Filing Flows › ARS Pharmaceuticals (SPRY) › Q3 2026
ARS Pharmaceuticals (SPRY) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
ARS Pharmaceuticals (SPRY) reported revenue of $37.7M for the third quarter 2026 (Q3 2026), +16% from a year earlier and +12% from the quarter before. Operating margin was -90.6%, net loss $35.6M (94.4% of revenue).
ARS Pharmaceuticals, Q3 2026: revenue $37.7M (+16% year over year), operating margin -90.6%, net loss $35.6M, operating cash flow −$33.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $37.7M | +12% | +16% |
| Operating profit | −$34.2M | — | — |
| Net earnings | −$35.6M | — | — |
| Operating cash flow | −$33.7M | — | — |
What changed
Revenue was $37.7M in Q3 2026, up 16% year over year and up 12% from the previous quarter. Product was the largest line at 89% of revenue. Product added $2.1M year over year (up 7%), 41% of the total change.
Operating costs exceeded revenue by $34.2M, an operating margin of -90.6%. Total costs fell 16% while revenue rose 16%. The fastest-growing cost line was Research & development (+564%). The quarter ended with a net loss of $35.6M, narrower than the previous quarter's $62.3M loss.
Operating cash flow was −$33.7M. Non-cash charges added back $415K of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items used $6.7M.
Questions
What was ARS Pharmaceuticals' revenue in the third quarter 2026?
ARS Pharmaceuticals (SPRY) reported revenue of $37.7M for the third quarter 2026 (Q3 2026), +16% from a year earlier and +12% from the quarter before.
Was ARS Pharmaceuticals profitable in the third quarter 2026?
Operating loss was $34.2M (-90.6% of revenue) and net loss $35.6M.