Filing Flows › Arrowhead Pharmaceuticals (ARWR) › Q2 FY26 › vs Q2 FY25
Arrowhead Pharmaceuticals (ARWR) Q2 FY26 vs Q2 FY25 (year over year)
Arrowhead Pharmaceuticals's revenue fell $469M (-86%) from $543M in Q2 FY25 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 Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Free cash flow margin | 111.0% | 83.8% | +27.2 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $73.7M | $543M | −$469M | -86% |
| Other income, net | $3.7M | −$11.6M | $15.3M | — |
| Net loss | $138M | −$368M | $505M | — |
| Costs & expenses | $215M | $543M | −$328M | -60% |
| Operating costs | $215M | $162M | $53.5M | +33% |
| Income tax | $7K | $1.8M | −$1.7M | -100% |
| Research & development | $173M | $133M | $40.2M | +30% |
| SG&A | $41.7M | $28.4M | $13.3M | +47% |
| Operating cash sources | $222M | $92.2M | $130M | +141% |
| Depreciation & amortization | $5.9M | $5.6M | $300K | +5% |
| Share-based compensation | $16.7M | $16.0M | $643K | +4% |
| Working capital & other | $199M | $70.6M | $129M | +183% |
| Net loss absorbed | $138M | −$368M | $505M | — |
| Operating cash flow | $84.4M | $460M | −$376M | -82% |
| Free cash flow (OCF − capex) | $81.9M | $455M | −$373M | -82% |
| Capital expenditures | $2.6M | $5.3M | −$2.7M | -52% |
Questions
How much did Arrowhead Pharmaceuticals's revenue grow year over year in Q2 FY26?
Arrowhead Pharmaceuticals's revenue fell $469M (-86%) from $543M in Q2 FY25 to $73.7M in Q2 FY26.