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Arcutis Biotherapeutics vs Ardelyx: ARQT and ARDX compared
Arcutis Biotherapeutics is the larger company: $144M of revenue in its latest quarter (Q3 2026) against $128M for Ardelyx (Q3 2026). Arcutis Biotherapeutics is growing faster (+45% against +16% a year earlier). Arcutis Biotherapeutics is more profitable, with an operating margin of 6.6% against 3.2%.
Where the money goes: ARQT and ARDX
Arcutis Biotherapeutics (ARQT) · Q3 2026
Arcutis Biotherapeutics, Q3 2026: revenue $144M (+45% year over year), operating margin 6.6%, net earnings $8.8M, operating cash flow $18.9M. The chart follows the revenue to costs, profit and cash.
Ardelyx (ARDX) · Q3 2026
Ardelyx, Q3 2026: revenue $128M (+16% year over year), operating margin 3.2%, net loss $737K, operating cash flow $2.2M. The chart follows the revenue to costs, profit and cash.
| Arcutis Biotherapeutics (ARQT) | Ardelyx (ARDX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $144M | $128M |
| Revenue growth, Y/Y | +45% | +16% |
| Operating margin | 6.6% | 3.2% |
| Net earnings | $8.8M | −$737K |
| Net margin | 6.1% | -0.6% |
| Operating cash flow | $18.9M | $2.2M |
| Free cash flow | $18.8M | — |
Where the revenue comes from
Arcutis Biotherapeutics
- ZORYVE foam: $75.1M (52%)
- ZORYVE cream 0.3%: $37.8M (26%)
- ZORYVE cream 0.15%: $27.3M (19%)
- ZORYVE cream 0.05%: $3.7M (3%)
Ardelyx
- Product sales, net: $125M (98%)
- Product supply revenue: $1.4M (1%)
- Non-cash royalty revenue related to the sale of future royalties: $604K (0%)
Questions
Which is bigger, Arcutis Biotherapeutics or Ardelyx?
Arcutis Biotherapeutics is the larger company: $144M of revenue in its latest quarter (Q3 2026) against $128M for Ardelyx (Q3 2026).
Is Arcutis Biotherapeutics or Ardelyx growing faster?
Arcutis Biotherapeutics is growing faster (+45% against +16% a year earlier).
Which is more profitable, Arcutis Biotherapeutics or Ardelyx?
Arcutis Biotherapeutics is more profitable, with an operating margin of 6.6% against 3.2%.
More: Arcutis Biotherapeutics earnings · how Arcutis Biotherapeutics makes money · Ardelyx earnings · how Ardelyx makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.