ARCT
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | -5.66 | -31.53 | 48.46 | -4.78 |
| Price to Sales | 3.31 | 5.32 | 2.18 | 78.81 |
| Book Value Per Common Share | 8.93 | 10.38 | 10.18 | 8.65 |
| Price to Book | 1.90 | 3.04 | 1.67 | 4.28 |
| Price to Operating Cash Flow | -7.67 | -46.39 | 14.02 | -7.21 |
| Price to Free Cash Flow | -7.59 | -39.98 | 18.48 | -7.04 |
| Enterprise Value to EBITDA | 328621.63 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | -37.61 | -38.26 | -20.37 | -15.29 | -89.27 |
| Price to Sales | 35.40 | 14.40 | 11.27 | 21.82 | 16.18 |
| Book Value Per Common Share | 8.25 | 8.51 | 8.62 | 8.93 | 9.67 |
| Price to Book | 2.24 | 1.53 | 1.23 | 1.90 | 2.40 |
| Price to Operating Cash Flow | -29.22 | -61.34 | -8.17 | -1616.19 | -26.43 |
| Price to Free Cash Flow | -28.91 | -61.34 | -8.14 | -1616.19 | -26.34 |
| Enterprise Value to EBITDA |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | ||||
| Revenue YoY | -12.27 | -23.33 | 1564.82 | |
| EBITDA YoY | ||||
| Net Profit YoY |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | |||||
| Revenue YoY | -42.26 | -3.80 | 21.32 | -45.90 | |
| EBITDA YoY | |||||
| Net Profit YoY |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 8.78 | 10.97 | 14.82 | 14.08 |
| Quick Ratio | 3.68 | 3.95 | 3.11 | 3.76 |
| Current Ratio | 4.67 | 4.72 | 3.18 | 3.81 |
| Debt to Equity | 0.43 | 0.54 | 0.67 | 0.72 |
| Long-Term Debt to Equity | 0.16 | 0.25 | 0.20 | 0.29 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 6.63 | 7.24 | 8.00 | 8.78 | 8.76 |
| Quick Ratio | 5.94 | 4.59 | 4.69 | 3.68 | 3.85 |
| Current Ratio | 7.86 | 5.90 | 5.64 | 4.67 | 4.76 |
| Debt to Equity | 0.26 | 0.34 | 0.42 | 0.43 | 0.42 |
| Long-Term Debt to Equity | 0.12 | 0.14 | 0.21 | 0.16 | 0.15 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | -23.52 | -6.92 | 2.08 | -51.85 |
| ROE | -33.59 | -10.67 | 3.46 | -89.25 |
| Gross Margin | ||||
| Operating Margin | -58.49 | -17.19 | 5.92 | -1641.33 |
| EBITDA Margin | -55.93 | -15.32 | 6.66 | -1631.68 |
| Net Profit Margin | -58.49 | -18.84 | 4.54 | -1647.98 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | -4.76 | -2.97 | -4.24 | -8.72 | -1.86 |
| ROE | -5.99 | -3.97 | -6.02 | -12.45 | -2.64 |
| Gross Margin | |||||
| Operating Margin | -116.67 | -47.39 | -66.04 | -142.90 | -27.66 |
| EBITDA Margin | -111.28 | -44.21 | -62.90 | -139.00 | -25.31 |
| Net Profit Margin | -95.02 | -37.45 | -55.25 | -142.88 | -17.78 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | ||||
| Dividend Payout Ratio |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 344,069.00 | 429,402.00 | 450,387.00 | 392,814.00 |
| Current Assets | 305,979.00 | 386,590.00 | 403,333.00 | 378,961.00 |
| Cash and Short-Term Investments | 237,028.00 | 292,005.00 | 391,883.00 | 370,492.00 |
| Cash and Cash Equivalents | 237,028.00 | 292,005.00 | 391,883.00 | 370,492.00 |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Net Receivables | 3,974.00 | 32,064.00 | 2,764.00 | 3,367.00 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Current Assets | 64,977.00 | 62,521.00 | 8,686.00 | 5,102.00 |
| Non-Current Assets | 38,090.00 | 42,812.00 | 47,054.00 | 13,853.00 |
| Property, Plant, Equipment Net | 36,205.00 | 40,927.00 | 44,960.00 | 11,261.00 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 515.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 2,094.00 | 2,077.00 |
| Liabilities | 103,091.00 | 150,889.00 | 180,075.00 | 164,603.00 |
| Current Liabilities | 65,489.00 | 81,989.00 | 126,984.00 | 99,537.00 |
| Payables and Expenses | 26,697.00 | 24,419.00 | 22,291.00 | 28,466.00 |
| Account Payables | 7,194.00 | 5,279.00 | 7,449.00 | 10,058.00 |
| Current Accrued Liabilities | 19,503.00 | 18,499.00 | 13,547.00 | 18,408.00 |
| Short-Term Debt | 3,552.00 | 4,309.00 | 64,539.00 | 24,011.00 |
| Other Current Liabilities | 35,240.00 | 53,261.00 | 40,154.00 | 47,060.00 |
| Non-Current Liabilities | 37,602.00 | 68,900.00 | 53,091.00 | 65,066.00 |
| Long-Term Debt | 24,998.00 | 25,907.00 | 30,216.00 | 45,135.00 |
| Other Non-Current Liabilities | 12,604.00 | 42,993.00 | 22,875.00 | 19,931.00 |
| Equity | 240,978.00 | 278,513.00 | 270,312.00 | 228,211.00 |
| Shareholders Equity | 240,978.00 | 278,513.00 | 270,312.00 | 228,211.00 |
| Capital Stock | 27.00 | 27.00 | 27.00 | 26.00 |
| Share Premium | 689,758.00 | 646,352.00 | 608,426.00 | 575,675.00 |
| Retained Earnings | -448,807.00 | -367,866.00 | -338,141.00 | -347,490.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Debt | 28,550.00 | 30,216.00 | 94,755.00 | 69,146.00 |
| Common Shares Outstanding | 27,000.00 | 26,828.00 | 26,555.00 | 26,372.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 138,389.00 | 157,748.00 | 205,755.00 | 12,359.00 |
| Interest Income | 15,195.00 | 17,359.00 | 2,581.00 | 753.00 |
| Interest Expense | 0 | 768.00 | 3,001.00 | 2,674.00 |
| Non-Interest Expense | 52,823.00 | 52,871.00 | 46,071.00 | 41,451.00 |
| Operating Expenses | 234,058.00 | 235,953.00 | 193,578.00 | 215,211.00 |
| Selling, General and Administrative Expenses | 52,823.00 | 52,871.00 | 46,071.00 | 41,451.00 |
| Research and Development Expenses | 195,156.00 | 192,133.00 | 147,751.00 | 173,760.00 |
| Other Operating Expenses | -13,921.00 | -9,051.00 | -244.00 | 0 |
| Operating Income | -95,669.00 | -78,205.00 | 12,177.00 | -202,852.00 |
| EBT | -80,945.00 | -27,890.00 | 10,644.00 | -203,674.00 |
| Income Tax | -4.00 | 1,835.00 | 1,295.00 | 0 |
| Net Income Including Non-Controlling Interests | -80,941.00 | -29,725.00 | 9,349.00 | -203,674.00 |
| Net Income | -80,941.00 | -29,725.00 | 9,349.00 | -203,674.00 |
| EBIT | -80,945.00 | -27,122.00 | 12,177.00 | -202,852.00 |
| Deprecation and Amortization | 3,544.00 | 2,957.00 | 1,527.00 | 1,193.00 |
| EBITDA | -77,401.00 | -24,165.00 | 13,704.00 | -201,659.00 |
| EPS | -0.00 | -0.00 | 0.00 | -0.01 |
| Diluted EPS | -0.00 | -0.00 | 0.00 | -0.01 |
| Average Shares Outstanding Basic | 27,000.00 | 26,628.00 | 26,445.00 | 26,317.00 |
| Average Shares Outstanding Diluted | 27,000.00 | 26,628.00 | 27,093.00 | 26,317.00 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | -59,747.00 | -18,099.00 | 31,993.00 | -135,043.00 |
| Operating Net Income | -80,941.00 | -29,725.00 | 9,349.00 | -203,674.00 |
| Deprecation and Amortization | 3,544.00 | 2,957.00 | 1,527.00 | 1,193.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 37,988.00 | 34,649.00 | 30,611.00 | 28,915.00 |
| Change in Working Capital | -20,809.00 | 7,381.00 | -12,557.00 | 32,625.00 |
| Other Operating Activities | 471.00 | -33,361.00 | 3,063.00 | 5,898.00 |
| Investing Cash Flow | -648.00 | -2,901.00 | -7,726.00 | -3,406.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -648.00 | -2,901.00 | -7,726.00 | -3,406.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 |
| Financing Cash Flow | 5,418.00 | -24,087.00 | -2,859.00 | 48,016.00 |
| Net Issuance/Repayment of Debt | 0 | -27,364.00 | -5,000.00 | 46,599.00 |
| Net Issuance/Repurchase of Equity | 682.00 | 609.00 | 411.00 | 515.00 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 4,736.00 | 2,668.00 | 1,730.00 | 902.00 |
| Net Change in Cash | -54,977.00 | -45,087.00 | 21,408.00 | -90,433.00 |
| Cash at Beginning of Period | 348,890.00 | 393,977.00 | 372,569.00 | 463,002.00 |
| Cash at End of Period | 293,913.00 | 348,890.00 | 393,977.00 | 372,569.00 |
| Free Cash Flow | -60,395.00 | -21,000.00 | 24,267.00 | -138,449.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 282,343.00 | 309,270.00 | 331,785.00 | 344,069.00 | 370,654.00 |
| Current Assets | 249,200.00 | 274,503.00 | 278,794.00 | 305,979.00 | 330,821.00 |
| Cash and Short-Term Investments | 180,360.00 | 196,467.00 | 216,948.00 | 237,028.00 | 237,178.00 |
| Cash and Cash Equivalents | 180,360.00 | 196,467.00 | 216,948.00 | 237,028.00 | 237,178.00 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 7,951.00 | 17,204.00 | 14,572.00 | 3,974.00 | 30,199.00 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 60,889.00 | 60,832.00 | 47,274.00 | 64,977.00 | 63,444.00 |
| Non-Current Assets | 33,143.00 | 34,767.00 | 52,991.00 | 38,090.00 | 39,833.00 |
| Property, Plant, Equipment Net | 31,258.00 | 32,882.00 | 34,606.00 | 36,205.00 | 37,948.00 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1,885.00 | 1,885.00 | 18,385.00 | 1,885.00 | 1,885.00 |
| Liabilities | 57,784.00 | 78,217.00 | 98,026.00 | 103,091.00 | 108,788.00 |
| Current Liabilities | 31,699.00 | 46,515.00 | 49,409.00 | 65,489.00 | 69,463.00 |
| Payables and Expenses | 15,409.00 | 23,131.00 | 24,291.00 | 26,697.00 | 26,210.00 |
| Account Payables | 5,491.00 | 10,623.00 | 6,179.00 | 7,194.00 | 10,131.00 |
| Current Accrued Liabilities | 9,918.00 | 12,508.00 | 18,112.00 | 19,503.00 | 16,079.00 |
| Short-Term Debt | 4,122.00 | 4,031.00 | 3,671.00 | 3,552.00 | 3,435.00 |
| Other Current Liabilities | 12,168.00 | 19,353.00 | 21,447.00 | 35,240.00 | 39,818.00 |
| Non-Current Liabilities | 26,085.00 | 31,702.00 | 48,617.00 | 37,602.00 | 39,325.00 |
| Long-Term Debt | 21,865.00 | 22,933.00 | 38,987.00 | 24,998.00 | 25,987.00 |
| Other Non-Current Liabilities | 4,220.00 | 8,769.00 | 9,630.00 | 12,604.00 | 13,338.00 |
| Equity | 224,559.00 | 231,053.00 | 233,759.00 | 240,978.00 | 261,866.00 |
| Shareholders Equity | 224,559.00 | 231,053.00 | 233,759.00 | 240,978.00 | 261,866.00 |
| Capital Stock | 27.00 | 27.00 | 27.00 | 27.00 | 27.00 |
| Share Premium | 710,043.00 | 703,089.00 | 696,615.00 | 689,758.00 | 680,641.00 |
| Retained Earnings | -485,511.00 | -472,063.00 | -462,883.00 | -448,807.00 | -418,802.00 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Debt | 25,987.00 | 26,964.00 | 42,658.00 | 28,550.00 | 29,422.00 |
| Common Shares Outstanding | 27,235.00 | 27,148.00 | 27,121.00 | 27,000.00 | 27,084.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 14,153.00 | 24,510.00 | 25,477.00 | 21,000.00 | 38,815.00 |
| Interest Income | 3,234.00 | 2,567.00 | 2,771.00 | 3,214.00 | 3,818.00 |
| Non-Interest Expense | 10,398.00 | 10,338.00 | 11,315.00 | 12,380.00 | 13,276.00 |
| Operating Expenses | 30,665.00 | 36,126.00 | 42,303.00 | 54,394.00 | 49,552.00 |
| Selling, General and Administrative Expenses | 10,398.00 | 10,338.00 | 11,315.00 | 12,380.00 | 13,276.00 |
| Research and Development Expenses | 23,265.00 | 29,579.00 | 34,893.00 | 43,780.00 | 39,134.00 |
| Other Operating Expenses | -2,998.00 | -3,791.00 | -3,905.00 | -1,766.00 | -2,858.00 |
| Operating Income | -16,512.00 | -11,616.00 | -16,826.00 | -33,394.00 | -10,737.00 |
| EBT | -13,448.00 | -9,176.00 | -14,076.00 | -30,009.00 | -7,120.00 |
| Income Tax | 0 | 4.00 | 0 | -4.00 | -217.00 |
| Net Income Including Non-Controlling Interests | -13,448.00 | -9,180.00 | -14,076.00 | -30,005.00 | -6,903.00 |
| Net Income | -13,448.00 | -9,180.00 | -14,076.00 | -30,005.00 | -6,903.00 |
| EBIT | -16,512.00 | -11,616.00 | -16,826.00 | -30,009.00 | -10,737.00 |
| Deprecation and Amortization | 763.00 | 779.00 | 801.00 | 819.00 | 912.00 |
| EBITDA | -15,749.00 | -10,837.00 | -16,025.00 | -29,190.00 | -9,825.00 |
| EPS | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Diluted EPS | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Average Shares Outstanding Basic | 27,188.00 | 27,129.00 | 27,107.00 | 27,000.00 | 27,062.00 |
| Average Shares Outstanding Diluted | 27,188.00 | 27,129.00 | 27,107.00 | 27,000.00 | 27,062.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | -17,151.00 | -5,755.00 | -35,138.00 | -284.00 | -23,764.00 |
| Operating Net Income | -13,448.00 | -9,180.00 | -14,076.00 | -30,005.00 | -6,903.00 |
| Deprecation and Amortization | 763.00 | 779.00 | 801.00 | 819.00 | 912.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Share Based Compensation | 5,729.00 | 6,200.00 | 6,662.00 | 8,983.00 | 9,493.00 |
| Change in Working Capital | -10,365.00 | -3,682.00 | -28,546.00 | 20,091.00 | -27,468.00 |
| Other Operating Activities | 170.00 | 128.00 | 21.00 | -172.00 | 202.00 |
| Investing Cash Flow | -181.00 | 0 | -137.00 | 0 | -80.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -181.00 | 0 | -137.00 | 0 | -80.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0.00 | 0 | 0.00 | 0 | 0.00 |
| Financing Cash Flow | 1,225.00 | -14,726.00 | 15,195.00 | 134.00 | 693.00 |
| Net Issuance/Repayment of Debt | 0 | -15,000.00 | 15,000.00 | 0 | 0 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 134.00 | 0 |
| Net Change in Cash | -16,107.00 | -20,481.00 | -20,080.00 | -150.00 | -23,151.00 |
| Cash at Beginning of Period | 253,352.00 | 273,833.00 | 293,913.00 | 294,063.00 | 317,214.00 |
| Cash at End of Period | 237,245.00 | 253,352.00 | 273,833.00 | 293,913.00 | 294,063.00 |
| Free Cash Flow | -17,332.00 | -5,755.00 | -35,275.00 | -284.00 | -23,844.00 |