SPRY - ARS Pharmaceuticals, Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$25.50
DETAILS
HIGH:
$26.00
LOW:
$25.00
MEDIAN:
$25.50
CONSENSUS:
$25.50
UPSIDE:
211.27%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 84.3 | 89.1 | 0.0 | 1.3 | 5.5 | 17.8 | 0 | 0 |
| Cost of Revenue | 20.4 | 20.6 | 0 | 17.1 | 0.2 | 14.1 | 1.5 | 1.4 |
| Gross Profit | 63.9 | 68.6 | 0.0 | (15.8) | 5.3 | 3.8 | (1.5) | (1.4) |
| Operating Expenses | ||||||||
| R&D Expenses | 13.2 | 19.6 | 20.3 | 18.4 | 20.3 | 14.1 | 21.5 | 14.8 |
| SG&A Expenses | 230.1 | 0 | 47.3 | 18.7 | 4.7 | 4.2 | 1.0 | 2.1 |
| Other Expenses | 0 | 52.1 | 0 | (17.3) | (0.2) | (14.1) | 0 | 0 |
| Operating Expenses | 243.3 | 71.7 | 67.5 | 19.7 | 24.7 | 4.2 | 22.5 | 16.9 |
| Operating Income | ||||||||
| Operating Income | (179.4) | (3.1) | (67.5) | (35.5) | (19.5) | (0.5) | (24.1) | (18.3) |
| Interest Expense | 2.6 | 0 | 0 | 0 | 0.1 | 0.0 | – | 0 |
| Interest Income | 10.7 | 0 | 0 | 0 | 0.8 | 0.4 | 0.1 | 0.0 |
| Profitability | ||||||||
| EBITDA | (178.1) | (3.0) | (67.4) | (35.2) | (19.2) | (0.5) | (22.5) | (16.9) |
| EBIT | (179.4) | (3.1) | (67.5) | (35.5) | (19.5) | (0.5) | (24.0) | (17.6) |
| Income Before Tax | (171.4) | 8.3 | (54.4) | (34.7) | (20.2) | (1.1) | (24.0) | (17.6) |
| Income Tax Expense | (0.1) | 0.3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (171.3) | 8.0 | (54.4) | (34.7) | (20.2) | (1.1) | (24.0) | (17.6) |
| Per Share Data | ||||||||
| EPS (Basic) | -1.74 | 0.08 | -0.57 | -0.87 | -0.70 | -0.03 | -0.72 | -0.53 |
| EPS (Diluted) | -1.74 | 0.08 | -0.57 | -0.87 | -0.70 | -0.03 | -0.72 | -0.53 |
| Shares Outstanding | 98.6 | 96.9 | 95.2 | 40.0 | 28.9 | 34.7 | 33.1 | 33.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 41.3 | 50.8 | 71.0 | 210.5 | 60.1 | 24.5 | 10.0 | 20.2 |
| Short-Term Investments | 203.7 | 263.2 | 157.4 | 63.9 | 0 | 0 | 0 | 0 |
| Net Receivables | 25.3 | 9.2 | 0.8 | 0 | 0.0 | 0.4 | 0 | 0 |
| Inventory | 8.4 | 5.2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 6.2 | 1.2 | 0 | 1.0 | 0 | 0 | 0.6 | 0.6 |
| Total Current Assets | 284.9 | 334.3 | 231.6 | 277.7 | 60.7 | 26.4 | 10.5 | 20.8 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 2.5 | 1.1 | 0.8 | 0.8 | 0.7 | 0.0 | 4.6 | 6.0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 14.5 | 7.7 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0.6 | 0.8 |
| Other Non-Current Assets | 25.8 | 8.1 | 0.8 | 3.0 | 0.0 | 0.0 | 0 | 0 |
| Total Non-Current Assets | 42.8 | 16.9 | 1.6 | 3.7 | 0.7 | 0.0 | 5.1 | 6.8 |
| Total Assets | 327.7 | 351.2 | 233.2 | 281.4 | 61.4 | 26.4 | 15.6 | 27.5 |
| Current Liabilities | ||||||||
| Account Payables | 5.7 | 9.9 | 0.8 | 1.7 | 1.8 | 1.2 | 3.5 | 0.8 |
| Short-Term Debt | 0.6 | 0 | 0.2 | 0 | 3.5 | 2.6 | 12.3 | 3.5 |
| Deferred Revenue | 0 | 0.6 | 0 | 0 | 1.5 | 3.5 | 0 | 0 |
| Other Current Liabilities | 32.8 | 2.3 | 1.1 | 1.5 | 0.7 | 0 | 2.1 | 0.8 |
| Total Current Liabilities | 39.1 | 23.4 | 2.4 | 5.4 | 8.2 | 8.2 | 17.9 | 5.1 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 96.4 | 0 | 0 | 0 | 4.9 | 7.5 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 76.7 | 69.4 | 0 | 2.9 | 76.1 | 21.3 | 0 | 0 |
| Total Non-Current Liabilities | 174.2 | 70.9 | 0.0 | 3.1 | 84.5 | 32.2 | 3.3 | 4.2 |
| Total Liabilities | 213.4 | 94.4 | 2.4 | 8.5 | 92.7 | 40.5 | 21.2 | 9.3 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0 | 0 |
| Retained Earnings | (294.6) | (123.3) | (131.3) | (76.9) | (42.3) | (22.0) | (63.8) | (39.8) |
| Accumulated Other Comprehensive Income | 0.1 | 0.2 | 0.0 | 0.4 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 114.3 | 256.8 | 230.8 | 272.9 | (31.3) | (14.1) | (5.6) | 18.2 |
| Total Liabilities & Equity | 327.7 | 351.2 | 233.2 | 281.4 | 61.4 | 26.4 | 15.6 | 27.5 |
| Debt Metrics | ||||||||
| Total Debt | 97.0 | 0.0 | 0.3 | 0.5 | 9.0 | 10.0 | 15.6 | 7.7 |
| Net Debt | 55.6 | (50.8) | (70.7) | (210.0) | (51.0) | (14.5) | 5.6 | (12.4) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (171.3) | 8.0 | (54.4) | (34.7) | (20.2) | (1.1) | (24.0) | (17.6) |
| Depreciation & Amortization | 1.4 | (7.2) | 0.1 | 0.3 | 0.2 | 0.0 | 1.5 | 1.4 |
| Stock-Based Compensation | 22.1 | 14.5 | 9.2 | 5.8 | 2.8 | 3.5 | 0 | 0 |
| Change in Working Capital | (20.0) | (1.8) | (7.3) | (12.8) | (0.4) | 6.5 | 3.3 | (0.4) |
| Other Non-Cash Items | (3.0) | 0 | (6.9) | 1.2 | (0.0) | 0.1 | 0.2 | 2.0 |
| Operating Cash Flow | (170.9) | 13.5 | (59.3) | (40.1) | (17.6) | 9.1 | (18.9) | (16.9) |
| Investing Activities | ||||||||
| Capital Expenditure | (0.3) | (0.6) | (0.2) | (0.2) | (0.1) | (0.9) | (0.1) | (0.4) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (242.0) | (356.0) | (272.0) | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 307 | 258 | 185 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (7.9) | (7.5) | 0 | 0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | 56.8 | (106.1) | (87.2) | (0.2) | (0.1) | (0.9) | (0.1) | (0.4) |
| Financing Activities | ||||||||
| Net Debt Issuance | 96.3 | 69.4 | 0 | (8.7) | (1.8) | 5 | 8.6 | (0.9) |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 2.7 | 0 | 0 | 198.8 | 0.2 | (409.1) | 0 | 0 |
| Financing Cash Flow | 104.6 | 72.4 | 6.9 | 190.7 | 53.2 | 5.1 | 8.6 | 19.4 |
| Cash Position | ||||||||
| Net Change in Cash | (9.5) | (20.2) | (139.5) | 150.5 | 35.5 | 14.2 | (10.2) | 2.1 |
| Cash at Beginning | 50.8 | 71.0 | 210.5 | 60.1 | 24.5 | 10.4 | 20.2 | 18.1 |
| Cash at End | 41.3 | 50.8 | 71.0 | 210.5 | 60.1 | 24.5 | 10.0 | 20.2 |
| Free Cash Flow | (171.2) | 13.0 | (59.4) | (40.3) | (17.6) | 8.2 | (19.0) | (17.3) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 84.3 | 89.1 | 0.0 | 1.3 | 5.5 | 17.8 | 0 | 0 |
| Gross Profit | 63.9 | 68.6 | 0.0 | (15.8) | 5.3 | 3.8 | (1.5) | (1.4) |
| Operating Income | (179.4) | (3.1) | (67.5) | (35.5) | (19.5) | (0.5) | (24.1) | (18.3) |
| Net Income | (171.3) | 8.0 | (54.4) | (34.7) | (20.2) | (1.1) | (24.0) | (17.6) |
| EPS (Diluted) | -1.74 | 0.08 | -0.57 | -0.87 | -0.70 | -0.03 | -0.72 | -0.53 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 41.3 | 50.8 | 71.0 | 210.5 | 60.1 | 24.5 | 10.0 | 20.2 |
| Total Assets | 327.7 | 351.2 | 233.2 | 281.4 | 61.4 | 26.4 | 15.6 | 27.5 |
| Total Debt | 97.0 | 0.0 | 0.3 | 0.5 | 9.0 | 10.0 | 15.6 | 7.7 |
| Stockholders' Equity | 114.3 | 256.8 | 230.8 | 272.9 | (31.3) | (14.1) | (5.6) | 18.2 |
| Cash Flow | ||||||||
| Operating Cash Flow | (170.9) | 13.5 | (59.3) | (40.1) | (17.6) | 9.1 | (18.9) | (16.9) |
| Capital Expenditure | (0.3) | (0.6) | (0.2) | (0.2) | (0.1) | (0.9) | (0.1) | (0.4) |
| Free Cash Flow | (171.2) | 13.0 | (59.4) | (40.3) | (17.6) | 8.2 | (19.0) | (17.3) |