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Reported August 13, 2026 · After market close

Revenue$33.7MBeat by $2.3M
EPS-$0.63Miss by $0.15
Revenue estimate$31.3M
EPS estimate-$0.48
It is a privilege to lead ARS Pharma at this pivotal time, and my conviction in the opportunity ahead has only grown since stepping into this role. As the first and only needle-free epinephrine option, neffy is well positioned to become the standard of care for patients and caregivers in this multi-billion-dollar market. Today, we are announcing a shift in focus to provider adoption, with a more efficient commercial strategy intended to drive market share growth without sacrificing revenue. We believe that provider awareness and recommendation will be the cornerstone to growing the neffy brand. Our confidence in continued revenue growth, along with a more efficient commercial model, is expected to provide the foundation for long-term value creation. Beyond neffy, advancing our intranasal epinephrine platform into CSU unlocks a potential major growth opportunity in an area of high unmet need built on top of our existing commercial infrastructure.
Donn Casale

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$42.8M
EPS estimate-$0.33

Financials

Q2 2026

Income statement

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Revenue$33.7M+114%
Operating income-$61.5M-29.1%
Net income-$62.3M-38.9%
EPS (diluted)-$0.63-37.0%

Balance sheet

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Cash & equivalents$8.2M-84.2%
Total debt$96.7M+5,720%
Total equity$12.5M-93.5%
Total assets$249.5M-20.4%

Cash flow

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Operating cash flow-$60.9M-53.9%
CapEx--100%
Free cash flow-$60.9M-53.7%

Valuation & ratios

Valuation

as of 09/17/26
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Market cap$414.2M-56.2%
Enterprise value$502.71M-43.9%
P/S3.5×-4.9×

Profitability

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Operating margin-185%
Net margin-184.2%-264pp
FCF margin-168.1%-277pp

Returns & leverage

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Return on equity-210.3%-241pp
Debt / equity7.7×+7.7×
Current ratio3.5×-2.7×

Segments

By geography

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Non Us$4.1M+11,909%

FAQ

When did ARS Pharmaceuticals, Inc. report Q2 2026 earnings?
ARS Pharmaceuticals, Inc. (SPRY) reported Q2 2026 earnings on August 13, 2026 after market close.
What were ARS Pharmaceuticals, Inc.'s Q2 2026 revenue and EPS?
ARS Pharmaceuticals, Inc. reported revenue of $33.7M and eps of $-0.63 for Q2 2026.
Did ARS Pharmaceuticals, Inc. beat estimates in Q2 2026?
Revenue beat the consensus estimate of $31.3M by $2.3M. EPS missed the consensus estimate of $-0.48 by $0.15.
How did ARS Pharmaceuticals, Inc.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 114.2% from $15.7M a year earlier and eps declined 37.0% from $-0.46.
Where can I find ARS Pharmaceuticals, Inc.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-349127) and the 10-Q periodic report (0001193125-26-349140) directly on SEC EDGAR. The filing index links above go to sec.gov.