Filing Flows › ARS Pharmaceuticals (SPRY) › How it makes money
How ARS Pharmaceuticals (SPRY) makes money
ARS Pharmaceuticals (SPRY) made $37.7M of revenue in the third quarter 2026 (Q3 2026), +16% from a year earlier. Product brought in $33.4M (89%); Revenue Under Supply Agreements brought in $2.6M (7%); Revenue Under Collaboration Agreements brought in $1.7M (4%).
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product | $33.4M | 88.6% | +27% | +7% |
| Revenue Under Supply Agreements | $2.6M | 7.0% | -64% | +130% |
| Revenue Under Collaboration Agreements | $1.7M | 4.4% | 29× | 30× |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $37.7M | 100.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $37.7M | +16% |
| Q2 2026 | $33.7M | +114% |
| Q1 2026 | $22.7M | +184% |
| Q4 2025 | $28.1M | -68% |
| Q3 2025 | $32.5M | 16× |
| Q2 2025 | $15.7M | 31× |
| Q1 2025 | $8.0M | — |
From ARS Pharmaceuticals' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does ARS Pharmaceuticals make money?
ARS Pharmaceuticals (SPRY) made $37.7M of revenue in the third quarter 2026 (Q3 2026), +16% from a year earlier. Product brought in $33.4M (89%); Revenue Under Supply Agreements brought in $2.6M (7%); Revenue Under Collaboration Agreements brought in $1.7M (4%).
What is ARS Pharmaceuticals' biggest business?
Product: $33.4M in the third quarter 2026, 89% of revenue, +7% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.