ARS Pharmaceuticals, Inc. (SPRY)
ARS Pharmaceuticals, Inc. specializes in creating ARS-1, an innovative intranasal epinephrine spray utilizing advanced absorption technology. This product serves as a crucial intervention for individuals and their households who are susceptible to life-threatening allergic reactions caused by food, pharmaceuticals, or insect stings. Among its offerings is Neffy, a low-dose version of its intranasal epinephrine nasal spray. Established in 2015, the firm operates out of San Diego, California.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
ARS Pharmaceuticals, Inc.
NASDAQ:SPRYHealthcare · Biotechnology
-7.65%$3.38
AH$3.44+1.78%vs close
Mkt Cap$336.13M
Float48.99M
O/S99.45M
Vol
$ Vol
RVOL
Inst Own91.2%
SI40.5%
Earnings
Dilution
Financials Summary
Revenue$84.28M
Net Income-$171.3M
Total Assets$327.65M
Free Cash Flow-$171.21M
Debt & Equity
Debt 46%
Equity 54%
Total Debt$96.37M
Total Equity$114.26M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in SPRY's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$327.65M
Liabilities$213.39M
Accounts Receivable$26.35M
Accounts Payable$5.72M
Inventory$8.37M
PP&E (Net)$2.46M
Goodwill$0
Intangible Assets$14.45M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $84.28M | $89.15M | $30K | $1.32M | $5.51M | $17.84M | $0 | $0 |
| YoY Growth | -5.5% | 297063.3% | -97.7% | -76.1% | -69.1% | - | - | - |
| Cost of Revenue | $20.42M | $20.56M | $0 | $17.12M | $213K | $14.07M | $1.55M | $1.42M |
| Gross Profit | $63.85M | $68.59M | $30K | -$15.8M | $5.29M | $3.77M | -$1.55M | -$1.42M |
| Gross Margin | 75.8% | 76.9% | 100.0% | -1200.9% | 96.1% | 21.1% | - | - |
| Research and Development | $13.18M | $19.58M | $20.27M | $18.38M | $20.27M | $14.07M | $21.5M | $14.8M |
| Selling, General, and Administrative | $230.12M | $0 | $47.28M | $18.66M | $4.69M | $4.23M | $1.02M | $2.1M |
| Other | $0 | $52.09M | $0 | -$17.32M | -$213K | -$14.07M | $0 | $0 |
| Total Operating Expenses | $243.3M | $71.67M | $67.55M | $19.71M | $24.75M | $4.23M | $22.52M | $16.9M |
| Operating Income (EBIT) | -$179.45M | -$3.08M | -$67.52M | -$35.52M | -$19.45M | -$469K | -$24.07M | -$18.32M |
| Operating Margin | -212.9% | -3.5% | -225066.7% | -2698.8% | -353.3% | -2.6% | - | - |
| Interest Expense | $2.6M | $0 | $0 | $0 | $106K | $29K | - | $0 |
| Interest Income | $10.67M | $0 | $0 | $0 | $800K | $400K | $100K | $43K |
| Other Income (Expense) | $8.07M | $11.37M | $13.15M | $834K | -$789K | -$596K | $100K | $741K |
| Income Before Tax (EBT) | -$171.38M | $8.29M | -$54.37M | -$34.68M | -$20.24M | -$1.06M | -$23.97M | -$17.58M |
| Income Tax Expense | -$80K | $288K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$171.3M | $8M | -$54.37M | -$34.68M | -$20.24M | -$1.06M | -$23.97M | -$17.58M |
| Net Income Margin | -203.3% | 9.0% | -181216.7% | -2635.4% | -367.7% | -6.0% | - | - |
| Supplementary Data | ||||||||
| EPS | -1.74 | 0.08 | -0.57 | -0.87 | -0.70 | -0.03 | -0.72 | -0.53 |
| Diluted EPS | -1.74 | 0.08 | -0.57 | -0.87 | -0.70 | -0.03 | -0.72 | -0.53 |
| Weighted Average OS | 98.57M | 96.94M | 95.22M | 39.96M | 28.87M | 34.70M | 33.07M | 33.07M |
| EBITDA | -$167.41M | $8.37M | -$54.29M | -$34.36M | -$19.92M | -$463K | -$22.52M | -$16.9M |
| EBITDA Margin | -198.6% | 9.4% | -180973.3% | -2611.2% | -361.9% | -2.6% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $41.32M | $50.82M | $70.97M | $210.52M | $60.06M | $24.52M | $9.98M | $20.16M |
| Short-Term Investments | $203.67M | $263.2M | $157.39M | $63.86M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $244.99M | $314.02M | $228.36M | $274.38M | $60.06M | $24.52M | $9.98M | $20.16M |
| Accounts Receivable | $26.35M | $9.16M | $795K | $0 | $1K | $384K | $0 | $0 |
| Inventory | $8.37M | $5.21M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $5.19M | $1.23M | $0 | $1.01M | $0 | $0 | $552K | $618K |
| Total Current Assets | $284.9M | $334.3M | $231.56M | $277.7M | $60.73M | $26.38M | $10.53M | $20.78M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $2.46M | $1.07M | $824K | $774K | $693K | $23K | $4.57M | $6.02M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $14.45M | $7.68M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $550K | $750K |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $25.84M | $8.11M | $801K | $2.96M | $23K | $2K | $0 | $0 |
| Total Long-Term Assets | $42.76M | $16.86M | $1.63M | $3.73M | $716K | $25K | $5.12M | $6.77M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $327.65M | $351.15M | $233.19M | $281.44M | $61.45M | $26.41M | $15.65M | $27.55M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $5.72M | $9.87M | $759K | $1.66M | $1.79M | $1.22M | $3.52M | $775K |
| Short-Term Debt | $0 | $0 | $237K | $0 | $3.48M | $2.56M | $12.3M | $3.53M |
| Current Income Tax Payable | $0 | $0 | $4K | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $609K | $557K | $0 | $0 | $1.46M | $3.52M | $0 | $0 |
| Other Current Liabilities | $588K | $2.29M | $1.08M | $1.46M | $660K | $0 | $2.11M | $841K |
| Total Current Liabilities | $39.15M | $23.44M | $2.39M | $5.44M | $8.19M | $8.21M | $17.93M | $5.14M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $96.37M | $0 | $0 | $0 | $4.93M | $7.46M | $0 | $0 |
| Long-Term Unearned Revenue | $1.13M | $1.53M | $0 | $0 | $3M | $3.44M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $76.75M | $69.38M | $0 | $2.85M | $76.12M | $21.35M | $0 | $0 |
| Total Long-Term Liabilities | $174.25M | $70.92M | $37K | $3.1M | $84.53M | $32.25M | $3.32M | $4.21M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $213.39M | $94.36M | $2.43M | $8.55M | $92.72M | $40.46M | $21.25M | $9.35M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $53.17M | $53.17M |
| Common Stock | $10K | $10K | $10K | $9K | $3K | $223K | $0 | $0 |
| Retained Earnings | -$294.6M | -$123.31M | -$131.3M | -$76.94M | -$42.26M | -$22.01M | -$63.79M | -$39.82M |
| Comprehensive Income & Other | $125K | $220K | $49K | $407K | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $408.85M | $380.09M | $362.05M | $349.81M | $10.98M | $7.74M | $58.18M | $58.02M |
| Total Equity | $114.26M | $256.8M | $230.76M | $272.89M | -$31.27M | -$14.05M | -$5.6M | $18.2M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $327.65M | $351.15M | $233.19M | $281.44M | $61.45M | $26.41M | $15.65M | $27.55M |
| Supplementary Data | ||||||||
| Total Debt | $96.37M | $42K | $274K | $481K | $9.03M | $10.02M | $15.62M | $7.73M |
| Net Debt | $55.06M | -$50.77M | -$70.7M | -$210.04M | -$51.03M | -$14.5M | $5.64M | -$12.43M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$171.3M | $8M | -$54.37M | -$34.68M | -$20.24M | -$1.06M | -$23.97M | -$17.58M |
| Depreciation & Amortization | $1.37M | $79K | $73K | $319K | $213K | $6K | $1.55M | $1.42M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $1K | $0 | $0 |
| Stock-Based Compensation | $22.09M | $14.53M | $9.23M | $5.84M | $2.83M | $3.54M | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$17.2M | -$8.18M | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$21.99M | -$5.95M | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $18.88M | $16.43M | -$2.78M | -$10.29M | $0 | $1.79M | $4.01M | $513K |
| Other Working Capital | $306K | -$4.12M | -$4.55M | -$2.47M | -$356K | $4.67M | -$714K | -$946K |
| Total Working Capital Change | -$20M | -$1.81M | -$7.33M | -$12.75M | -$356K | $6.46M | $3.3M | -$433K |
| Other Non-Cash Items | -$3.03M | -$7.25M | -$6.88M | $1.2M | -$4K | $121K | $223K | $2.04M |
| Net Cash from Operating | -$170.87M | $13.55M | -$59.27M | -$40.08M | -$17.56M | $9.07M | -$18.9M | -$16.88M |
| Investing Activities | ||||||||
| Capital Expenditures | -$339K | -$563K | -$175K | -$199K | -$55K | -$917K | -$96K | -$449K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$242.03M | -$356.04M | -$272M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $307M | $258M | $185M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$7.86M | -$7.5M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $56.77M | -$106.1M | -$87.18M | -$199K | -$55K | -$917K | -$96K | -$449K |
| Financing Activities | ||||||||
| Debt Repaid | -$96.26M | -$69.38M | - | $8.68M | $1.82M | -$5M | - | $852K |
| Common Stock Issuance | $5.68M | $3.02M | $6.9M | $570K | $169K | $409.21M | $19K | $20.25M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $2.66M | $0 | $0 | $198.84M | $0 | -$409.11M | $0 | $0 |
| Net Cash from Financing | $104.6M | $72.4M | $6.9M | $190.73M | $53.16M | $5.1M | $8.61M | $19.4M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $917K | $200K | $0 |
| Net Change in Cash | -$9.5M | -$20.15M | -$139.55M | $150.46M | $35.54M | $14.17M | -$10.18M | $2.08M |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$170.87M | $13.55M | -$59.27M | -$40.08M | -$17.56M | $9.07M | -$18.9M | -$16.88M |
| Capital Expenditure | -$339K | -$563K | -$175K | -$199K | -$55K | -$917K | -$96K | -$449K |
| Free Cash Flow | -$171.21M | $12.98M | -$59.44M | -$40.28M | -$17.62M | $8.15M | -$18.99M | -$17.32M |
| Cash at Beginning | $50.82M | $70.97M | $210.52M | $60.06M | $24.52M | $10.35M | $20.16M | $18.09M |
| Cash at End | $41.32M | $50.82M | $70.97M | $210.52M | $60.06M | $24.52M | $9.98M | $20.16M |