Arcturus Therapeutics Holdings

ARCT

Biotechnology · Healthcare

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

Arcturus Therapeutics is a small biotechnology company that develops medicines using messenger RNA (mRNA) technology — the same basic approach used in some COVID-19 vaccines. Instead of traditional drugs, Arcturus designs genetic instructions that tell the body's own cells to make proteins that fight disease. The company focuses on vaccines and treatments for infectious diseases and rare liver conditions, and it sells or licenses its technology to pharmaceutical partners rather than selling directly to patients.

Arcturus earns money mainly through licensing deals, research collaborations, and milestone payments from larger drug companies that use its proprietary LUNAR delivery platform — a system designed to get mRNA safely into cells. The company operates primarily out of San Diego, California, with partnerships in Japan and other international markets. With a market cap around $200 million and a deeply negative operating margin, Arcturus is still in the clinical-stage phase, meaning its biggest risk is whether its pipeline drugs succeed in clinical trials before it runs out of funding.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-87.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-147.1% YoY

YoY Growth Rate

Earnings declining

Insider Activity

8.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~15 months

$191M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Revenue declining

Arcturus Therapeutics Holdings's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

-863.3%

Losing money on operations — -863.3%

Return on the money invested

ROCE

-60.0%

Weak — -60.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-79.1%

Shrinking sales (-79.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-388.6%

Burning cash (-388.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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