ARS Pharmaceuticals, Inc.
SPRY Healthcare Biotechnology
ARS Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $84.3 million, down 5.46% from fiscal 2024. In the quarter to June 2026, revenue grew 114.2%, EPS fell 37.0%, free cash flow fell 53.7% and total debt rose 138.5%, each against the same quarter a year earlier.
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ARS Pharmaceuticals, Inc. (SPRY) EV/Sales
As of 16 October 2026, ARS Pharmaceuticals, Inc. (SPRY) trades at a EV/Sales of 3.6×. Over the past ten years it has ranged from −11.5× (January 2023) to 1,827× (March 2024); the current reading is higher than 36% of that period. That is below the Biotechnology industry median of 9.2× and above the Healthcare sector median of 3.4×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 12.7× | 45.71% |
| FY2024 | 8.7× | (98.83%) |
| FY2023 | 744× | 1,580.91% |
| FY2022 | 44.3× | — |
| FY2021 | 0.0× | — |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 7.0× | (9.21%) |
| Mar 2026 | 7.8× | (39.02%) |
| Dec 2025 | 12.7× | 107.95% |
| Sep 2025 | 6.1× | (55.62%) |
| 11 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| PRTCY PureTech Health PLC Sponsored ADR compare | −9.1× |
| TECX Tectonic Therapeutic, Inc. compare | n/m |
| RZLT Rezolute, Inc. compare | n/m |
| DMAC DiaMedica Therapeutics, Inc. compare | n/m |
| ZURA Zura Bio Limited compare | n/m |
| ASMB Assembly Biosciences, Inc. compare | 0.8× |
| PRTA Prothena Corporation plc compare | 2.7× |
| SPRY ARS Pharmaceuticals, Inc. | 3.6× |
| CAPR Capricor Therapeutics, Inc. compare | 7.4× |
| Biotechnology industry median | 9.2× |
| Healthcare sector median | 3.4× |
| Market median | 2.1× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)