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    ARS Pharmaceuticals, Inc (SPRY)

    Official site

    HEALTHCARE • BIOTECHNOLOGY • NASDAQ

    $2.79
    +0.14 (+5.28%)

    Market Cap: $263.54M

    Last updated: Nov 06, 2026 at 4:20 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    44%(11/25)
    Avg Surprise
    +34.80%

    Upcoming Estimates

    Period ending Dec 31, 2026
    EPS Consensus$-0.52
    Range$-0.70 - $-0.35
    3 analysts
    Revenue Consensus
    $33M
    Range$26M - $44M
    4 analysts
    Last 12 of 25 reported quarters and 1 upcoming estimate
    PeriodReportedEst.RangeSurpriseB/MAnalystsRevisionsYoY
    Dec 26EST
    		-$-0.52$-0.70 - $-0.35--3--
    Sep 26
    Reported Nov 5
    		$-0.36$-0.34$-0.40 - $-0.29-5.88%Miss3
    1
    2
    30d
    		+30.8%
    Jun 26
    Reported Aug 13
    		$-0.63$-0.55$-0.61 - $-0.36-14.55%Miss3
    1
    0
    30d
    		-37.0%
    Mar 26
    Reported May 15
    		$-0.61$-0.53$-0.67 - $-0.47-15.09%Miss4
    0
    1
    30d
    		-74.3%
    Dec 25
    Reported Mar 9
    		$-0.42$-0.42$-0.51 - $-0.37+1.08%Beat4
    1
    0
    30d
    		-182.4%
    Sep 25
    Reported Nov 10
    		$-0.52$-0.49$-0.56 - $-0.46-6.12%Miss5
    1
    1
    30d
    		-160.0%
    Jun 25
    Reported Aug 13
    		$-0.46$-0.51$-0.66 - $-0.42+9.80%Beat4
    0
    1
    30d
    		-253.8%
    Mar 25
    Reported May 14
    		$-0.35$-0.36$-0.46 - $-0.31+2.78%Beat4
    0
    3
    30d
    		-218.2%
    Dec 24
    Reported Mar 20
    		$0.51$-0.12$-0.31 - $0.28+534.04%Beat4
    2
    0
    30d
    		+828.6%
    Sep 24
    Reported Nov 13
    		$-0.20$-0.14$-0.19 - $-0.06-42.86%Miss4
    No revisions (30d)
    		-25.0%
    Jun 24
    Reported Aug 6
    		$-0.13$-0.11$-0.16 - $-0.09-18.18%Miss3
    No revisions (30d)
    		+27.8%
    Mar 24
    Reported May 9
    		$-0.11$-0.11$-0.14 - $-0.08+0.00%Beat2
    No revisions (30d)
    		+31.3%
    Dec 23
    Reported Mar 21
    		$-0.07$-0.14$-0.17 - $-0.11+50.00%Beat3
    No revisions (30d)
    		-109.1%

    Key Metrics

    Valuation
    P/E Ratio-1.38EV/EBITDAN/A
    Price/FCFN/AFCF YieldN/A
    Profitability
    Profit Margin-184.20%Operating Margin-182.60%
    ROE-210.30%ROIC-143.84%
    Financial Health
    Debt/Equity-10.19xInterest CoverageN/A
    Current Ratio3.25xQuick Ratio3.07x
    Trading Statistics
    Beta1.16Avg Volume2.01M
    52-Week High$13.1552-Week Low$2.59

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$3.29
    SMA 20$3.71
    SMA 50$4.29
    SMA 200$7.20
    EMA 10$3.23
    EMA 20$3.58
    EMA 50$4.31
    EMA 200$6.90

    MACD

    Line: -0.42Signal: -0.32Hist: -0.10

    ADX

    ADX: 31.7+DI: 12.2-DI: 40.3

    Aroon & PSAR

    Aroon Up16.0
    Aroon Down100.0
    PSAR$3.46

    Bollinger Bands

    Upper Band$4.77
    Lower Band$2.65
    %B Position5718%(Upper)
    Band Width0.07

    RSI (14-Day)

    Oversold
    25.8

    Momentum Oscillators

    Stoch %K10.0
    Stoch %D8.8
    Williams %R-82.5
    ROC (10d)-30.8%
    Momentum-1.24
    CCI (20d)-162.9
    MFI (14d)28.4

    Volatility Measures

    ATR (14d)$0.31(11.1%)
    StdDev (20d)0.53
    Hist Vol76.4%(High)

    Volume Flow

    VWAP$2.69
    OBV-75.4M
    AD Line-34.9M
    CMF (20d)-0.072

    Volume Metrics

    Avg Vol (20d)2.1M
    Vol Ratio2.7x(High)
    VWMA (20d)$3.55

    Pivot Points

    R3$3.47
    R2$3.28
    R1$2.97
    Pivot Point$2.78
    S1$2.46
    S2$2.27
    S3$1.96

    Advanced Oscillators

    TSI-40.33
    Ultimate Osc32.3
    KST-216.86

    Financial Data

    QuarterSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023
    Total Revenue$37.71M$33.66M$22.68M$28.09M$32.50M$15.72M$7.97M$86.58M$2.07M$500,000$0$-30,000
    Cost of Revenue$10.10M$12.85M$6.29M$-1,094,000$8.19M$4.98M$1.09M$977,000$0$0$0$3.40M
    Gross Profit$27.61M$20.81M$16.39M$29.18M$24.31M$10.73M$6.88M$85.60M$2.07M$500,000$0$-3,404,000
    Operating Expenses$61.78M$82.28M$76.54M$70.65M$77.50M$58.35M$44.06M$38.41M$23.82M$15.84M$13.19M$10.23M
    R&D$18.26M$4.70M$4.34M$3.44M$2.75M$4.04M$2.95M$3.03M$4.42M$6.90M$5.23M$3.40M
    SG&A$43.52M$77.58M$72.20M$59.95M$74.75M$54.31M$41.10M$35.49M$19.28M$8.94M$7.96M$6.82M
    Operating Income$-34,171,000$-61,465,000$-60,145,000$-41,465,000$-53,192,000$-47,614,000$-37,177,000$47.20M$-21,748,000$-15,340,000$-13,192,000$-10,226,000
    Interest Income$0$0$0$0$0$0$0$0$0$0$0$0
    Interest Expense$1.42M$874,000$473,000$0$0$0$0$0$0$0$0$0
    Income Before Tax$-35,587,000$-62,339,000$-60,618,000$-38,167,000$-51,151,000$-44,883,000$-33,940,000$50.22M$-19,128,000$-12,516,000$-10,292,000$-7,168,000
    Income Tax Expense$0$0$0$0$0$0$0$0$0$0$0$0
    Net Income$-35,587,000$-62,339,000$-60,618,000$-41,324,000$-51,151,000$-44,883,000$-33,940,000$49.93M$-19,128,000$-12,516,000$-10,292,000$-7,168,000
    EBITDA$-35,602,000$-62,573,000$-61,211,000$-42,051,000$-51,852,000$-46,071,000$-35,621,000$48.71M$-20,933,000$-14,402,000$-12,261,000$-8,883,000
    EBIT$-35,587,000$-62,339,000$-60,618,000$-41,465,000$-51,151,000$-44,883,000$-33,940,000$50.22M$-19,128,000$-12,516,000$-10,292,000$-7,168,000
    * Some calculated fields are derived from available data when not provided by source

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    News

    ARS Pharmaceuticals Analysts Cut Their Forecasts After Downbeat Q3 Results

    ARS Pharmaceuticals (NASDAQ: SPRY) reported weaker-than-expected Q3 results, missing analyst consensus for both losses per share and quarterly sales. Following the announcement...

    Benzinga•11/6/26•Somewhat-Bearish

    Raymond James downgrades ARS Pharmaceuticals stock rating on weak sales

    Raymond James downgraded ARS Pharmaceuticals (NASDAQ: SPRY) from Strong Buy to Outperform, lowering its price target due to weaker-than-expected neffy sales in the third quarter. The stock's price target was reduced from...

    Investing.com Canada•11/6/26•Bearish

    ARS Pharmaceuticals Inc (SPRY) Q3 2026 Earnings Call Highlights: neffy Market Share Tops 5% as ...

    ARS Pharmaceuticals (SPRY) reported Q3 2026 total revenue of $37.7 million, with neffy US net product revenue at $33.4 million and its US market share surpassing 5%. The company saw a 42% year-over-year increase in neffy...

    Yahoo Finance UK•11/6/26•Somewhat-Bullish

    ARS Pharmaceuticals, Inc. (SPRY) Misses Q3 EPS by 6c

    ARS Pharmaceuticals, Inc. (SPRY) reported its Q3 earnings, missing analyst estimates. The company posted an EPS of ($0.36), which was $0.06 worse than the anticipated ($0.30). Additionally...

    StreetInsider•11/5/26•Bearish

    ARS Pharma (SPRY) Q3 2026 Earnings Call Transcript

    ARS Pharma (SPRY) reported its Q3 2026 financial and operational results, including $37.7 million in total revenue and reaffirming its goal to achieve cash flow breakeven by the end of 2027. The company's neffy nasal...

    The Globe and Mail•11/5/26•Somewhat-Bullish

    SPRY Valuation and Fair Value

    P/E
    -1.4x
    P/B
    -23.3x
    See GNG's fair value

    SPRY Profitability: Margins, ROIC and FCF

    Gross margin
    77.0%
    Operating margin
    -182.6%
    Net margin
    -184.2%
    ROIC
    -143.8%
    ROE
    -210.3%
    FCF margin
    -149.9%

    SPRY Competitors

    CompanyTicker
    Q32 Bio IncQTTB
    Anika Therapeutics IncANIK
    Rocket Pharmaceuticals IncRCKT
    QuantumSi IncQSI
    InfuSystems Holdings IncINFU
    BioAge Labs, IncBIOA
    Century Therapeutics IncIPSC
    Spok Holdings IncSPOK

    Sector: Healthcare

    SPRY Analyst Ratings

    Consensus
    Buy
    Analysts
    4
    Strong Buy
    0
    Buy
    4
    Hold
    0
    Sell
    0
    Strong Sell
    0

    SPRY Bull Case vs Bear Case

    Bull case

    • SPRY grew quarterly revenue 114.2% year over year.

    Bear case

    • SPRY has a -184.2% net profit margin.

    SPRY Earnings: Beat Rate and Next Report

    Beat rate
    4 of 8 quarters (50.0%)
    Average surprise
    63.3%
    EPS estimate (fiscal period ending Dec 31, 2026)
    $-0.52

    SPRY Earnings Date

    SPRY reports Mar 8, 2027, after the close. The date is estimated.

    SPRY Earnings Call

    The latest SPRY earnings call transcript on file is labeled 2026Q2.

    Read the 2026Q2 transcript

    SPRY ETF Holders

    GNG tracks 8 ETFs that hold SPRY. The largest weights:

    1. abrdn Healthcare Investors (HQH), 1.09% of the fund
    2. State Street SPDR S&P Biotech ETF (XBI), 0.08% of the fund
    3. iShares Biotechnology ETF (IBB), 0.02% of the fund
    4. Vanguard Russell 2000 Index Fund ETF Shares (VTWO), 0.02% of the fund
    5. Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX), <0.01% of the fund
    Open the ETF Stock Exposure tool for SPRY

    Frequently Asked Questions About SPRY

    When does SPRY report earnings?

    ARS Pharmaceuticals, Inc (SPRY) is expected to report earnings on Mar 8, 2027.

    Does SPRY pay dividends?

    ARS Pharmaceuticals, Inc (SPRY) does not currently pay a regular dividend.

    What is SPRY's market cap?

    ARS Pharmaceuticals, Inc (SPRY) has a market capitalization of $263.54M with a current stock price of $2.79.

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