Arcutis Biotherapeutics, Inc. · NASDAQ:ARQT
Arcutis Biotherapeutics — Q4 2024 Earnings Presentation
25 slides from Arcutis Biotherapeutics's earnings presentation, Feb 25, 2025
Slide 1: 4th Quarter 2024 Financial Results & Business Update
4th Quarter 2024 Financial Results & Business Update February 25, 2025
Slide 2: Legal Disclaimers
Legal Disclaimers This presentation and the accompanying oral presentation candidates, and our ability to serve those markets; our statements, whether written or oral, that may be made from time contain “forward-looking” statements that are based on our commercialization, marketing and manufacturing
Slide 3: Today's Speakers
Today’s Speakers Frank Watanabe Todd Edwards President & CEO Chief Commercial Officer Patrick Burnett, MD, PhD, FAAD David Topper Chief Medical Officer Chief Financial Officer ©Copyright 2025. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 3
Slide 4: Speakers & Agenda: Business Review
Speakers & Agenda Business Review Frank Watanabe President & CEO ©Copyright 2025. Arcutis Biotherapeutics, Inc. All rights reserved. Presentation designed for an investor audience. 4
Slide 5: Q4 Strong Finish to '24 Sets Foundation for '25 Growth
Q4 Strong Finish to ‘24 Sets Foundation for ‘25 Growth Q4 Product total revenues $71.4M, net product revenues $69.4M +55% vs. Q3 ‘24 / + 413% vs. Q4 ‘23 Full Year 2024 net product revenues $166.5M +471% vs. FY ’23 Slightly higher full year operating expenses vs ‘23 at $305.8M Excluding cost of sales
Slide 6: Progress in Expanding Total Patient Opportunity
Progress in Expanding Total Patient Opportunity Total U.S. ZORYVE Addressable Market 18 Underway Dermatologist Treated Patients 16 14 Millions of Patients Commercial Patients 8.6 12 10 Underway 8 17.0 Q4 ’25* Addressable through 6 3.7 Kowa Partnership 4 0.3 1.4 Addressable with Medicare/ Medicaid 2
Slide 7: Four Sizeable Tailwinds to Sustain ZORYVE Growth
Four Sizeable Tailwinds to Sustain ZORYVE Growth Steroid Indications Govt. Payor PCP/ Ped Conversion Expanding Expanding Expanding Penetrating the Label Coverage Prescriber Base Steroid Market PsO, Seb Derm, Commercial ~ 1 in 20 Topical Dermatology Only Rxs are Branded & AD Coverage Non-Steroids + S
Slide 8: Speakers & Agenda: Commercial Update
Speakers & Agenda Commercial Update Todd Edwards Chief Commercial Officer ©Copyright 2025. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 8
Slide 9: Strong Net Product Revenue Growth in Q4
Strong Net Product Revenue Growth in Q4 Net Product Revenues $M +55% +46% w/o • 2024 net product revenues of adjustment $69.4 $166.5M, +471% vs. prior year $7.5 • Strong sequential sales growth +45% continues $44.8 $31.1 • 46% QoQ growth in Q4, excluding +43% $2.5 non-recurring adjustment QoQ $30.9
Slide 10: Strong TRx Growth for ZORYVE Portfolio
Strong TRx Growth for ZORYVE Portfolio – Reaching ~16,000 Weekly TRx (Rolling 4-Week Basis) 17,000 15,000 Cream 0.15% (AD) Launch R4 WEEK WEEKLY TRX 13,000 TRx Growth 11,000 Foam Launch vs. Q3’24 vs. Q4’23 9,000 Q4’24 7,000 +44% +334% 5,000 3,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024
Slide 11: Key Growth Drivers in Q4 Pave the Way for 2025
Key Growth Drivers in Q4 Pave the Way for 2025 ZORYVE’s differentiated portfolio impact was amplified in Q4 and will continue in 2025 AD Launch Sales Force Versatile Rigorous Momentum Expansion Portfolio Execution ©Copyright 2025. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor
Slide 12: Robust Coverage Rate Delivering Stable GTN
Robust Coverage Rate Delivering Stable GTN ZORYVE Cream & Foam Reaching Blended GTN in the 50s is Steady State for Exceptional Overall Covered Prescriptions Portfolio High ZORYVE Cream 0.3% & 60s ~80% ZORYVE Foam 0.3% Low Prescriptions Covered by Insurance ZORYVE Cream 60s 0.3% only High 50s ZORYVE
Slide 13: Awareness Increasing & Message Resonating
Awareness Increasing & Message Resonating Dermatologist Share of Voice Competitive with other Branded oral and topical companies Unaided Awareness PsO Seb Derm AD Q2 '24 → Q4 '24 55% → 63% 75% → 88% 2% → 44% Most “ZORYVE is the first and only steroid-free topical approved for 3 Differentiated major
Slide 14: Driving Patient Awareness With the Iconic OBJ
Driving Patient Awareness With the Iconic OBJ “After trying to figure out the cause for several years, I finally visited my dermatologist who diagnosed me with seb derm and prescribed ZORYVE foam, which works really well for me. Now I want to help others understand the condition, find a treatment op
Slide 15: Largest Opportunity Is Converting Patients From Steroids and Antifungals to ZORYVE
Largest Opportunity Is Converting Patients From Steroids and Antifungals* to ZORYVE Plaque Psoriasis Seborrheic Dermatitis Atopic Dermatitis 3% 6% 7% 5% 16% 41% 56% 77% 89% Branded Non-Steroidal Topicals Branded Non-Steroidal Topicals Branded Non-Steroidal Topicals Steroids Steroids Steroids Vit D a
Slide 16: ZORYVE is Unique in Dermatology, With Multiple Formulations & Indications
ZORYVE is Unique in Dermatology, With Multiple Formulations & Indications Plaque Psoriasis Seborrheic Dermatitis Seborrheic Dermatitis Atopic Dermatitis No Scalp Involvement Scalp Involvement* 9M Patients 10M Patients 26M Patients ZORYVE Cream 0.3% ZORYVE Foam 0.3% ZORYVE Cream 0.15% Rapid, Reliable
Slide 17: Speakers & Agenda: R&D Update
Speakers & Agenda R&D Update Patrick Burnett, MD, PhD, FAAD Chief Medical Officer ©Copyright 2025. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 17
Slide 18: Continued Success With Clinical and Regulatory Milestones
Continued Success With Clinical and Regulatory Milestones Key Accomplishments / Milestones Indication Timing FDA Approval of ZORYVE Cream 0.3% Down to the Age of 6 Plaque PsO Seborrheic FDA Approval of ZORYVE Foam Down to the Age of 9 Dermatitis Positive INTEGUMENT-PED Topline in Ages 2-5 Atopic Der
Slide 19: Growing Consensus on Need for Shift from Steroids
Growing Consensus on Need for Shift from Steroids Pooled INTEGUMENT EASI-75 100 80 Patients, % (95% CI) 60 * * 42.7 40.9 40 * * 30.1 29.0 20.6 * 17.2 * 20 13.6 11.8 13.3 6.6 8.4 4.7 0 Week 1 Week 2 Week 4 Week 1 Week 2 Week 4 “..TCS have been a mainstay in AD but I think they’re going away….” - KOL
Slide 20: Speakers & Agenda: Financial Results
Speakers & Agenda David Topper Financial Results Chief Financial Officer ©Copyright 2025. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 20
Slide 21: Q4 2024 Financial Results
Q4 2024 Financial Results GAAP Reported $ Millions, Except Net Loss Per Share Q4 2024 Q4 2023 YoY Change Q3 2024 QoQ Change Product Revenues, Net $69.4* 13.5 55.8 $44.8 24.6 Other Revenues 2.0 - 2.0 0.0 2.0 Total Revenues $71.4 13.5 57.8 $44.8 26.6 Cost of Sales 6.9 2.2 4.7 5.5 1.4 R&D Expense 14.5
Slide 22: FY 2024 Financial Results
FY 2024 Financial Results GAAP Reported $ Millions, Except Net Loss Per Share FY 2024 FY 2023 YoY Change Product Revenues, Net $166.5 29.2 137.4 Other Revenues 30.0 30.4 (0.4) Total Revenues $196.5 59.6 136.9 Cost of Sales 19.1 5.0 14.1 R&D Expense 76.4 110.6 (34.2) SG&A Expense 229.4 185.1 44.2 Tot
Slide 23: Strong Cash Position Heading Into 2025
Strong Cash Position Heading Into 2025 $ Millions, except average shares GAAP Reported Cash Flow & Balance Sheet Data Q4 2024 Cash, cash equivalents, and marketable securities (Dec. 31, 2024) $228.6 Net cash used in operating activities 0.7 Total debt, net (Dec. 31, 2024) 107.2 Weighted average shar
Slide 24: Position of Strength Heading into 2025
Position of Strength Heading into 2025 Sustained revenue growth & increased operational leverage with new indications, expanded prescriber universe, & continued expansion of insurance coverage Continued strong momentum in launches Gradual conversion of topical steroid of ZORYVE cream for plaque psor
Slide 25: Thank You Q&A
Thank You Frank Watanabe Todd Edwards President & CEO Chief Commercial Officer Patrick Burnett, MD, PhD, FAAD David Topper Chief Financial Officer Q&A Chief Medical Officer ©Copyright 2025. Arcutis Biotherapeutics, Inc. All rights reserved. Presentation designed for an investor audience. 25
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