Arcturus Therapeutics Holdings Inc.

Listed Company

ARCTCIK 0001768224NasdaqAcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$82.03M

Net Income

$-65.78M

Total Assets

$271.15M

Equity

$213.99M

Shares Out

28.42M

Op. Cash Flow

$-74.27M

Business

Arcturus Therapeutics Holdings Inc. is a messenger RNA medicines company developing mRNA-based vaccines and therapeutics, including the self‑amplifying mRNA (sa‑mRNA) vaccine KOSTAIVE. It offers vaccine products and clinical‑stage therapeutics, platform technologies (STARR sa‑mRNA and LUNAR lipid nanoparticle delivery), and manufacturing and formulation capabilities. Key business segments include vaccines (COVID‑19, seasonal and pandemic influenza), rare disease therapeutics (OTC deficiency and cystic fibrosis) and discovery/enabling programs (cancer, HPV, genome editing). The company distributes commercially through collaborators and partners (e.g., CSL Seqirus and Meiji) and relies on a global CDMO network and joint ventures for manufacturing and supply.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	82	152	167	206	12
Research and development, net	112	195	192	148	174
General and administrative	46	53	53	46	41
Total operating expenses	158	248	245	194	215
Loss from operations	−76	−96	−78	12	−203
Gain (loss) from foreign currency	382,000	−471,000	−229,000	−598,000	584,000
Finance income, net	10	15	17	−420,000	−2
Gain on debt extinguishment	—	—	34	—	—
Net loss before income taxes	−66	−81	−28	11	−204
(Benefit) provision for income taxes	—	−4,000	2	1	—
Net loss	−66	−81	−30	9	−204
Basic (per share)	−2.4	−3	−1.12	0.35	−7.74
Diluted (per share)	−2.4	−3	−1.12	0.35	−7.74
Basic (shares)	27	27	27	26	26
Diluted (shares)	27	27	27	27	26
Comprehensive loss	−66	−81	−30	9	−204

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	231	237	292	392	370
Restricted cash	—	55	55	—	—
Accounts receivable	6	4	32	3	3
Prepaid expenses and other current assets	5	10	8	9	5
Total current assets	241	306	387	403	379
Property and equipment, net	7	10	12	12	6
Operating lease right-of-use asset	21	27	29	33	6
Non-current restricted cash	2	2	2	2	2
Total assets	271	344	429	450	393
Accounts payable	4	7	5	7	10
Accrued liabilities	24	39	32	30	24
Deferred revenue	8	20	45	29	43
Total current liabilities	36	65	82	127	100
Deferred revenue, net of current portion	—	13	42	20	20
Operating lease liability, net of current portion	21	25	26	30	5
Total liabilities	57	103	151	180	165
Common stock: $0.001 par value; 60,000 shares authorized; issued and outstanding shares were 28,414 at December 31, 2025 and 27,000 at December 31, 2024	28,000	27,000	27,000	27,000	26,000
Additional paid-in capital	729	690	646	608	576
Accumulated deficit	−515	−449	−368	−338	−348
Total stockholders equity	214	241	279	270	228
Total liabilities and stockholders equity	271	344	429	450	393

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	4	3	2	1
Share-based compensation expense	25	38	35	31	29
Foreign currency transaction loss	382,000	471,000	90,000	375,000	−577,000
Other non-cash expenses	—	—	502,000	2	2
Impairment of right-of-use assets	2	—	—	—	—
Accounts receivable	−2	28	−29	603,000	−1
Prepaid expenses and other current assets	5	−2	1	−4	−2
Right-of-use assets	4	5	4	3	1
Accounts payable	−3	2	−2	−3	−769,000
Accrued liabilities	−15	6	−588,000	9	4
Deferred revenue	−24	−55	39	−15	33
Lease liabilities	−4	−4	−4	−4	−1
Net cash used in operating activities	−74	−60	−18	32	−135
Acquisition of property and equipment	−230,000	−648,000	−3	−8	−3
Net cash used in investing activities	−230,000	−648,000	−3	−8	−3
Proceeds from debt	15	—	20	—	47
Proceeds from exercise of stock options	1	5	3	2	902,000
Proceeds from issuance of common stock under equity plans	585,000	682,000	609,000	411,000	515,000
Proceeds from issuance of common stock, net of issuance costs	12	—	—	—	—
Payments on debt obligations	−15	—	−47	−5	—
Net cash provided by (used in) financing activities	13	5	−24	−3	48
Net decrease in cash, cash equivalents and restricted cash	−61	−55	−45	21	−90
Cash paid for interest	—	—	2	813,000	684,000
Cash paid for income taxes	—	1	—	—	—
Right-of-use assets acquired through operating leases	—	3	—	30	2
Non-cash asset disposal	2	473,000	—	—	—
Purchase of property and equipment in accounts payable and accrued expenses	—	—	68,000	573,000	53,000

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