Financial Statements — ARWR
Balance Sheet
(in billions USD)| Metric | Q2
2026 | 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 | 0.19 | 0.20 | 0.13 | 0.19 | 0.05 | 0.07 | 0.13 | 0.06 | 0.11 | 0.14 | 0.20 | 0.14 | 0.09 | 0.09 | 0.33 | 0.37 | 0.14 |
| Short-term Investments | 1.60 | 0.71 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.12 | 0.13 | 0.13 | 0.13 | 0.09 |
| Accounts Receivable | 0.02 | 0.22 | 0.01 | 0.00 | 0.00 | -- | -- | -- | 0.00 | 0.07 | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Total Current Assets | 1.84 | 1.17 | 0.95 | 1.14 | 0.57 | 0.45 | 0.54 | 0.24 | 0.47 | 0.57 | 0.57 | 0.43 | 0.42 | 0.34 | 0.53 | 0.59 | 0.32 |
| Property, Plant & Equipment | 0.37 | 0.38 | 0.38 | 0.38 | 0.39 | 0.38 | 0.36 | 0.33 | 0.23 | 0.19 | 0.15 | 0.07 | 0.05 | 0.05 | 0.05 | 0.04 | 0.03 |
| Intangible Assets | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Total Non-current Assets* | 0.43 | 0.43 | 0.43 | 0.44 | 0.44 | 0.43 | 0.41 | 0.39 | 0.33 | 0.32 | 0.32 | 0.32 | 0.29 | 0.30 | 0.21 | 0.17 | 0.18 |
| Total Assets | 2.27 | 1.60 | 1.38 | 1.57 | 1.01 | 0.88 | 0.96 | 0.63 | 0.80 | 0.89 | 0.89 | 0.75 | 0.70 | 0.64 | 0.73 | 0.76 | 0.50 |
| Accounts Payable | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.03 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 |
| Total Current Liabilities | 0.30 | 0.35 | 0.19 | 0.22 | 0.09 | 0.10 | 0.07 | 0.06 | 0.07 | 0.09 | 0.12 | 0.13 | 0.14 | 0.14 | 0.20 | 0.17 | 0.03 |
| Total Non-current Liabilities | 1.37 | 0.69 | 0.67 | 0.67 | 0.86 | 0.45 | 0.39 | 0.39 | 0.34 | 0.34 | 0.37 | 0.15 | 0.11 | 0.13 | 0.10 | 0.14 | 0.02 |
| Total Liabilities* | 1.65 | 1.04 | 0.86 | 0.89 | 0.96 | 0.55 | 0.47 | 0.47 | 0.43 | 0.44 | 0.51 | 0.30 | -- | -- | -- | -- | -- |
| Retained Earnings | (1.73) | (1.60) | (1.60) | (1.43) | (1.80) | (1.45) | (1.28) | (1.16) | (0.92) | (0.81) | (0.86) | (0.74) | (0.66) | (0.71) | (0.58) | (0.55) | (0.52) |
| Total Stockholder Equity | 0.61 | 0.57 | 0.52 | 0.68 | 0.05 | 0.33 | 0.48 | 0.16 | 0.36 | 0.45 | 0.38 | 0.45 | -- | -- | -- | -- | -- |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | 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 |
|---|
| Total Revenue | 73.74 | 264.03 | 256.47 | 27.77 | 542.71 | 2.50 | 0.00 | 0.00 | 0.00 | 3.55 | 16.10 | 15.83 | 146.27 | 62.55 | 31.58 | 32.41 | 151.81 | 27.44 | 38.28 | 45.89 |
| Research & Development | 173.25 | 177.20 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Selling, General & Admin | 41.74 | 46.02 | 37.68 | 30.95 | 28.41 | 26.91 | 26.38 | 23.71 | 25.07 | 23.61 | 24.57 | 23.77 | 23.22 | 20.99 | 32.03 | 33.14 | 34.27 | 25.00 | 37.40 | 18.43 |
| Total Operating Expenses | 215.00 | 223.22 | 212.37 | 193.32 | 161.51 | 163.91 | 162.20 | 176.14 | 126.19 | 140.10 | 124.43 | 118.53 | 98.10 | 104.68 | 115.41 | 105.32 | 110.25 | 90.76 | 103.16 | 77.76 |
| Operating Income | (141.26) | 40.81 | 44.11 | (165.55) | 381.20 | (161.41) | (162.20) | (176.14) | (126.19) | (136.54) | (108.33) | (102.70) | 48.17 | (42.13) | (83.83) | (72.91) | 41.55 | (63.32) | (64.88) | (31.87) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 7.24 | 5.37 | 5.26 | 5.16 | 5.06 | -- | -- | -- | -- | -- | -- | -- |
| Pretax Income | (137.56) | 28.27 | 36.12 | (179.09) | 369.62 | (175.11) | (172.80) | (173.98) | (127.00) | (138.69) | (108.99) | (103.38) | 47.68 | (41.79) | (82.16) | (72.05) | 44.37 | (62.87) | (63.37) | (29.92) |
| Tax Provision | 0.01 | 0.03 | 20.00 | (0.44) | 1.75 | 0.10 | 0.55 | 0.00 | 0.00 | (3.31) | 2.03 | 0.74 | 0.00 | 0.02 | 3.79 | 0.00 | -- | -- | -- | -- |
| Net Income | (132.73) | 30.81 | (23.75) | (175.24) | 370.45 | (173.08) | (170.54) | (170.79) | (125.30) | (132.86) | (109.68) | (102.95) | 48.68 | (41.32) | (85.51) | (72.05) | 44.37 | (62.87) | (63.37) | (29.92) |
| Basic EPS | (0.93) | 0.22 | (0.14) | (1.26) | 2.78 | (1.39) | (1.36) | (1.38) | (1.02) | (1.24) | (1.03) | (0.96) | 0.46 | (0.39) | (0.81) | (0.68) | 0.42 | (0.60) | (0.61) | (0.29) |
| Diluted EPS | (0.93) | 0.22 | (0.11) | (1.26) | 2.75 | (1.39) | (1.36) | (1.38) | (1.02) | (1.24) | (1.02) | (0.96) | 0.45 | (0.39) | (0.80) | (0.68) | 0.41 | (0.60) | (0.61) | (0.29) |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | 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 |
|---|
| Operating Cash Flow | 84.44 | 13.48 | 20.49 | (154.72) | 460.05 | (146.27) | (137.22) | (115.42) | (92.38) | (117.84) | (25.26) | (21.45) | (31.67) | (75.52) | (68.67) | (68.85) | 62.73 | (61.35) | (24.12) | (29.61) |
| Capital Expenditures | 2.57 | 2.15 | 7.49 | 2.36 | 5.30 | 7.52 | 24.29 | 14.45 | 34.08 | 68.66 | 63.91 | 46.61 | 27.31 | 38.91 | 32.71 | 9.54 | 4.75 | 5.78 | 8.20 | 3.93 |
| Free Cash Flow* | 81.88 | 11.33 | 13.00 | (157.08) | 454.76 | (153.79) | (161.50) | (129.87) | (126.45) | (186.50) | (89.16) | (68.05) | (58.98) | (114.43) | (101.38) | (78.38) | 57.98 | (67.12) | (32.32) | (33.54) |
| Investing Cash Flow | (894.28) | (23.74) | 72.62 | 141.39 | (420.21) | 76.91 | (222.92) | 6.95 | (268.94) | 64.84 | 30.51 | (9.90) | (36.06) | (80.69) | 36.45 | 61.28 | (69.75) | (33.38) | (118.24) | (19.54) |
| Financing Cash Flow | 795.72 | (14.75) | 3.67 | (42.68) | 92.38 | 20.63 | 389.09 | 50.39 | 430.78 | 0.27 | 0.15 | 1.81 | 0.52 | 250.58 | 0.86 | 60.60 | 1.85 | 1.89 | 0.82 | 2.76 |
* Derived from reported values
