Q3 25 EPS
$-1.27
BEAT +1.57%
Est. $-1.29
Q3 25 Revenue
$26.0M
BEAT +28.40%
Est. $20.3M
vs S&P Since Q3 25
+34.8%
BEATING MARKET
RCUS +44.6% vs S&P +9.8%
Market Reaction
Did RCUS Beat Earnings? Q3 2025 Results
Arcus Biosciences delivered a stronger-than-expected third quarter for fiscal 2025, beating both earnings and revenue estimates even as the clinical-stage oncology company absorbed a widening net loss and a sharp year-over-year revenue decline. The c… Read more Arcus Biosciences delivered a stronger-than-expected third quarter for fiscal 2025, beating both earnings and revenue estimates even as the clinical-stage oncology company absorbed a widening net loss and a sharp year-over-year revenue decline. The company posted revenue of $26.00 million, clearing the $20.25 million consensus by 28.40%, while its loss of $1.27 per share came in slightly better than the $1.29 consensus estimate, a 1.57% positive surprise. Revenue fell 45.8% from the year-ago quarter's $48.00 million, a drop largely explained by the absence of a one-time $15.00 million license payment from Taiho's prior-year quemliclustat option exercise and lower Gilead collaboration revenues. Net loss widened to $135.00 million as R&D expenses climbed to $141.00 million, driven by accelerating enrollment in the pivotal PEAK-1 and PRISM-1 trials for casdatifan and quemliclustat. The company ended the quarter with $841.00 million in cash, which management said is sufficient to fund operations through multiple Phase 3 data readouts anticipated across 2026, and guided full-year 2025 revenue of $225.00 million to $235.00 million, with R&D costs expected to ease beginning in Q4.
Key Takeaways
- • Revenue decline driven by absence of prior-year $15 million Taiho license revenue and lower Gilead collaboration revenues
- • R&D expense increase driven by PRISM-1 and PEAK-1 enrollment and start-up activities
- • G&A expense decrease driven by lower stock-based compensation
RCUS YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
RCUS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Data from the ARC-20 study demonstrate that casdatifan has a best-in-class profile, based on a meaningfully higher response rate and longer PFS relative to data for the only marketed HIF-2a inhibitor. With our global Phase 3 PEAK-1 study now enrolling, and based on the encouraging, emerging data from cohorts evaluating casdatifan-based regimens in early-line settings, we are extremely excited about the potential for casdatifan to be a transformative therapy in clear cell renal cell carcinoma (ccRCC). We remain well capitalized and funded through readout of multiple Phase 3 trials, and we are looking forward to a steady cadence of key data events in 2026 and beyond.”
— Terry Rosen, Q3 2025 Earnings Press Release
RCUS Earnings Trends
RCUS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RCUS EPS Trend
Earnings per share: estimate vs actual
RCUS Revenue Trend
Quarterly revenue: estimate vs actual
RCUS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.83 | $-1.02 | -23.26% | $17.0M | -42.34% |
| Q4 25 BEAT FY | $-1.01 | $-0.89 | +11.59% | $33.0M | +25.00% |
| FY Full Year | $-3.50 | $-3.29 | +6.00% | $247.0M | +3.96% |
| Q3 25 BEAT | $-1.29 | $-1.27 | +1.57% | $26.0M | +28.40% |
| Q2 25 BEAT | $-1.17 | $0.00 | +100.00% | $160.0M | +386.96% |
| Q1 25 MISS | $-1.01 | $-1.14 | -12.61% | $28.0M | -27.47% |