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Arcturus Therapeutics Holdings (ARCT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Arcturus Therapeutics Holdings (ARCT) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $18.3M · 41¢ of every $1 of revenue lost · operating margin -50.2%
Arcturus Therapeutics Holdings made $18.3M in Q3 2026 (+7% Y/Y): Collaboration Revenue $16.9M, Grant $1.4M. Operating margin -50.2%, net loss $7.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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What changed this quarter
Revenue was $18.3M in Q3 2026, up 7% year over year and up 518% from the previous quarter. Collaboration Revenue was the largest line at 92% of revenue. Collaboration Revenue added $2.7M year over year (up 19%), 236% of the total change. Grant declined 52%.
Operating costs exceeded revenue by $9.2M, an operating margin of -50.2%. Total costs fell 18% while revenue rose 7%. The quarter ended with a net loss of $7.4M, narrower than the previous quarter's $23.8M loss. Non-operating items added $1.8M, -24% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$6.9M. Non-cash charges added back $600K of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $52K exceeded it, leaving free cash flow of −$7.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $18.3M | +7% | -50.2% | −$7.4M | −$6.9M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $3.0M | -90% | -863.3% | −$23.8M | −$19.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $2.1M | -93% | n/m | −$27.0M | −$19.4M |
| Q4 2025 | 10-K | Mar 3, 2026 | $7.2M | -68% | -435.1% | −$29.1M | −$16.2M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $17.2M | -59% | -96.3% | −$13.4M | −$17.2M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $28.3M | -43% | -41.0% | −$9.2M | −$5.8M |
| Q1 2025 | 10-Q | May 12, 2025 | $29.4M | -23% | -57.3% | −$14.1M | −$35.1M |
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About Arcturus Therapeutics Holdings
We are a messenger RNA medicines company focused on the development of liver and respiratory rare disease therapeutics. We have ongoing Phase 2 clinical studies for our RNA therapeutic candidates to potentially treat ornithine transcarbamylase (OTC) deficiency and cystic fibrosis (CF). We developed the world’s first approved self-amplifying messenger RNA (sa-mRNA) vaccine, KOSTAIVE ® (“KOSTAIVE”), which we have partnered with Seqirus, Inc. (“CSL Seqirus”), a part of CSL Limited. KOSTAIVE has achieved approval in Japan, the European Union and the United Kingdom as a vaccine against COVID-19, and sales of KOSTAIVE began in Japan in October 2024.
In its own words, from its 10-K, filed Mar 3, 2026.
Arcturus Therapeutics Holdings against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +7%. Operating margin: -50.2% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ARCT Arcturus Therapeutics Holdings | Q3 2026 | $18.3M | +7% | -50.2% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Arcturus Therapeutics Holdings 10-Q on SEC EDGAR · CIK 1768224 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns ARCT and who is buying
More on ARCT
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results