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Keros Therapeutics vs ARS Pharmaceuticals: KROS and SPRY compared
Keros Therapeutics is the larger company: $40.0M of revenue in its latest quarter (Q3 2026) against $37.7M for ARS Pharmaceuticals (Q3 2026). Keros Therapeutics is growing faster (+183% against +16% a year earlier). Keros Therapeutics is more profitable, with an operating margin of 32.0% against -90.6%.
Where the money goes: KROS and SPRY
Keros Therapeutics (KROS) · Q3 2026
Keros Therapeutics, Q3 2026: revenue $40.0M (+183% year over year), operating margin 32.0%, net earnings $14.2M, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
ARS Pharmaceuticals (SPRY) · Q3 2026
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.
| Keros Therapeutics (KROS) | ARS Pharmaceuticals (SPRY) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $40.0M | $37.7M |
| Revenue growth, Y/Y | +183% | +16% |
| Operating margin | 32.0% | -90.6% |
| Net earnings | $14.2M | −$35.6M |
| Net margin | 35.4% | -94.4% |
| Operating cash flow | $3.4M | −$33.7M |
| Free cash flow | $3.3M | — |
Where the revenue comes from
ARS Pharmaceuticals
- Product: $33.4M (89%)
- Revenue Under Supply Agreements: $2.6M (7%)
- Revenue Under Collaboration Agreements: $1.7M (4%)
Questions
Which is bigger, Keros Therapeutics or ARS Pharmaceuticals?
Keros Therapeutics is the larger company: $40.0M of revenue in its latest quarter (Q3 2026) against $37.7M for ARS Pharmaceuticals (Q3 2026).
Is Keros Therapeutics or ARS Pharmaceuticals growing faster?
Keros Therapeutics is growing faster (+183% against +16% a year earlier).
Which is more profitable, Keros Therapeutics or ARS Pharmaceuticals?
Keros Therapeutics is more profitable, with an operating margin of 32.0% against -90.6%.
More: Keros Therapeutics earnings · how Keros Therapeutics makes money · ARS Pharmaceuticals earnings · how ARS Pharmaceuticals makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.