Arcutis Biotherapeutics, Inc. · NASDAQ:ARQT
Arcutis Biotherapeutics — Q4 2025 Earnings Presentation
24 slides from Arcutis Biotherapeutics's earnings presentation, Feb 25, 2026
Slide 1: Quarter and Full Year 2025 Financial Results
4 Quarter and Full Year th 2025 Financial Results February 25, 2026
Slide 2: Legal Disclaimers
Legal Disclaimers This presentation and the accompanying oral presentation contain manufacturing capabilities and strategy; current and future the accompanying oral presentation are made pursuant to the forward-looking statements within the meaning of Section 27A of agreements with third parties in
Slide 3: Today's Speakers
Today’s Speakers Frank Watanabe Todd Edwards Patrick Burnett, Latha Vairavan President & CEO Chief Commercial MD, PhD, FAAD Chief Financial Officer Officer Chief Medical Officer ©Copyright 2026. 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 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 4
Slide 5: 2025 Was a Groundbreaking Year for Arcutis
2025 Was a Groundbreaking Year for Arcutis Key Commercial Highlights R&D and Regulatory Achievements ZORYVE topical foam 0.3% approved for scalp and body PsO in adults and adolescents 12 years of age and older Full year 2025, net product $372.1 mm revenue: ZORYVE cream 0.05% approved for AD in child
Slide 6: Our Strategy to Sustain Near- and Long-term Growth
Our Strategy to Sustain Near- and Long-term Growth Grow current Expand ZORYVE Build our pipeline ZORYVE business into new markets • Positive topline data • Continue to enroll Ph2 • Preparing to enroll INTEGUMENT-INFANT POC trials in vitiligo Ph1 trial for ARQ-234 • Expansion of and hidradenitis derm
Slide 7: Speakers & Agenda: Commercial Update
Speakers & Agenda Commercial Update Todd Edwards Chief Commercial Officer ©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 7
Slide 8: Meaningful Increase of Net Product Revenues in Q4 2025
Meaningful Increase of Net Product Revenues in Q4 2025 Net Product Revenues $M • Q4 ‘25 net product revenues of 127.5 $127.5M, +84% vs. prior year – +29% net product revenues quarter 99.2 over quarter 81.5 • Quarter-over-quarter sales growth driven by strong demand and 63.8 improved pricing • GTN st
Slide 9: Steady TRx Growth for ZORYVE Portfolio
Steady TRx Growth for ZORYVE Portfolio – Reaching ~22,000 Weekly TRx (Rolling 4-Week Basis) 25,000 22,500 20,000 TRx Growth 17,500 Foam 0.30% Cream 0.15% R4 WEEK WEEKLY TR 15,000 (SebD) Launch (AD) Launch vs. Q3’25 vs. Q4’24 12,500 Cream 0.05% (AD) Launch 10,000 Foam 0.30% 7,500 (PsO) Launch Q4’25 +
Slide 10: Substantial Growth Opportunity Remains as Segment Expansion Continues to be Driven by ZORYVE
Substantial Growth Opportunity Remains as GROW Segment Expansion Continues to be Driven by ZORYVE Volume Growth Since Q1’24 Share of Dermatology Topical Rx R-4 Week TRx Share 100% 280 262% ~24M Prescriptions* 8% 90% 260 15% 7% 80% 240 8% 220 70% 200 194% 60% 32% 19% % vs Q1’24 180 50% 160 40% 140 13
Slide 11: Dermatology Sales Force Expansion Will Enable Higher Call Frequency on Mid-Decile Writers
Dermatology Sales Force Expansion Will Enable GROW Higher Call Frequency on Mid-Decile Writers HIGH-DECILE MID-DECILE LOW-DECILE PRESCRIBERS1 PRESCRIBERS1 PRESCRIBERS1 ~3.6K total topical ~1.7K total topical ~0.5K total topical Prescriber prescriptions per provider prescriptions per provider prescri
Slide 12: Investing in Growth with a Targeted Primary Care and Pediatric Sales Force
Investing in Growth with a Targeted Primary Care GROW and Pediatric Sales Force The Arcutis Advantage in PCP / Peds Selective Targeting of Highest Value PCPs and PEDs Initiating a targeted Providing Product Reimbursement approach focusing on Support to PCP and PED offices highest-volume primary care
Slide 13: Celebrity Endorsements Offer Cost-Effective Approach to Building Patient Awareness
Celebrity Endorsements Offer Cost-Effective Approach to Building Patient Awareness Max Homa Stella McDermot Tori Spelling Seb derm patient Seb derm and eczema patient Eczema patient ZORYVE foam 0.3% user ZORYVE foam 0.3%, ZORYVE ZORYVE cream 0.15% user cream 0.15% user ©Copyright 2026. Arcutis Bioth
Slide 14: Speakers & Agenda: R&D Update
Speakers & Agenda R&D Update Patrick Burnett, MD, PhD, FAAD Chief Medical Officer ©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 14
Slide 15: INTEGUMENT-INFANT Topline Results
INTEGUMENT-INFANT Topline Results ~60% of Patients Achieved EASI-75 at Week 4 Age – 45 weeks (10.4 months) White, Hispanic/Latino, male Baseline Week 4 80% 70% 60% % of Patients 50% 40% 30% 58.3% 20% 34.0% 10% 0% Week 2 Week 4 (n=100) (n=96) 0.05% Roflumilast Baseline Week 4 Visit EASI Baseline 13 W
Slide 16: Our Label Expansion Efforts Aim to Progress ZORYVE for the Treatment of Pediatric Patients
Our Label Expansion Efforts Aim to Progress GROW ZORYVE for the Treatment of Pediatric Patients • ZORYVE cream 0.05% for treatment of atopic dermatitis patients ages 2-5 approved October 2025 • New Ph3 INTEGUMENT-OLE data highlight long-term safety and durable efficacy, including long- term disease
Slide 17: Proof of Concept Studies Will Guide Further ZORYVE Label Expansions
Proof of Concept Studies Will Guide Further ZORYVE EXPAND Label Expansions Structured studies to confirm signal reported by clinicians in case reports and case series Ph2a Approach built for efficiency with modest patient size POC Studies (e.g., ~20-30 patients) allowing for: • Low capital investmen
Slide 18: Emerging Evidence of ZORYVE Efficacy in Vitiligo and Hidradenitis Suppurativa
Indication Expansions Emerging Evidence of ZORYVE Efficacy in Vitiligo EXPAND and Hidradenitis Suppurativa Recalcitrant Pediatric Facial Vitiligo Successfully Topical Roflumilast 0.3% Cream for Mild Hidradenitis Treated with Roflumilast Cream 0.3% Once Daily Suppurativa: A Prospective Case Series By
Slide 19: Near-Term Clinical Catalysts
Near-Term Clinical Catalysts CLINICAL AND REGULATORY DEVELOPMENTS Topline data for ZORYVE cream 0.05% in infants Atopic dermatitis Q1 2026 Begin enrollment of Phase 1 trial of ARQ-234 Atopic dermatitis Q1 2026 Submit sNDA for ZORYVE cream 0.05% in infants Atopic dermatitis Q2 2026 sNDA PDUFA for ZOR
Slide 20: Speakers & Agenda: Financial Results
Speakers & Agenda Financial Results Latha Vairavan Chief Financial Officer ©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 20
Slide 21: Q4 2025 Financial Results
Q4 2025 Financial Results GAAP Reported $ Millions, Except Per Share Amounts Q4 2025 Q4 2024 YoY Change Q3 2025 QoQ Change Product Revenues, Net 127.5 69.4 58.1 $99.2 28.3 Other Revenues 2.0 2.0 (0.0) 0.0 2.0 Total Revenues $129.5 71.4 58.1 $99.2 30.3 Cost of Sales 11.7 6.9 4.8 8.7 3.0 R&D Expense 2
Slide 22: FY 2025 Financial Results
FY 2025 Financial Results GAAP Reported $ Millions, Except Per Share Amounts FY 2025 FY 2024 YoY Change Product Revenues, Net 372.1 166.5 205.5 Other Revenues 4.0 30.0 (26.0) Total Revenues $376.1 196.5 179.5 Cost of Sales 36.7 19.1 17.6 R&D Expense 77.1 76.4 0.6 SG&A Expense 274.6 229.4 45.2 Total
Slide 23: Positive Cash Flow Generation from ZORYVE Franchise Allows for Investment to Sustain Growth
Positive Cash Flow Generation from ZORYVE Franchise Allows for Investment to Sustain Growth 2026 Guidance Capital Allocation Balance Sheet Strength Product Sales of Reinvest ZORYVE $221M Q4’25 Cash Balance* $480M-$495M Proceeds in Franchise and Building Pipeline $108M Long-term Debt, Net Sustain Pos
Slide 24: Q&A
Q&A Frank Watanabe Todd Edwards Patrick Burnett, Latha Vairavan President & CEO Chief Commercial MD, PhD, FAAD Chief Financial Officer Chief Medical Officer Officer ©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 24
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