← Arcutis Biotherapeutics, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net loss | ($19.3m) | ($42.0m) | ($135.7m) | ($206.4m) | ($311.5m) | ($262.1m) | ($140.0m) | ($16.1m) | — | |
| Net Income (Loss) Attributable to Parent | — | ($42.0m) |
($135.7m)
-223.07%
|
($206.4m)
-52.09%
|
($311.5m)
-50.93%
|
($262.1m)
+15.83%
|
($140.0m)
+46.58%
|
($16.1m)
+88.47%
|
— | |
| Depreciation | — | $68k | $122k | $454k | $622k | $771k | $640k | $700k | $623k | |
| Amortization of Intangible Assets | — | — | $0 | $0 | $312k | $750k | $2.0m | $4.7m | — | |
| Deferred Income Tax Expense (Benefit) | — | — | — | — | — | $0 | ($152k) | $54k | — | |
| Share-based Payment Arrangement, Noncash Expense | — | $824k | $7.9m | $23.9m | $32.7m | $38.8m | $41.7m | $40.4m | $43.5m | |
| Share-based Payment Arrangement, Expense | — | $824k | $7.9m | $23.9m | $32.7m | $38.8m | $41.7m | $40.4m | $43.5m | |
| Stock-based compensation expense | $151k | $824k | $7.9m | $23.9m | $32.7m | $38.8m | $41.7m | $40.4m | $43.5m | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | — | — | — | $0 | — | |
| Nonoperating Income (Expense) | — | $1.1m | $967k | $173k | ($9.8m) | — | — | — | — | |
| Other Nonoperating Income (Expense) | — | — | — | — | $5.8m | $11.8m | $16.2m | $443k | — | |
| Changes in operating assets and liabilities: | ||||||||||
| Increase (Decrease) in Accounts Receivable | — | — | — | — | $8.5m | $17.3m | $47.3m | $73.2m | ($48.5m) | |
| Accounts receivable, net | — | — | $0 | $0 | ($8.5m) | ($17.3m) | ($47.3m) | ($73.2m) | ($48.5m) | |
| Increase (Decrease) in Inventories | — | — | — | — | $7.5m | $5.6m | $400k | $7.3m | ($21.7m) | |
| Inventories | — | — | $0 | $0 | ($7.5m) | ($5.6m) | ($400k) | ($7.3m) | ($21.7m) | |
| Increase (Decrease) in Accounts Payable | $1.3m | ($458k) | $5.7m | $245k | $1.6m | $3.2m | $2.2m | ($1.7m) | ($8.5m) | |
| Accrued liabilities | $601k | $2.4m | $11.9m | $10.5m | $1.2m | $5.6m | $32.0m | $50.0m | $59.7m | |
| Prepaid expenses and other current assets | $243k | ($3.3m) | ($3.4m) | ($7.3m) | $3.5m | ($8.6m) | ($948k) | ($2.0m) | — | |
| Net Cash Provided by (Used in) Operating Activities | ($14.1m) |
($42.8m)
-204.12%
|
($113.0m)
-163.87%
|
($174.6m)
-54.49%
|
($257.7m)
-47.58%
|
($247.1m)
+4.14%
|
($112.2m)
+54.60%
|
($5.6m)
+94.98%
|
$39.3m
+798.83%
|
|
| Cash flows from investing activities: | ||||||||||
| Payments to Acquire Property, Plant, and Equipment | $0 | $295k | $321k | $995k | $333k | $428k | $143k | $686k | ($158k) | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | $0 | ($42k) | $0 | $0 | — | — | — | $54k | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | $0 | $0 | $0 | $0 | $0 | — | — | — | |
| Marketable Securities, Unrealized Gain (Loss) | — | $0 | $0 | $0 | $0 | — | — | — | — | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | — | $34.8m | $97.6m | $217.6m | $351.5m | $406.5m | $288.8m | $227.4m | — | |
| Net accretion on marketable securities | ($14k) | ($354k) | $72k | $3.5m | ($2.3m) | ($7.0m) | ($6.9m) | ($2.1m) | — | |
| Purchases of marketable securities | ($11.5m) | ($60.8m) | ($279.1m) | ($292.5m) | ($415.4m) | ($225.8m) | ($254.8m) | ($247.0m) | — | |
| Proceeds from maturities and sales of marketable securities | — | — | — | — | — | $406.5m | $288.8m | $227.4m | — | |
| Net Cash Provided by (Used in) Investing Activities | ($11.5m) | ($26.3m) | ($181.8m) | ($76.0m) | ($87.2m) | $180.2m | $28.8m | ($30.3m) | ($86.0m) | |
| Cash flows from financing activities: | ||||||||||
| Repayments of Long-term Debt | — | — | — | — | — | — | $100.0m | $0 | $0 | |
| Proceeds from Issuance of Long-term Debt | — | — | — | $74.0m | $125.0m | $0 | $0 | — | $0 | |
| Repayment of long-term debt | — | — | — | — | $0 | $0 | ($100.0m) | $0 | — | |
| Proceeds from Issuance of Common Stock | $0 | $0 | $128.4m | $207.5m | $161.6m | $0 | $161.7m | $0 | $0 | |
| Proceeds from issuance of common stock upon exercise of stock options | $386k | $265k | $526k | $1.3m | $1.0m | $1.2m | $2.8m | $4.6m | $0 | |
| Proceeds from issuance of common stock for ESPP | $0 | $0 | $617k | $842k | $1.9m | $1.2m | $1.7m | $2.4m | $0 | |
| Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs | — | — | — | $0 | $0 | $95.8m | $0 | $0 | $0 | |
| Dividends Payable | — | — | $0 | $0 | $0 | — | — | — | — | |
| Net Cash Provided by (Used in) Financing Activities | $61.6m |
$93.1m
+51.16%
|
$298.1m
+220.23%
|
$281.9m
-5.43%
|
$301.8m
+7.04%
|
$101.3m
-66.43%
|
$66.2m
-34.66%
|
$7.0m
-89.47%
|
$8.3m
+18.39%
|
|
| Net increase (decrease) in cash, cash equivalents and restricted cash | $36.0m | $23.9m | $3.3m | $31.4m | ($43.1m) | $34.4m | ($17.4m) | ($28.7m) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $23.9m | $3.3m | $31.4m | ($43.1m) | $34.4m | ($17.4m) | ($28.7m) | $34.6m | |
| Cash, cash equivalents and restricted cash at beginning of period | $39.4m | $63.3m | $66.6m | $98.0m | $54.9m | $89.3m | $72.0m | $43.2m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $36.0m | $63.3m | $66.6m | $98.0m | $54.9m | $89.3m | $72.0m | $43.2m | $34.6m | |
| Effect of exchange rate changes on cash | — | — | — | $0 | $0 | ($50k) | ($235k) | $168k | ($201k) | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Proceeds from Stock Options Exercised | $386k | $265k | $526k | $1.3m | $1.0m | $1.2m | $2.8m | $4.6m | — | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $0 | $0 | $142k | $12.6m | $25.4m | $22.2m | $10.3m | — | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | $0 | — | |
| Additional Financial Items | ||||||||||
| Accretion Expense | — | — | — | — | $2.6m | $4.0m | — | — | — | |
| General and Administrative Expense | — | $6.6m | $21.3m | $61.0m | $122.1m | — | — | — | — | |
| Income Tax Expense (Benefit) | — | $0 | $0 | $0 | $0 | $3.1m | $647k | $1.2m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | $27.2m | $12.1m | — | |
| Operating Expenses | — | $43.1m | $136.6m | $206.5m | $305.3m | — | — | — | — | |
| Operating Lease, Expense | — | $151k | $602k | $686k | $716k | — | — | — | — | |
| Payments of Financing Costs | — | $1.4m | $0 | — | — | — | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | — | — | $3.7m | $59.6m | $166.5m | $372.1m | — | |
| Non-cash interest expense | — | — | $0 | $0 | $2.6m | $4.0m | $5.4m | $1.8m | — | |
| Other non-cash items, net | — | — | — | — | — | $2.0m | $769k | $652k | — | |
| Operating lease liabilities | $0 | ($84k) | ($6k) | $243k | ($433k) | ($657k) | ($735k) | ($680k) | — | |
| Milestone payment for intangible asset | — | — | — | $0 | ($7.5m) | $0 | ($5.0m) | ($10.0m) | — | |
| Proceeds from issuance of shares under ATM, net of issuance costs | — | — | $0 | $0 | $14.5m | $3.1m | $0 | $0 | — | |
| Right-of-use assets obtained in exchange for operating lease liabilities | $0 | $391k | $3.6m | $0 | $0 | $0 | $0 | $2.9m | — |