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Arcus Biosciences (RCUS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Arcus Biosciences (RCUS) Q3 2026 earnings results →
Q3 2026 Revenue down 65% year over year to $9.0M
Arcus Biosciences made $9.0M in Q3 2026 (-65% Y/Y): License and development services $8.0M, Other collaboration $1.0M. Operating margin n/m, net loss $128M. 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 $9.0M in Q3 2026, down 65% year over year and down 78% from the previous quarter. License and development services was the largest line at 89% of revenue. License and development services lost $12.0M year over year (down 60%), 71% of the total change.
Operating costs exceeded revenue by $131.0M, an operating margin of -1455.6%. Total costs fell 17% while revenue fell 65%. The quarter ended with a net loss of $128.0M, wider than the previous quarter's $91.0M loss.
Operating cash flow was −$88.0M. Non-cash charges added back $2.0M of depreciation and amortization and $16.0M of share-based compensation. Working capital and other items added $22.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $9.0M | -65% | n/m | −$128M | −$88.0M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $41.0M | -74% | -234.1% | −$91.0M | −$119M |
| Q1 2026 | 10-Q | May 5, 2026 | $17.0M | -39% | -788.2% | −$128M | −$138M |
| Q4 2025 | 10-K | Feb 25, 2026 | $33.0M | +27% | -345.5% | −$106M | −$120M |
| Q3 2025 | 10-Q | Oct 28, 2025 | $26.0M | -46% | -546.2% | −$135M | −$97.0M |
| Q1 2025 | 10-Q | May 6, 2025 | $28.0M | -81% | -435.7% | −$112M | −$132M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Arcus Biosciences
We are a late clinical-stage biopharmaceutical company focused on developing differentiated molecules for patients with cancer and inflammatory and autoimmune diseases. Our most advanced molecules are in Phase 3 registrational studies for various cancer indications and we expect our next wave of clinical-stage molecules to come from our inflammation and autoimmune disease programs. Our vision is to leverage our internal small-molecule discovery capabilities to create, develop and commercialize highly differentiated therapies that can have a meaningful impact on patients.
In its own words, from its 10-K, filed Feb 25, 2026.
Arcus Biosciences against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -65% against the peers' median +7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RCUS Arcus Biosciences | Q3 2026 | $9.0M | -65% | n/m |
| 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: Arcus Biosciences 10-Q on SEC EDGAR · CIK 1724521 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns RCUS and who is buying
More on RCUS
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- Arcus Biosciences next earnings date and what analysts expect
- Arcus Biosciences stock forecast, price target and fair value
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q1 2025 results