← Back to Screener
ScreenerNewsCompareWatchlist
VCP ScannerFree US Stock Screener & Financial AnalysisFree US Stock Screener
ScreenerThemesNewsCompareWatchlist
AnalyzeValuationTotal ReturnDCA CalculatorInsider Activity

SPRY logoARS Pharmaceuticals, Inc.(SPRY)Earnings, Financials & Key Ratios

SPRY•NASDAQ
$9.00
$894M mkt cap·Price updated May 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryDrug Delivery Technology Platforms
AboutARS Pharmaceuticals, Inc. develops ARS-1, a novel intranasal epinephrine spray with absorption technology for patients and their families at-risk of severe allergic reactions to food, medications, and insect bites. Its product includes Neffy, a low-dose intranasal epinephrine nasal spray. The company was incorporated in 2015 and is based in San Diego, California.Show more
  • Revenue$84M-5.5%
  • EBITDA-$179M-5873.6%
  • Net Income-$171M-2241.8%
  • EPS (Diluted)-1.74-2327.9%
  • EBITDA Margin-212.92%-6219.0%
  • Operating Margin-212.92%-6056.9%
  • Net Margin-203.25%-2365.5%
  • ROE-92.33%-2914.3%
  • ROIC-96.49%-7538.5%
Technical→

SPRY Key Insights

ARS Pharmaceuticals, Inc. (SPRY) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 36.4%
  • ✓Share count reduced 3.7% through buybacks

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

SPRY Price & Volume

ARS Pharmaceuticals, Inc. (SPRY) stock price & volume — 10-year historical chart

Loading chart...

SPRY Growth Metrics

ARS Pharmaceuticals, Inc. (SPRY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years36.42%
3 Years300.09%
TTM-5.46%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-2241.76%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-2585.71%

Return on Capital

10 Years-61.11%
5 Years-32.4%
3 Years-28.66%
Last Year-58.24%

SPRY Recent Earnings

ARS Pharmaceuticals, Inc. (SPRY) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 3/12 qtrs (43%)
Q2 2026Latest
Mar 9, 2026
EPS
$0.42
Est $0.42
+0.0%
Revenue
$28M
Est $26M
+9.7%
Q4 2025
Nov 10, 2025
EPS
$0.52
Est $0.45
-15.6%
Revenue
$33M
Est $26M
+27.0%
Q3 2025
Aug 13, 2025
EPS
$0.46
Est $0.41
-12.2%
Revenue
$16M
Est $28M
-43.2%
Q2 2025
May 14, 2025
EPS
$0.35
Est $0.35
+0.0%
Revenue
$8M
Est $15M
-45.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 9, 2026
$0.42vs $0.42+0.0%
$28Mvs $26M+9.7%
Q4 2025Nov 10, 2025
$0.52vs $0.45-15.6%
$33Mvs $26M+27.0%
Q3 2025Aug 13, 2025
$0.46vs $0.41-12.2%
$16Mvs $28M-43.2%
Q2 2025May 14, 2025
$0.35vs $0.35+0.0%
$8Mvs $15M-45.8%
Based on last 12 quarters of dataView full earnings history →

SPRY Peer Comparison

ARS Pharmaceuticals, Inc. (SPRY) competitors in Drug Delivery Technology Platforms — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ADMA logoADMAADMA Biologics, Inc.Direct Competitor2.03B8.4714.1219.63%32.43%38.97%0.17
PRAX logoPRAXPraxis Precision Medicines, Inc.Direct Competitor9.63B333.28-24.72-100%-43.02%0.00
NTRA logoNTRANatera, Inc.Direct Competitor31.16B219.82-144.6235.9%-9.03%-15.28%0.13
TLRY logoTLRYTilray Brands, Inc.Direct Competitor659.52M5.66-0.174.84%-252.55%-136.55%0.22
HALO logoHALOHalozyme Therapeutics, Inc.Direct Competitor7.68B65.1925.4637.55%22.69%6.49%
AVDL logoAVDLAvadel Pharmaceuticals plcProduct Competitor2.1B21.64-42.435.05%-0.11%-0.33%0.02
ABBV logoABBVAbbVie Inc.Supply Chain358.42B202.6485.508.57%6.91%62.15%
ALK logoALKAlaska Air Group, Inc.Supply Chain4.65B40.6046.6721.34%0.7%2.43%1.67

Compare SPRY vs Peers

ARS Pharmaceuticals, Inc. (SPRY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ADMA

Most directly comparable listed peer for SPRY.

Scale Benchmark

vs ABBV

Larger-name benchmark to compare SPRY against a more recognizable public peer.

Peer Set

Compare Top 5

vs ADMA, PRAX, NTRA, TLRY

SPRY Income Statement

ARS Pharmaceuticals, Inc. (SPRY) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue0017.84M5.51M1.32M30K89.15M84.28M
Revenue Growth %----69.13%-76.1%-97.72%297063.33%-5.46%
Cost of Goods Sold1.42M1.55M14.07M213K0020.56M0
COGS % of Revenue--78.89%3.87%--23.06%-
Gross Profit
-1.42M▲ 0%
-1.55M▼ 8.9%
3.77M▲ 343.5%
5.29M▲ 40.6%
1.32M▼ 75.1%
30K▼ 97.7%
68.59M▲ 228540.0%
0▼ 100.0%
Gross Margin %--21.11%96.13%100%100%76.94%-
Gross Profit Growth %--8.87%343.53%40.58%-75.14%-97.72%228540%-100%
Operating Expenses16.9M22.52M4.23M24.75M36.83M67.55M71.67M263.73M
OpEx % of Revenue--23.74%449.46%2798.78%225166.67%80.4%312.92%
Selling, General & Admin2.1M1.02M4.23M4.69M18.46M47.28M0230.12M
SG&A % of Revenue--23.74%85.13%1402.43%157613.33%-273.05%
Research & Development14.8M21.5M14.07M20.27M18.38M20.27M19.58M13.18M
R&D % of Revenue--78.89%368.2%1396.35%67553.33%21.96%15.64%
Other Operating Expenses00-14.07M-213K0052.09M20.42M
Operating Income
-18.32M▲ 0%
-24.07M▼ 31.4%
-469K▲ 98.1%
-19.45M▼ 4048.0%
-35.52M▼ 82.6%
-67.52M▼ 90.1%
-3.08M▲ 95.4%
-179.45M▼ 5720.6%
Operating Margin %---2.63%-353.32%-2698.78%-225066.67%-3.46%-212.92%
Operating Income Growth %--31.37%98.05%-4047.97%-82.56%-90.11%95.43%-5720.56%
EBITDA-16.9M-22.52M-463K-19.24M-35.2M-67.45M-3M-179.45M
EBITDA Margin %---2.6%-349.46%-2674.54%-224823.33%-3.37%-212.92%
EBITDA Growth %--33.26%97.94%-4055.72%-82.93%-91.63%95.55%-5873.64%
D&A (Non-Cash Add-back)1.42M1.55M6K213K319K73K79K0
EBIT-17.58M-23.97M-469K-19.45M-35.52M-67.52M-3.08M0
Net Interest Income0100K371K694K0000
Interest Income43K100K400K800K00010.67M
Interest Expense0-29K106K000-2.6M
Other Income/Expense741K100K-596K-789K834K13.15M11.37M8.07M
Pretax Income
-17.58M▲ 0%
-23.97M▼ 36.3%
-1.06M▲ 95.6%
-20.24M▼ 1800.8%
-34.68M▼ 71.3%
-54.37M▼ 56.8%
8.29M▲ 115.2%
-171.38M▼ 2168.3%
Pretax Margin %---5.97%-367.65%-2635.41%-181216.67%9.29%-203.35%
Income Tax000000288K-80K
Effective Tax Rate %0%0%0%0%0%0%3.48%0.05%
Net Income
-17.58M▲ 0%
-23.97M▼ 36.3%
-1.06M▲ 95.6%
-20.24M▼ 1800.8%
-34.68M▼ 71.3%
-54.37M▼ 56.8%
8M▲ 114.7%
-171.3M▼ 2241.8%
Net Margin %---5.97%-367.65%-2635.41%-181216.67%8.97%-203.25%
Net Income Growth %--36.34%95.56%-1800.75%-71.33%-56.75%114.71%-2241.76%
Net Income (Continuing)-17.58M-23.97M-1.06M-20.24M-34.68M-54.37M8M-171.3M
Discontinued Operations00000000
Minority Interest00000000
EPS (Diluted)
-0.53▲ 0%
-0.72▼ 35.8%
-0.03▲ 95.7%
-0.70▼ 2180.1%
-0.87▼ 24.3%
-0.57▲ 34.5%
0.08▲ 113.7%
-1.74▼ 2327.9%
EPS Growth %--35.85%95.74%-2180.13%-24.29%34.48%113.7%-2327.91%
EPS (Basic)-0.53-0.72-0.03-0.70-0.87-0.570.08-1.74
Diluted Shares Outstanding33.07M33.07M34.7M28.87M39.96M95.22M102.39M98.57M
Basic Shares Outstanding33.07M33.07M34.7M28.87M39.96M95.22M96.94M98.57M
Dividend Payout Ratio--------

SPRY Balance Sheet

ARS Pharmaceuticals, Inc. (SPRY) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets20.78M10.53M26.38M60.73M277.7M231.56M334.3M284.9M
Cash & Short-Term Investments20.16M9.98M24.52M60.06M274.38M228.36M314.02M244.99M
Cash Only20.16M9.98M24.52M60.06M210.52M70.97M50.82M41.32M
Short-Term Investments000063.86M157.39M263.2M203.67M
Accounts Receivable00384K1K0795K9.16M25.35M
Days Sales Outstanding--7.860.07-9.67K37.51109.78
Inventory0000005.21M8.37M
Days Inventory Outstanding------92.54-
Other Current Assets618K552K001.01M01.23M6.19M
Total Non-Current Assets6.77M5.12M25K716K3.73M1.63M16.86M42.76M
Property, Plant & Equipment6.02M4.57M23K693K774K824K1.07M2.46M
Fixed Asset Turnover--775.43x7.95x1.70x0.04x83.63x34.19x
Goodwill00000000
Intangible Assets0000007.68M14.45M
Long-Term Investments750K550K000000
Other Non-Current Assets002K23K2.96M801K8.11M25.84M
Total Assets
27.55M▲ 0%
15.65M▼ 43.2%
26.41M▲ 68.8%
61.45M▲ 132.7%
281.44M▲ 358.0%
233.19M▼ 17.1%
351.15M▲ 50.6%
327.65M▼ 6.7%
Asset Turnover--0.68x0.09x0.00x0.00x0.25x0.26x
Asset Growth %--43.2%68.77%132.69%358.02%-17.14%50.59%-6.69%
Total Current Liabilities5.14M17.93M8.21M8.19M5.44M2.39M23.44M39.15M
Accounts Payable775K3.52M1.22M1.79M1.66M759K9.87M0
Days Payables Outstanding199.21830.5831.623.06K--175.25-
Short-Term Debt3.53M12.3M2.56M3.48M0237K00
Deferred Revenue (Current)003.52M1.46M00557K0
Other Current Liabilities841K2.11M0660K1.46M1.08M2.29M39.15M
Current Ratio4.04x0.59x3.21x7.42x51.01x96.85x14.26x7.28x
Quick Ratio4.04x0.59x3.21x7.42x51.01x96.85x14.04x7.06x
Cash Conversion Cycle-------45.19-
Total Non-Current Liabilities4.21M3.32M32.25M84.53M3.1M37K70.92M174.25M
Long-Term Debt007.46M4.93M0000
Capital Lease Obligations4.21M3.32M0480K251K37K00
Deferred Tax Liabilities00000000
Other Non-Current Liabilities0021.35M76.12M2.85M069.38M174.25M
Total Liabilities9.35M21.25M40.46M92.72M8.55M2.43M94.36M213.39M
Total Debt7.73M15.62M10.02M9.03M481K274K42K0
Net Debt-12.43M5.64M-14.5M-51.03M-210.04M-70.7M-50.77M-41.32M
Debt / Equity0.43x---0.00x0.00x0.00x-
Debt / EBITDA--------
Net Debt / EBITDA--------
Interest Coverage---16.17x-183.53x----
Total Equity
18.2M▲ 0%
-5.6M▼ 130.8%
-14.05M▼ 150.8%
-31.27M▼ 122.5%
272.89M▲ 972.7%
230.76M▼ 15.4%
256.8M▲ 11.3%
114.26M▼ 55.5%
Equity Growth %--130.79%-150.79%-122.52%972.7%-15.44%11.28%-55.51%
Book Value per Share0.55-0.17-0.40-1.086.832.422.511.16
Total Shareholders' Equity18.2M-5.6M-14.05M-31.27M272.89M230.76M256.8M114.26M
Common Stock00223K3K9K10K10K10K
Retained Earnings-39.82M-63.79M-22.01M-42.26M-76.94M-131.3M-123.31M-294.6M
Treasury Stock00000000
Accumulated OCI0000407K49K220K0
Minority Interest00000000

SPRY Cash Flow Statement

ARS Pharmaceuticals, Inc. (SPRY) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-16.88M-18.9M9.07M-17.56M-40.08M-59.27M13.55M-170.87M
Operating CF Margin %--50.86%-318.94%-3045.44%-197553.33%15.2%-202.74%
Operating CF Growth %--11.99%148%-293.6%-128.22%-47.88%122.86%-1361.19%
Net Income-17.58M-23.97M-1.06M-20.24M-34.68M-54.37M8M-171.3M
Depreciation & Amortization1.42M1.55M6K213K319K73K-7.17M1.37M
Stock-Based Compensation003.54M2.83M5.84M9.23M14.53M22.09M
Deferred Taxes001K00000
Other Non-Cash Items2.04M223K121K-4K1.2M-6.88M0-23.03M
Working Capital Changes-433K3.3M6.46M-356K-12.75M-7.33M-1.81M0
Change in Receivables000000-8.18M-17.2M
Change in Inventory000000-5.95M-21.99M
Change in Payables513K4.01M1.79M0-10.29M-2.78M16.43M18.88M
Cash from Investing-449K-96K-917K-55K-199K-87.18M-106.1M56.77M
Capital Expenditures-449K-96K-917K-55K-199K-175K-563K-339K
CapEx % of Revenue--5.14%1%15.12%583.33%0.63%0.4%
Acquisitions00000000
Investments--------
Other Investing000000-7.5M-7.86M
Cash from Financing19.4M8.61M5.1M53.16M190.73M6.9M72.4M104.6M
Debt Issued (Net)-852K8.59M5M-1.82M-8.68M069.38M0
Equity Issued (Net)1000K19K1000K1000K570K1000K1000K0
Dividends Paid00000000
Share Repurchases00000000
Other Financing00-409.11M169K198.84M00104.6M
Net Change in Cash
2.08M▲ 0%
-10.18M▼ 590.8%
14.17M▲ 239.1%
35.54M▲ 150.8%
150.46M▲ 323.3%
-139.55M▼ 192.7%
-20.15M▲ 85.6%
-9.5M▲ 52.9%
Free Cash Flow
-17.32M▲ 0%
-18.99M▼ 9.6%
8.15M▲ 142.9%
-17.62M▼ 316.0%
-40.28M▼ 128.6%
-59.44M▼ 47.6%
12.98M▲ 121.8%
-171.21M▼ 1418.5%
FCF Margin %--45.72%-319.94%-3060.56%-198136.67%14.57%-203.14%
FCF Growth %--9.64%142.93%-316.04%-128.64%-47.58%121.85%-1418.48%
FCF per Share-0.52-0.570.23-0.61-1.01-0.620.13-1.74
FCF Conversion (FCF/Net Income)0.96x0.79x-8.52x0.87x1.16x1.09x1.69x1.00x
Interest Paid00325K576K366K000
Taxes Paid00000000

SPRY Key Ratios

ARS Pharmaceuticals, Inc. (SPRY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025
Return on Equity (ROE)-96.6%-380.61%---28.71%-21.59%3.28%-92.33%
Return on Invested Capital (ROIC)--621.14%----45.43%-1.26%-96.49%
Gross Margin--21.11%96.13%100%100%76.94%-
Net Margin---5.97%-367.65%-2635.41%-181216.67%8.97%-203.25%
Debt / Equity0.43x---0.00x0.00x0.00x-
Interest Coverage---16.17x-183.53x----
FCF Conversion0.96x0.79x-8.52x0.87x1.16x1.09x1.69x1.00x
Revenue Growth----69.13%-76.1%-97.72%297063.33%-5.46%

SPRY SEC Filings & Documents

ARS Pharmaceuticals, Inc. (SPRY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 9, 2026·SEC

Material company update

Nov 10, 2025·SEC

Material company update

Sep 29, 2025·SEC

10-K Annual Reports

3
FY 2026

Mar 9, 2026·SEC

FY 2025

Mar 20, 2025·SEC

FY 2024

Mar 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 13, 2025·SEC

FY 2025

May 14, 2025·SEC

SPRY Frequently Asked Questions

ARS Pharmaceuticals, Inc. (SPRY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

ARS Pharmaceuticals, Inc. (SPRY) reported $84.3M in revenue for fiscal year 2025.

ARS Pharmaceuticals, Inc. (SPRY) saw revenue decline by 5.5% over the past year.

ARS Pharmaceuticals, Inc. (SPRY) reported a net loss of $171.3M for fiscal year 2025.

Dividend & Returns

ARS Pharmaceuticals, Inc. (SPRY) has a return on equity (ROE) of -92.3%. Negative ROE indicates the company is unprofitable.

ARS Pharmaceuticals, Inc. (SPRY) had negative free cash flow of $171.2M in fiscal year 2025, likely due to heavy capital investments.

Explore More SPRY

ARS Pharmaceuticals, Inc. (SPRY) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

→

DCA Calculator

Dollar cost averaging vs lump sum

→

Dividend History

Yield, growth, payout safety & DRIP

→

Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
VCP ScannerFree US Stock Screener & Financial Analysis

Find stocks. Verify deeply. Act with conviction.

Patterns find ideas. Fundamentals build conviction.

Data updated daily

Quick Links

  • Home
  • Screener
  • Themes
  • Market Valuation
  • Valuation
  • Compare
  • Total Return
  • DCA Calculator
  • News
  • Insights
  • Methodology
  • How It Works
  • Profile

Popular Screens

  • VCP Hot
  • VCP Warm
  • Value Screens
  • Growth Screens
  • Momentum Screens
  • Technical Screens
  • Quality Screens

Community

  • Follow @VCPScanner on X

Get weekly stock ideas — free

© 2026 VCP Scanner. All rights reserved.
About·Privacy Policy·Terms of Service
Not financial advice. Do your own research.