Arrowhead Pharmaceuticals (ARWR) FY2022 results: revenue $243 million, up 75.9% on the year

Arrowhead Pharmaceuticals, Inc. (ARWR) reported revenue of $243 million for fiscal 2022, the year ended 30 September 2022, up 75.9% on the year before. Net income was -$176 million, and diluted earnings per share $-1.67. The figures are the company's own, from the 10-K it filed with the SEC on 28 November 2022.

Revenue

$243 million

+75.9% on the year

FY2015FY2022

Operating margin

-73.4%

-107.8% a year earlier

FY2015FY2022

Net income

-$176 million

FY2015FY2022

Diluted EPS

-$1.67

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	243	138	88.0	+75.9%
Research and development	297	206	129	+44.1%
Operating income	-179	-149	-93.2
Operating margin	-73.4%	-107.8%	-105.9%
Interest expense	0.0	0.0	n/a
Pre-tax income	-173	-141	-84.6
Income tax	3.8	0.0	0.0	+189,150.0%
Net income	-176	-141	-84.6
Net margin	-72.4%	-101.9%	-96.1%
Diluted EPS	-$1.67	-$1.36	-$0.84

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	-136	171	-95.8
Capital expenditure	52.8	23.6	12.0	+123.9%
Free cash flow	-189	148	-108
Free cash flow margin	-77.7%	106.8%	-122.5%
Cash from investing	-5.4	-142	-241
Cash from financing	65.2	11.3	258	+476.6%
Depreciation and amortisation	8.7	6.6	4.2	+31.8%
Share-based compensation	121	76.7	43.4	+57.7%
Diluted shares, weighted	105m	104m	101m	+1.6%
Shares outstanding at period end	106m	104m	102m	+1.6%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	399	409	462	-2.5%
Non-controlling interest	19.8	0.0	n/a
Debt	0.0	0.0	0.0
Operating lease liabilities	78.8	23.3	20.0	+238.3%
Other liabilities	195	278	40.7	-29.9%
Total liabilities and equity	692	710	523	-2.6%
Fixed assets	110	48.7	30.9	+126.6%
Intangible assets	12.0	13.7	15.4	-12.4%
Investments	0.0	127	85.0
Cash and equivalents	108	184	144	-41.4%
Receivables	1.4	10.3	0.8	-86.3%
Other assets	460	326	247	+41.0%
Total assets	692	710	523	-2.6%

10-K for the year ended 30 September 2022, filed 28 November 2022: the filing.