Arcturus Therapeutics (ARCT) financial statements
Arcturus Therapeutics reported revenue of $82M in fiscal 2025, up 26.6% a year over 7 years.
Net income was -$66M and the operating margin -93.0%, against -138.5% in 2018.
Free cash flow was -$75M.
The diluted share count rose 172% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Arcturus Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16M | $21M | $10M | $12M | $206M | $167M | $152M | $82M |
| Research and development | $17M | $34M | $58M | $174M | $148M | $192M | $195M | $112M |
| Selling, general and admin | $21M | $13M | $23M | $41M | $46M | $53M | $53M | $46M |
| Operating income | -$22M | -$26M | -$72M | -$203M | $12M | -$78M | -$96M | -$76M |
| Pre-tax income | -$22M | -$26M | -$72M | -$204M | $11M | -$28M | -$81M | -$66M |
| Income tax | — | — | — | — | $1M | $2M | -$4,000 | — |
| Net income | -$22M | -$26M | -$72M | -$204M | $9M | -$30M | -$81M | -$66M |
| EPS (diluted) | -$2.16 | -$2.15 | -$3.55 | -$7.74 | $0.35 | -$1.12 | -$3.00 | -$2.40 |
| Diluted shares | 10M | 12M | 20M | 26M | 27M | 27M | 27M | 27M |
| Operating margin | -138.5% | -122.7% | -749.8% | -1641.3% | 5.9% | -46.9% | -62.8% | -93.0% |
| Net margin | -138.3% | -125.0% | -756.3% | -1648.0% | 4.5% | -17.8% | -53.1% | -80.2% |
Balance sheet
Fiscal years, from Arcturus Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $37M | $71M | $463M | $370M | $392M | $292M | $237M | $231M |
| Receivables | $4M | $2M | $2M | $3M | $3M | $32M | $4M | $6M |
| Total current assets | $42M | $74M | $468M | $379M | $403M | $387M | $306M | $241M |
| Property, plant and equipment | $2M | $2M | $3M | $6M | $12M | $12M | $10M | $7M |
| Total assets | $44M | $82M | $476M | $393M | $450M | $429M | $344M | $271M |
| Total current liabilities | $13M | $21M | $50M | $100M | $127M | $82M | $65M | $36M |
| Long-term debt | $10M | $15M | $14M | $41M | — | — | — | — |
| Total liabilities | $31M | $56M | $80M | $165M | $180M | $151M | $103M | $57M |
| Shareholders' equity | $14M | $26M | $397M | $228M | $270M | $279M | $241M | $214M |
| Net debt | -$27M | -$56M | -$448M | -$307M | -$331M | -$292M | -$237M | -$231M |
Cash flow
Fiscal years, from Arcturus Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21M | -$6M | -$43M | -$135M | $32M | -$18M | -$60M | -$74M |
| Capital spending | $1M | $818,000 | $2M | $3M | $8M | $3M | $648,000 | $230,000 |
| Free cash flow | -$22M | -$7M | -$45M | -$138M | $24M | -$21M | -$60M | -$75M |
| Stock-based compensation | $1M | $2M | $7M | $29M | $31M | $35M | $38M | $25M |
| Net borrowing | $10M | $5M | — | $47M | -$5M | -$27M | — | $0 |
| Free cash flow margin | -141.2% | -34.9% | -467.6% | -1120.2% | 11.8% | -12.6% | -39.7% | -90.8% |
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Open ARCT in InvestinglyQuestions
What was Arcturus Therapeutics's revenue in 2025?
$82M in fiscal 2025, from its 10-K filing.
How much free cash flow does Arcturus Therapeutics generate?
-$75M in fiscal 2025 (operating cash flow minus capital spending).
From Arcturus Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.