Arcutis Biotherapeutics (ARQT)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from ARQT's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Arcutis Biotherapeutics's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $4M | $29M | $167M | $372M |
| Net income | -$206M | -$311M | -$262M | -$140M | -$16M |
| Free cash flow | -$176M | -$258M | -$247M | -$112M | -$6M |
| EPS (diluted) | -$4.18 | -$5.66 | -$3.78 | -$1.16 | -$0.13 |
| Operating margin | — | -8183.0% | -826.1% | -77.1% | -3.3% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own ARQT
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Ron Baron Baron Capital (BAMCO) |
Added | $33M | 0.05% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $9M | 0.00% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
New position | $499,019 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Arcutis Biotherapeutics's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 3, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $23.60 | — |
| Mar 3, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $23.60 | — |
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In the full deep dive
Questions
Are Arcutis Biotherapeutics insiders buying the stock?
2 open-market insider purchases of ARQT in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Arcutis Biotherapeutics?
3 of the superinvestors Investingly tracks hold ARQT in their latest 13F, including Ron Baron, Cliff Asness, Joel Greenblatt.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.