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ARS Pharmaceuticals(NASDAQ) SPRY

Current Price$5.94
Market Cap$601.78MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2022)+0%
5 Year-81%
1 Year-66%
1 Month-39%
ARS Pharmaceuticals last closing stock price
MetricPriceDate
Last closeUSD 6.062026-07-22
ARS Pharmaceuticals stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-19.74%USD 7.552026-07-15
1 month-39.28%USD 9.982026-06-22
3 month-26.99%USD 8.302026-04-23
Year to date-47.98%USD 11.652025-12-31
1 year-65.55%USD 17.592025-07-22
3 year-16.18%USD 7.232023-07-21
5 year-81.44%USD 32.652021-07-23
Since inception+0%USD 6.062022-11-09

ARS Pharmaceuticals Financials at a Glance

Market Cap

$601.78MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$98.99M

Net Income (TTM)

-$197.98M

EPS (TTM)

-$2.00

P/E Ratio

-3.03

Dividend

$0.00

Beta (Volatility)

1.14 (Average)

Price

$5.94

Volume

1,436,238.674

Open

$6.10

Previous Close

$6.06

Daily Range

$5.77 - $6.10

52-Week Range

$5.77 - $18.63

Estimated Earnings Date

Aug 12, 2026

SPRY News

Foolcom-Featured.png

ARS Pharma Sales Jump 3,040% in Q2

Motley Fool Markets TeamAug 13, 2025
Young patient with doctor at appointment

Why Shares of ARS Pharmaceuticals Are Plummeting on Wednesday

James HalleySep 20, 2023

SPRY: Motley Fool Moneyball Superscore

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About ARS Pharmaceuticals

ARS helps people treat severe allergic reactions without needles. It makes a nasal spray that delivers life-saving medicine. This device replaces traditional injections for at-risk patients.

Portable Rescue Medicines

  • neffy 2 mg: Nasal spray for adults and children over 30 kg; used for emergency allergic reactions including anaphylaxis, a severe life-threatening reaction.
  • neffy 1 mg: Lower-dose nasal spray for children weighing between 15 kg and 30 kg.
  • Chronic Urticaria Pipeline: Research stage treatment for long-term hives, a skin condition that does not always respond to standard medicine.

Global Growth and Partnerships

  • Launched neffy in the United States in September 2024 following approval from the U.S. Food and Drug Administration.
  • Partnered with ALK-Abello to sell the nasal spray in Europe and Canada.
  • Established distribution agreements with Alfresa in Japan in 2020 and Pediatrix in China in 2021.
  • Expanded the internal sales team to 106 individuals to target high-volume medical prescribers.

Why the Technology Stands Out

The company uses Intravail technology, an absorption tool, to help the nose take in medicine quickly. Its product remains stable at higher temperatures for longer periods than traditional injectable pens.

Tracking the Financial Trajectory

  • Revenue was $28.1 million in Q4 2025, down 67.6% from Q4 2024.
  • Net income hit -$41.3 million in Q4 2025, which worsened from $49.9 million in Q4 2024.
  • Operating cash flow reached -$43.5 million in Q4 2025, deepening from a positive $42 million in Q4 2024.
  • Market capitalization reached $1.1 billion in Q4 2025, up 11.1% from the previous year.

Bottom Line

ARS has transitioned from a research firm into a commercial company providing needle-free solutions for severe allergies. Its global partnerships and unique delivery technology aim to modernize how patients manage life-threatening reactions.

AI Generated • May 3, 2026

Industry

Biotechnology

Sector

Health Care

Employees

163

CEO

Richard E. Lowenthal, MBA

Website

www.ars-pharma.com

Headquarters

San Diego, CA 92130, US

SPRY Financials

Key Financial Metrics (TTM)

Gross Margin

77.10%

Operating Margin

-204.49%

Net Income Margin

-200.00%

Return on Equity

-153.61%

Return on Capital

-85.20%

Return on Assets

-68.84%

Earnings Yield

-33.00%

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

$601.78MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

99.30M

Volume

1.44M

Avg. Volume

1.92M

Financials (TTM)

Gross Profit

$76.32M

Operating Income

-$202.42M

EBITDA

-$192.17M

Operating Cash Flow

-$175.07M

Capital Expenditure

-$248.00K

Free Cash Flow

-$175.32M

Cash & ST Invst.

$200.97M

Total Debt

$96.52M

ARS Pharmaceuticals Performance Analysis

ARS Pharmaceuticals annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 1,316,000-76.1%
20232023-12-31USD 30,000-97.7%
20242024-12-31USD 89,149,000297063.3%
20252025-12-31USD 84,278,000-5.5%
ARS Pharmaceuticals sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-3097.1%
Q32025-09-30106.8%
Q42025-12-31-13.6%
Q12026-03-31-19.2%
ARS Pharmaceuticals annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD -0.8723.8%
20232023-12-31USD -0.57-34.2%
20242024-12-31USD 0.08N/A
20252025-12-31USD -1.74N/A
ARS Pharmaceuticals sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-30-31.4%
Q32025-09-30-13.0%
Q42025-12-3119.2%
Q12026-03-31-45.2%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q1 2026YOY CHG

Revenue

$22.68M

+184.5%

Gross Profit

$16.40M

+317.5%

Gross Margin

72.29%

N/A

Market Cap

$601.78MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$3.69M

N/A

Employees

163

N/A

Net Income

-$60.62M

-78.6%

EBITDA

-$57.78M

-71.7%

Quarterly Fundamentals

Name
Q1 2026YOY CHG

Total Cash

$200.97M

-27.1%

Total Debt

$96.52M

+132121.9%

Accounts Receivable

$29.46M

+186.8%

Inventory

$8.82M

+21.3%

Long Term Debt

$96.52M

N/A

Short Term Debt

$0.00

-100.0%

Return on Assets

-68.84%

N/A

Return on Invested Capital

-85.06%

N/A

Free Cash Flow

-$44.95M

-10.1%

Operating Cash Flow

-$44.95M

-10.3%

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Questions About SPRY

What is the current price of ARS Pharmaceuticals?

ARS Pharmaceuticals is trading at $5.90 per share.

What is the 52-week range for ARS Pharmaceuticals?

Over the past 52 weeks, ARS Pharmaceuticals has traded between $5.77 and $18.63.

How much debt does ARS Pharmaceuticals have?

As of the most recent reporting period, ARS Pharmaceuticals reported total debt of $96.52M.

How much cash does ARS Pharmaceuticals have on hand?

ARS Pharmaceuticals reported $24.32M in cash and cash equivalents in its most recent financial results.

What is ARS Pharmaceuticals’s dividend yield?

ARS Pharmaceuticals does not currently have a dividend yield.

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