Stocks Health care SPRY
NASDAQ · Health careARS Pharmaceuticals, Inc. (SPRY)
ARS Pharmaceuticals, Inc. brought in $122.1M of revenue over the twelve months to September 30, 2026, down 14.5% from a year earlier. It posted a net loss of $199.9M. In fiscal 2025 capital spending exceeded operating cash flow by $171.2M. At September 30, 2026 it held $25.6M in cash against $121.8M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 5, 2026.
Key facts about ARS Pharmaceuticals, Inc.
- Net worth
- ARS Pharmaceuticals, Inc. has a market value (market cap) of $355M at the latest share price, and shareholders' equity of -$12M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $84.3M (-5.5% year on year), with a net loss of $171.3M. Over the 12 months to September 30, 2026: revenue $122.1M, net loss $199.9M.
- Cash flow
- In fiscal 2025 operations used $170.9M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 5, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- ARS Pharmaceuticals, Inc.'s next report is expected around March 8, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What ARS Pharmaceuticals, Inc. does
ARS Pharmaceuticals, Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker SPRY.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $84.3M | -$171.3M | -$1.74 | -$171.2M |
| 2024 | $89.1M | $8M | $0.08 | $13M |
| 2023 | $30K | -$54.4M | -$0.57 | -$59.4M |
| 2022 | $1.3M | -$34.7M | -$0.87 | -$40.3M |
| 2021 | $5.5M | -$20.2M | -$0.70 | -$17.6M |
| 2021 | n/a | -$32.9M | -$3.10 | -$32.1M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where SPRY ranks in Health care
Latest SEC filings
What ARS Pharmaceuticals, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 16% to $37.7M versus the same quarter last year; diluted EPS -$0.36 versus -$0.52.
- November 5, 2026
- August 13, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 114% to $33.7M versus the same quarter last year; diluted EPS -$0.63 versus -$0.46.
- August 13, 2026
- July 27, 2026Passive stake (5% or more) SCHEDULE 13G
- July 17, 2026
- July 14, 2026Passive stake changed SCHEDULE 13G/A
- July 7, 2026
- June 25, 2026
- May 15, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running ARS Pharmaceuticals, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| June 12, 2026 | Fitzpatrick Alexander AChief Legal Officer | Soldpre-planned (10b5-1) | 3,355 | $33.6K |
| June 12, 2026 | Karas EricChief Commercial Officer | Exercised options | 25,000 | $37.5K |
| June 12, 2026 | Karas EricChief Commercial Officer | Soldpre-planned (10b5-1) | 25,000 | $250K |
| November 13, 2025 | Dorsey BrianChief Operating Officer | Exercised options | 21,828 | $14K |
| November 13, 2025 | Dorsey BrianChief Operating Officer | Sold | 21,828 | $190K |
| November 12, 2025 | Shah PratikDirector | Gave as a giftindirect | 250,000 | - |
| November 12, 2025 | Shah PratikDirector | Gave as a giftindirect | 100,000 | - |
| November 12, 2025 | Chakma JustinChief Business Officer | Exercised options | 30,000 | $25.2K |
Who owns SPRY
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| RA Capital Management, L.P.13D, may seek influence with 3 related filers | 11.1% | October 1, 2025 |
| Rubric Capital Management LP13G, passive with 1 related filers | 8.06% | May 15, 2026 |
| Deerfield Management Company, L.P.13D, may seek influence with 5 related filers | 7.75% | August 1, 2025 |
| The Pratik Shah Living Trust dated June 15, 2011(1)13D, may seek influence | 5.4% | June 17, 2024 |
Largest institutional holders
Insiders
4 insiders reported holding 4,588,429 shares in total, about $16.4M at the last price.
| Holder | Shares |
|---|---|
| Shah PratikDirector | 4,474,5544,474,554 held indirectly |
| Fitzpatrick Alexander AChief Legal Officer | 90,910 |
| Karas EricChief Commercial Officer | 12,176 |
| Dorsey BrianChief Operating Officer | 10,789 |
Questions about SPRY
What does ARS Pharmaceuticals, Inc. do?
ARS Pharmaceuticals, Inc. is a company in the Health care sector, listed on NASDAQ as SPRY. Its shares trade on NASDAQ under the ticker SPRY.
What is ARS Pharmaceuticals, Inc.'s net worth?
ARS Pharmaceuticals, Inc. has a market value (market cap) of $355M at the latest share price, and shareholders' equity of -$12M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is ARS Pharmaceuticals, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $199.9M on revenue of $122.1M.
How much revenue does ARS Pharmaceuticals, Inc. make?
Over the twelve months to September 30, 2026 ARS Pharmaceuticals, Inc. reported revenue of $122.1M. That is 14.5% less than a year earlier.
When did ARS Pharmaceuticals, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 5, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the planned insider sale from November 9, 2026.
When is ARS Pharmaceuticals, Inc.'s next earnings report?
ARS Pharmaceuticals, Inc.'s next report is expected around March 8, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values ARS Pharmaceuticals, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.