Filing Flows › Arcus Biosciences (RCUS) › Q3 2025
Arcus Biosciences (RCUS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Arcus Biosciences (RCUS) reported revenue of $26.0M for the third quarter 2025 (Q3 2025), -46% from a year earlier and -84% from the quarter before. Operating margin was -546.2%, net loss $135M (519.2% of revenue).
Arcus Biosciences, Q3 2025: revenue $26.0M (-46% year over year), operating margin -546.2%, net loss $135M, operating cash flow −$97.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.0M | -84% | -46% |
| Operating profit | −$142M | — | — |
| Net earnings | −$135M | — | — |
| Operating cash flow | −$97.0M | — | — |
What changed
Revenue was $26.0M in Q3 2025, down 46% year over year and down 84% from the previous quarter. License and Development Services Revenue was the largest line at 77% of revenue. License and Development Services Revenue lost $21.0M year over year (down 51%), 95% of the total change.
Operating costs exceeded revenue by $142.0M, an operating margin of -546.2%. Total costs grew 10% against a revenue fall of 46%. The fastest-growing cost line was Research & development (+15%). The quarter ended with a net loss of $135.0M, after a profit of $0K the previous quarter.
Operating cash flow was −$97.0M. Non-cash charges added back $2.0M of depreciation and amortization and $14.0M of share-based compensation. Working capital and other items added $22.0M.
Questions
What was Arcus Biosciences' revenue in the third quarter 2025?
Arcus Biosciences (RCUS) reported revenue of $26.0M for the third quarter 2025 (Q3 2025), -46% from a year earlier and -84% from the quarter before.
Was Arcus Biosciences profitable in the third quarter 2025?
Operating loss was $142M (-546.2% of revenue) and net loss $135M.
Source: Arcus Biosciences 10-Q on SEC EDGAR.