ARS Pharmaceuticals, Inc. financials
Source: EDGAR filings · Built 2026-06-02T04:05:13Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -171.21M | 12.98M | -59.44M | -40.28M | -17.62M | -32.11M |
| EBITDA | -178.08M | -3.00M | -67.42M | -35.42M | -19.24M | -32.28M |
| Working Capital | 245.75M | 310.86M | 229.34M | 272.26M | 52.54M | 381.06M |
| Net Debt | 55.06M | -50.77M | -70.70M | -210.04M | -45.81M | -383.35M |
| Gross Margin | — | — | 100.00% | — | — | — |
| Operating Margin | -212.92% | -3.46% | -225066.67% | -2698.78% | -353.32% | — |
| Net Margin | -203.25% | 8.97% | -181216.67% | -2635.41% | -367.65% | — |
| Return on Equity (ROE) | -149.92% | 3.11% | -23.56% | -12.71% | 64.74% | 234.46% |
| Return on Assets (ROA) | -52.28% | 2.28% | -23.31% | -12.32% | -32.94% | -8.35% |
| Current Ratio | 7.28× | 14.26× | 96.92× | 51.01× | 7.42× | 40.69× |
| Debt-to-Equity | 0.84× | 0.00× | 0.00× | 0.00× | -0.46× | -0.23× |
| Effective Tax Rate | 0.05% | 3.48% | 0.00% | — | — | — |
| Cash Conversion Ratio | 1.00× | 1.69× | 1.09× | 1.16× | 0.87× | 0.95× |
| Accruals Ratio | -0.00× | -0.02× | 0.02× | 0.02× | -0.04× | -0.00× |
| SBC % of Revenue | 26.22% | 16.30% | 30783.33% | 444.00% | 51.38% | — |
| CapEx Coverage | -504.03× | 24.06× | -338.66× | -201.40× | -319.29× | -34.02× |
| Free Cash Flow Per Share | $-1.74 | $0.13 | $-0.62 | $-1.01 | $-0.61 | $-11.04 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | 131.88× | — | — | — | — |
| P/FCF | — | 83.20× | — | — | — | — |
| FCF Yield | — | 1.20% | — | — | — | — |
| P/S | 13.73× | 11.59× | — | 608.92× | 36.73× | — |
| P/B | 10.12× | 4.02× | 2.29× | 2.94× | — | — |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 84.28M | 89.15M | 30.00K | 1.32M | 5.51M | — |
| Cost of Goods and Services Sold | — | — | 0 | — | — | — |
| Research and Development Expense | 13.18M | 19.58M | 20.27M | 18.38M | 20.27M | 24.58M |
| Selling, General and Administrative Expense | 230.12M | 71.67M | 47.28M | 603.00K | — | — |
| Operating Expenses | 263.73M | 92.23M | 67.55M | 36.83M | 24.96M | 32.92M |
| Operating Income (Loss) | -179.45M | -3.08M | -67.52M | -35.52M | -19.45M | -32.92M |
| Income Tax Expense (Benefit) | -80.00K | 288.00K | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Parent | -171.30M | 8.00M | -54.37M | -34.68M | -20.24M | -32.95M |
| Earnings Per Share, Basic | $-1.74 | $0.08 | $-0.57 | $-0.87 | $-0.70 | — |
| Weighted Average Number of Shares Outstanding, Basic | 98.57M | 96.94M | 95.22M | 39.96M | 28.87M | — |
| Earnings Per Share, Diluted | $-1.74 | $0.08 | $-0.57 | $-0.87 | $-0.70 | — |
| Weighted Average Number of Shares Outstanding, Diluted | 98.57M | 102.39M | 95.22M | 39.96M | 28.87M | — |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 41.32M | 50.82M | 70.97M | 210.52M | 60.06M | 386.57M |
| Assets, Current | 284.90M | 334.30M | 231.73M | 277.70M | 60.73M | 390.66M |
| Assets | 327.65M | 351.15M | 233.19M | 281.44M | 61.45M | 394.80M |
| Long-term Debt | 96.37M | 0 | — | — | — | — |
| Liabilities, Current | 39.15M | 23.44M | 2.39M | 5.44M | 8.19M | 9.60M |
| Liabilities | 213.39M | 94.36M | 2.43M | 8.55M | 16.68M | 11.93M |
| Stockholders' Equity Attributable to Parent | 114.26M | 256.80M | 230.76M | 272.89M | -31.27M | -14.05M |
| Common Stock, Shares, Outstanding | 99.29M | 97.95M | 96.41M | 93.94M | 30.37M | 34.70M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -170.87M | 13.55M | -59.27M | -40.08M | -17.56M | -31.20M |
| Payments to Acquire Property, Plant, and Equipment | 339.00K | 563.00K | 175.00K | 199.00K | 55.00K | 917.00K |
| Net Cash Provided by (Used in) Investing Activities | 56.77M | -106.10M | -87.18M | -199.00K | -55.00K | -917.00K |
| Net Cash Provided by (Used in) Financing Activities | 104.60M | 72.40M | 6.90M | 190.73M | 53.16M | 408.51M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -44.95M | -43.48M | -127.72M | -80.48M | -40.83M | 41.70M |
| EBITDA | -59.75M | -41.05M | — | — | -36.90M | 47.23M |
| Working Capital | 195.62M | 245.75M | 287.99M | 235.84M | 276.24M | 310.86M |
| Net Debt | 72.20M | 55.06M | 38.20M | -49.88M | -39.79M | -50.77M |
| Operating Margin | -265.18% | -147.63% | -163.66% | -302.95% | -466.29% | 54.51% |
| Net Margin | -267.26% | -147.13% | -157.38% | -285.57% | -425.69% | 57.67% |
| Return on Equity (ROE) | -98.87% | -36.17% | -34.64% | -23.34% | -14.82% | 19.44% |
| Return on Assets (ROA) | -21.08% | -12.61% | -13.72% | -14.32% | -10.37% | 14.22% |
| Current Ratio | 4.94× | 7.28× | 6.66× | 6.17× | 11.00× | 14.26× |
| Debt-to-Equity | 1.57× | 0.84× | 0.66× | 0.01× | 0.00× | 0.00× |
| Cash Conversion Ratio | 0.74× | 1.05× | 2.49× | 1.79× | 1.20× | 0.84× |
| Accruals Ratio | -0.05× | 0.01× | 0.20× | 0.11× | 0.02× | 0.02× |
| SBC % of Revenue | 32.73% | 20.43% | 17.50% | 34.17% | 66.45% | 4.92% |
| CapEx Coverage | — | — | -375.76× | -565.73× | -447.71× | 139.09× |
| Free Cash Flow Per Share | $-0.45 | $-0.44 | $-1.29 | $-0.82 | $-0.42 | $0.41 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | — | — | 150.71× |
| P/S | 8.06× | 13.73× | 6.96× | 15.33× | 12.71× | 11.59× |
| P/B | 13.01× | 10.12× | 6.73× | 8.96× | 5.39× | 4.02× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 22.68M | 28.09M | 32.50M | 15.72M | 7.97M | 86.58M |
| Research and Development Expense | 4.34M | 3.44M | 2.75M | 4.04M | 2.95M | 3.03M |
| Selling, General and Administrative Expense | 72.20M | 59.95M | 74.75M | 54.31M | 41.10M | 35.49M |
| Operating Expenses | 82.83M | 69.55M | 85.69M | 63.33M | 45.15M | 39.38M |
| Operating Income (Loss) | -60.15M | -41.47M | -53.19M | -47.61M | -37.18M | 47.20M |
| Net Income (Loss) Attributable to Parent | -60.62M | -41.32M | -51.15M | -44.88M | -33.94M | 49.93M |
| Earnings Per Share, Basic | $-0.61 | $-0.42 | $-0.52 | $-0.46 | $-0.35 | $0.51 |
| Weighted Average Number of Shares Outstanding, Basic | 99.30M | 98.57M | 98.81M | 98.36M | 98.06M | 96.94M |
| Earnings Per Share, Diluted | $-0.61 | $-0.42 | $-0.52 | $-0.46 | $-0.35 | $0.51 |
| Weighted Average Number of Shares Outstanding, Diluted | 99.30M | 98.57M | 98.81M | 98.36M | 98.06M | 102.39M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 24.32M | 41.32M | 59.56M | 51.54M | 39.86M | 50.82M |
| Assets, Current | 245.24M | 284.90M | 338.86M | 281.44M | 303.86M | 334.30M |
| Assets | 287.57M | 327.65M | 372.80M | 313.47M | 327.32M | 351.15M |
| Long-term Debt | 96.52M | 96.37M | 96.23M | — | — | 0 |
| Liabilities, Current | 49.61M | 39.15M | 50.88M | 45.60M | 27.62M | 23.44M |
| Liabilities | 226.26M | 213.39M | 225.15M | 121.15M | 98.34M | 94.36M |
| Stockholders' Equity Attributable to Parent | 61.31M | 114.26M | 147.66M | 192.32M | 228.97M | 256.80M |
| Common Stock, Shares, Outstanding | 99.30M | 99.29M | 98.84M | 98.70M | 98.13M | 97.95M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -44.95M | -43.48M | -127.38M | -80.33M | -40.74M | 42.00M |
| Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 339.00K | 142.00K | 91.00K | 302.00K |
| Net Cash Provided by (Used in) Investing Activities | 27.79M | 24.11M | 32.65M | 77.64M | 29.06M | -101.76M |
| Net Cash Provided by (Used in) Financing Activities | 159.00K | 1.13M | 103.47M | 3.42M | 725.00K | 70.92M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (SPRY CIK 0001671858),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.