Arcutis Q1 product revenue rises 65% yr/yr, net loss narrows

Arcutis Biotherapeutics

06/05/2026 21:08

Overview

US dermatology drugmaker's Q1 product revenue rose 65% yr/yr but fell 17% sequentially

Company posted Q1 net loss of $11.3 mln, or $0.09 per share, improving yr/yr

Maintained positive operating cash flow and advanced pipeline with new regulatory filings

Outlook

Company continues to expect 2026 net product revenue of $480 mln to $495 mln

Result Drivers

SEASONALITY IMPACT - Co said the 17% sequential revenue decline was primarily due to typical Q1 patient deductible resets and insurance changes

UNIT DEMAND AND GROSS-TO-NET - Year-over-year revenue growth attributed to strong unit demand and improvements in gross-to-net sales deductions

SALES FORCE EXPANSION - Dermatology sales force expansion completed to optimize prescriber targeting and deepen ZORYVE adoption

Company press release: ID:nGNX57Qc7Q

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Product Revenue
$105.40 mln
Q1 EPS
-$0.09
Q1 Net Income
-$11.30 mln
Q1 Operating Expenses
$114.49 mln
Q1 Operating Income
-$9.09 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Arcutis Biotherapeutics Inc is $35.00, about 49.4% above its May 5 closing price of $23.42

The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 68 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)