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ARS Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes treatments for severe allergic reactions in the United States and internationally. The company is involved in the development of neffy, a needle-free intranasal delivery of epinephrine for emergency treatment of Type I allergic reactions, including anaphylaxis. ARS Pharmaceuticals, Inc. was founded in 2015 and is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $84M | $-169M | $-171M | $-171M | -149.9% | -5.5% | -2241.8% |
| 2024 | $89M | $8M | $8M | $13M | 3.1% | 297063.3% | -114.7% |
| 2023 | $0M | $-68M | $-54M | $-59M | -23.6% | -97.7% | 56.8% |
| 2022 | $1M | $-35M | $-35M | $-40M | -12.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1.32 | 0.03 | 89.15 | 84.28 |
| Operating Revenue | - | 1.32 | 0.03 | 89.15 | 84.28 |
| Cost Of Revenue | - | - | 0 | 0.98 | 20.42 |
| Gross Profit | - | - | 0.03 | 88.17 | 63.86 |
| Operating Expense | - | 36.83 | 67.55 | 91.26 | 243.30 |
| Research And Development | - | 18.38 | 20.27 | 19.58 | 13.18 |
| Selling General And Administration | - | 18.46 | 47.28 | 71.68 | 230.12 |
| Total Expenses | - | 36.83 | 67.55 | 92.23 | 263.73 |
| Operating Income | - | -35.52 | -67.52 | -3.08 | -179.45 |
| Total Operating Income As Reported | - | -35.52 | -67.52 | -3.08 | -179.45 |
| EBITDA | - | -35.20 | -67.52 | 8.29 | -168.78 |
| Normalized EBITDA | - | -35.06 | -67.52 | 8.29 | -168.78 |
| EBIT | - | -35.52 | -67.52 | 8.29 | -168.78 |
| Interest Income | - | - | - | 11.37 | 10.67 |
| Interest Expense | - | - | - | 0 | 2.60 |
| Net Interest Income | - | - | - | 11.37 | 8.07 |
| Other Non Operating Income Expenses | -0.79 | 0.97 | 13.16 | 11.37 | - |
| Other Income Expense | -0.79 | 0.83 | 13.16 | 11.37 | - |
| Interest Income Non Operating | - | - | - | 11.37 | 10.67 |
| Interest Expense Non Operating | - | - | - | 0 | 2.60 |
| Net Non Operating Interest Income Expense | - | - | - | 11.37 | 8.07 |
| Pretax Income | - | -34.68 | -54.36 | 8.29 | -171.38 |
| Tax Provision | - | - | 0 | 0.29 | -0.08 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -34.68 | -54.36 | 8 | -171.30 |
| Net Income From Continuing And Discontinued Operation | - | -34.68 | -54.36 | 8 | -171.30 |
| Net Income From Continuing Operation Net Minority Interest | - | -34.68 | -54.36 | 8 | -171.30 |
| Net Income | - | -34.68 | -54.36 | 8 | -171.30 |
| Net Income Common Stockholders | - | -34.68 | -54.36 | 8 | -171.30 |
| Net Income Including Noncontrolling Interests | - | -34.68 | -54.36 | 8 | -171.30 |
| Normalized Income | - | -34.54 | -54.36 | 8 | -171.30 |
| Diluted NI Availto Com Stockholders | - | -34.68 | -54.36 | 8 | -171.30 |
| Basic Average Shares | 93.77 | 39.96 | 95.22 | 96.94 | - |
| Diluted Average Shares | 93.77 | 39.96 | 95.22 | 102.39 | - |
| Reconciled Depreciation | - | 0.32 | -6.78 | -7.18 | -4.16 |
| Reconciled Cost Of Revenue | - | - | 0 | 0.98 | 20.42 |
| Total Unusual Items | - | -0.14 | - | - | - |
| Total Unusual Items Excluding Goodwill | - | -0.14 | - | - | - |
| Gain On Sale Of Security | - | -0.14 | - | - | - |
| General And Administrative Expense | 4.69 | 18.46 | 47.28 | - | - |
| Other Gand A | 4.69 | 18.46 | 47.28 | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ARS Pharmaceuticals, Inc.this co. | SPRY | $901M | -5.26 | 7.88 | -149.9% | -5.66 |
| Nutex Health Inc. | NUTX | $930M | 13.13 | 2.82 | 21.5% | 3.81 |
| Annexon, Inc. | ANNX | $893M | -4.32 | 4.22 | -97.7% | -3.54 |
| Pacira BioSciences, Inc. | PCRX | $892M | 126.89 | 1.29 | 1.0% | 8.75 |
| Xencor, Inc. | XNCR | $890M | - |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.40 |
| -14.5% |
| - |
| Cullinan Therapeutics, Inc. | CGEM | $887M | -4.03 | 2.17 | -53.8% | -3.32 |
| MeiraGTx Holdings plc | MGTX | $886M | -7.76 | -152.99 | 1971.4% | -10.17 |
| Jade Biosciences, Inc. | JBIO | $876M | - | -18.71 | -38.3% | - |
| Certara, Inc. | CERT | $873M | -547.16 | 0.82 | -0.2% | 9.65 |
| Peer Median | - | -4.18 | 1.34 | -7.3% | 0.25 | |