The raised FY guidance and sustained profitability signal accelerating commercial execution. Monitor Q4 2026 for vitiligo Phase 2 data and the February 2027 PDUFA for the infant atopic dermatitis sNDA, both potential catalysts. The stock's strong momentum may continue, but the 86% bullish analyst consensus already reflects high expectations.
Price Chart
Executive Summary
Arcutis reported Q2 2026 product revenue of $129.9M (+59% YoY) and net income of $15.0M ($0.11 EPS), a significant turnaround from a net loss of -$15.9M in Q2 2025. The company raised full-year 2026 net product sales guidance from $480-495M to $525-540M, reflecting strong ZORYVE demand and improved gross-to-net pricing. Despite the EPS miss vs consensus ($0.11 actual vs $0.05 estimate, a +120% beat), the stock is likely to react positively to the revenue beat, raised guidance, and sustained positive operating cash flow of $12.6M.
Key Financial Metrics
Key Facts
- Q2 2026 product revenue of $129.9M (+59% YoY, +23% sequential)
- Net income of $15.0M ($0.11 EPS) vs net loss of -$15.9M in Q2 2025
- Raised FY2026 net product sales guidance to $525-540M from $480-495M
- Positive operating cash flow of $12.6M in Q2 2026
- FDA approved ZORYVE cream 0.3% for children with plaque psoriasis down to age 2
- FDA accepted sNDA for ZORYVE cream 0.05% in infants with atopic dermatitis (PDUFA Feb 23, 2027)
- Completed enrollment of Phase 2 vitiligo study; topline results expected Q4 2026
Financial Impact
Q2 revenue $129.9M (+59% YoY); raised FY guidance by $45M at midpoint to $532.5M; net income $15.0M vs loss of -$15.9M YoY
Risk Factors
- Competition from other topical therapies in psoriasis and atopic dermatitis
- Execution risk on sales force expansion into primary care and pediatrics
- Pipeline setbacks (vitiligo Phase 2 data, ARQ-234 Phase 1a/1b)
- Dependence on ZORYVE franchise for all revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3339629 |
Track record builds as more directional reports settle.
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| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | Insider Cluster | $24.86 $26.38 | ▲ +6.11% | ▲ +5.87% | $25.16 (+1.21%) |
Aug 21, 2026 6w ago | Insider Cluster | $25.08 $25.96 | ▲ +3.51% | ▲ +4.04% | $25.16 (+0.32%) |
Aug 19, 2026 6w ago | Insider Cluster | $25.35 $25.38 | ▲ +0.12% | ▲ +0.12% | $25.16 (−0.75%) |
Aug 11, 2026 7w ago | 144 | $26.28 $23.38 | ▼ −11.04% | ▼ −9.14% | $25.16 (−4.26%) |
Aug 6, 2026 8w ago | Insider Cluster | $26.43 $23.66 | ▼ −10.48% | ▼ −11.08% | $25.16 (−4.81%) |
Aug 5, 2026 8w ago | Press Release | $26.43 $23.66 | ▼ −10.48% | ▼ −11.08% | $25.16 (−4.81%) |
Aug 3, 2026 8w ago | 144 | $26.03 $23.75 | ▼ −8.76% | ▼ −7.52% | $25.16 (−3.34%) |
Jun 29, 2026 13w ago | Press Release | $26.22 $27.84 | ▲ +6.18% | ▲ +7.21% | $25.16 (−4.04%) |
Jun 18, 2026 15w ago | Insider Cluster | $26.21 $27.74 | ▲ +5.84% | ▲ +5.30% | $25.16 (−4.01%) |
Jun 9, 2026 16w ago | 8-K | $23.23 $28.78 | ▲ +23.89% | ▲ +20.27% | $25.16 (+8.31%) |
US Market Status
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