Arcturus Therapeutics Holdings — Earnings Quality Grade D
ARCT · Healthcare
Significant concerns
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 20 days (10 → 30)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR growth 40.0% exceeds revenue growth -51.4%
Revenue -51.4%, CFFO -24.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -64.5% vs revenue -51.4%. Normal
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = 1.13. Profits backed by cash
FCF is negative ($-0.1B)
Accruals ratio = 3.1%. Low accruals
Cash $0.2B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Interest coverage = -8473.3x (<2x). Financial stress
Other assets 0.0% vs revenue -51.4%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
No goodwill
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25