Slides
Page 1
2nd Quarter 2026 Financial Results August 5 , 2026 ArcutIS BIOTHERAPEUTICS Bioscience applied to the skin .
Page 2
2©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Legal Disclaimers This presentation and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including information concerning our current and future financial performance, business plans and objectives, current and future clinical and preclinical development activities, current and future commercialization activities (including payer coverage), timing and success of our ongoing and planned clinical trials and related data, the timing of announcements, updates and results of our clinical trials and related data, timing of submissions and our ability to obtain and maintain regulatory approval, the potential therapeutic benefits and economic value of our product candidates, competitive position, industry environment, and potential market opportunities. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors including, but not limited to, those related to the success, cost and timing of our product candidate development activities and ongoing and planned clinical trials; our plans to develop and commercialize targeted therapeutics, including roflumilast cream and roflumilast foam; the progress of patient enrollment and dosing in our clinical trials; the ability of our product candidates to achieve applicable endpoints in the clinical trials; the safety profile of our product candidates; the potential for data from our clinical trials to support a marketing application, as well as the timing of these events; our ability to obtain funding for our operations, development and commercialization of our product candidates; the timing of submissions and our ability to obtain and maintain regulatory approvals; the rate and degree of market acceptance and clinical utility of our product candidates; the size and growth potential of the markets for our product candidates, and our ability to serve those markets; our commercialization, marketing and manufacturing capabilities and strategy; current and future agreements with third parties in connection with the commercialization of our product candidates; the timing and our ability to obtain and maintain quality payer coverage; the management of gross-to-net; our expectations regarding our ability to obtain and maintain intellectual property protection; our dependence on third party manufacturers; the success of competing therapies that are or may become available; our ability to attract and retain key scientific or management personnel; our ability to identify additional product candidates with significant commercial potential consistent with our commercial objectives; and our estimates regarding expenses, future revenue, gross-to- net, operating cash flows, capital requirements and needs for additional financing. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our most recent annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC), as well as any subsequent filings. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward- looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed herein may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Any forward-looking statement that we make in this presentation or the accompanying oral presentation are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of such statement. Except as required by law, we undertake no obligation to revise or update any forward- looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. For further information with respect to Arcutis, we refer you to our most recent annual report on Form 10-K, as amended, and our most recent quarterly report on Form 10-Q, filed with the SEC. In addition, we are subject to the information and reporting requirements of the Securities Exchange Act of 1934 and, accordingly, we file periodic reports, current reports, proxy statements and other information with the SEC. These periodic reports, current reports, proxy statements and other information are available for review at the SEC’s website at http://www.sec.gov. All product and company names are trademarks TM or registered® trademarks of their respective holders.
Page 3
3©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Today’s Speakers Frank Watanabe President & CEO Patrick Burnett, MD, PhD, FAAD Chief Medical Officer Latha Vairavan Chief Financial Officer
Page 4
4©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Business Review Frank Watanabe President & CEO Speakers & Agenda
Page 5
5©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Our Strategy to Sustain Near- and Long-term Growth sNDA = supplemental new drug application; AD = atopic dermatitis; PsO = plaque psoriasis; PCP=primary care physician; POC = proof of concept; HS = hidradenitis suppurativa • Received FDA approval of ZORYVE® (roflumilast) cream 0.3% in pediatric PsO down to 2 years old • FDA acceptance of ZORYVE cream 0.05% for infants with AD • Launch of multiple patient access innovations • Completed hiring of PCP / pediatrics sales team • Continue to enroll Ph 1a/1b trial for ARQ-234 Grow current ZORYVE business Build our pipeline • Fully enrolled Ph 2 vitiligo POC trial • Continue to enroll Ph 2 HS POC trials • Evaluating additional Ph 2 POC trials Expand ZORYVE into new markets
Page 6
6©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Commercial Update Speakers & Agenda Frank Watanabe President & CEO
Page 7
7©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 99.2 127.5 105.4 129.9 Q3'25 Q4'25 Q1'26 Q2'26 Strong Net Product Revenues in Q2 2026 • Q2‘26 net product revenues of $129.9M, +59% vs. prior year ‐ +23% net product revenues quarter over quarter • GTN stable in the 50s • Expect quarter-over-quarter net sales growth in Q3 ’26 driven by patient demand Net Product Revenues $M Figures may not tie due to rounding GTN=gross to net
Page 8
8©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 Sustained TRx Growth for ZORYVE Portfolio – Reaching ~23,000 Weekly TRx (Rolling 4-Week Basis) vs. Q1’26 vs. Q2’25 Q2’26 +14% +44% TRx GrowthFoam 0.3% (SebD) Launch Cream 0.15% (AD) Launch Prior period demand updated per IQVIA restatement Data Source: ZORYVE – IQVIA Xponent data (data from 2024-01-01 to 2026-07-03) TRx=total prescriptions; AD=atopic dermatitis; PsO=plaque psoriasis; SebD=seborrheic dermatitis Foam 0.3% (PsO) Launch R4 WEEK WEEKLY TRx Cream 0.05% (AD) Launch 20262024 2025
Page 9
9©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Patient Access is Our Next Domain for Innovation Multi-pronged approach to improving patient access AI Enabled Patient Access Support Leverages existing office workflow tool to streamline prescription fulfillment insurance prior authorization financial assistance fulfillment routing Customized AI platforms to simplify fulfillments for patients Virtual Health A more convenient and flexible way to engage with care multiple indications use it anywhere* any duration ZORYVE is a uniquely positioned product for virtual health *ZORYVE is for topical use only, not for ophthalmic, oral, or intravaginal use
Page 10
10©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Three Commercial Pillars to Drive ZORYVE Sales Inflection Derm sales force expansion and initiation of PCP sales team ZORYVE Clinical Profile Commercial Infrastructure ZORYVE Growth Patient Access DTC Efforts Tori Spelling and Max Homa leading Free to Be Me campaign to build patient awareness for approved ZORYVE indications Virtual health platform and AI enabled fulfillment support tools PCP = primary care provider; DTC = direct-to-consumer
Page 11
11©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. R&D Update Speakers & Agenda Patrick Burnett, MD, PhD, FAAD Chief Medical Officer
Page 12
12©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Q1 2026 Began enrollment of Ph1 trial of ARQ- 234 in AD Breadth of Clinical Activity is Setting the Foundation for Long-term, Sustainable ZORYVE Growth Breadth of Clinical Activity is Setting the Foundation for Long-term, Sustainable ZORYVE Growth Q1 2026 Topline data for ZORYVE cream 0.05% in infants with AD Q1 2026 Fully enrolled ZORYVE foam 0.3% trial ages 2-11 in PsO Q2 2026 Submitted sNDA for ZORYVE cream 0.05% in infants in AD; PDUFA February 23, 2027 Q2 2026 FDA approval of ZORYVE cream 0.3% in ages 2-5 in PsO Q2 2026 Initiation of nail-involved PsO and INTEGUMENT-ITCH trials Grow current ZORYVE business Expand ZORYVE into new markets Build our pipeline Q4 2026 Advancement decision for ZORYVE foam 0.3% incl. Ph2 data in vitiligo Q1 2027 Advancement decision for ZORYVE foam 0.3% incl. Ph2 data in HS Q2 2026 Initiation of PD-(L)1 cutaneous AE trial sNDA = supplemental new drug application; AD = atopic dermatitis; PsO = plaque psoriasis; HS = hidradenitis suppurativa
Page 13
13©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Broad MOA Safety and Tolerability ZORYVE has the Profile to Displace Topical Corticosteroids TCS ZORYVE ZORYVE Life Cycle Management Current clinical development activity demonstrates breadth of potential ZORYVE applications Efficacious and Fast Acting Duration and Location of Use Graphic above for illustrative purposes TCS=topical corticosteroids
Page 14
14©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Financial Results Speakers & Agenda Latha Vairavan Chief Financial Officer
Page 15
15©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. 15 $ Millions, Except Per Share Amounts Q2 2026 Q2 2025 YoY Change Q1 2026 QoQ Change Product Revenues, Net 129.9 81.5 48.4 105.4 24.5 Other Revenues 0.0 0.0 0.0 0.0 0.0 Total Revenues 129.9 81.5 48.4 105.4 24.5 Cost of Sales 10.9 7.5 3.4 9.8 1.2 R&D Expense 20.4 19.5 0.9 30.6 (10.3) SG&A Expense 82.1 69.2 13.0 74.1 8.1 Total Operating Expense 113.4 96.1 17.3 114.5 (1.1) Net Income (Loss) 15.0 (15.9) 30.9 (11.3) 26.3 Net Income (Loss) Per Share – Diluted 0.11 (0.13) 0.24 (0.09) 0.20 Figures may not tie due to rounding GAAP Reported Q2 2026 Financial Results
Page 16
16©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Positive Cash Flow Generation from ZORYVE Franchise Allows for Investment to Sustain Growth 2026 Guidance Capital Allocation Product Sales of $525M-$540M Sustained Positive Cash Flow Reinvest ZORYVE Proceeds in Franchise Continue to invest in innovation across pipeline Balance Sheet Strength $239M Q2’26 Cash Balance* $102M Long-term Debt, Net $13M Net Cash Generated from Operating Activities in Q2’26 *Cash, cash equivalents, and marketable securities
Page 17
17©Copyright 2026. Arcutis Biotherapeutics, Inc. — Presentation designed for an investor audience. Q&A Frank Watanabe President & CEO Patrick Burnett, MD, PhD, FAAD Chief Medical Officer Latha Vairavan Chief Financial Officer