Arcutis Biotherapeutics, Inc. (ARQT) Earnings
Arcutis Biotherapeutics, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $0.04. ARQT has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +5.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.02 | $-0.09 | -350.0% | $105M | +1.7% |
| Feb 25, 2026 | $0.03 | $0.13 | +333.3% | $130M | +27.4% |
| Aug 6, 2025 | $-0.18 | $-0.13 | +27.8% | $82M | +1.1% |
| Aug 14, 2024 | $-0.48 | $-0.42 | +12.5% | $31M | +6.1% |
| Feb 27, 2024 | $-0.65 | $-0.72 | -10.8% | $14M | +19.3% |
| Nov 3, 2023 | $-0.90 | $-0.73 | +18.9% | $38M | +229.4% |
| Feb 28, 2023 | $-1.37 | $-1.18 | +13.9% | $3M | +34.4% |
| Aug 4, 2022 | $-1.38 | $-1.31 | +5.1% | — | — |
| May 5, 2022 | $-1.42 | $-1.27 | +10.6% | — | — |
| Feb 22, 2022 | $-1.41 | $-1.42 | -0.7% | — | — |
| Nov 4, 2021 | $-1.09 | $-1.14 | -4.6% | — | — |
| Aug 5, 2021 | $-0.91 | $-0.84 | +7.7% | — | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Frank introduced the grow, expand, build strategy. Todd provided a commercial update with net sales of $105.4M in Q1, 65% growth vs 2025 Q1, and discussed sales force expansion. Patrick gave R&D updates on progress in atopic dermatitis and psoriasis trials. Lata reviewed Q1 financial results, noting net product revenues up 65%, R&D and SG&A expenses changes, and maintained 2026 revenue guidance.
Guidance
Maintained revenue guidance for 2026 in the range of $480 million to $495 million. Anticipated sustained demand growth for Zareve and progress in various initiatives like sales force expansion and clinical trials.
Segment performance
In the first quarter, net product revenues were $105.4 million, up 65% from Q1 2025. The core Zareve business is the main driver, with growth in approved indications and expansion efforts contributing to its revenue. Details on sales performance in core indications and commercial activities are part of the segment performance description.
Risks & headwinds
No specific detailed discussion of major risks or operational failures explicitly stated in the provided transcript excerpt.
Analyst Q&A
Q: And our first question comes from the line of Andrew Tsai of Jefferies. Hey, good afternoon. Thanks for the nice set of updates. Thanks for taking my questions. So it sounds like gross net performed better than compared to last year, Q1 of last year. Can you guys maybe qualitatively describe what drove that better percentage? Was it something within your control? And what kind of positive impact could that have for the rest of the year? I know you kind of guided gross net for the rest of the year. Is it fair to assume blended gross net for this year could be better than the blended gross net for 2025?
A: Todd responded that better percentage was driven by improvements in formulary status with more preferred vs non-preferred position with some commercial plans, and discussed future gross net expectations.
Q: Next question from the line of Tyler Van Buren of TD County. Hey, guys. Thanks so much for taking the questions. Just to help quantify the quarter-over-quarter impact in the Q1 seasonality, as we compare to Q4, can you help us understand how much of that was the gross-to-net impact versus volume impacts from weather or Q4 pull-forward? And the second part or follow up is I understand that you're saying that Q2 sales will be above the first quarter. But do you believe it's likely that Q2 sales could significantly exceed the sales that were posted in Q4?
A: Todd addressed quarter-on-quarter seasonality impact, mentioned Q2 quarter to date Zareve has 13% growth vs Q1 and high confidence in Q2 growth.
Q: Next question from the line of Seamus Fernandez of Guggenheim Securities. Hi, this is Colleen on for Seamus. Thanks for taking our question. When thinking about this year's sales guidance, what are the assumptions driving the lower end of the guide? By our math and just based on the current prescription projectory, we're starting to struggle to land within the upper end of the guide and consensus looks to already be above. So just trying to understand the pushes and pulls to maintain the current guide.
A: Frank and Lata stated they updated guidance in February and don't intend to update soon, will evaluate trend as year progresses.
Q: Next question from the line of Tudor Farmer of Morgan Stanley. Yeah. Hi, guys. Thanks for taking the question. We appreciate kind of the updated trends on total scripts and the share being taken there. Anything you're noticing in NRX new scripts and any trends that are indicative of where TRX could move going forward? Thanks. You're talking absolute volume, share?
A: Todd responded Zareve drove 48% of new-to-brand RXs for branded non-steroidal topicals in Q1 and referenced NREX growth in Q2.
Q: Next question from the line of Oyer of Mizuho. Hey guys, yeah, thanks for taking our questions. Step two, if I may. The first question is, could you maybe just help us understand or quantify the opportunity from the infant's atopic dermatitis conditions? I think, Frank, you mentioned it was a significant opportunity. And and maybe just help us understand how you'll capture that opportunity. Is it primarily through the DERM Salesforce that you currently have or from building out the primary care pediatric Salesforce? That's the first question. The second question is, maybe Latha, The SCNA was lower than what I think we or the consensus expected, something like by 4 million. Now that you have the full Salesforce expansion, do you expect an uptick in the second quarter? Because I thought, if I heard correctly, I don't know what the starting point is, but you indicated that you were expecting a modest SG&A uptake in the back half of the year. So maybe just help us understand the cadence of spending for the year.
A: Patrick talked about infant atopic dermatitis opportunity from a dermatologist perspective, Todd discussed commercial capture via DERM and primary care sales force, Lata addressed SG&A spending cadence.
Q: Next question from the line of Serge Ballinger of Needham. Hi, good afternoon. Thanks for taking my question. The first one, just regarding coverage for Zoriv, do you expect to make any headways on what is remaining for Medicaid and Medicare coverage, or is that more of a 2027 event? Just curious, maybe if you can pull it forward to 2026. And then with the Salesforce expansion, you're going to be going to lower decile prescribers. Just curious how they differ from the higher decile. Obviously, volumes are lower, but do they tend to prescribe less topical products than the higher decile ones?
A: Todd responded on Medicaid/Medicare coverage progress and differences between lower and higher decile prescribers.
Q: Next question from the line of Richard Law of Goldman Sachs. Hi, everyone. This is Tawani. It's not on for Rich. Thanks for taking the questions. The first one on the primary and pediatric care setting. I'm curious if you could speak more to what you're doing differently than COWA in those settings. What areas were they not doing well that you think you can improve on? And then I have a follow-up.
A: Frank talked about differences in primary and pediatric care approach.
Q: Next question from the line of Richard Law of Goldman Sachs. And the second one on the foam in vitiligo and HS, what efficacy benchmarks would you say would be sufficient to give you confidence in continuing development in those two indications?
A: Patrick discussed efficacy benchmarks for vitiligo and HS trials