | (181.5) | 0 | (11.5) | 0 |
| Investing Cash Flow | (30.3) | 28.8 | 180.2 | (87.2) | (76.0) | (181.8) | (26.3) | (11.5) | 0 |
| Financing Activities | |||||||||
| Net Debt Issuance | 0 | (100) | 0 | 125 | 74.0 | 0 | 0 | 0 | 0.1 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 4.5 | 2.4 | 0.8 | 0.5 | 1.1 | (1.1) | 0.4 | 7.1 |
| Financing Cash Flow | 7.0 | 66.2 | 101.3 | 301.8 | 281.9 | 298.1 | 93.1 | 61.6 | 7.1 |
| Cash Position | |||||||||
| Net Change in Cash | (28.7) | (17.4) | 34.4 | (43.1) | 31.4 | 3.3 | 23.9 | 36.0 | 3.3 |
| Cash at Beginning | 72.0 | 89.3 | 54.9 | 98.0 | 66.6 | 63.3 | 39.4 | 3.4 | 0.1 |
| Cash at End | 43.2 | 72.0 | 89.3 | 54.9 | 98.0 | 66.6 | 63.3 | 39.4 | 3.4 |
| Free Cash Flow | (6.3) | (112.3) | (247.5) | (281.0) | (175.6) | (113.4) | (43.1) | (14.1) | (3.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 376.1 | 196.5 | 59.6 | 3.7 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 339.4 | 177.4 | 54.6 | 2.9 | (0.8) | (0.5) | (0.2) | 0 | 0 |
| Operating Income | (12.2) | (128.4) | (241.1) | (301.6) | (206.5) | (136.6) | (43.1) | (19.7) | (4.1) |
| Net Income | (16.1) | (140.0) | (262.1) | (311.5) | (206.4) | (135.7) | (42.0) | (19.3) | (5.0) |
| EPS (Diluted) | -0.13 | -1.16 | -3.78 | -5.66 | -4.17 | -3.80 | -1.10 | -0.53 | -4.71 |
| Balance Sheet | |||||||||
| Cash & Equivalents | 42.9 | 71.3 | 88.4 | 53.6 | 98.0 | 65.1 | 63.3 | 39.4 | 3.4 |
| Total Assets | 433.0 | 348.9 | 341.4 | 449.3 | 408.2 | 298.3 | 107.0 | 51.1 | 3.8 |
| Total Debt | 6.3 | 110.6 | 205.9 | 202.5 | 77.6 | 5.0 | 0.3 | 0 | 1.0 |
| Stockholders' Equity | 189.5 | 157.5 | 88.7 | 209.6 | 297.7 | 270.6 | 101.5 | (24.0) | (5.0) |
| Cash Flow | |||||||||
| Operating Cash Flow | (5.6) | (112.2) | (247.1) | (257.7) | (174.6) | (113.0) | (42.8) | (14.1) | (3.8) |
| Capital Expenditure | (0.7) | (0.1) | (0.4) | (23.3) | (1.0) | (0.3) | (0.3) | 0 | 0 |
| Free Cash Flow | (6.3) | (112.3) | (247.5) | (281.0) | (175.6) | (113.4) | (43.1) | (14.1) | (3.8) |