Filing Flows › Arcus Biosciences (RCUS) › Q2 2025
Arcus Biosciences (RCUS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Arcus Biosciences (RCUS) reported revenue of $160M for the second quarter 2025 (Q2 2025), +310% from a year earlier and +471% from the quarter before. Operating margin was -5.0%, net earnings $0 (0.0% of revenue).
Arcus Biosciences, Q2 2025: revenue $160M (+310% year over year), operating margin -5.0%, net earnings $0, operating cash flow −$133M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $160M | +471% | +310% |
| Operating profit | −$8.0M | — | — |
| Net earnings | $0 | — | — |
| Operating cash flow | −$133M | — | — |
What changed
Revenue was $160.0M in Q2 2025, up 310% year over year and up 471% from the previous quarter. License and Development Services Revenue was the largest line at 95% of revenue. License and Development Services Revenue added $124.0M year over year (up 443%), 102% of the total change. Other Collaboration Revenue declined 27%.
Operating costs exceeded revenue by $8.0M, an operating margin of -5.0%. Total costs grew 16% against revenue growth of 310%. The fastest-growing cost line was Research & development (+21%). Net earnings were $0K. Non-operating items added $8.0M, so the bottom line overstates operating performance.
Operating cash flow was −$133.0M. Non-cash charges added back $2.0M of depreciation and amortization and $15.0M of share-based compensation. Working capital and other items used $150.0M.
Questions
What was Arcus Biosciences' revenue in the second quarter 2025?
Arcus Biosciences (RCUS) reported revenue of $160M for the second quarter 2025 (Q2 2025), +310% from a year earlier and +471% from the quarter before.
Was Arcus Biosciences profitable in the second quarter 2025?
Operating loss was $8.0M (-5.0% of revenue) and net earnings $0.
Source: Arcus Biosciences 10-Q on SEC EDGAR.