ARS Pharms Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
ARS Pharms has an operating margin of -3.5%, meaning the company retains $-3 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -225066.7% the prior year.
ARS Pharms's revenue surged 297063.3% year-over-year to $89.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
ARS Pharms carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 14.26, ARS Pharms holds $14.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
ARS Pharms converts 14.6% of revenue into free cash flow ($13.0M). This strong cash generation earns a score of 73/100.
ARS Pharms generates a 3.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100.
ARS Pharms passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, ARS Pharms generates $1.69 in operating cash flow ($13.5M OCF vs $8.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows ARS Pharms (SPRY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
ARS Pharms generated $89.1M in revenue in fiscal year 2024. This represents an increase of 297063.3% from the prior year.
ARS Pharms's EBITDA was -$3.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 95.6% from the prior year.
ARS Pharms generated $13.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 121.8% from the prior year.
ARS Pharms reported $8.0M in net income in fiscal year 2024. This represents an increase of 114.7% from the prior year.
ARS Pharms earned $0.08 per diluted share (EPS) in fiscal year 2024. This represents an increase of 114.0% from the prior year.
ARS Pharms held $50.8M in cash against $0 in long-term debt as of fiscal year 2024.
ARS Pharms had 98M shares outstanding in fiscal year 2024. This represents an increase of 1.6% from the prior year.
ARS Pharms's operating margin was -3.5% in fiscal year 2024, reflecting core business profitability. This is up 225063.2 percentage points from the prior year.
ARS Pharms's net profit margin was 9.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 181225.6 percentage points from the prior year.
ARS Pharms's ROE was 3.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
ARS Pharms invested $19.6M in research and development in fiscal year 2024. This represents a decrease of 3.4% from the prior year.
ARS Pharms invested $563K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 221.7% from the prior year.
SPRY Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.5M+106.8% | $15.7M+97.1% | $8.0M-90.8% | $86.6M+17216.2% | $500K | $0 | $0 | $0 |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $2.8M-31.8% | $4.0M+36.7% | $3.0M-2.5% | $3.0M-56.1% | $6.9M+31.8% | $5.2M+53.8% | $3.4M+13.4% | $3.0M |
| SG&A Expenses | $74.8M+37.6% | $54.3M+32.1% | $41.1M+15.8% | $35.5M+296.8% | $8.9M+12.4% | $8.0M-75.0% | $31.8M+112.3% | $15.0M |
| Operating Income | -$53.2M-11.7% | -$47.6M-28.1% | -$37.2M-178.8% | $47.2M+407.7% | -$15.3M-16.3% | -$13.2M-29.0% | -$10.2M+43.1% | -$18.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$51.2M-14.0% | -$44.9M-32.2% | -$33.9M-168.0% | $49.9M+499.0% | -$12.5M-21.6% | -$10.3M-43.6% | -$7.2M+51.8% | -$14.9M |
| EPS (Diluted) | $-0.52-13.0% | $-0.46-31.4% | $-0.35-167.3% | $0.52+500.0% | $-0.13-18.2% | $-0.11-57.1% | $-0.07+56.3% | $-0.16 |
SPRY Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $372.8M+18.9% | $313.5M-4.2% | $327.3M-6.8% | $351.2M+58.2% | $222.0M-2.5% | $227.6M-2.4% | $233.2M-6.2% | $248.6M |
| Current Assets | $338.9M+20.4% | $281.4M-7.4% | $303.9M-9.1% | $334.3M+51.4% | $220.7M-2.4% | $226.2M-2.4% | $231.7M-5.2% | $244.5M |
| Cash & Equivalents | $59.6M+15.6% | $51.5M+29.3% | $39.9M-21.6% | $50.8M+38.7% | $36.6M-34.6% | $56.0M-21.1% | $71.0M+17.2% | $60.5M |
| Inventory | $21.4M-3.1% | $22.1M+204.2% | $7.3M-30.9% | $10.5M | N/A | N/A | $0 | $0 |
| Accounts Receivable | $36.5M+45.1% | $25.1M+170.1% | $9.3M+13.8% | $8.2M | N/A | N/A | $0 | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $225.1M+85.8% | $121.2M+23.2% | $98.3M+4.2% | $94.4M+1303.0% | $6.7M+81.0% | $3.7M+53.0% | $2.4M-78.5% | $11.3M |
| Current Liabilities | $50.9M+11.6% | $45.6M+65.1% | $27.6M+17.8% | $23.4M+248.6% | $6.7M+81.0% | $3.7M+55.4% | $2.4M-78.6% | $11.2M |
| Long-Term Debt | $96.2M | N/A | N/A | $0 | N/A | N/A | N/A | N/A |
| Total Equity | $147.7M-23.2% | $192.3M-16.0% | $229.0M-10.8% | $256.8M+19.3% | $215.2M-3.9% | $223.9M-3.0% | $230.8M-2.7% | $237.3M |
| Retained Earnings | -$253.3M-25.3% | -$202.1M-28.5% | -$157.2M-27.5% | -$123.3M+20.0% | -$154.1M-8.8% | -$141.6M-7.8% | -$131.3M-5.8% | -$124.1M |
SPRY Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$47.0M-18.8% | -$39.6M+2.8% | -$40.7M-197.0% | $42.0M+677.1% | -$7.3M-8.5% | -$6.7M+61.4% | -$17.4M-36.4% | -$12.8M |
| Capital Expenditures | $197K+286.3% | $51K-44.0% | $91K-69.9% | $302K+694.7% | $38K-54.2% | $83K+191.2% | -$91K-311.6% | $43K |
| Free Cash Flow | -$47.2M-19.2% | -$39.6M+2.9% | -$40.8M-197.9% | $41.7M+669.9% | -$7.3M-7.7% | -$6.8M+61.2% | -$17.5M-36.6% | -$12.8M |
| Investing Cash Flow | -$45.0M-192.6% | $48.6M+67.1% | $29.1M+128.6% | -$101.8M-704.7% | -$12.6M-48.5% | -$8.5M-132.7% | $26.0M+155.8% | -$46.6M |
| Financing Cash Flow | $100.0M+3609.5% | $2.7M+272.0% | $725K-99.0% | $70.9M+12912.1% | $545K+111.2% | $258K-85.7% | $1.8M+96.0% | $921K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SPRY Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -163.7%+139.3pp | -302.9%+163.3pp | -466.3%-520.8pp | 54.5%+3122.5pp | -3068.0% | N/A | N/A | N/A |
| Net Margin | -157.4%+128.2pp | -285.6%+140.1pp | -425.7%-483.4pp | 57.7%+2560.9pp | -2503.2% | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | 19.4% | N/A | N/A | N/A | N/A |
| Return on Assets | -13.7%+0.6pp | -14.3%-3.9pp | -10.4%-24.6pp | 14.2%+19.9pp | -5.6%-1.1pp | -4.5%-1.4pp | -3.1%+2.9pp | -6.0% |
| Current Ratio | 6.66+0.5 | 6.17-4.8 | 11.00-3.3 | 14.26-18.6 | 32.82-28.1 | 60.90-36.0 | 96.92+75.0 | 21.87 |
| Debt-to-Equity | 0.65+0.0 | 0.63+0.2 | 0.43+0.4 | 0.00-0.0 | 0.03+0.0 | 0.020.0 | 0.01-0.0 | 0.05 |
| FCF Margin | -145.4%+106.9pp | -252.2%+259.9pp | -512.1%-560.3pp | 48.2%+1511.6pp | -1463.4% | N/A | N/A | N/A |
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Frequently Asked Questions
What is ARS Pharms's annual revenue?
ARS Pharms (SPRY) reported $89.1M in total revenue for fiscal year 2024. This represents a 297063.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is ARS Pharms's revenue growing?
ARS Pharms (SPRY) revenue grew by 297063.3% year-over-year, from $30K to $89.1M in fiscal year 2024.
Is ARS Pharms profitable?
Yes, ARS Pharms (SPRY) reported a net income of $8.0M in fiscal year 2024, with a net profit margin of 9.0%.
What is ARS Pharms's earnings per share (EPS)?
ARS Pharms (SPRY) reported diluted earnings per share of $0.08 for fiscal year 2024. This represents a 114.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is ARS Pharms's EBITDA?
ARS Pharms (SPRY) had EBITDA of -$3.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does ARS Pharms have?
As of fiscal year 2024, ARS Pharms (SPRY) had $50.8M in cash and equivalents against $0 in long-term debt.
What is ARS Pharms's operating margin?
ARS Pharms (SPRY) had an operating margin of -3.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is ARS Pharms's net profit margin?
ARS Pharms (SPRY) had a net profit margin of 9.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is ARS Pharms's return on equity (ROE)?
ARS Pharms (SPRY) has a return on equity of 3.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is ARS Pharms's free cash flow?
ARS Pharms (SPRY) generated $13.0M in free cash flow during fiscal year 2024. This represents a 121.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is ARS Pharms's operating cash flow?
ARS Pharms (SPRY) generated $13.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are ARS Pharms's total assets?
ARS Pharms (SPRY) had $351.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What are ARS Pharms's capital expenditures?
ARS Pharms (SPRY) invested $563K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does ARS Pharms spend on research and development?
ARS Pharms (SPRY) invested $19.6M in research and development during fiscal year 2024.
How many shares does ARS Pharms have outstanding?
ARS Pharms (SPRY) had 98M shares outstanding as of fiscal year 2024.
What is ARS Pharms's current ratio?
ARS Pharms (SPRY) had a current ratio of 14.26 as of fiscal year 2024, which is generally considered healthy.
What is ARS Pharms's debt-to-equity ratio?
ARS Pharms (SPRY) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is ARS Pharms's return on assets (ROA)?
ARS Pharms (SPRY) had a return on assets of 2.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is ARS Pharms's Piotroski F-Score?
ARS Pharms (SPRY) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are ARS Pharms's earnings high quality?
ARS Pharms (SPRY) has an earnings quality ratio of 1.69x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is ARS Pharms?
ARS Pharms (SPRY) scores 64 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.