Arcus Biosciences, Inc. (RCUS) FY2025 10-K Annual Report
Arcus Biosciences, Inc. (RCUS) 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.
Arcus Biosciences, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Development and commercialization of investigational pharmaceutical products in immuno-oncology
- • No new products or segments introduced; increased emphasis on regulatory, pricing, and healthcare reform risks in U.S. markets
Management Discussion & Analysis
- • No product sales revenue; all revenue from license, collaboration, and development services agreements
- • License and development services revenue recognized based on percentage completion of R&D obligations
Risk Factors
- • Regulatory risk from Gilead collaboration amendment causing revenue catch-up of $143M in 2025, impacting timing and recognition of license income
- • Macroeconomic exposure to collaboration funding variability, e.g., Taiho option revenue dropped from $15M in 2024 to $7M in 2025
Arcus Biosciences, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$33M
▼ -35.3% YoY
Net Income
-$353M
▼ -24.7% YoY
Operating Margin
-1169.7%
▼ -52264bp YoY
Net Margin
-1069.7%
▼ -51480bp YoY
ROE
-55.9%
▲ +241bp YoY
Total Assets
$1.1B
▼ -1.0% YoY
EPS (Diluted)
$-3.29
▼ -4.8% YoY
Operating Cash Flow
-$482M
▼ -183.5% YoY
Source: XBRL data from Arcus Biosciences, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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