Filing Flows › Arrowhead Pharmaceuticals (ARWR) › Q2 FY26 › vs Q1 FY26
Arrowhead Pharmaceuticals (ARWR) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Arrowhead Pharmaceuticals's revenue fell $190M (-72%) from $264M in Q1 FY26 to $73.7M in Q2 FY26.
Arrowhead Pharmaceuticals, Q2 FY26: revenue $73.7M (-86% year over year), operating margin -191.6%, net loss $138M, operating cash flow $84.4M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Free cash flow margin | 111.0% | 4.3% | +106.7 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $73.7M | $264M | −$190M | -72% |
| Other income, net | $3.7M | −$12.5M | $16.2M | — |
| Net loss | $138M | −$28.2M | $166M | — |
| Costs & expenses | $215M | $264M | −$49.0M | -19% |
| Operating costs | $215M | $223M | −$8.2M | -4% |
| Income tax | $7K | $29K | −$22K | -76% |
| Research & development | $173M | $177M | −$4.0M | -2% |
| Operating cash sources | $222M | −$14.8M | $237M | — |
| Depreciation & amortization | $5.9M | $6.0M | −$100K | -2% |
| Share-based compensation | $16.7M | $19.4M | −$2.7M | -14% |
| Working capital & other | $199M | −$40.1M | $240M | — |
| Net loss absorbed | $138M | −$28.2M | $166M | — |
| Operating cash flow | $84.4M | $13.5M | $71.0M | +526% |
| Free cash flow (OCF − capex) | $81.9M | $11.3M | $70.5M | +622% |
| Capital expenditures | $2.6M | $2.1M | $417K | +19% |
Questions
How much did Arrowhead Pharmaceuticals's revenue grow quarter over quarter in Q2 FY26?
Arrowhead Pharmaceuticals's revenue fell $190M (-72%) from $264M in Q1 FY26 to $73.7M in Q2 FY26.