$ARCT

Arcturus Therapeutics Holdings Inc.

CIK:0001768224|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 2,959	$ 28,301	$ 5,020	$ 57,683
Operating expenses:
Research and development, net	17,515	29,579	39,042	64,471
General and administrative	10,989	10,338	20,454	21,654
Total operating expenses	28,504	39,917	59,496	86,125
Loss from operations	(25,545)	(11,616)	(54,476)	(28,442)
Finance income, net	1,819	2,567	3,751	5,339
Other expense	(59)	(127)	(24)	(149)
Net loss before income taxes	(23,785)	(9,176)	(50,749)	(23,252)
Provision for income taxes	0	4	0	4
Net loss	$ (23,785)	$ (9,180)	$ (50,749)	$ (23,256)
Net loss per share:
Basic	$ (0.84)	$ (0.34)	$ (1.79)	$ (0.86)
Diluted	$ (0.84)	$ (0.34)	$ (1.79)	$ (0.86)
Weighted-average shares outstanding:
Basic	28,423	27,129	28,422	27,118
Diluted	28,423	27,129	28,422	27,118
Comprehensive loss:
Net loss	$ (23,785)	$ (9,180)	$ (50,749)	$ (23,256)
Comprehensive loss	(23,785)	(9,180)	(50,749)	(23,256)
Collaboration Revenue [Member]
Revenue:
Total revenue	880	24,510	1,490	49,987
Grant Revenue [Member]
Revenue:
Total revenue	$ 2,079	$ 3,791	$ 3,530	$ 7,696

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (50,749)	$ (23,256)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,301	1,580
Share-based compensation expense	8,556	12,862
Gain on sale of equipment	(52)	0
Foreign currency transaction loss	8	149
Loss on disposal of property and equipment	72	0
Changes in assets and liabilities:
Accounts receivable	3,751	(13,230)
Prepaid expense and other assets	1,108	4,145
Right-of-use assets	1,323	1,880
Accounts payable	179	3,429
Accrued liabilities	(1,060)	(14,301)
Deferred revenue	(1,970)	(12,086)
Lease liabilities	(1,818)	(2,065)
Net cash used in operating activities	(39,351)	(40,893)
Investing activities
Acquisition of property and equipment	0	(137)
Proceeds from sale of equipment	52	0
Net cash used in investing activities	52	(137)
Financing activities
Proceeds from exercise of stock options	16	469
Proceeds from debt	0	15,000
Payments on debt obligations	0	(15,000)
Net cash provided by financing activities	16	469
Net decrease in cash, cash equivalents and restricted cash	(39,283)	(40,561)
Cash, cash equivalents and restricted cash at beginning of the period	232,794	293,913
Cash, cash equivalents and restricted cash at end of the period	$ 193,511	$ 253,352

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 191,483	$ 230,909
Accounts receivable	1,813	5,564
Prepaid expenses and other current assets	3,865	4,973
Total current assets	197,161	241,446
Property and equipment, net	5,363	6,736
Operating lease right-of-use assets, net	19,758	21,081
Non-current restricted cash	2,028	1,885
Total assets	224,310	271,148
Current liabilities:
Accounts payable	4,414	4,235
Accrued liabilities	22,846	23,898
Deferred revenue	6,276	8,246
Total current liabilities	33,536	36,379
Operating lease liability, net of current portion	18,966	20,784
Total liabilities	52,502	57,163
Stockholders’ equity
Common stock, $0.001 par value; 60,000 shares authorized; issued and outstanding shares were 28,423 at June 30, 2026 and 28,414 at December 31, 2025	28	28
Additional paid-in capital	737,119	728,547
Accumulated deficit	(565,339)	(514,590)
Total stockholders’ equity	171,808	213,985
Total liabilities and stockholders’ equity	$ 224,310	$ 271,148