Filing Flows › Arcus Biosciences (RCUS) › Q4 2025
Arcus Biosciences (RCUS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Arcus Biosciences (RCUS) reported revenue of $33.0M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +27% from the quarter before. Operating margin was -345.5%, net loss $106M (321.2% of revenue).
Arcus Biosciences, Q4 2025: revenue $33.0M (+27% year over year), operating margin -345.5%, net loss $106M, operating cash flow −$120M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.0M | +27% | +27% |
| Operating profit | −$114M | — | — |
| Net earnings | −$106M | — | — |
| Operating cash flow | −$120M | — | — |
What changed
Revenue was $33.0M in Q4 2025, up 27% year over year and up 27% from the previous quarter.
Operating costs exceeded revenue by $114.0M, an operating margin of -345.5%. Total costs grew 14% against revenue growth of 27%. The fastest-growing cost line was Research & development (+20%). The quarter ended with a net loss of $106.0M, narrower than the previous quarter's $135.0M loss.
Operating cash flow was −$120.0M. Non-cash charges added back $3.0M of depreciation and amortization and $15.0M of share-based compensation. Working capital and other items used $32.0M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$121.0M.
Questions
What was Arcus Biosciences' revenue in the fourth quarter 2025?
Arcus Biosciences (RCUS) reported revenue of $33.0M for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +27% from the quarter before.
Was Arcus Biosciences profitable in the fourth quarter 2025?
Operating loss was $114M (-345.5% of revenue) and net loss $106M.
Source: Arcus Biosciences 10-K on SEC EDGAR.