SPRYNasdaqPharmaceutical PreparationsFiscal year ends December 31
ARS Pharmaceuticals, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$4.23+0.21 (+5.22%)
Close on Oct 19, 2026
- Market cap
- $420.09M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Operating margin
-212.9%
Net margin
-203.3%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -5.5% | +300.1% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 90.5% | -92.3% | |
| Return on assets | – | – | -50.5% | |
| Current ratio | – | 40.69 | 7.28 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Capex to revenue | – | – | 0.4% | |
| Diluted shares | – | 3M | 99M |
Where the cash went
Fiscal 2021 to 2025, five years combined
ARS Pharmaceuticals generated $301.32M from operations and spent $1.33M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$301.32M
Used
$1.33M
Capital expenditure$1.33M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-203.3%
×Asset turnover0.25×
×Equity multiplier1.83×
=Return on equity, FY2025-92.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -203.3% | 0.25× | 1.83× | -92.3% |
| FY2024 | 9.0% | 0.31× | 1.20× | 3.3% |
| FY2023 | -181216.7% | 0.00× | 1.02× | -21.6% |
| FY2022 | -2635.4% | 0.01× | 1.42× | -28.7% |
| FY2021 | -367.7% | 0.02× | -10.07× | 89.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$171.30M
- Cash generatingOperating cash flow above zero-$170.87M
- Return on assets improvedROA up on the prior year3.4% → -48.8%
- Earnings backed by cashOperating cash flow above net income-$170.87M vs -$171.30M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose14.26 → 7.28
- No dilutionShare count did not rise102M → 99M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.38 → 0.24