ARCUTIS BIOTHERAPEUTICS Reports Second Quarter FY2023 Earnings Results on August 8th
August 13, 2023
🌥️Earnings Overview
On August 8, 2023, ARCUTIS BIOTHERAPEUTICS ($NASDAQ:ARQT) reported their earnings for the second quarter of FY 2023 (ending June 30, 2023). Total revenue was USD 5.2 million, a significant rise from the 0.0 million reported in the same quarter of the previous year. However, net income decreased to USD -71.0 million from -67.4 million reported in the same quarter of the prior year.
Price History
The stock opened at $9.5 and closed at $9.8, marking a 2.6% increase from the prior closing price of $9.6. This was the first quarterly report since the company went public in April, and investors clearly found the results encouraging. Overall, the report was seen as a strong start for ARCUTIS BIOTHERAPEUTICS and a promising indication for future growth. Given the positive results, investors remain optimistic about the company’s future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Arcutis Biotherapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 11.66 | -330.82 | -2837.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Arcutis Biotherapeutics. More…
| Operations | Investing | Financing |
| -285.59 | 41.81 | 287.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Arcutis Biotherapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 320.69 | 240.18 | 1.31 |
Key Ratios Snapshot
Some of the financial key ratios for Arcutis Biotherapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -2613.1% |
| FCF Margin | ROE | ROA |
| -2651.0% | -172.9% | -59.4% |
Analysis
At GoodWhale, we analyze ARCUTIS BIOTHERAPEUTICS‘s financials to provide investors with an informed decision-making process. Based on our Risk Rating, ARCUTIS BIOTHERAPEUTICS is a medium risk investment in terms of financial and business aspects. GoodWhale has detected 2 risk warnings in balance sheet, cashflow statement. These are vital to consider before making an investment decision. If you would like to explore the risks and potential rewards associated with this investment, we recommend registering with us. Once registered, you can access our reports and evaluations of ARCUTIS BIOTHERAPEUTICS’s financials in order to make the best possible decision. More…
Peers
The biopharmaceutical industry is highly competitive, and Arcutis Biotherapeutics Inc is no different. It faces competition from other major players such as Gene Biotherapeutics Inc, Reviva Pharmaceuticals Holdings Inc and Aligos Therapeutics Inc. All of these companies are vying for market share in order to gain a foothold in this rapidly expanding field. Arcutis Biotherapeutics Inc is currently leading the charge, but it remains to be seen how the competition between these companies will play out over time.
– Gene Biotherapeutics Inc ($OTCPK:CRXM)
Gene Biotherapeutics Inc is a biotechnology company focused on the discovery and development of novel nucleic acid-based therapeutics. The company has a market capitalization of 6.49k as of 2023, making it a small-cap stock. Its return on equity (ROE) is 10.16%, indicating the company’s strong profitability. The company’s research and development activities have enabled it to produce successful drugs for treating cancer and other diseases, which has contributed to its strong financial performance.
– Reviva Pharmaceuticals Holdings Inc ($NASDAQ:RVPH)
Reviva Pharmaceuticals Holdings Inc is a specialty pharmaceutical company focused on developing prescription medications that address unmet medical needs in the United States and international markets. The company has a market cap of 89.74M as of 2023, which indicates the company’s stock’s market price in comparison to its outstanding shares. It also has a Return on Equity of -69.4%, which means that for every dollar of shareholders’ equity, Reviva is generating negative returns. This indicates that the company is not performing well financially, and that it may need to make adjustments to its strategies and operations in order to increase its ROE.
– Aligos Therapeutics Inc ($NASDAQ:ALGS)
Aligos Therapeutics Inc is a biopharmaceutical company that focuses on the development of novel treatments for liver and renal diseases. As of 2023, the company has a market capitalization of 70.22M. The return on equity (ROE) of the company stands at -54.46%, indicating that the company is not performing well in terms of generating returns for its shareholders. The current market capitalization and ROE of Aligos Therapeutics suggest that investors are cautious about investing in the company due to its poor financial performance.
Summary
ARCUTIS BIOTHERAPEUTICS reported strong revenue growth for the second quarter of FY2023, with total revenue rising to USD 5.2 million from 0.0 million in the same quarter of the previous year. However, net income decreased to USD -71.0 million from -67.4 million in the same period last year. Investors considering investing in ARCUTIS BIOTHERAPEUTICS should take note of these results and analyze further whether the company can continue its revenue growth while improving profitability. They should also look into the company’s competitive position, product pipeline, and other factors that may have an impact on their future performance.
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