Stocks · Healthcare · Biotechnology
ARS Pharmaceuticals, Inc. SPRY
$4.07 -1.21% Close, Oct 2, 2026 · NASDAQ · Market cap $404.2M
Strong growthWeak trendExpensive vs sector
Next earnings report: Nov 9, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to -185.0% from -52.8% a year earlier.
- The stock is 69% below its highest close of the past year.
- Over the past year the stock returned -59.7%, behind the S&P 500 by 74.7 percentage points.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 38%
- Revenue growth, 3-year CAGRTop 2%
- Revenue growth accelerationTop 27%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 8%
- Gross marginTop 38%
- Operating marginBottom 25%
- Accruals (lower is better)Top 44%
- Interest coverBottom 17%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 14%
- Free-cash-flow yieldBottom 9%
- EBITDA / enterprise valueBottom 19%
- Sales / enterprise valueBottom 49%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 9%
- 6-month returnBottom 4%
- 1-year return vs S&P 500Bottom 6%
- Distance from 52-week highBottom 9%
- Trend checklist (0–4)Bottom 14%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 23%
- Consecutive EPS beatsBottom 20%
- Share of analysts rating BuyBottom 8%
- Upside to consensus price targetTop 7%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 27%
- Maximum drawdown, 3 yearsBottom 38%
- Beta vs S&P 500 (lower is better)Bottom 47%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 1.9% | 4.1% | ↑ |
| Gross margin | 88.4% | 73.9% | ↓ |
| Operating margin | -52.8% | -185.0% | ↓ |
| FCF margin | -47.5% | -168.1% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 4.1% | 1.9% | ↑ | Bottom 38% |
| Gross margin | 73.9% | 88.4% | ↓ | Top 38% |
| Operating margin | -185.0% | -52.8% | ↓ | Bottom 25% |
| Net margin | -184.2% | -42.7% | ↓ | — |
| Free-cash-flow margin | -168.1% | -47.5% | ↓ | — |
| Return on invested capital | -114.6% | — | Bottom 8% | |
| Revenue growth, 3-year CAGR | 300.1% | — | Top 2% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -7.6%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 26.7%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +75.5 pp
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -44.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.77%
- Shareholder yield
- -0.77%
- Share count change, 1 year
- +1.0%
- Share count change, 3-year CAGR
- +1.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 13, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 1 of 8
- Average EPS surprise, last 4
- -15.6%
- Average 2-day reaction, last 8
- -1.5%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $20.00
- Target vs current price
- +391.4%
- Analysts with a rating
- 10
- Share rating Buy or Strong Buy
- 40%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 13, 2026 | -31.9% | +0.8% | +5.5% | -16.4% | — |
| May 15, 2026 | -15.1% | -6.4% | +3.7% | +22.9% | -25.1% |
| Mar 9, 2026 | +0.0% | -0.1% | -7.4% | -7.4% | -1.8% |
| Nov 10, 2025 | -15.6% | +0.3% | -7.2% | +13.0% | +9.3% |
| Aug 13, 2025 | -12.2% | -5.0% | -17.2% | -37.0% | -45.7% |
| May 14, 2025 | +0.0% | -9.4% | +7.3% | +7.4% | +31.1% |
| Mar 20, 2025 | +1400.0% | +22.8% | +8.2% | +27.7% | +32.1% |
| Nov 13, 2024 | -11.1% | -15.2% | -17.0% | -26.1% | -30.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 13, 2026 | -$0.63 | -$0.48 | -31.9% | $33.7M |
| May 15, 2026 | -$0.61 | -$0.53 | -15.1% | $22.7M |
| Mar 9, 2026 | -$0.42 | -$0.42 | +0.0% | $28.1M |
| Nov 10, 2025 | -$0.52 | -$0.45 | -15.6% | $32.5M |
| Aug 13, 2025 | -$0.46 | -$0.41 | -12.2% | $15.7M |
| May 14, 2025 | -$0.35 | -$0.35 | +0.0% | $8.0M |
| Mar 20, 2025 | $0.52 | -$0.04 | +1400.0% | $86.6M |
| Nov 13, 2024 | -$0.20 | -$0.18 | -11.1% | $2.1M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 4.85× | — | — | Bottom 49% |
| Free-cash-flow yield | -48.64% | — | — | Bottom 9% |
| Earnings yield | -53.56% | — | — | Bottom 14% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -19.3%
- 200-day average slope (20 days)
- -5.4%
- Distance from 50-day average
- -22.7%
- Distance from 200-day average
- -49.8%
- RSI (14)
- 33.8
- Relative volume
- 1.26×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 70.8%
- Volatility vs own 5-year history
- 58th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.17
- Correlation with S&P 500
- 0.28
- Current drawdown from 1-year high
- -68.8%
- Maximum drawdown, 3 years
- -77.8%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Mar 17, 2021 | May 11, 2022 | -95.2% | 291 days | Not yet recovered |
| Dec 31, 2020 | Jan 6, 2021 | -18.8% | 3 days | 4 days (Jan 12, 2021) |
| Mar 2, 2021 | Mar 5, 2021 | -16.6% | 3 days | 5 days (Mar 12, 2021) |
| Jan 14, 2021 | Feb 5, 2021 | -14.8% | 15 days | 7 days (Feb 17, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $404.2M
- EPS, diluted (TTM)
- -$2.18
- Revenue (TTM)
- $116.9M
- 52-week range
- $3.99 – $13.15
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $5.5M | $1.3M | $30,000 | $89.1M | $84.3M |
| Gross profit | $5.3M | -$15.8M | $30,000 | $68.6M | $63.9M |
| Operating income | -$19.5M | -$35.5M | -$67.5M | -$3.1M | -$179.4M |
| Net income | -$20.2M | -$34.7M | -$54.4M | $8.0M | -$171.3M |
| EPS (diluted) | -$0.70 | -$0.87 | -$0.57 | $0.08 | -$1.74 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M | $86.6M | $8.0M | $15.7M | $32.5M | $28.1M | $22.7M | $33.7M |
| Net income | -$19.1M | $49.9M | -$33.9M | -$44.9M | -$51.2M | -$41.3M | -$60.6M | -$62.3M |
| EPS (diluted) | -$0.20 | $0.51 | -$0.35 | -$0.46 | -$0.52 | -$0.42 | -$0.61 | -$0.63 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$17.6M | -$40.1M | -$59.3M | $13.5M | -$170.9M |
| Capital expenditure | -$55,000 | -$199,000 | -$175,000 | -$563,000 | -$339,000 |
| Free cash flow | -$17.6M | -$40.3M | -$59.4M | $13.0M | -$171.2M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $169,000 | $570,000 | $6.9M | $3.0M | $5.7M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $143.8M
- Total assets
- $249.5M
- Total liabilities
- $237.0M
- Total debt
- $171.6M
- Net debt
- $163.4M
- Shareholders’ equity
- $12.5M
As of Jun 30, 2026 (filed Aug 13, 2026).
Short interest
- Shares sold short
- 23,073,209
- Days to cover
- 15.51
- Change vs previous report
- -0.6%
FINRA short interest, settlement date Sep 15, 2026.