Arcutis Biotherapeutics, Inc. (ARQT) FY2025 10-K Annual Report
Arcutis Biotherapeutics, Inc. (ARQT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Arcutis Biotherapeutics, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Commercial-stage biopharma specializing in differentiated topical and systemic dermatology treatments targeting immune-mediated diseases
- • New approvals: ZORYVE foam 0.3% for seborrheic dermatitis (FDA Dec 2023), scalp/body plaque psoriasis (FDA May 2025); ZORYVE cream 0.15% for atopic dermatitis (FDA July 2024); ZORYVE cream 0.05% for ages 2-5 (FDA Oct 2025)
Management Discussion & Analysis
- • Revenue $372.1M in 2025, up 123% YoY from $166.5M in 2024; ZORYVE foam up $110.4M, cream 0.15% up $58.4M, cream 0.3% up $35.9M
- • Operating expenses increased; R&D $77.1M in 2025 vs $76.4M 2024 (+1%), SG&A up by $45.2M driven by sales/marketing and compensation
Risk Factors
- • Regulatory risk: oversight of cybersecurity mandated by SEC guidance on disclosure controls and procedures
- • Operational vulnerability: reliance on VP CT&S with 20 years IT experience for day-to-day cybersecurity risk management
Arcutis Biotherapeutics, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$376M
▲ +91.3% YoY
Net Income
-$16M
▲ +88.5% YoY
Operating Margin
-3.3%
▲ +6208bp YoY
Net Margin
-4.3%
▲ +6696bp YoY
ROE
-8.5%
▲ +8037bp YoY
Total Assets
$433M
▲ +24.1% YoY
EPS (Diluted)
$-0.13
▲ +88.8% YoY
Operating Cash Flow
-$6M
▲ +95.0% YoY
Source: XBRL data from Arcutis Biotherapeutics, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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