$ARCT
Arcturus Therapeutics Holdings Inc.

2023 Q1 Form 10-K Financial Statement

#000095017023010380 Filed on March 29, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $80.29M $160.3M $206.0M
YoY Change 1430.99% 2666.53% 1566.79%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.76M $11.86M $46.07M
YoY Change 28.26% 9.75% 11.15%
% of Gross Profit
Research & Development $51.77M $26.98M $147.8M
YoY Change 15.31% -17.32% -14.97%
% of Gross Profit
Depreciation & Amortization $578.0K $551.0K $1.527M
YoY Change 158.04% 77.74% 28.0%
% of Gross Profit
Operating Expenses $65.53M $38.84M $193.8M
YoY Change 17.81% 19.02% -9.94%
Operating Profit $14.76M $12.18M
YoY Change -129.29% -106.0%
Interest Expense $2.149M -$2.810M -$1.533M
YoY Change -372.03% 176.03% 86.5%
% of Operating Profit 14.56% -12.59%
Other Income/Expense, Net $2.477M -$420.0K
YoY Change -539.18% -78.14%
Pretax Income $50.86M $118.6M $10.64M
YoY Change -199.39% -406.86% -105.23%
Income Tax $100.0K $1.295M $1.295M
% Of Pretax Income 0.2% 1.09% 12.17%
Net Earnings $50.75M $117.3M $9.349M
YoY Change -199.19% -403.51% -104.59%
Net Earnings / Revenue 63.22% 73.21% 4.54%
Basic Earnings Per Share $1.91 $0.35
Diluted Earnings Per Share $1.87 $4.03 $0.35
COMMON SHARES
Basic Shares Outstanding 26.56M 26.49M 26.45M
Diluted Shares Outstanding 27.15K 27.09M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $327.9M $391.9M $391.9M
YoY Change 2.58% 5.77% 5.77%
Cash & Equivalents $327.9M $391.9M $391.9M
Short-Term Investments
Other Short-Term Assets $4.137M $8.686M $8.686M
YoY Change 13.78% 70.25% 70.25%
Inventory
Prepaid Expenses
Receivables $92.48M $2.764M $2.764M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $424.6M $403.3M $403.3M
YoY Change 29.83% 6.43% 6.43%
LONG-TERM ASSETS
Property, Plant & Equipment $12.64M $12.42M $44.96M
YoY Change 67.8% 120.01% 299.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $2.116M $2.094M $2.094M
YoY Change 1.88% 0.82% 0.82%
Total Long-Term Assets $46.31M $47.05M $47.05M
YoY Change 209.07% 239.67% 239.67%
TOTAL ASSETS
Total Short-Term Assets $424.6M $403.3M $403.3M
Total Long-Term Assets $46.31M $47.05M $47.05M
Total Assets $470.9M $450.4M $450.4M
YoY Change 37.68% 14.66% 14.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.34M $7.449M $7.449M
YoY Change 93.17% -25.94% -25.94%
Accrued Expenses $32.29M $30.23M $30.23M
YoY Change 61.71% 28.52% 28.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $60.66M $60.66M
YoY Change -100.0% 169.89% 169.89%
Total Short-Term Liabilities $90.13M $127.0M $127.0M
YoY Change -16.01% 27.57% 27.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $1.729M $2.804M $53.09M
YoY Change -83.84% -88.52% 117.29%
Total Long-Term Liabilities $1.729M $2.804M $53.09M
YoY Change -95.59% -93.1% -18.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.13M $127.0M $127.0M
Total Long-Term Liabilities $1.729M $2.804M $53.09M
Total Liabilities $141.6M $180.1M $180.1M
YoY Change -9.94% 9.4% 9.4%
SHAREHOLDERS EQUITY
Retained Earnings -$287.4M -$338.1M
YoY Change -27.92% -2.71%
Common Stock $27.00K $27.00K
YoY Change 3.85% 3.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $329.2M $270.3M $270.3M
YoY Change
Total Liabilities & Shareholders Equity $470.9M $450.4M $450.4M
YoY Change 37.68% 14.66% 14.66%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $50.75M $117.3M $9.349M
YoY Change -199.19% -403.51% -104.59%
Depreciation, Depletion And Amortization $578.0K $551.0K $1.527M
YoY Change 158.04% 77.74% 28.0%
Cash From Operating Activities -$35.87M $160.3M $31.99M
YoY Change -26.85% -477.11% -123.69%
INVESTING ACTIVITIES
Capital Expenditures $691.0K $3.807M $7.726M
YoY Change -67.27% -440.52% 126.83%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$691.0K -$3.807M -$7.726M
YoY Change -67.27% 240.52% 126.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -27.36M -2.232M -2.859M
YoY Change -8244.05% -1070.43% -105.95%
NET CHANGE
Cash From Operating Activities -35.87M 160.3M 31.99M
Cash From Investing Activities -691.0K -3.807M -7.726M
Cash From Financing Activities -27.36M -2.232M -2.859M
Net Change In Cash -63.93M 154.2M 21.41M
YoY Change 25.8% -455.47% -123.67%
FREE CASH FLOW
Cash From Operating Activities -$35.87M $160.3M $31.99M
Capital Expenditures $691.0K $3.807M $7.726M
Free Cash Flow -$36.56M $156.5M $24.27M
YoY Change -28.52% -478.1% -117.53%

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AcquisitionOfResearchAndDevelopmentInProcessThroughIssuanceOfCommonStock
5000000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
573000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
53000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-338100000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-347500000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
394000000.0
CY2022 arct Upfront Fee And Consideration
UpfrontFeeAndConsideration
9200000
CY2022Q4 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
9200000
CY2022 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0
CY2022Q4 arct Percentage Of Equity Interest In Joint Venture
PercentageOfEquityInterestInJointVenture
0.49
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1500000
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1200000
CY2022 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
900000
CY2021 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
800000
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2100000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2100000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Significant Customers</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash and cash equivalents. The Company limits its exposure to credit loss by placing its cash and cash equivalents with high credit quality financial institutions in instruments with short maturities.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">There were </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">two</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers that comprised </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">100</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the total accounts receivable balance at December 31, 2022 and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">two</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers that comprised </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">100</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the total accounts receivable balance at December 31, 2021.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">For the year ended December 31, 2022, the Company’s top </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">five</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers collectively represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">99</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company’s total revenue. For the year ended December 31, 2021, there were </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">four</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers that collectively represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">99</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company’s total revenue.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
CY2022 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0
CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
391883000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
370492000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2094000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2077000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
393977000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
372569000
CY2022 us-gaap Dividends
Dividends
0
CY2021 us-gaap Dividends
Dividends
0
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5783000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4256000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12415000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5643000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
3367000
CY2022 arct Contract With Customer Asset Additions
ContractWithCustomerAssetAdditions
203077000
CY2022 arct Contract With Customer Asset Deductions
ContractWithCustomerAssetDeductions
-203680000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2764000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
63413000
CY2022 arct Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
203077000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-217771000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
48719000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4038000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3578000
CY2021Q4 arct Accrued Cystic Fibrosis Foundation Liability
AccruedCysticFibrosisFoundationLiability
2777000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1295000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3884000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1537000
CY2022Q4 arct Clinical Accruals Current
ClinicalAccrualsCurrent
4531000
CY2021Q4 arct Clinical Accruals Current
ClinicalAccrualsCurrent
8675000
CY2022Q4 arct Vinbiocare Contractual Liabilities
VinbiocareContractualLiabilities
7468000
CY2022Q4 arct Other Accrued Research And Development Expenses
OtherAccruedResearchAndDevelopmentExpenses
9016000
CY2021Q4 arct Other Accrued Research And Development Expenses
OtherAccruedResearchAndDevelopmentExpenses
6956000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30232000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23523000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18198000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9899000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3700000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1300000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4653567
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
44.62
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
47111000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2980676
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
22.26
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
161266
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.72
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
850237
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
49.34
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6622740
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
34.78
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10721000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2573258
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
36.39
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9741000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6622740
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
34.78
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y2M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10721000
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
81800000
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
39200000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
28400000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1600000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3600000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30611
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28915
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
10644000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-203674000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10644000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-203674000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1121000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
174000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1295000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1295000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.062
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.161
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.004
CY2022 arct Effective Income Tax Rate Reconciliation Nondeductible Expense Officers Compensation
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOfficersCompensation
0.218
CY2021 arct Effective Income Tax Rate Reconciliation Nondeductible Expense Officers Compensation
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOfficersCompensation
-0.011
CY2022 arct Effective Income Tax Rate Reconciliation Research And Development Credits
EffectiveIncomeTaxRateReconciliationResearchAndDevelopmentCredits
-0.403
CY2021 arct Effective Income Tax Rate Reconciliation Research And Development Credits
EffectiveIncomeTaxRateReconciliationResearchAndDevelopmentCredits
0.029
CY2022 arct Effective Income Tax Rate Reconciliation Uncertain Tax Position
EffectiveIncomeTaxRateReconciliationUncertainTaxPosition
0.090
CY2021 arct Effective Income Tax Rate Reconciliation Uncertain Tax Position
EffectiveIncomeTaxRateReconciliationUncertainTaxPosition
-0.004
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.126
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.017
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.094
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.267
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.010
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2022 arct Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
0.004
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.122
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
47866000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
69761000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
10460000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
11020000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1420000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
910000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
611000
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
5098000
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
9016000
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
5850000
CY2022Q4 us-gaap Deferred Tax Assets Equity Method Investments
DeferredTaxAssetsEquityMethodInvestments
2212000
CY2021Q4 us-gaap Deferred Tax Assets Equity Method Investments
DeferredTaxAssetsEquityMethodInvestments
1957000
CY2021Q4 arct Deferred Tax Assets Property Plant And Equipment And Intangible Assets
DeferredTaxAssetsPropertyPlantAndEquipmentAndIntangibleAssets
960000
CY2022Q4 arct Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
19938000
CY2022Q4 arct Deferred Tax Assets Right Of Use Lease Liability
DeferredTaxAssetsRightOfUseLeaseLiability
8200000
CY2021Q4 arct Deferred Tax Assets Right Of Use Lease Liability
DeferredTaxAssetsRightOfUseLeaseLiability
1360000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
7201000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3971000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
106924000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
100887000
CY2022Q4 arct Deferred Tax Liabilities Property Plant And Equipment And Intangible Assets
DeferredTaxLiabilitiesPropertyPlantAndEquipmentAndIntangibleAssets
475000
CY2022Q4 arct Deferred Tax Liabilities Right Of Use Asset
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7826000
CY2021Q4 arct Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
8301000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1265000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
98623000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
99622000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
98600000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
99600000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-1000000.0
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
54300000
CY2022 arct Net Operating Loss And Research And Development Credit Carryforwards Limitations On Cumulative Change In Ownership Minimum Percentage
NetOperatingLossAndResearchAndDevelopmentCreditCarryforwardsLimitationsOnCumulativeChangeInOwnershipMinimumPercentage
0.50
CY2022 arct Net Operating Loss And Research And Development Credit Carryforwards Limitations On Cumulative Change In Ownership Period
NetOperatingLossAndResearchAndDevelopmentCreditCarryforwardsLimitationsOnCumulativeChangeInOwnershipPeriod
P3Y
CY2022 arct Maximum Percentage Of Likelihood Of Uncertain Tax Position Recognized To Be Sustained
MaximumPercentageOfLikelihoodOfUncertainTaxPositionRecognizedToBeSustained
0.50
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2400000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1500000
CY2022 arct Unrecognized Tax Benefits Decreases Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesIncreasesResultingFromPriorPeriodTaxPositions
-500000
CY2021 arct Unrecognized Tax Benefits Decreases Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesIncreasesResultingFromPriorPeriodTaxPositions
-100000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1000000.0
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1000000.0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2900000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2400000
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5482000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5646000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4019000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3603000
CY2022Q4 arct Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
23283000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
42033000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7933000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
34100000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
4700000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1900000

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