ARS Pharmaceuticals, Inc.
SPRY- Exchange
- Nasdaq
- Industry
- Pharmaceutical Preparations
- SEC CIK
- 0001671858
No open-market purchases or sales by ARS Pharmaceuticals, Inc. insiders were filed in the last 90 days; 208 institutions reported holding it in 13F filings for Q2 2026, worth $726.0M in total; Third Point is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 8, 2026, 10:56 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $171.3M (203.3% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 9, 2026 | Jan 13, 2025 | Mar 7, 2024 | Feb 14, 2023 | Mar 31, 2022 |
| Revenue | $84.3M | $89.1M | $30.0K | $1.32M | – |
| Operating expenses | $263.7M | $92.2M | $67.5M | $36.8M | $89.6M |
| Research and development | $13.2M | $19.6M | $20.3M | $18.4M | $61.5M |
| Selling, general and administrative | $230.1M | $71.7M | $940.0K | $18.5M | $28.1M |
| Operating income | -$179.4M | -$3.08M | -$67.5M | -$35.5M | -$89.6M |
| Income tax | -$80.0K | $288.0K | $0 | $0 | $0 |
| Net income | -$171.3M | $8.00M | -$54.4M | -$34.7M | -$89.5M |
| EPS, basic | $-1.74 | $0.08 | $-0.57 | $-0.87 | – |
| EPS, diluted | $-1.74 | $0.08 | $-0.57 | $-0.87 | – |
| Weighted shares, basic | 98.6M | 96.9M | 95.2M | 40.0M | – |
| Weighted shares, diluted | 98.6M | 102.4M | 95.2M | 40.0M | – |
| Margins and growth | |||||
| Operating margin | -212.9% | -3.5% | -225066.7% | -2698.8% | – |
| Net margin | -203.3% | 9.0% | -181216.7% | -2635.4% | – |
| Revenue growth, year over year | −5.5% | +297,063.3% | −97.7% | – | – |
| Net income growth, year over year | −2,241.8% | – | – | – | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 9, 2026 | Jan 13, 2025 | Mar 7, 2024 | Feb 14, 2023 | Mar 31, 2022 |
| Cash and equivalents | $41.3M | $50.8M | $71.0M | $210.5M | $254.0M |
| Short-term investments | $203.7M | $263.2M | $157.4M | $63.9M | – |
| Accounts receivable | $25.3M | $8.18M | – | – | – |
| Inventory | $31.4M | $5.21M | – | – | – |
| Total current assets | $284.9M | $334.3M | $231.7M | $277.7M | $261.5M |
| Property, plant and equipment | $2.46M | $1.03M | $574.0K | $329.0K | $2.21M |
| Intangible assets | $14.5M | $7.37M | – | – | – |
| Total assets | $327.7M | $351.2M | $233.2M | $281.4M | $333.5M |
| Accounts payable | $5.72M | $9.87M | $759.0K | $1.66M | $2.08M |
| Total current liabilities | $39.1M | $23.4M | $2.39M | $5.44M | $14.9M |
| Long-term debt | $96.4M | – | – | – | – |
| Total liabilities | $213.4M | $94.4M | $2.43M | $8.55M | $19.7M |
| Shareholders' equity | $114.3M | $256.8M | $230.8M | $272.9M | $313.8M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 9, 2026 | Jan 13, 2025 | Mar 7, 2024 | Feb 14, 2023 | Mar 31, 2022 |
| Operating cash flow | -$170.9M | $13.5M | -$59.3M | -$40.1M | -$66.8M |
| Capital expenditures | $339.0K | $563.0K | $175.0K | $199.0K | $1.37M |
| Free cash flow | -$171.2M | $13.0M | -$59.4M | -$40.3M | -$68.1M |
| Depreciation and amortization | $1.37M | $100.0K | $100.0K | $319.0K | – |
| Stock-based compensation | $22.1M | $14.5M | $9.23M | $5.84M | $19.2M |
| Investing cash flow | $56.8M | -$106.1M | -$87.2M | -$199.0K | -$66.5M |
| Financing cash flow | $104.6M | $72.4M | $6.90M | $190.7M | $614.0K |
| Net change in cash | -$9.50M | -$20.2M | -$139.5M | $150.5M | – |
| Ratio | |||||
| Stock-based compensation, % of revenue | 26.2% | 16.3% | 30783.3% | 444.0% | – |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Nov 3, 2026 | 100.5M | +1.7% | SEC |
| Aug 11, 2026 | 99.4M | +0.6% | SEC |
| May 13, 2026 | 99.3M | +1.1% | SEC |
| Mar 4, 2026 | 99.3M | +1.2% | SEC |
| Nov 6, 2025 | 98.8M | +1.7% | SEC |
| Aug 11, 2025 | 98.8M | +1.9% | SEC |
| May 12, 2025 | 98.2M | +1.4% | SEC |
| Mar 17, 2025 | 98.1M | +1.7% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.