# Arcutis Biotherapeutics, Inc.: overview

ARQT · Nasdaq · CIK 1787306 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/arqt.md) · [Financials](/companies/arqt/financials.md) · [Filings](/companies/arqt/filings.md) · [Insiders](/companies/arqt/insiders.md)

Latest reported revenue: [$129.9m](/filings/0001787306-26-000051.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 5, 2026 (XBRL us-gaap:Revenues, accession 0001787306-26-000051).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [44.8](/filings/0001787306-25-000144.md) | [71.4 d](/filings/0001787306-26-000018.md) | [65.8](/filings/0001787306-26-000040.md) | [81.5](/filings/0001787306-26-000051.md) | [99.2](/filings/0001787306-25-000144.md) | [130 d](/filings/0001787306-26-000018.md) | [105](/filings/0001787306-26-000040.md) | [130](/filings/0001787306-26-000051.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(87.3%)](/filings/0001787306-25-000144.md) | [(10.7%) d](/filings/0001787306-26-000018.md) | [(37.3%)](/filings/0001787306-26-000040.md) | [(17.9%)](/filings/0001787306-26-000051.md) | [8.6%](/filings/0001787306-25-000144.md) | [14.2% d](/filings/0001787306-26-000018.md) | [(8.6%)](/filings/0001787306-26-000040.md) | [12.7%](/filings/0001787306-26-000051.md) |
| Net margin | % | [(92.8%)](/filings/0001787306-25-000144.md) | [(15.1%) d](/filings/0001787306-26-000018.md) | [(38.1%)](/filings/0001787306-26-000051.md) | [(19.5%)](/filings/0001787306-26-000051.md) | [7.5%](/filings/0001787306-25-000144.md) | [13.4% d](/filings/0001787306-26-000018.md) | [(10.7%)](/filings/0001787306-26-000051.md) | [11.6%](/filings/0001787306-26-000051.md) |
| Diluted EPS | $ per share | [(0.33)](/filings/0001787306-25-000144.md) | not reported | [(0.20)](/filings/0001787306-26-000040.md) | [(0.13)](/filings/0001787306-26-000051.md) | [0.06](/filings/0001787306-25-000144.md) | not reported | [(0.09)](/filings/0001787306-26-000040.md) | [0.11](/filings/0001787306-26-000051.md) |
| Free cash flow | $m | [(34.8) d](/filings/0001787306-25-000144.md) | [(0.7) d](/filings/0001787306-26-000018.md) | [(31.0)](/filings/0001787306-26-000040.md) | [0.2 d](/filings/0001787306-26-000051.md) | [(1.8) d](/filings/0001787306-25-000144.md) | [26.2 d](/filings/0001787306-26-000018.md) | [2.2](/filings/0001787306-26-000040.md) | [12.5 d](/filings/0001787306-26-000051.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [0.0](/filings/0001787306-24-000031.md) | [3.7](/filings/0001787306-25-000029.md) | [59.6](/filings/0001787306-26-000018.md) | [197](/filings/0001787306-26-000018.md) | [376](/filings/0001787306-26-000018.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | [(8183.0%)](/filings/0001787306-25-000029.md) | [(404.5%)](/filings/0001787306-26-000018.md) | [(65.3%)](/filings/0001787306-26-000018.md) | [(3.3%)](/filings/0001787306-26-000018.md) |
| Net margin | % | not reported | [(8449.8%)](/filings/0001787306-25-000029.md) | [(439.8%)](/filings/0001787306-26-000018.md) | [(71.3%)](/filings/0001787306-26-000018.md) | [(4.3%)](/filings/0001787306-26-000018.md) |
| Diluted EPS | $ per share | [(4.18)](/filings/0001787306-24-000031.md) | [(5.66)](/filings/0001787306-25-000029.md) | [(3.78)](/filings/0001787306-26-000018.md) | [(1.16)](/filings/0001787306-26-000018.md) | [(0.13)](/filings/0001787306-26-000018.md) |
| Free cash flow | $m | [(176)](/filings/0001787306-24-000031.md) | [(258)](/filings/0001787306-25-000029.md) | [(247)](/filings/0001787306-26-000018.md) | [(112)](/filings/0001787306-26-000018.md) | [(6.3)](/filings/0001787306-26-000018.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/arqt/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [MONTANOVA CAPITAL, LLC](/funds/1569064.md) | 2026-06-30 | $326.1m | 12,437,000 |  | Added +110,000 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $276.5m | 10,545,466 |  | Added +1,345,055 |
| [Frazier Life Sciences Management, L.P.](/funds/1892134.md) | 2026-06-30 | $258.9m | 9,874,511 |  | Unchanged |
| [Rubric Capital Management LP](/funds/1687509.md) | 2026-06-30 | $216.9m | 8,271,577 |  | Unchanged |
| [Polar Capital Holdings Plc](/funds/1837309.md) | 2026-06-30 | $173.2m | 6,606,945 |  | Added +940,005 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $152.7m | 5,822,840 |  | Reduced −473,357 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $130.8m | 4,988,756 |  | Added +117,220 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $116.7m | 4,451,014 |  | Added +232,083 |
| [JENNISON ASSOCIATES LLC](/funds/53417.md) | 2026-06-30 | $110.6m | 4,219,058 |  | Reduced −761,712 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $103.6m | 3,949,609 |  | Added +1,453,387 |

## Recent filings

[All 837 filings](/companies/arqt/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-05 | 16:21 ET | [10-Q](/filings/0001787306-26-000051.md) | Quarterly report, period 2026-06-30 | 0001787306-26-000051 |
| 2026-08-05 | 16:14 ET | [8-K](/filings/0001787306-26-000049.md) | 2.02 Results of operations; 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001787306-26-000049 |
| 2026-07-16 | 16:25 ET | [8-K](/filings/0001628280-26-048469.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001628280-26-048469 |
| 2026-06-09 | 16:05 ET | [8-K](/filings/0001628280-26-041883.md) | 5.07 Shareholder vote results; 8.01 Other events; 9.01 Financial statements and exhibits | 0001628280-26-041883 |
| 2026-05-06 | 16:06 ET | [10-Q](/filings/0001787306-26-000040.md) | Quarterly report, period 2026-03-31 | 0001787306-26-000040 |
| 2026-05-06 | 16:03 ET | [8-K](/filings/0001787306-26-000039.md) | 9.01 Financial statements and exhibits | 0001787306-26-000039 |
| 2026-04-21 | 16:38 ET | [DEF 14A](/filings/0001787306-26-000028.md) | Proxy statement, period 2026-04-21 | 0001787306-26-000028 |
| 2026-02-25 | 16:07 ET | [10-K](/filings/0001787306-26-000018.md) | Annual report, period 2025-12-31 | 0001787306-26-000018 |
| 2026-02-25 | 16:04 ET | [8-K](/filings/0001787306-26-000017.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001787306-26-000017 |
| 2025-12-08 | 16:28 ET | [8-K](/filings/0001787306-25-000147.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001787306-25-000147 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001787306-26-000018.md), filed Feb 25, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/7e722788-0944-4222-9be9-ede65ebb886b)

## About the filer

- CIK: 1787306
- Tickers: ARQT
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 28, 2026, 09:04 ET. No prices; not investment advice.