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Arcutis Biotherapeutics (ARQT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Arcutis Biotherapeutics (ARQT) Q3 2026 earnings results →
Q3 2026 Revenue up 45% year over year to $144M · 6¢ of every $1 of revenue kept as net profit · operating margin 6.6%
Arcutis Biotherapeutics made $144M in Q3 2026 (+45% Y/Y): ZORYVE foam $75.1M, ZORYVE cream 0.3% $37.8M, ZORYVE cream 0.15% $27.3M. Operating margin 6.6%, net earnings $8.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $143.9M in Q3 2026, up 45% year over year and up 11% from the previous quarter. ZORYVE foam was the largest line at 52% of revenue. ZORYVE foam added $25.4M year over year (up 51%), 57% of the total change.
Operating profit was $9.4M, a 6.6% margin (down 2.0 points year over year). Of the extra revenue versus Q3 2025, 2% reached operating profit, below the 9% margin then. Total costs grew 48% against revenue growth of 45%. The fastest-growing cost line was SG&A (+60%). Net earnings were $8.8M, up 19% year over year. The effective tax rate was 2.2%.
Operating cash flow was $18.9M, 215% of net earnings. Non-cash charges added back $12.4M of share-based compensation. Working capital and other items used $2.3M. Capital expenditures of $97K left free cash flow of $18.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $144M | +45% | 6.6% | $8.8M | $18.9M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $130M | +59% | 12.7% | $15.0M | $12.6M |
| Q1 2026 | 10-Q | May 6, 2026 | $105M | +60% | -8.6% | −$11.3M | $2.2M |
| Q4 2025 | 10-K | Feb 25, 2026 | $130M | +82% | 14.2% | $17.4M | $26.2M |
| Q3 2025 | 10-Q | Oct 28, 2025 | $99.2M | +122% | 8.6% | $7.4M | −$1.8M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $81.5M | +164% | -17.9% | −$15.9M | $324K |
| Q1 2025 | 10-Q | May 6, 2025 | $65.8M | +33% | -37.3% | −$25.1M | −$30.4M |
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About Arcutis Biotherapeutics
We are a commercial-stage biopharmaceutical company focused on developing and commercializing treatments for dermatological diseases with high unmet medical needs. Our current portfolio is comprised of highly differentiated topical and systemic treatments with significant potential to treat immune-mediated dermatological diseases and conditions. We believe we have built a leading platform for dermatologic product development and commercialization. Our strategy is to focus on validated biological targets, and to use our drug development platform and deep dermatology expertise to develop and commercialize differentiated products that have the potential to address the major shortcomings of existing therapies in our targeted indications.
In its own words, from its 10-K, filed Feb 25, 2026.
Arcutis Biotherapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +45% against the peers' median +10%. Operating margin: 6.6% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ARQT Arcutis Biotherapeutics | Q3 2026 | $144M | +45% | 6.6% |
| 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: Arcutis Biotherapeutics 10-Q on SEC EDGAR · CIK 1787306 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns ARQT and who is buying
More on ARQT
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- Arcutis Biotherapeutics guidance and outlook
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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
- Arcutis Biotherapeutics operating margin by quarter
- Arcutis Biotherapeutics net income by quarter
- Arcutis Biotherapeutics free cash flow by quarter
- Arcutis Biotherapeutics R&D spending by quarter
- Arcutis Biotherapeutics capital expenditures by quarter
- Arcutis Biotherapeutics ZORYVE foam revenue by quarter
- Arcutis Biotherapeutics ZORYVE cream 0.3% revenue by quarter
- Arcutis Biotherapeutics ZORYVE cream 0.15% revenue by quarter