Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Arcturus Therapeutics Holdings Inc.ARCT · healthcare | |
|---|---|
| Grade | Nonecomputable_factors_below_threshold: 6 of 14 inputs computable; 7 are required |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $271.1M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filer, thin data · fortress balance sheetnot computable: distress |
| Inputs computable | 6 of 14 |
| Graded from | filings received through Mar 3, 2026220 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $12.852026-10-08; market equity $365.2M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 3, 2026; the document on sec.gov.
We are a messenger RNA medicines company focused on the development of liver and respiratory rare disease therapeutics. We have ongoing Phase 2 clinical studies for our RNA therapeutic candidates to potentially treat ornithine transcarbamylase (OTC) deficiency and cystic fibrosis (CF). We developed the world’s first approved self-amplifying messenger RNA (sa-mRNA) vaccine, KOSTAIVE® (“KOSTAIVE”), which we have partnered with Seqirus, Inc. (“CSL Seqirus”), a part of CSL Limited. KOSTAIVE has achieved approval in Japan, the European Union and the United Kingdom as a vaccine against COVID-19, and sales of KOSTAIVE began in Japan in October 2024.
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 84.9 | |||||||
| Gross profitability | not computable | 32.2% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | not computable | 9.3% | |||||
| required facts have no common fiscal period end | |||||||
| Accruals ratio | 2.8% | [1,5-7] | (6.6%) | 84.9 | 811 | 2025-12-31 | |
| Gross margin stability, five years | not computable | 2.8 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 30.6 | |||||||
| Twelve-month failure probability | not computable | 0.07% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 0.81 | [1,8-13] | (0.31) | 33.8 | 756 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.82x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | (4.51x) | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 6.64x | [8-9] | 2.96x | 27.3 | 839 | 2025-12-31 | |
| Growth and financing, sleeve percentile 70.6 | |||||||
| Revenue growth, three-year compound | (26.4%) | [2,14-16] | 10.0% | 90.6 | 415 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 10.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 37.1% | |||||
| one or more required annual facts are missing | |||||||
| Asset growth, three years | (15.6%) | [1,7,17-18] | 2.1% | 77.1 | 704 | 2025-12-31 | |
| Net share issuance, one year | 4.8% | [19-20] | 2.5% | 44.2 | 634 | 2026-02-27 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (19.9%) | 8.0% | 31 | hotter than 31 of 100 peers |
| Distance from 52-week high | (44.4%) | (31.4%) | 33 | closer to its high than 33 of 100 peers |
| EBIT to enterprise value | (40.6%) | (1.5%) | 17 | pricier than 83 of 100 peers |
| Free cash flow yield | (20.4%) | (1.0%) | 22 | pricier than 78 of 100 peers |
| Book value to price | 0.47 | 0.28 | 69 | pricier than 31 of 100 peers |
| Sales to price | 0.22 | 0.31 | 42 | pricier than 58 of 100 peers |
| Composite equity issuance, five years | 7.8% | 20.3% | 37 | more equity-funded than 37 of 100 peers |
| Relative strength against the sector, log excess return | (0.43) | (0.14) | 31 | ahead of 31 of 100 peers |
Inputs: market equity $365.8M; EBIT -$76.3M; free cash flow -$74.5M; book equity $171.8M; sales $82.0M; debt $13.3M; cash $191.5M[21].
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (19.1%) | ✗ fail[5,7] |
| Operating cash flow above zero | -$74.3M | ✗ fail[6] |
| Return on assets improved | (0.3 pts) | ✗ fail[5,7,17,22] |
| Operating cash flow exceeds net income | -$8.5M | ✗ fail[5-6] |
| Long-term leverage fell | n/a[1,7,17] | |
| Current ratio improved | 196.5 pts | ✓ pass[8-9,23-24] |
| No new shares issued | 4.8% | ✗ fail[19-20] |
| Gross margin improved | n/a | |
| Asset turnover improved | (11.6 pts) | ✗ fail[2,7,14,17] |
|
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $271.1M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $82.0M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $370.5M | 2021-12-31 | 2024-03-14 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $15.3M | 2021-12-31 | 2022-03-01 | 10-K | filing · viewer · series |
| 5 | net income | us-gaap:NetIncomeLoss | -$65.8M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 6 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$74.3M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 7 | assets | us-gaap:Assets | $344.1M | 2024-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 8 | current assets | us-gaap:AssetsCurrent | $241.4M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 9 | current liabilities | us-gaap:LiabilitiesCurrent | $36.4M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 10 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$514.6M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 11 | operating income | us-gaap:OperatingIncomeLoss | -$76.3M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 12 | book equity | us-gaap:StockholdersEquity | $214.0M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 13 | liabilities | us-gaap:Liabilities | $57.2M | 2025-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $152.3M | 2024-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $166.8M | 2023-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 16 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $206.0M | 2022-12-31 | 2025-03-06 | 10-K | filing · viewer · series |
| 17 | assets | us-gaap:Assets | $429.4M | 2023-12-31 | 2025-03-06 | 10-K | filing · viewer · series |
| 18 | assets | us-gaap:Assets | $450.4M | 2022-12-31 | 2024-03-14 | 10-K | filing · viewer · series |
| 19 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 28,423,069 | 2026-02-27 | 2026-03-03 | 10-K | filing · viewer · series |
| 20 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 27,119,823 | 2025-03-04 | 2025-03-06 | 10-K | filing · viewer · series |
| 21 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 28,423,069 | 2026-08-04 | 2026-08-06 | 10-Q | filing · viewer · series |
| 22 | net income | us-gaap:NetIncomeLoss | -$80.9M | 2024-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 23 | current assets | us-gaap:AssetsCurrent | $306.0M | 2024-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 24 | current liabilities | us-gaap:LiabilitiesCurrent | $65.5M | 2024-12-31 | 2026-03-03 | 10-K | filing · viewer · series |
| 25 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $191.5M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$39.4M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 27 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$19.4M | 2026-03-31 | 2026-05-07 | 10-Q | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$58.0M | 2025-09-30 | 2025-11-12 | 10-Q | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$40.9M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
.jpg){kind=link}
