v3.25.2

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 72,740	$ 71,335
Restricted cash	308	617
Marketable securities	118,083	156,620
Trade receivables, net	106,688	73,066
Inventories	16,324	14,526
Prepaid expenses and other current assets	18,635	19,656
Total current assets	332,778	335,820
Property, plant, and equipment, net	1,394	1,041
Intangible assets, net	15,937	9,479
Operating lease right-of-use asset	1,728	1,953
Other assets	596	596
Total assets	352,433	348,889
Current liabilities:
Accounts payable	15,082	14,220
Current portion of long-term debt, net	1,000	0
Accrued and other current liabilities	87,854	66,793
Total current liabilities	103,936	81,013
Operating lease liability, long-term	2,114	2,562
Long-term debt, net	107,049	107,203
Other long-term liabilities	360	570
Total liabilities	213,459	191,348
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024	0	0
Common stock, $0.0001 par value; 300,000,000 shares authorized at June 30, 2025 and December 31, 2024; 119,797,738 and 117,848,033 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	12	12
Additional paid-in capital	1,301,886	1,279,479
Accumulated other comprehensive loss	(35)	(7)
Accumulated deficit	(1,162,889)	(1,121,943)
Total stockholders’ equity	138,974	157,541
Total liabilities and stockholders’ equity	$ 352,433	$ 348,889

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Arcutis Biotherapeutics, Inc. 10-Q