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Segments

By product

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Revenue Under Collaboration Agreements$2.59M—
Revenue Under Supply Agreements$323K—

By geography

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Non Us$4.08M+11,909%

Other financials

Income statement

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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

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Market cap$409.72M-59.7%
Enterprise value$498.24M-52.7%
P/S3.5×-3.6×

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×

Where this comes from

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

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: ARS Pharmaceuticals, Inc.’s 10-Q, filed August 13, 2026.

Filed
Aug 13, 2026, 4:05 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-349140
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Product revenue, net$26,210$12,800$43,662$20,563
Revenue under collaboration agreements572,5942,5462,804
Revenue under supply agreements7,39132310,131323
Total revenue33,65815,71756,33923,690
Operating expenses:
Cost of goods sold (including related party amounts of $1,851, $866, $3,084, and $1,354, respectively)12,8464,98419,1326,078
Research and development (including related party amounts of $612, $582, $1,279, and $1,245, respectively)4,6984,0359,0346,987
Selling, general and administrative (including related party amounts of $125, $107, $261, and $231, respectively)77,57954,312149,78395,416

Item 1. Financial Statements

FAQ

What is ARS Pharmaceuticals, Inc.'s total revenue?
ARS Pharmaceuticals, Inc. (SPRY) reported total revenue of $33.66M in Q2 2026.
How has ARS Pharmaceuticals, Inc.'s total revenue changed year-over-year?
ARS Pharmaceuticals, Inc.'s total revenue increased by 114.2% year-over-year, from $15.72M to $33.66M.
What is the long-term trend for ARS Pharmaceuticals, Inc.'s total revenue?
Over 4 years (2021 to 2025), ARS Pharmaceuticals, Inc.'s total revenue has grown at a 97.8% compound annual growth rate (CAGR), from $5.51M to $84.28M.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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