FY2025 · ended Dec 31, 2025 · Revenue $84.28M, -5.5% YoY · Filed Mar 9, 2026
ARS Pharmaceuticals, Inc. (SPRY) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $84.3 million and a net loss of $171.3 million. Free cash flow was -$171.2 million. As of Jun 30, 2026 it held $143.8 million in cash and investments and $96.7 million in total debt.
Revenue (TTM)
$116.93M
+4.1% vs year-ago TTM
Net income (TTM)
$-215.43M
-348.7% vs year-ago TTM
Operating cash flow (TTM)
$-196.41M
-272.0% vs year-ago TTM
Free cash flow (TTM)
$-196.60M
-268.3% vs year-ago TTM
EPS (TTM)
$-2.17
-367.1% vs year-ago TTM
Dividend per share
None
Shares outstanding
99.30M
+1.2% vs prior year
Net cash
$47.17M
as of Jun 30, 2026
Operating margin
-185.0%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- SPRY (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- San Diego, CA
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1671858
- Former names
- Silverback Therapeutics, Inc. (until Nov 8, 2022)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $84.3M | $89.1M | $30,000 | $1.3M | — |
| Operating income | -$179.4M | -$3.1M | -$67.5M | -$35.5M | -$19.5M |
| Net income | -$171.3M | $8.0M | -$54.4M | -$34.7M | -$20.2M |
| Diluted EPS | -$1.74 | $0.08 | -$0.57 | -$0.87 | — |
| Operating cash flow | -$170.9M | $13.5M | -$59.3M | -$40.1M | -$17.6M |
| Free cash flow | -$171.2M | $13.0M | -$59.4M | -$40.3M | -$17.6M |
| Total assets | $327.7M | $351.2M | $233.2M | $281.4M | $61.4M |
| Total liabilities | $213.4M | $94.4M | $2.4M | $8.5M | $16.7M |
| Stockholders' equity | $114.3M | $256.8M | $230.8M | $272.9M | -$31.3M |
| Cash and investments | $245.0M | $314.0M | $228.4M | $274.4M | $124.8M |
| Total debt | $96.4M | $42,000 | $274,000 | $481,000 | $5.8M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Aug 13, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 13, 2026 | Aug 13, 2026 |
| 8-K |
Current report
Officer or director change
|
Jul 17, 2026 | Jul 15, 2026 |
| 8-K |
Current report
Officer or director change
|
Jul 7, 2026 | Jul 6, 2026 |
| 8-K |
Current report
Shareholder vote results
|
Jun 25, 2026 | Jun 24, 2026 |
| 10-Q | Quarterly report | May 15, 2026 | Mar 31, 2026 |
All 547 ARS Pharmaceuticals, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.