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Other financials

Income statement

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Revenue$41.0M-74.4%
Operating income-$96.0M-1,100%
Net income-$91.0M
EPS (diluted)-$0.72

Balance sheet

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Cash & equivalents$150.0M-39.5%
Total debt$114.0M+4.6%
Total equity$464.0M-15.5%
Total assets$924.0M-14.0%

Cash flow

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Operating cash flow-$119.0M+10.5%
CapEx-
Free cash flow-$119.0M+10.5%

Valuation

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Market cap$3.61B+259%
Enterprise value$3.57B+312%
P/S30.8×+27.0×

Profitability

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Operating margin-415.4%-756pp
Net margin-393.2%-663pp
FCF margin-406%

Returns & leverage

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Return on equity-90.8%+373pp
Debt / equity0.2×0.0×
Current ratio3.8×-0.7×

Where this comes from

Reported directly by Arcus Biosciences in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Arcus Biosciences’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:11 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001724521-26-000044
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Other collaboration(Includes $25, $8, $30 and $16 from a related party)2583016
Total revenues4116058188
Operating expenses:
Research and development (Includes $2, $11, $2 and $6 from a related party)113139235261
General and administrative(Includes $—, $2, $— and $2 from a related party)24295357
Total operating expenses137168288318
Loss from operations(96)(8)(230)(130)
Non-operating income (expense):

Item 1. Financial Statements

FAQ

What is Arcus Biosciences's R&D?
Arcus Biosciences (RCUS) reported R&D of $113M in Q2 2026.
How has Arcus Biosciences's R&D changed year-over-year?
Arcus Biosciences's R&D decreased by 18.7% year-over-year, from $139M to $113M.
What is the long-term trend for Arcus Biosciences's R&D?
Over 4 years (2021 to 2025), Arcus Biosciences's R&D has grown at a 19.4% compound annual growth rate (CAGR), from $257M to $523M.
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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