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ARS Pharmaceuticals vs Akebia Therapeutics: SPRY and AKBA compared
ARS Pharmaceuticals is the larger company: $37.7M of revenue in its latest quarter (Q3 2026) against $36.9M for Akebia Therapeutics (Q3 2026). ARS Pharmaceuticals is growing faster (+16% against -37% a year earlier). Akebia Therapeutics is more profitable, with an operating margin of -31.1% against -90.6%.
Where the money goes: SPRY and AKBA
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.
Akebia Therapeutics (AKBA) · Q3 2026
Akebia Therapeutics, Q3 2026: revenue $36.9M (-37% year over year), operating margin -31.1%, net loss $14.4M, operating cash flow $2.3M. The chart follows the revenue to costs, profit and cash.
| ARS Pharmaceuticals (SPRY) | Akebia Therapeutics (AKBA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $37.7M | $36.9M |
| Revenue growth, Y/Y | +16% | -37% |
| Operating margin | -90.6% | -31.1% |
| Net earnings | −$35.6M | −$14.4M |
| Net margin | -94.4% | -38.9% |
| Operating cash flow | −$33.7M | $2.3M |
| Free cash flow | — | $1.6M |
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%)
Akebia Therapeutics
- Product revenue, net: $34.8M (94%)
- License, collaboration and other revenue: $2.1M (6%)
Questions
Which is bigger, ARS Pharmaceuticals or Akebia Therapeutics?
ARS Pharmaceuticals is the larger company: $37.7M of revenue in its latest quarter (Q3 2026) against $36.9M for Akebia Therapeutics (Q3 2026).
Is ARS Pharmaceuticals or Akebia Therapeutics growing faster?
ARS Pharmaceuticals is growing faster (+16% against -37% a year earlier).
Which is more profitable, ARS Pharmaceuticals or Akebia Therapeutics?
Akebia Therapeutics is more profitable, with an operating margin of -31.1% against -90.6%.
More: ARS Pharmaceuticals earnings · how ARS Pharmaceuticals makes money · Akebia Therapeutics earnings · how Akebia Therapeutics 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.