ARS Pharmaceuticals, Inc. (SPRY)
ARS Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes treatments for severe allergic reactions in the United States and internationally. The company is involved in the development of neffy, a needle-free intranasal delivery of epinephrine for emergency treatment of Type I allergic reactions, including anaphylaxis. ARS Pharmaceuticals, Inc. was founded in 2015 and is headquartered in San Diego, California.
- Symbol
- SPRY
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Biotechnology
- Market cap
- $445.48M
- 52 week range
- 4.07 - 13.15
Valuation
- Share price
- $4.18 (close of 2026-09-23)
- P/E (TTM)
- -2.06x
- Price to book
- 35.60x
- Price to free cash flow
- -2.27x
- Enterprise value
- $398.31M
- Book value per share
- $0.13
Price performance
| Period | Change |
|---|
| 1 day | -3.91% |
| 5 days | -1.65% |
| 1 month | -24.14% |
| 3 months | -59.34% |
| 6 months | -45.50% |
| Year to date | -64.12% |
| 1 year | -57.95% |
| 3 years | +5.56% |
| 5 years | -63.53% |
| All time | -83.28% |
Profitability and growth
- Return on equity
- -149.92%
- Return on assets
- -52.28%
- Return on capital employed
- -62.20%
- Gross margin
- 75.77%
- Net margin
- -203.25%
- EBITDA margin
- -211.30%
- Revenue growth
- -5.46%
- Net income growth
- -2241.76%
- Free cash flow growth
- -1418.48%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -44.13%
- Current ratio
- 3.48x
- Net debt to EBITDA
- 0.23x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $84.28M
- Cost of revenue
- $20.42M
- Gross profit
- $63.85M
- EBITDA
- $-178.08M
- Net income
- $-171.30M
- Earnings per share
- $-1.74
- Research and development
- $13.18M
- Shares outstanding
- 98.57M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $84.28M | $63.85M | $-171.30M | $-1.74 |
| 2024-12-31 | $89.15M | - | $8.00M | $0.08 |
| 2023-12-31 | $30.00K | - | $-54.37M | $-0.57 |
| 2022-12-31 | $1.32M | - | $-34.68M | $-0.87 |
| 2021-12-31 | $5.51M | - | $-20.24M | $-0.70 |
| 2020-12-31 | - | - | $-32.95M | $-11.33 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 75.77% | -203.25% | -149.92% | - |
| 2024-12-31 | - | 8.97% | 3.11% | - |
| 2023-12-31 | - | -181216.67% | -23.56% | -2525.06% |
| 2022-12-31 | - | -2635.41% | -12.71% | - |
| 2021-12-31 | - | -367.65% | 64.74% | - |
| 2020-12-31 | - | - | 234.46% | - |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $244.99M | $96.37M |
| 2024-12-31 | $314.02M | - |
| 2023-12-31 | $228.36M | - |
| 2022-12-31 | $274.38M | - |
| 2021-12-31 | $60.06M | - |
| 2020-12-31 | $386.57M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $-171.21M | $22.09M |
| 2024-12-31 | $12.98M | $14.53M |
| 2023-12-31 | $-59.44M | $9.23M |
| 2022-12-31 | $-40.28M | $5.84M |
| 2021-12-31 | $-17.62M | $2.83M |
| 2020-12-31 | $-32.11M | $2.64M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-09
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-13 | Jun/2026 | - |
| 2026-05-15 | - | - |
| 2026-03-09 | - | - |
| 2025-11-10 | - | - |
| 2025-08-13 | - | - |
| 2025-05-14 | - | - |
| 2025-03-20 | - | - |
| 2024-11-13 | - | - |
Filings and sources
- Company website
- ars-pharma.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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