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SPRYARS Pharmaceuticals, Inc.
$4.07$404M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
SPRY logo

ARS Pharmaceuticals, Inc.

SPRY
NASDAQ · Biotechnology
$4.07
At close - Oct 2, 4:00 PM EDT - USD
Market Cap$404M
P/E-2.3x
52W High$13.15
Volume1.83M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Volatile Revenue and SG&A Overhang Strain Liquidity

ARS Pharmaceuticals' investment thesis is centered on the uncertain commercial trajectory of its product, which has generated erratic quarterly revenue ranging from $2.1M to $86.6M over the past year. The primary concern is the company's massive SG&A expense, ...

GrowthMixed
ProfitabilityStrained
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

SPRY price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

-107% Peers

P/E is 107% below peer median

03

Market leadership

RS 8 · Lag

Laggard (Underperforming 92% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 13

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
SPRY-64.58%
S&P 500 (^GSPC)+12.66%
1-Year Return
SPRY-60.41%
S&P 500 (^GSPC)+15.01%
3-Year Return
SPRY+5.99%
S&P 500 (^GSPC)+78.27%
5-Year Return
SPRY-59.50%
S&P 500 (^GSPC)+98.34%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-2.3x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-2.3x
135.1x
0th· Low
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
83.2x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$84M-5.5% YoY
Net income
-$171M-2241.8% YoY
Free cash flow
-$171M-1418.5% YoY
Operating margin
-212.9%-209.5 pts YoY
ROIC (TTM)-71.7%
Avg ROIC 5Y-
ROE (TTM)-92.3%
Piotroski Score3 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/12 (25%)
Revenue Beat Rate5/12 (56%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 13, 2026
-$0.63-31.9%
vs -$0.48
$34M+7.5%
vs $31M
Q2 2026
May 15, 2026
-$0.61-15.1%
vs -$0.53
$23M+2.2%
vs $22M
Q2 2026
Mar 9, 2026
-$0.42+0.0%
vs -$0.42
$28M+9.7%
vs $26M
Q4 2025
Nov 10, 2025
-$0.52-15.6%
vs -$0.45
$33M+27.0%
vs $26M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 24, 2026
Bragar Eagel & Squire, P.C. Reminds ARS Pharmaceuticals Investors to Contact the Firm Before October 5th Seeking Lead Plaintiff Role

If you purchased or acquired ARS securities between March 9, 2026, and June 24, 2026 and would like to discuss your legal rights, contact Bragar Eagel & Squire partners Brandon Walker or Melissa Fortunato by email at [email protected] or by telephone at (212) 355-4648.

Newsfile Corp·Sep 16, 2026
Kaplan Fox Urges ARS Pharmaceuticals Inc. (SPRY) Investors Seeking Recovery to Contact the Firm Before October 5, 2026

New York, New York--(Newsfile Corp. - September 16, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against ARS Pharmaceuticals Inc. ("ARS" or the "Company") (NASDAQ: SPRY) on behalf of investors that purchased or otherwise acquired ARS securities between March 9, 2026 and June 24, 2026 (the "Class Period"). CLICK HERE TO JOIN THE CASE If you are an investor in ARS and have suffered losses, you may CLICK HERE to contact us.

GuruFocus·Sep 8, 2026
ARS Pharmaceuticals, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - SPRY

ARS Pharmaceuticals, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - SPRY PR Newswir

PRNewsWire·Sep 8, 2026
ARS Pharmaceuticals, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - SPRY

LOS ANGELES, Sept. 8, 2026 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against ARS Pharmaceuticals, Inc. ("ARS" or "the Company") (NASDAQ: SPRY) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Filtered for ARS Pharmaceuticals, Inc.More Headlines
04

Compare before deciding

Benchmark SPRY against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for ARS Pharmaceuticals, Inc. (SPRY)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
SPRY logoSPRYARS Pharmaceuticals, Inc.Current
$4.07$404.16M-2.34-5.46%-203.25%-92.33%—
ADMA logoADMAADMA Biologics, Inc.
$9.72$2.25B16.2019.63%32.98%39.59%—
PRAX logoPRAXPraxis Precision Medicines, Inc.
$295.51$8.24B-21.92-100%—-34.15%—
NTRA logoNTRANatera, Inc.
$410.35$58.77B-269.9735.9%-7.11%-11.73%—
TLRY logoTLRYTilray Brands, Inc.
$3.61$403.71M-3.31-18.77%-12.9%-8.09%—
HALO logoHALOHalozyme Therapeutics, Inc.
$109.86$13.03B42.9137.55%24.86%180.63%—

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

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

SPRY SEC Filings & Documents

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

8-K Announcements

6
Material company update

Aug 13, 2026·SEC

Material company update

Jul 17, 2026·SEC

Material company update

Jul 7, 2026·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 2026

Aug 13, 2026·SEC

FY 2026

May 15, 2026·SEC

FY 2025

Nov 10, 2025·SEC

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SPRY Frequently Asked Questions

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

Growth & Financials
What is ARS Pharmaceuticals, Inc.'s revenue?

ARS Pharmaceuticals, Inc. (SPRY) reported $116.9M in revenue for fiscal year 2025.

How fast is ARS Pharmaceuticals, Inc. growing?

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

Is SPRY profitable?

ARS Pharmaceuticals, Inc. (SPRY) reported a net loss of $215.4M for fiscal year 2025.

Dividend & Returns
What is SPRY's return on equity?

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

What is ARS Pharmaceuticals, Inc.'s free cash flow?

ARS Pharmaceuticals, Inc. (SPRY) had negative free cash flow of $196.6M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in SPRY back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →