ARS Pharmaceuticals, Inc. (SPRY)

From the record

ARS Pharmaceuticals, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

ARS Pharmaceuticals, Inc.'s 5 filed years say what it did: revenue went from $6 million in fiscal 2021 to $84 million in fiscal 2025, up 97.8% a year; it rose in 1 of 4 years; the deepest fall was 99% from fiscal 2021 to fiscal 2023; net income was positive in 1 of 5 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, ARS Pharmaceuticals, Inc. lost about 150 cents for every dollar of shareholders' money. Leverage: it owed about 65 cents per dollar of assets, and net share issuance: its share count shrank 3.7% over the year (the filed statements).

From the record

ARS Pharmaceuticals, Inc.'s standing among 315 graded names in its industry family: revenue of $84 million in fiscal 2025 ranks in the top 36% by size; a net margin of -203.3% ranks in the bottom 46%; revenue growth of 300% a year over the last 3 filed years ranks in the top 5% (its annual reports).

From the record

ARS Pharmaceuticals, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Casale, Donn (President and CEO, as filed), filing under that title since 2026-10-05, 1 month (bottom 1% of its family); most of the 20 officers and directors filing now have filed since the record of its people begins (2022-11-08), a floor of 4 years the record cannot see past, so that part is not read; 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 20 people in charge now (top 12%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

ARS Pharmaceuticals, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $41 million against debt of $96 million leaves -16.8% of its assets as net cash, bottom 8% of its family; cash from operations less capital spending is -203.1% of revenue (bottom 44%); research spending of 15.6% of revenue (bottom 20%) (its annual report).

From the record

ARS Pharmaceuticals, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 300% a year over the last three filed years against 97.8% over all 5, speeding up (top 2% of its family); the newest year grew -5.5% (bottom 32%); research spending grew -10.5% a year (bottom 30%); capital spending grew 19.4% a year (top 25%) (its annual reports). ARS Pharmaceuticals, Inc. reported 3 product lines in fiscal 2025: Product at $72 million (86%), Revenue Under Collaboration Agreements at $10 million (12%), Revenue Under Supply Agreements at $2 million (3%); 2 of 3 grew against the year before (its annual report).

From the record

ARS Pharmaceuticals, Inc.'s newest year against its own record: revenue of $84 million in fiscal 2025 came in 88.5% below the $733 million its prior three years' pace pointed to (bottom 7% of its family); net income of $171 million against a prior three-year average of $27 million (bottom 3%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 1%) (its annual reports).