Arcutis Announces Preliminary Unaudited Fourth Quarter Product Revenue and Full-Year 2024 Product Revenues of Approximately $63 Million and $160 Million
Arcutis Biotherapeutics (ARQT) announced preliminary unaudited financial results for Q4 and full-year 2024. Q4 2024 product revenue is expected to reach approximately $63 million, showing a 366% increase compared to Q4 2023 and 41% growth from Q3 2024. Full-year 2024 product revenue is anticipated at approximately $160 million, up 449% from 2023.
The company's growth was driven by strong demand across all ZORYVE® (roflumilast) indications, maintaining similar gross-to-net (GTN) levels as the previous quarter. As of December 31, 2024, preliminary cash, cash equivalents, restricted cash, and marketable securities stood at approximately $229 million. The company previously repaid $100 million of long-term debt to SLR Investment Corp., with an option to re-draw approximately $100 million by first half 2026, bringing total liquidity to approximately $329 million.
Arcutis Biotherapeutics (ARQT) ha annunciato risultati finanziari preliminari non verificati per il quarto trimestre e per l'intero anno 2024. Si prevede che il fatturato da prodotto del Q4 2024 raggiunga circa 63 milioni di dollari, mostrando un incremento del 366% rispetto al Q4 2023 e una crescita del 41% rispetto al Q3 2024. Il fatturato da prodotto per l'anno intero 2024 è previsto attorno ai 160 milioni di dollari, con un aumento del 449% rispetto al 2023.
La crescita dell'azienda è stata guidata da una forte domanda in tutte le indicazioni di ZORYVE® (roflumilast), mantenendo livelli simili di gross-to-net (GTN) rispetto al trimestre precedente. Alla data del 31 dicembre 2024, le disponibilità liquide, equivalenti liquidi, cash riservato e titoli negoziabili ammontavano a circa 229 milioni di dollari. L'azienda ha precedentemente rimborsato 100 milioni di dollari di debito a lungo termine a SLR Investment Corp., con la possibilità di riutilizzare circa 100 milioni di dollari entro la prima metà del 2026, portando la liquidità totale a circa 329 milioni di dollari.
Arcutis Biotherapeutics (ARQT) anunció resultados financieros preliminares no auditados para el cuarto trimestre y el año completo de 2024. Se espera que los ingresos por productos del Q4 2024 alcancen aproximadamente 63 millones de dólares, lo que representa un aumento del 366% en comparación con el Q4 2023 y un crecimiento del 41% respecto al Q3 2024. Se anticipa que los ingresos por productos del año completo de 2024 sean de aproximadamente 160 millones de dólares, un aumento del 449% respecto a 2023.
El crecimiento de la empresa fue impulsado por una fuerte demanda en todas las indicaciones de ZORYVE® (roflumilast), manteniendo niveles similares de gross-to-net (GTN) que el trimestre anterior. A partir del 31 de diciembre de 2024, el efectivo preliminar, equivalentes de efectivo, efectivo restringido y valores negociables se situaron en aproximadamente 229 millones de dólares. La empresa reembolsó previamente 100 millones de dólares de deuda a largo plazo a SLR Investment Corp., con la opción de volver a retirar aproximadamente 100 millones de dólares en la primera mitad de 2026, llevando la liquidez total a aproximadamente 329 millones de dólares.
Arcutis Biotherapeutics (ARQT)는 2024년 4분기 및 전체 연도에 대한 예비 미감사 재무 결과를 발표했습니다. 2024년 4분기 제품 수익은 약 6300만 달러에 이를 것으로 예상되며, 이는 2023년 4분기 대비 366% 증가하고 2024년 3분기 대비 41% 성장한 수치입니다. 2024년 전체 연도 제품 수익은 약 1억6000만 달러로 예상되며, 2023년 대비 449% 증가한 것입니다.
회사의 성장은 ZORYVE® (로플루밀라스트)의 모든 적응증에 대한 강력한 수요에 의해 촉진되었으며, 이전 분기와 유사한 총수익(GTN) 수준을 유지하고 있습니다. 2024년 12월 31일 기준으로, 예비 현금, 현금성 자산, 제한된 현금 및 유가증권은 약 2억2900만 달러에 달했습니다. 회사는 이전에 SLR Investment Corp.에 장기 부채 1억 달러를 상환했으며, 2026년 상반기까지 약 1억 달러를 재인출할 수 있는 옵션이 있어 총 유동성은 약 3억2900만 달러에 달합니다.
Arcutis Biotherapeutics (ARQT) a annoncé des résultats financiers préliminaires non audités pour le quatrième trimestre et l'année complète 2024. On s'attend à ce que le chiffre d'affaires des produits du T4 2024 atteigne environ 63 millions de dollars, ce qui représente une augmentation de 366 % par rapport au T4 2023 et une croissance de 41 % par rapport au T3 2024. Le chiffre d'affaires des produits pour l'année entière 2024 est anticipé à environ 160 millions de dollars, soit une hausse de 449 % par rapport à 2023.
La croissance de l'entreprise a été stimulée par une forte demande pour toutes les indications de ZORYVE® (roflumilast), maintenant des niveaux de brut-à-net (GTN) similaires à ceux du trimestre précédent. Au 31 décembre 2024, le montant préliminaire de trésorerie, d'équivalents de trésorerie, de trésorerie réservée et de titres négociables s'élevait à environ 229 millions de dollars. L'entreprise a précédemment remboursé 100 millions de dollars de dettes à long terme à SLR Investment Corp., avec la possibilité de redemander environ 100 millions de dollars d'ici la première moitié de 2026, portant la liquidité totale à environ 329 millions de dollars.
Arcutis Biotherapeutics (ARQT) hat vorläufige, nicht testierte Finanzzahlen für das 4. Quartal und das Gesamtjahr 2024 bekannt gegeben. Der Produktumsatz im Q4 2024 wird voraussichtlich etwa 63 Millionen Dollar erreichen, was einem Anstieg von 366 % im Vergleich zum Q4 2023 und einem Wachstum von 41 % im Vergleich zum Q3 2024 entspricht. Der Produktumsatz für das Gesamtjahr 2024 wird auf etwa 160 Millionen Dollar geschätzt, was einem Anstieg von 449 % gegenüber 2023 entspricht.
Das Wachstum des Unternehmens wurde durch eine starke Nachfrage nach allen Indikationen von ZORYVE® (Roflumilast) vorangetrieben, wobei ähnliche Brutto-Netto (GTN) Niveaus wie im vorherigen Quartal beibehalten wurden. Am 31. Dezember 2024 beliefen sich die vorläufigen Zahlungsmittel, Zahlungsmitteläquivalente, eingeschränkten Zahlungsmittel und handelbare Wertpapiere auf etwa 229 Millionen Dollar. Das Unternehmen hat zuvor 100 Millionen Dollar an langfristigen Schulden gegenüber SLR Investment Corp. zurückgezahlt, mit der Möglichkeit, bis zur ersten Hälfte des Jahres 2026 etwa 100 Millionen Dollar erneut abzurufen, wodurch die Gesamtl Liquidität auf etwa 329 Millionen Dollar ansteigt.
- Q4 2024 revenue grew 366% YoY to $63 million
- Full-year 2024 revenue increased 449% YoY to $160 million
- Strong quarter-over-quarter growth of 41% in Q4 2024
- Robust liquidity position of $329 million including available debt
- Option to re-draw $100 million debt through H1 2026
- None.
Insights
The preliminary Q4 results demonstrate exceptional commercial execution with product revenue of
The company's financial position appears solid with
The consistent gross-to-net margins and robust unit growth across the portfolio suggest effective pricing strategies and growing market acceptance. The partnership with Kowa for primary care and pediatric practices expansion presents significant upside potential for 2025 revenue growth.
The ZORYVE franchise's rapid market penetration is particularly impressive in the competitive dermatology space. The sequential quarterly growth acceleration from Q3 to Q4 2024 indicates successful commercial strategy execution and expanding market reach. The maintained gross-to-net metrics suggest strong pricing power and effective market access strategies.
The upcoming expansion into primary care and pediatric practices through the Kowa partnership represents a significant market opportunity. This strategic move could potentially double the addressable market size and drive sustained growth momentum through 2025. The multi-indication strategy for ZORYVE is proving successful, with strong demand across all approved indications contributing to the revenue mix.
- Preliminary unaudited product revenue for the fourth quarter of 2024 is expected to be approximately
$63 million , up approximately366% vs. Q4 2023 and41% vs. Q3 2024 - Preliminary unaudited product revenue for the full-year 2024 is expected to be approximately
$160 million , up approximately449% vs. 2023 - Robust unit growth across the portfolio with gross-to-net (GTN) similar to prior quarter
- Preliminary unaudited cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2024 are expected to be approximately
$229 million - Company to release complete fourth quarter and full year 2024 financial results and host a conference call and webcast on February 25, 2025 at 4:30 p.m. EST
WESTLAKE VILLAGE, Calif., Jan. 12, 2025 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today announced certain preliminary unaudited financial information for the fourth quarter and full-year 2024.
Preliminary Fourth Quarter and Full-Year 2024 Financial Information
- Preliminary unaudited product revenue for the fourth quarter of 2024 is expected to be approximately
$63 million , representing growth of approximately366% as compared to the fourth quarter of 2023 and approximately41% as compared to the third quarter of 2024. Preliminary unaudited product revenue for the full-year 2024 is expected to be approximately$160 million , representing growth of approximately449% vs. 2023 - Revenue growth in the fourth quarter across the franchise was driven by strong demand for all ZORYVE® (roflumilast) indications, while GTN was similar to the prior quarter
- Preliminary cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2024 are expected to be approximately
$229 million - As previously reported, the Company repaid
$100 million of its long-term debt held by SLR Investment Corp. and has the option to re-draw approximately$100 million by the first half of 2026 making total liquidity as of December 31, 2024 from cash, cash equivalents, restricted cash, marketable securities, and available debt equal to approximately$329 million
“We are excited by the significant sales momentum and robust revenue growth we continue to generate in our business, driven by expanding demand for our entire ZORYVE franchise,” said Frank Watanabe, president and chief executive officer of Arcutis. “We anticipate sustained ZORYVE sales growth throughout 2025 as our multiple product launches gain further traction and we secure new approvals, expand insurance coverage, and broaden access to primary care and pediatric practices through our commercial partnership with Kowa.”
Management will host in-person investor meetings in San Francisco, CA, around the 43rd Annual J.P. Morgan Healthcare Conference, being held January 13-16, 2025.
Arcutis has not completed preparation of its financial statements for the fourth quarter or full-year 2024. The financial information as of and for the fourth quarter and full-year 2024 presented in this release are preliminary and unaudited and are subject to the close of the quarter and year, completion of our quarter-end and year-end closing procedures, and further financial review. Our independent registered public accounting firm has not audited, reviewed, compiled, or performed any procedures with respect to this financial information. Our actual results may differ from these estimates as a result of the completion of our quarter-end and year-end closing procedures, review adjustments, and other developments that may arise between now and the time our financial results for the fourth quarter and full year are finalized.
Arcutis will report complete fourth quarter and full-year 2024 financial results and provide a business update on Tuesday, February 25, 2025 after the U.S. financial markets close. The Company will also host a conference call and webcast the same day at 4:30 p.m. EST. A live webcast of the call and the presentation materials will be available on the “Events” section of the Company’s website. An archived replay of the webcast will be available on the Arcutis investor website following the conference call.
About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis has a growing portfolio including three FDA approved products that harness our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including scalp and body psoriasis, atopic dermatitis, and alopecia areata. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, Instagram, and X.
Forward-Looking Statements
Arcutis cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements which include, but are not limited to, statements regarding commercial execution, regulatory timelines, progress on product access and adoption, and preliminary unaudited financial information as of and for the fourth quarter and full-year 2024. These statements are based on the Company’s current beliefs and expectations. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, the timing and expenses of commercialization efforts, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 27, 2024, as well as any subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contacts
Media
Amanda Sheldon, Head of Corporate Communications
media@arcutis.com
Investors
Latha Vairavan, Vice President, Finance and Corporate Controller
ir@arcutis.com
FAQ
What was ARQT's Q4 2024 revenue growth compared to Q4 2023?
How much did ARQT's full-year 2024 revenue increase compared to 2023?
What is ARQT's current liquidity position as of December 31, 2024?
What drove ARQT's revenue growth in Q4 2024?
When will ARQT release complete Q4 and full-year 2024 results?
