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Other financials

Income statement

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Revenue$22.7M+184%
Operating income-$60.1M-61.8%
Net income-$60.6M-78.6%
EPS (diluted)-$0.61-74.3%

Balance sheet

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Cash & equivalents$24.3M-39.0%
Total debt$96.5M+132,122%
Total equity$61.3M-73.2%
Total assets$287.6M-12.1%

Cash flow

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Operating cash flow-$44.9M-10.3%
CapEx--100%
Free cash flow-$44.9M-10.1%

Valuation

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Market cap$586.88M-63.5%
Enterprise value$659.08M-57.7%
P/S5.9×-8.4×

Profitability

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Operating margin-204.5%
Net margin-200%-219pp
FCF margin-177.1%-206pp

Returns & leverage

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Return on equity-136.4%-144pp
Debt / equity1.6×+1.6×
Current ratio4.9×-6.1×

Where this comes from

Reported directly by ARS Pharmaceuticals, Inc. in its filing.

Tagged under the XBRL concept us-gaap:Liabilities.

The source filing: ARS Pharmaceuticals, Inc.’s 10-Q, filed May 15, 2026.

Filed
May 15, 2026, 6:17 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-225142
Line itemMarch 31, 2026December 31, 2025
Financing liability74,67372,140
Contract liability, net of current portion9781,130
Other accrued liabilities4,4784,605
Total liabilities226,263213,394
Commitments and contingencies (Note 9)
Stockholders’ equity
Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock, $0.0001 par value per share; 200,000,000 shares authorized at March 31, 2026 and December 31, 2025; 99,300,137 and 99,290,926 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively1010

Item 1. Financial Statements

FAQ

What is ARS Pharmaceuticals, Inc.'s total liabilities?
ARS Pharmaceuticals, Inc. (SPRY) reported total liabilities of $226.26M in Q1 2026.
How has ARS Pharmaceuticals, Inc.'s total liabilities changed year-over-year?
ARS Pharmaceuticals, Inc.'s total liabilities increased by 130.1% year-over-year, from $98.34M to $226.26M.
What is the long-term trend for ARS Pharmaceuticals, Inc.'s total liabilities?
Over 5 years (2020 to 2025), ARS Pharmaceuticals, Inc.'s total liabilities has grown at a 78.0% compound annual growth rate (CAGR), from $11.93M to $213.39M.
What does total liabilities mean?
The sum of all current and non-current obligations — everything the company owes to creditors, employees, governments, and other stakeholders.

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