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ARS Pharmaceuticals, Inc. SPRY Q4 2025 Annual earnings

Reported March 9, 2026 · Before market open

Revenue$28.1MBeat by $2.5MDiluted EPS-$0.42In line
Revenue estimate$25.6M
EPS estimate-$0.42

Next report

Aug 12, 2026 (in a month)
Revenue estimate$31.3M
EPS estimate-$0.48

Financials

Q4 2025

Income statement

See full
Revenue$28.1M-67.6%
Operating income-$41.5M—
Net income-$41.3M-183%
EPS (diluted)-$0.42-182%

Balance sheet

See full
Cash & equivalents$41.3M-18.7%
Total debt$96.4M+229,362%
Total equity$114.3M-55.5%
Total assets$327.7M-6.7%

Cash flow

See full
Operating cash flow-$43.5M-204%
CapEx--100%
Free cash flow-$43.5M-204%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.15B+12.3%
Enterprise value$1.21B+23.8%
P/S13.7×+2.2×

Profitability

See full
Operating margin-212.9%—
Net margin-203.3%-212pp
FCF margin-203.1%-218pp

Returns & leverage

See full
Return on equity-92.3%-95.6pp
Debt / equity0.8×+0.8×
Current ratio7.3×-7.0×

Versus estimates

Revenue

Q1 2026$22.7MBeat by $481.0K
Q4 2025$28.1MBeat by $2.5M
Q3 2025$32.5MBeat by $6.9MQ2 2025$15.7MMiss by $12.0MQ1 2025$8.0MMiss by $6.7MQ4 2024$86.6MBeat by $73.7M

Diluted EPS

Q1 2026-$0.61Miss by $0.08
Q4 2025-$0.42In line
Q3 2025-$0.52Miss by $0.07Q2 2025-$0.46Miss by $0.05Q1 2025-$0.35In lineQ4 2024$0.52Beat by $0.56

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Questions, answered.

When did ARS Pharmaceuticals, Inc. report Q4 2025 earnings?
ARS Pharmaceuticals, Inc. (SPRY) reported Q4 2025 earnings on March 9, 2026 before market open.
What were ARS Pharmaceuticals, Inc.'s Q4 2025 revenue and EPS?
ARS Pharmaceuticals, Inc. reported revenue of $28.1M and diluted EPS of $-0.42 for Q4 2025.
Did ARS Pharmaceuticals, Inc. beat estimates in Q4 2025?
Revenue beat the consensus estimate of $25.6M by $2.5M. EPS beat the consensus estimate of $-0.42 by $0.00.
How did ARS Pharmaceuticals, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 67.5% from $86.6M a year earlier.
Where can I find ARS Pharmaceuticals, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-097467) and the 10-K periodic report (0001193125-26-097478) directly on SEC EDGAR. The filing index links above go to sec.gov.