Arcutis (ARQT) Soars to Record High on Swing to Profitability, ‘More-Than-Double’ Revenues

Core Insights - Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) achieved a record high stock price following a strong earnings report for Q3, with revenues more than doubling and a swing to profitability [1][2] - The company reported a net profit of $7.4 million in Q3, a significant turnaround from a net loss of $41.5 million in the same quarter last year [1][2] Financial Performance - Total revenues for Q3 increased by 121% to $99 million, up from $44.7 million in the same period last year [2] - For the nine-month period, Arcutis reported a net loss of $33.5 million, which is 74% lower than the $129 million loss in the previous year [2] - Year-to-date revenues surged by 97% to $246 million, compared to $125 million in the same timeframe last year [2] Future Outlook - The company is targeting net revenues between $455 million and $470 million for the next year [2] - The CEO emphasized the potential for sustained long-term growth and plans to reinvest in the ZORYVE franchise and expand the pipeline with new dermatology-focused molecules [2]