ARS Pharmaceuticals, Inc. SPRY

4.08 (0.07) (1.69%) as of 25 Sep
Market cap
$412.7M
P/E
0.0×

Insider Decisions

Total sells 1.95
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — 2 — — — — — — 2 — — —
Insider Ownership 34.30%

Capital & Financial Ratios

Market Cap 412.71
Revenue 116.93
Net Income (215.43)
Free Cash Flow (196.40)
Net Debt 27.76
Current Ratio 3.48
Debt/Equity 13.72
P/E ratio 0.00
P/S ratio 3.47
P/B ratio 32.38
Past 5Y EPS Growth (1.44%)
This Y EPS Growth (2.16%)
Next Y EPS Growth 54.15%
Next 5Y EPS Growth 88.35%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 228 314 245 144
Receivables — 8 25 47
Inventory — 5 8 12
Other — — — —
232 334 285 212
2023 2024 2025 Q'26
Payables 2 23 38 60
ST’ Debt — — — —
Other — 1 1 1
2 23 39 61
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — — 300.09%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (21.48%) (25.19%)

Revenue

Mar Jun Sep Dec Year
’26 23 34 — — —
’25 8 16 33 28 84
’24 — 1 2 87 89
’23 0 0 — — 0
’22 1 0 0 0 1
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (45) (61) — — —
’25 (41) (40) (47) (43) (171)
’24 (7) (7) (14) 42 14
’23 (12) (17) (13) (17) (59)
’22 (7) (7) (6) (20) (40)
’21 (12) (14) (19) 28 (18)
’20 (8) (5) (7) (11) (31)
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (45) (61) — — —
’25 (41) (40) (53) (45) (179)
’24 (7) (7) (17) 37 5
’23 (13) (17) (13) (17) (59)
’22 (7) (7) (6) (21) (40)
’21 (12) (15) (19) 29 (18)
’20 (8) (5) (8) (11) (32)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (0.61) (0.63) — — —
’25 (0.35) (0.46) (0.52) (0.42) (1.74)
’24 (0.11) (0.13) (0.20) 0.52 0.08
’23 (0.16) (0.18) (0.16) (0.07) (0.57)
’22 (0.24) (0.21) (0.21) (0.21) (0.87)
’21 (0.54) (0.70) (0.65) 1.19 (0.70)
’20 (7.89) (9.65) (11.97) (1.37) (11.33)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— — — — 24.22 5.87 2.80 2.55 5.19 6.66

Analyst estimates 2026–2028

Powerpack
Low Price
— — — — 49.86 63.41 9.17 9.65 18.51 18.90
High Price
— — — — 54 90 20 26 160 163
Employees
— — — — 0 0 0 0 1 1
Revenue/Emp
— — — — — 6 1 0 89 84
Revenue
— — 0.00% 0.00% 0.00% 100.00% 100.00% 100.00% 98.90% 75.77%
Gross Margin
— — (18) (24) (33) (20) (35) (54) 8 (171)
EBT
— — 0.00% 0.00% 0.00% (367.65%) (2,635.41%) (181,216.67%) 9.29% (203.35%)
EBT Margin
— 0 (18) (24) (33) (20) (35) (54) 8 (171)
Net Income
— — 1 1 1 0 0 (7) (7) (4)
Depreciation
— — 0.00 0.00 0.00 0.19 0.03 0.00 0.92 0.86
Revenue/Sh
— — (0.53) (36.26) (11.33) (0.70) (0.87) (0.57) 0.08 (1.74)
Earnings/Sh
— — (0.51) (28.59) (10.73) (0.61) (1.00) (0.62) 0.14 (1.73)
Cash Flow/Sh
— — 0.00 (0.15) (0.32) 0.00 0.00 0.00 (0.08) (0.08)
Capex/Sh
— — (0.51) (28.74) (11.04) (0.61) (1.01) (0.62) 0.06 (1.82)
Free CF/Sh
— — 0.55 (8.48) 131.69 1.55 6.83 2.42 2.65 1.16
Book Value/Sh
— — 33 1 3 29 40 95 97 99
Shares
— — — — — 0.00 0.00 0.00 131.88 0.00
PE Ratio
— — — — — 0.00 223.54 1,302.21 11.47 13.63
PS Ratio
— — — — — 0.00 1.23 2.30 3.98 10.05
PB Ratio
— — — — — 0.00 44.07 743.30 8.73 12.72
EV/Sales
— — — — — (7.85) (1.65) (5.10) 59.94 (5.75)
EV/FCF
— — (17) (19) (31) (18) (40) (59) 14 (171)
Op' Cash Flow
— — 0 0 (1) 0 0 0 (8) (8)
Capex
— — (17) (19) (32) (18) (40) (59) 5 (179)
FCF
— — 16 (7) 381 53 272 229 311 246
Working Cap'
— — 8 5 3 9 0 — 69 169
Total Debt
— — (12) (5) (383) (52) (274) (228) (245) (76)
Net Debt
— — 18 (6) 383 45 273 231 257 114
Sh' Equity
— — (127.63%) (110.97%) (16.05%) (8.87%) (20.23%) (21.13%) 2.80% (50.50%)
ROA
— — 0.00% 0.00% 0.00% 0.00% 0.00% (1,758.33%) (15.85%) (296.82%)
ROIC
— — 37.50% 51.13% (20.33%) (11.51%) (28.71%) (21.59%) 3.35% (92.38%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

ARS Pharmaceuticals, Inc. (SPRY) key facts

  • ARS Pharmaceuticals, Inc. (SPRY) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
  • ARS Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $84.3 million, down 5.46% from fiscal 2024.
  • ARS Pharmaceuticals, Inc. reported a net loss of $171.3 million, or a loss of $1.74 per share, for fiscal 2025.
  • As of September 25, 2026, SPRY traded at $4.08, a market capitalization of $412.7 million.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 3.5× sales.
  • Return on equity was −92.4% and debt-to-equity 13.72.

Source: company filings (standardised) and stockrow calculations.

ARS Pharmaceuticals, Inc. (SPRY) Latest News

News by impact score

Fine-tune

21 Aug

3

ARS Pharmaceuticals reduces spending to pursue greater Neffy market share. Spending cuts to chase Neffy market share may moderately affect financial performance and competitive positioning.

14 Aug

4

ARS Pharmaceuticals Inc (SPRY) doubled its market share to 5% during the Q2 2026 earnings call. Market share doubling to 5% reflects major competitive gains expected to drive revenue growth and shift investor outlook.

3

ARS Pharmaceuticals, Inc. issued a summary of its Q2 2026 earnings call. Q2 earnings updates deliver financial results that can moderately shift near-term valuation and sentiment.

13 Aug

3 transcript

ARS Pharmaceuticals Q2 earnings call highlights financial performance and business updates. Quarterly earnings insights can moderately influence stock performance and market sentiment.

3

ARS Pharmaceuticals outlined strategic priorities including a focused commercial strategy and reported second quarter 2026 financial results. Outlining commercial strategy priorities alongside quarterly results points to moderate effects on operations and positioning.

15 Jul

3

ARS Pharmaceuticals (SPRY) appoints Donn Casale as new CEO. CEO appointment at ARS Pharmaceuticals may moderately influence strategy and market perception.

7 Jul

3

ARS Pharmaceuticals, Inc. announced a CEO succession. CEO succession may affect strategic direction and investor sentiment at ARS Pharmaceuticals.

25 Jun

4

CVS delays decision on ARS Pharmaceuticals epinephrine spray to January, triggering stock collapse. Delay directly threatens ARS Pharma product launch timeline and near-term revenue.

24 Jun

4

ARS Pharmaceuticals stock fell over 23% after hours after the company reported no new major insurance wins for Neffy. Absence of new insurance coverage for Neffy creates immediate reimbursement barriers that will constrain near-term sales and pressure valuation.

3

ARS Pharmaceuticals announced commercial and financial updates, detailing progress on product commercialization, revenue outlook, and cash position. Commercial and financial updates can moderately shift near-term investor sentiment and operational expectations.

9 Jun

4

ARS Pharmaceuticals (SPRY) evolving developments could materially influence its future valuation and market performance. Company developments carry potential to substantially shift ARS Pharmaceuticals trajectory and investor sentiment.

16 May

3 transcript

ARS Pharmaceuticals, Inc. (SPRY) held its Q1 2026 earnings call and outlined financial results along with operational updates and forward guidance. Quarterly earnings details supply moderate financial updates that can shift near-term investor views without guaranteeing major strategic shifts.

15 May

4

ARS Pharmaceuticals Inc posted strong Q1 2026 revenue growth driven by increased product sales and market expansion. The earnings call highlighted operational efficiencies and pipeline progress supporting future commercialization efforts. Strong revenue growth directly signals improved financial performance that can materially lift valuation and investor sentiment for SPRY.

4

ARS Pharmaceuticals (SPRY) Q1 earnings call highlights financial results, pipeline advancements for neffy nasal epinephrine spray, commercialization progress, cash runway extension to 2027, and raised full-year guidance. Q1 results show revenue growth, reduced losses, product launch momentum, and extended cash runway, signaling strong trajectory shift.

4

ARS Pharmaceuticals (SPRY) reported first quarter 2026 financial results and provided a corporate update. Quarterly financial results and corporate updates directly affect financial performance, pipeline progress, and investor sentiment in biotech companies.

3

ARS Pharmaceuticals, Inc. (SPRY) reported a Q1 loss but beat revenue estimates. Beating revenue estimates despite a Q1 loss moderately influences financial performance and investor sentiment.

13 May

3

ARS Pharmaceuticals, Inc. (SPRY) appoints industry veteran Donn Casale as President to strengthen its leadership team. Appointment of experienced President bolsters leadership and operational strategy with moderate impact on performance.

6 May

3

ARS Pharmaceuticals, Inc. (SPRY) Q1 earnings are expected to decline, according to analysts ahead of the report release. Expected Q1 earnings decline may noticeably impact financial performance and investor sentiment without fundamentally altering long-term trajectory.

2 May

4

Fresh analyst models and regulatory approvals are shifting the narrative for ARS Pharmaceuticals, Inc. (SPRY), signaling potential positive momentum in its market positioning and future prospects. Regulatory approvals and updated analyst models represent major strategic advancements likely to significantly enhance SPRY's competitive position and investor sentiment.

17 Apr

4

Northland Securities highlights ARS Pharmaceuticals (SPRY)'s needle-free therapy as a major innovation driver for the company's future growth and market potential. Analyst endorsement of SPRY's needle-free therapy underscores significant innovation potential to enhance competitive positioning and investor sentiment.

15 Apr

4

ARS Pharmaceuticals' neffy® (epinephrine nasal spray) received approval in Canada as the first and only needle-free emergency treatment for allergic reactions, including anaphylaxis. Canadian approval of neffy expands ARS Pharmaceuticals' market access and strengthens its competitive edge in needle-free anaphylaxis treatments.

27 Mar

4

ARS Pharmaceuticals (SPRY) received FDA approval to remove the age requirement from the label of neffy® 1 mg epinephrine nasal spray, expanding its approved use to patients of all ages. FDA label expansion to all ages significantly broadens neffy 1 mg's addressable market and enhances SPRY's commercial prospects.

9 Mar

4

ARS Pharmaceuticals (SPRY) Q4 earnings call highlights financial results, pipeline progress on neffy for anaphylaxis, partnership updates, and 2024 guidance projecting revenue growth and cash runway into 2026. Q4 earnings highlights detail strong cash position, positive clinical data, and revenue projections significantly boosting investor confidence and stock trajectory.

4

ARS Pharmaceuticals Inc (SPRY) reported strong market entry, key achievements, and positive highlights in its Q4 2025 earnings call. Strong market entry detailed in Q4 2025 earnings call represents a major strategic advancement likely to significantly enhance SPRY's competitive position and investor sentiment.

4

ARS Pharmaceuticals reported fourth quarter and full-year 2025 financial results alongside updates on neffy epinephrine nasal spray commercialization. Q4 and full-year financial results with neffy commercialization updates signal major progress in financial health and key product market adoption.

3

ARS Pharmaceuticals, Inc. (SPRY) reported a Q4 net loss but beat revenue estimates. Revenue beat despite Q4 loss moderately boosts financial sentiment without altering long-term trajectory.

2 Mar

4

Analysts expect ARS Pharmaceuticals (SPRY) to beat earnings estimates, raising prospects for stock price gains. Expected earnings beat signals strong financial performance that could significantly lift stock trajectory and investor sentiment.

18 Feb

4

Recent regulatory twists are reframing the narrative for ARS Pharmaceuticals (SPRY), highlighting shifts in its development pathway and market positioning. Regulatory twists directly influence ARS Pharmaceuticals' product approvals, pipeline progress, and long-term market trajectory.

10 Feb

4

ARS Pharmaceuticals, Inc. will present scientific innovations and clinical data regarding neffy® (epinephrine nasal spray) at the 2026 AAAAI Annual Scientific Meeting, highlighting its potential impact on allergy and asthma treatment. The presentation of robust clinical data and scientific innovation could significantly influence market perception and the company's strategic positioning in the allergy treatment sector.

3 Feb

4

ARS Pharmaceuticals, Inc. is expanding the pediatric use of its product EURneffy across Europe, which is expected to enhance its market presence and address a critical need in emergency care for children. This strategic move aims to improve accessibility and treatment options for pediatric patients at risk of severe allergic reactions, potentially increasing the company's revenue and market share in the region. The expansion of EURneffy for pediatric use is a significant strategic move that could enhance market positioning and investor sentiment.

stockrow.com/SPRY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com