The EPS miss may pressure the stock near-term, but strong revenue growth and maintained guidance provide support. Watch for next quarter's revenue trajectory to see if sequential decline reverses and for pipeline updates (sNDA for infant atopic dermatitis, Phase 2 data in vitiligo/HS).
Price Chart
Executive Summary
Arcutis Biotherapeutics reported Q1 2026 net product revenue of $105.4M (+65% YoY), beating consensus of $103.7M, but EPS of -$0.09 missed consensus of -$0.06. Full-year 2026 revenue guidance of $480M-$495M was maintained. The stock may face pressure from the EPS miss despite strong revenue growth and positive operating cash flow.
Key Financial Metrics
Key Facts
- Q1 2026 net product revenue $105.4M, +65% YoY vs $63.8M, beating $103.7M consensus
- GAAP EPS -$0.09 vs consensus -$0.06 (miss of 50%)
- Full-year 2026 revenue guidance maintained at $480M-$495M
- Positive operating cash flow of $2.2M in Q1 2026
- Sequential revenue declined 17% from Q4 2025 due to seasonality
- ZORYVE remains leading prescribed branded topical across three indications
- Completed dermatology sales force expansion; building primary care/pediatrics team
Financial Impact
Revenue beat by 1.6% ($1.7M), EPS missed by 50% (-$0.03 per share). Net loss improved to -$11.3M from -$25.1M YoY.
Risk Factors
- Sequential revenue decline due to seasonality may persist
- High SG&A expenses ($74.1M) burden profitability
- Dependence on ZORYVE for all revenue; pipeline candidates early-stage
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3289285 |
Filters
| 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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