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Segments

By product

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ARQ-234 program costs$11M
Topical roflumilast program costs$1.98M-29.9%
Other program costs$95K

Other financials

Income statement

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Revenue$129.9M+59.3%
Gross profit$118.9M+60.7%
Operating income$16.4M+212%
Net income$15.0M+194%
EPS (diluted)$0.11+185%

Balance sheet

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Cash & equivalents$34.4M-52.9%
Total debt$114.1M+3.6%
Total equity$220.6M+58.7%
Total assets$488.5M+38.6%

Cash flow

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Operating cash flow$12.6M
CapEx$158.0K+103%
Free cash flow$12.5M

Valuation

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Market cap$3.32B+81.4%
Enterprise value$3.4B+82.1%
P/S7.2×+0.2×

Profitability

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Gross margin91.1%+2.0pp
Operating margin-12%-5.7pp
Net margin-13.9%-6.6pp
FCF margin-52.5%-21.9pp

Returns & leverage

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Return on equity-28.2%-13.0pp
Debt / equity0.5×-0.3×
Current ratio2.9×-0.3×

Where this comes from

Reported directly by Arcutis Biotherapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Arcutis Biotherapeutics, Inc.’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:21 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001787306-26-000051
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Total revenues129,86181,504235,259147,350
Operating expenses:
Cost of sales10,9397,49220,72316,322
Research and development20,35519,45350,98236,996
Selling, general and administrative82,13869,170156,214133,172
Total operating expenses113,43296,115227,919186,490
Income (loss) from operations16,429(14,611)7,340(39,140)
Other income (expense):

Item 1. Financial Statements (Unaudited)

FAQ

What is Arcutis Biotherapeutics, Inc.'s R&D?
Arcutis Biotherapeutics, Inc. (ARQT) reported R&D of $20.36M in Q2 2026.
How has Arcutis Biotherapeutics, Inc.'s R&D changed year-over-year?
Arcutis Biotherapeutics, Inc.'s R&D increased by 4.6% year-over-year, from $19.45M to $20.36M.
What is the long-term trend for Arcutis Biotherapeutics, Inc.'s R&D?
Over 4 years (2021 to 2025), Arcutis Biotherapeutics, Inc.'s R&D has grown at a -14.7% compound annual growth rate (CAGR), from $145.56M to $77.05M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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