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Side-by-side financial comparison of Arcturus Therapeutics Holdings Inc. (ARCT) and TH International Ltd (THCH). Click either name above to swap in a different company.

Arcturus Therapeutics Holdings Inc. is the larger business by last-quarter revenue ($7.2M vs $6.6M, roughly 1.1× TH International Ltd).

Arcturus Therapeutics Holdings Inc. is an American RNA medicines biotechnology company focused on the discovery, development and commercialization of therapeutics for rare diseases and infectious diseases. Arcturus has developed proprietary lipid nanoparticle RNA therapeutics for nucleic acid medicines including small interfering RNA (siRNA), messenger RNA (mRNA), gene editing RNA, DNA, antisense oligonucleotides, and microRNA.

TH International Ltd is the exclusive operator of the Tim Hortons coffee brand in mainland China. It offers freshly brewed coffee, artisanal baked goods, light meals and branded peripheral products, operating physical offline stores and third-party delivery channels, targeting young urban consumers across tier 1, tier 2 and tier 3 cities in China.

ARCT vs THCH — Head-to-Head

Bigger by revenue
ARCT
ARCT
1.1× larger
ARCT
$7.2M
$6.6M
THCH

Income Statement — Q4 FY2025 vs Q1 FY2024

Metric
ARCT
ARCT
THCH
THCH
Revenue
$7.2M
$6.6M
Net Profit
$-2.7M
Gross Margin
Operating Margin
-37.3%
Net Margin
-41.2%
Revenue YoY
-68.4%
Net Profit YoY
3.1%
EPS (diluted)

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ARCT
ARCT
THCH
THCH
Q4 25
$7.2M
Q3 25
$17.2M
Q2 25
$28.3M
Q1 25
$29.4M
Q4 24
$22.8M
Q3 24
$41.7M
Q2 24
$49.9M
Q1 24
$38.0M
$6.6M
Net Profit
ARCT
ARCT
THCH
THCH
Q4 25
Q3 25
$-13.4M
Q2 25
$-9.2M
Q1 25
$-14.1M
Q4 24
$-30.0M
Q3 24
$-6.9M
Q2 24
$-17.2M
Q1 24
$-26.8M
$-2.7M
Operating Margin
ARCT
ARCT
THCH
THCH
Q4 25
Q3 25
-96.3%
Q2 25
-41.0%
Q1 25
-57.3%
Q4 24
-146.7%
Q3 24
-25.8%
Q2 24
-42.4%
Q1 24
-80.0%
-37.3%
Net Margin
ARCT
ARCT
THCH
THCH
Q4 25
Q3 25
-78.4%
Q2 25
-32.4%
Q1 25
-47.9%
Q4 24
-131.8%
Q3 24
-16.6%
Q2 24
-34.5%
Q1 24
-70.5%
-41.2%
EPS (diluted)
ARCT
ARCT
THCH
THCH
Q4 25
Q3 25
$-0.49
Q2 25
$-0.34
Q1 25
$-0.52
Q4 24
$-1.10
Q3 24
$-0.26
Q2 24
$-0.64
Q1 24
$-1.00

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ARCT
ARCT
THCH
THCH
Cash + ST InvestmentsLiquidity on hand
$230.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$214.0M
Total Assets
$271.1M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ARCT
ARCT
THCH
THCH
Q4 25
$230.9M
Q3 25
$180.4M
Q2 25
$196.5M
Q1 25
$216.9M
Q4 24
$237.0M
Q3 24
$237.2M
Q2 24
$260.3M
Q1 24
$288.4M
Stockholders' Equity
ARCT
ARCT
THCH
THCH
Q4 25
$214.0M
Q3 25
$224.6M
Q2 25
$231.1M
Q1 25
$233.8M
Q4 24
$241.0M
Q3 24
$261.9M
Q2 24
$258.6M
Q1 24
$264.0M
Total Assets
ARCT
ARCT
THCH
THCH
Q4 25
$271.1M
Q3 25
$282.3M
Q2 25
$309.3M
Q1 25
$331.8M
Q4 24
$344.1M
Q3 24
$370.7M
Q2 24
$388.6M
Q1 24
$418.8M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ARCT
ARCT
THCH
THCH
Operating Cash FlowLast quarter
$-74.3M
$-511
Free Cash FlowOCF − Capex
$-74.5M
FCF MarginFCF / Revenue
-1035.2%
Capex IntensityCapex / Revenue
3.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ARCT
ARCT
THCH
THCH
Q4 25
$-74.3M
Q3 25
$-17.2M
Q2 25
$-5.8M
Q1 25
$-35.1M
Q4 24
$-284.0K
Q3 24
$-23.8M
Q2 24
$-30.1M
Q1 24
$-5.6M
$-511
Free Cash Flow
ARCT
ARCT
THCH
THCH
Q4 25
$-74.5M
Q3 25
$-17.3M
Q2 25
Q1 25
$-35.3M
Q4 24
Q3 24
$-23.8M
Q2 24
$-30.5M
Q1 24
$-5.8M
FCF Margin
ARCT
ARCT
THCH
THCH
Q4 25
-1035.2%
Q3 25
-101.1%
Q2 25
Q1 25
-120.1%
Q4 24
Q3 24
-57.2%
Q2 24
-61.1%
Q1 24
-15.3%
Capex Intensity
ARCT
ARCT
THCH
THCH
Q4 25
3.2%
Q3 25
1.1%
Q2 25
0.0%
Q1 25
0.5%
Q4 24
0.0%
Q3 24
0.2%
Q2 24
0.7%
Q1 24
0.6%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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