Arcutis Biotherapeutics(ARQT) - 2025 Q2 - Quarterly Results

Revenue Performance - Q2 2025 net product revenue for ZORYVE was $81.5 million, a 164% increase compared to Q2 2024, and a 28% increase compared to Q1 2025[4] - Product revenue for Q2 2025 reached $81.5 million, a significant increase from $30.9 million in Q2 2024, representing a growth of 164%[29] - Total revenues for the first half of 2025 were $147.4 million, compared to $80.4 million in the same period of 2024, marking an increase of 83%[29] Product Details - ZORYVE cream 0.3% generated $27.7 million, ZORYVE cream 0.15% generated $14.6 million, and ZORYVE topical foam 0.3% generated $39.2 million in revenue for Q2 2025[13] - Over 1 million prescriptions for ZORYVE have been dispensed, indicating strong clinician trust and demand for the product[3] - The company has begun investigating further indication expansion opportunities for ZORYVE, with two Phase 2 studies recently initiated[12] Regulatory Approvals - The FDA approved ZORYVE foam 0.3% for scalp and body psoriasis in adults and adolescents aged 12 and older, with sales commencing in June 2025[8] - The company received a Prescription Drug User Fee Act (PDUFA) action date of October 13, 2025, for the supplemental New Drug Application for ZORYVE cream 0.05%[8] - The company initiated the INTEGUMENT-INFANT study to evaluate ZORYVE cream 0.05% in infants aged 3 to 24 months with atopic dermatitis[4] Financial Performance - The company reported a net loss of $15.9 million, or $0.13 per share, for Q2 2025, compared to a net loss of $52.3 million, or $0.42 per share, for Q2 2024[17] - The net loss for Q2 2025 was $15.9 million, an improvement from a net loss of $52.3 million in Q2 2024[29] - The net loss per share for Q2 2025 was $0.13, compared to $0.42 in Q2 2024, indicating a reduction in loss per share[29] - The company reported a loss from operations of $14.6 million in Q2 2025, an improvement from a loss of $50.1 million in Q2 2024[29] Expenses - Selling, general, and administrative expenses for Q2 2025 were $69.2 million, an increase from $58.2 million in Q2 2024, primarily due to increased sales and marketing efforts[16] - Operating expenses for Q2 2025 totaled $96.1 million, up from $80.9 million in Q2 2024, reflecting a rise of 18%[29] - Selling, general, and administrative expenses increased to $133.2 million in the first half of 2025 from $113.0 million in the same period of 2024, an increase of 18%[29] - Research and development expenses for the first half of 2025 were $37.0 million, slightly lower than $42.4 million in the first half of 2024, a decrease of 13%[29] Other Financial Metrics - Cash, cash equivalents, restricted cash, and marketable securities totaled $191.1 million as of June 30, 2025, down from $228.6 million at the end of 2024[18] - Other income for Q2 2025 was $2.1 million, down from $5.2 million in Q2 2024, a decrease of 60%[29] - Interest expense decreased to $3.0 million in Q2 2025 from $7.5 million in Q2 2024, a reduction of 60%[29]