Financial Statements — ARCT
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 211.38 | 180.36 | 196.47 | 216.95 | 237.18 | 260.33 | 288.40 | 311.92 | 323.47 | 327.94 | 237.68 | 283.49 | 319.68 | 413.88 | 433.57 | 466.84 |
| Accounts Receivable | 1.34 | 7.95 | 17.20 | 14.57 | 30.20 | 24.09 | 27.06 | 38.22 | 2.80 | 92.48 | 2.04 | 2.25 | 3.69 | 2.02 | 2.16 | 2.01 |
| Total Current Assets | 216.88 | 249.20 | 274.50 | 278.79 | 330.82 | 347.01 | 375.79 | 393.27 | 385.24 | 424.56 | 246.68 | 291.51 | 327.01 | 420.97 | 438.04 | 470.00 |
| Property, Plant & Equipment | 6.08 | 7.42 | 8.09 | 8.87 | 10.35 | 11.18 | 11.76 | 12.72 | 12.72 | 12.64 | 11.35 | 8.95 | 7.53 | 4.84 | 3.41 | 3.43 |
| Total Non-current Assets* | 28.53 | 33.14 | 34.77 | 52.99 | 39.83 | 41.60 | 43.06 | 64.38 | 45.40 | 46.31 | 46.95 | 45.51 | 14.98 | 13.57 | 10.78 | 11.47 |
| Total Assets | 245.41 | 282.34 | 309.27 | 331.79 | 370.65 | 388.61 | 418.85 | 457.65 | 430.65 | 470.86 | 293.63 | 337.01 | 341.99 | 434.54 | 448.81 | 481.47 |
| Accounts Payable | 4.09 | 5.49 | 10.62 | 6.18 | 10.13 | 13.91 | 9.14 | 18.36 | 13.62 | 19.34 | 17.96 | 5.76 | 10.01 | 8.27 | 10.08 | 5.60 |
| Total Current Liabilities | 34.37 | 31.70 | 46.52 | 49.41 | 69.46 | 91.72 | 115.43 | 87.68 | 90.35 | 90.13 | 75.85 | 92.74 | 107.31 | 118.24 | 70.77 | 53.33 |
| Long-term Debt | -- | -- | -- | 15.00 | -- | -- | -- | 20.00 | -- | -- | 13.30 | 15.30 | 15.30 | 15.30 | 15.30 | 15.30 |
| Total Non-current Liabilities* | 19.68 | 26.09 | 31.70 | 48.62 | 39.33 | 38.31 | 39.45 | 89.91 | 55.13 | 51.49 | 72.11 | 73.55 | 49.93 | 57.17 | 72.40 | 75.53 |
| Total Liabilities | 54.05 | 57.78 | 78.22 | 98.03 | 108.79 | 130.03 | 154.88 | 177.59 | 145.47 | 141.62 | 147.96 | 166.30 | 157.24 | 175.41 | 143.17 | 128.86 |
| Retained Earnings | (541.55) | (485.51) | (472.06) | (462.88) | (418.80) | (411.90) | (394.68) | (356.16) | (339.94) | (287.39) | (455.49) | (420.22) | (398.66) | (308.83) | (254.74) | (200.16) |
| Total Stockholder Equity | 191.36 | 224.56 | 231.05 | 233.76 | 261.87 | 258.58 | 263.97 | 280.06 | 285.18 | 329.25 | 145.67 | 170.72 | 184.75 | 259.13 | 305.65 | 352.61 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Total Revenue | 2.06 | 7.20 | 17.15 | 28.30 | 29.38 | 22.77 | 41.67 | 49.86 | 38.01 | 30.86 | 45.14 | 10.52 | 80.29 | 160.29 | 13.37 | 27.09 | 5.24 | 5.79 | 2.44 | 2.00 |
| Research & Development | 21.53 | 24.48 | 23.27 | 29.58 | 34.89 | 43.78 | 39.13 | 58.67 | 53.57 | 36.62 | 51.08 | 52.67 | 51.77 | 26.98 | 37.69 | 38.19 | 44.89 | 32.63 | 45.40 | 45.68 |
| Selling, General & Admin | 9.47 | 14.03 | 10.40 | 10.34 | 11.32 | 12.38 | 13.28 | 12.32 | 14.85 | 12.51 | 13.38 | 13.23 | 13.76 | 11.86 | 12.49 | 10.99 | 10.73 | 10.81 | 10.86 | 10.04 |
| Total Operating Expenses | 30.99 | 38.50 | 33.66 | 39.92 | 46.21 | 56.16 | 52.41 | 70.99 | 68.42 | 49.13 | 64.45 | 65.89 | 65.53 | 38.84 | 50.18 | 49.18 | 55.62 | 43.44 | 56.26 | 55.72 |
| Operating Income | (28.93) | (31.31) | (16.51) | (11.62) | (16.83) | (33.39) | (10.74) | (21.13) | (30.41) | (18.27) | (19.31) | (55.37) | 14.76 | 121.45 | (36.81) | (22.09) | (50.38) | (37.65) | (53.82) | (53.72) |
| Pretax Income | -- | (29.08) | (13.45) | (9.18) | (14.08) | (30.01) | (7.12) | (17.37) | (26.45) | (11.44) | (15.33) | (51.97) | 50.86 | 118.64 | -- | -- | -- | -- | -- | -- |
| Tax Provision | -- | -- | 0.00 | 0.00 | 0.00 | -0.00 | (0.22) | (0.15) | 0.37 | 0.26 | 0.89 | 0.58 | 0.10 | 1.30 | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 |
| Net Income | (26.96) | (29.08) | (13.45) | (9.18) | (14.08) | (30.00) | (6.90) | (17.22) | (26.82) | (11.71) | (16.22) | (52.55) | 50.75 | 117.35 | (35.27) | (21.56) | (51.17) | (38.66) | (54.08) | (54.58) |
| Basic EPS | (0.95) | (1.05) | (0.49) | (0.34) | (0.52) | (1.10) | (0.26) | (0.64) | (1.00) | (0.44) | (0.61) | (1.98) | 1.91 | 4.44 | (1.33) | (0.82) | -- | -- | -- | -- |
| Diluted EPS | (0.95) | (1.05) | (0.49) | (0.34) | (0.52) | (1.10) | (0.26) | (0.64) | (1.00) | (0.40) | (0.61) | (1.98) | 1.87 | 4.44 | (1.33) | (0.82) | -- | -- | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Operating Cash Flow | (19.44) | (16.23) | (17.15) | (5.75) | (35.14) | (0.28) | (23.76) | (30.14) | (5.56) | (0.63) | (32.41) | 50.81 | (35.87) | 160.26 | (42.41) | (36.82) | (49.04) | (42.50) | (16.65) | (32.94) |
| Capital Expenditures | 0.00 | (0.09) | 0.18 | 0.00 | 0.14 | 0.00 | 0.08 | 0.33 | 0.24 | 0.88 | 0.98 | 0.35 | 0.69 | 3.81 | 2.19 | (0.38) | 2.11 | 1.12 | 1.77 | 0.40 |
| Free Cash Flow* | (19.44) | (16.14) | (17.33) | (5.75) | (35.27) | (0.28) | (23.84) | (30.47) | (5.80) | (1.50) | (33.39) | 50.45 | (36.56) | 156.45 | (44.59) | (36.44) | (51.15) | (43.61) | (18.42) | (33.35) |
| Investing Cash Flow | 0.03 | 0.09 | (0.18) | 0.00 | (0.14) | 0.00 | (0.08) | (0.33) | (0.24) | (0.87) | (0.98) | (0.35) | (0.69) | (3.81) | (2.19) | 0.38 | (2.11) | (1.12) | (1.77) | (0.40) |
| Financing Cash Flow | 0.02 | 11.69 | 1.23 | (14.73) | 15.20 | 0.13 | 0.69 | 2.40 | 2.19 | (18.66) | 21.84 | 0.09 | (27.36) | (2.23) | (1.22) | 0.26 | 0.34 | 0.23 | 0.69 | 0.08 |
* Derived from reported values
