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ARS Pharmaceuticals, Inc. SPRY Q4 2025 Annual earnings

Reported March 9, 2026 · Before market open

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

Next report

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

Financials

Q4 2025

Income statement

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

Balance sheet

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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

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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

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

Returns & leverage

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

FAQ

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 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.