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ARCT

Arcturus Therapeutics Holdings Inc.

ARCT

Arcturus Therapeutics Holdings Inc. • NASDAQ
$6.79 ▼ -0.15% (-0.01)
Market Cap $184.19 M
52w High $24.17
52w Low $5.85
Dividend Yield 0%
P/E -2.76
Volume 302.01K
Outstanding Shares 27.13M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $17.151M ▼ $30.321M ▼ $-13.448M ▼ -78.409% ▼ $-0.49 ▼ $-12.685M ▼
Q2-2025 $24.51M ▼ $36.126M ▼ $-9.18M ▲ -37.454% ▲ $-0.34 ▲ $-10.837M ▲
Q1-2025 $29.382M ▲ $46.208M ▼ $-14.076M ▲ -47.907% ▲ $-0.52 ▲ $-16.025M ▲
Q4-2024 $21M ▼ $54.394M ▲ $-30.005M ▼ -142.881% ▼ $-1.11 ▼ $-29.19M ▼
Q3-2024 $38.815M $49.552M $-6.903M -17.784% $0.14 $-6.208M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $180.36M ▼ $282.343M ▼ $57.784M ▼ $224.559M ▼
Q2-2025 $196.467M ▼ $309.27M ▼ $78.217M ▼ $231.053M ▼
Q1-2025 $216.948M ▼ $331.785M ▼ $98.026M ▼ $233.759M ▼
Q4-2024 $237.028M ▼ $344.069M ▼ $103.091M ▼ $240.978M ▼
Q3-2024 $237.178M $370.654M $108.788M $261.866M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-13.448M ▼ $-17.151M ▼ $-181K ▼ $1.225M ▲ $-16.107M ▲ $-17.332M ▼
Q2-2025 $-9.18M ▲ $-5.755M ▲ $0 ▲ $-14.726M ▼ $-20.481M ▼ $-5.755M ▲
Q1-2025 $-14.076M ▲ $-35.138M ▼ $-137K ▼ $15.195M ▲ $-20.08M ▼ $-35.275M ▼
Q4-2024 $-30.005M ▼ $-284K ▲ $0 ▲ $134K ▼ $-150K ▲ $-284K ▲
Q3-2024 $-6.903M $-23.764M $-80K $693K $-23.151M $-23.844M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Collaboration Revenue
Collaboration Revenue
 $20.00M ▲$30.00M ▲$20.00M ▼$10.00M ▼
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Arcturus looks like a typical clinical‑stage biotech: revenue is small, lumpy, and not yet driven by commercial products. It has swung between a small profit and losses over the past few years, with the most recent years back in loss‑making territory. The big driver is spending on research and development, which keeps operating and net income negative. Overall, the income statement shows a company still firmly in the investment phase rather than in a steady, revenue‑generating phase.

Balance Sheet

Balance Sheet The balance sheet is cash‑heavy and conservatively financed. Cash makes up a large share of total assets, and debt levels are low relative to both assets and equity. Equity remains positive, though it has moved around as the company books losses and occasionally raises or consumes capital. This structure gives Arcturus some financial flexibility to fund trials, but the balance sheet is not large enough to support a long period of heavy cash burn without additional funding or partnership inflows.

Cash Flow

Cash Flow Cash flow from operations has been negative in most years, with only a brief period of positive operating cash tied to one stronger year. Free cash flow mirrors this, as capital spending is minimal; the main use of cash is running the business and advancing the pipeline. This pattern signals ongoing dependence on cash reserves, milestone payments, grants, or capital markets to sustain operations until meaningful product revenue emerges.

Competitive Edge

Competitive Edge Arcturus competes in a crowded and rapidly evolving mRNA and genetic medicine space, but it has carved out a differentiated niche. Its self‑amplifying mRNA and LUNAR delivery platforms aim to deliver similar or better effects at lower doses, which could translate into safety and cost advantages. A sizable patent portfolio and collaborations with larger pharma groups strengthen its position and provide external validation. That said, it still competes against much larger, better‑funded peers, and its moat will only be proven if late‑stage trial results and real‑world outcomes match the promise of its technology.

Innovation and R&D

Innovation and R&D Innovation is the core of Arcturus. The company is betting on self‑amplifying mRNA and customized lipid nanoparticles as the next step beyond first‑generation mRNA therapies. Lead programs in rare liver disease (OTC deficiency) and cystic fibrosis show how the platform can target high‑need areas where existing treatments are limited. Regulatory designations support the novelty and potential impact, but the pipeline is still in clinical stages, with substantial scientific, regulatory, and execution risk. Future value hinges heavily on trial progress, safety and efficacy data, and the ability to expand the platform into additional diseases.

Summary

Arcturus is an early‑stage mRNA platform company: scientifically ambitious, financially still in the build‑out phase. The financials show limited and uneven revenue, recurring losses, and negative cash flow, but also a strong cash position relative to its size and low reliance on debt. Its edge lies in proprietary platform technologies, a growing rare‑disease pipeline, and strategic partnerships that partially offset funding needs. The main opportunities are successful late‑stage data and expansion of its technology into more indications; the main risks are trial setbacks, regulatory hurdles, intense competition from larger mRNA players, and the ongoing need to fund operations until sustainable product revenue is achieved.

NEWS

November 24, 2025 · 4:01 PM UTC

Arcturus Therapeutics to Attend Upcoming Investor Conference

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November 10, 2025 · 4:01 PM UTC

Arcturus Therapeutics Announces Third Quarter 2025 Financial Update and Pipeline Progress

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November 10, 2025 · 2:40 PM UTC

INVESTIGATION ALERT: Edelson Lechtzin LLP Announces Investigation of Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) and Encourages Investors with Substantial Losses to Contact the Firm

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October 28, 2025 · 4:01 PM UTC

Arcturus Therapeutics to Report Third Quarter Financial Results and Provide Corporate Update on November 10, 2025

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October 28, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Arcturus Therapeutics Holdings Inc. - ARCT

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