Filing Flows › Arrowhead Pharmaceuticals (ARWR) › Q2 FY26
Arrowhead Pharmaceuticals (ARWR) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 7, 2026
Arrowhead Pharmaceuticals (ARWR) reported revenue of $73.7M for the second quarter fiscal 2026 (Q2 FY26), -86% from a year earlier and -72% from the quarter before. Operating margin was -191.6%, net loss $138M (186.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $73.7M | -72% | -86% |
| Operating profit | −$141M | -446% | -137% |
| Net earnings | −$138M | -547% | -137% |
| Operating cash flow | $84.4M | +526% | -82% |
| Free cash flow | $81.9M | +622% | -82% |
What changed
Revenue was $73.7M in Q2 FY26, down 86% year over year and down 72% from the previous quarter.
Operating costs exceeded revenue by $141.3M, an operating margin of -191.6%. Total costs grew 33% against a revenue fall of 86%. The fastest-growing cost line was SG&A (+47%). The quarter ended with a net loss of $137.6M, after a profit of $28.2M the previous quarter. Minority interests bore $4.8M of it: to shareholders the quarter was a loss of $132.7M.
Operating cash flow was $84.4M (down 82% year over year). Non-cash charges added back $5.9M of depreciation and amortization and $16.7M of share-based compensation. Working capital and other items added $199.4M. Capital expenditures of $2.6M left free cash flow of $81.9M.
Questions
What was Arrowhead Pharmaceuticals' revenue in the second quarter fiscal 2026?
Arrowhead Pharmaceuticals (ARWR) reported revenue of $73.7M for the second quarter fiscal 2026 (Q2 FY26), -86% from a year earlier and -72% from the quarter before.
Was Arrowhead Pharmaceuticals profitable in the second quarter fiscal 2026?
Operating loss was $141M (-191.6% of revenue) and net loss $138M.