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Side-by-side financial comparison of ATLANTIC AMERICAN CORP (AAME) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
ATLANTIC AMERICAN CORP is the larger business by last-quarter revenue ($53.8M vs $28.1M, roughly 1.9× ARS Pharmaceuticals, Inc.). ATLANTIC AMERICAN CORP runs the higher net margin — 1.1% vs -147.1%, a 148.2% gap on every dollar of revenue. On growth, ATLANTIC AMERICAN CORP posted the faster year-over-year revenue change (20.8% vs -67.6%).
The Atlantic Telegraph Company was a company formed on 6 November 1856 to undertake and exploit a commercial telegraph cable across the Atlantic Ocean, the first such telecommunications link.
ARS Pharmaceuticals, Inc. is a late-stage biopharmaceutical firm specializing in the development and commercialization of novel therapies for severe allergic reactions, most notably needle-free epinephrine delivery solutions for anaphylaxis. It primarily operates in the North American market, catering to both pediatric and adult patient groups at risk of life-threatening allergic responses.
AAME vs SPRY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $53.8M | $28.1M |
| Net Profit | $577.0K | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | 1.4% | -147.6% |
| Net Margin | 1.1% | -147.1% |
| Revenue YoY | 20.8% | -67.6% |
| Net Profit YoY | 128.9% | -182.8% |
| EPS (diluted) | $0.02 | $-0.41 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $28.1M | ||
| Q3 25 | $53.8M | $32.5M | ||
| Q2 25 | $55.3M | $15.7M | ||
| Q1 25 | $50.1M | $8.0M | ||
| Q4 24 | $49.0M | $86.6M | ||
| Q3 24 | $44.5M | $2.1M | ||
| Q2 24 | $47.7M | $500.0K | ||
| Q1 24 | $47.0M | $0 |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | $577.0K | $-51.2M | ||
| Q2 25 | $3.3M | $-44.9M | ||
| Q1 25 | $802.0K | $-33.9M | ||
| Q4 24 | $412.0K | $49.9M | ||
| Q3 24 | $-2.0M | $-19.1M | ||
| Q2 24 | $-684.0K | $-12.5M | ||
| Q1 24 | $-2.0M | $-10.3M |
| Q4 25 | — | -147.6% | ||
| Q3 25 | 1.4% | -163.7% | ||
| Q2 25 | 7.6% | -302.9% | ||
| Q1 25 | 2.1% | -466.3% | ||
| Q4 24 | 1.1% | 54.5% | ||
| Q3 24 | -5.5% | -1051.6% | ||
| Q2 24 | -1.8% | -3068.0% | ||
| Q1 24 | -5.3% | — |
| Q4 25 | — | -147.1% | ||
| Q3 25 | 1.1% | -157.4% | ||
| Q2 25 | 6.0% | -285.6% | ||
| Q1 25 | 1.6% | -425.7% | ||
| Q4 24 | 0.8% | 57.7% | ||
| Q3 24 | -4.5% | -925.0% | ||
| Q2 24 | -1.4% | -2503.2% | ||
| Q1 24 | -4.3% | — |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $0.02 | $-0.52 | ||
| Q2 25 | $0.15 | $-0.46 | ||
| Q1 25 | $0.03 | $-0.35 | ||
| Q4 24 | $0.01 | $0.52 | ||
| Q3 24 | $-0.10 | $-0.20 | ||
| Q2 24 | $-0.04 | $-0.13 | ||
| Q1 24 | $-0.10 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.4M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $109.5M | $114.3M |
| Total Assets | $430.9M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | $34.4M | $288.2M | ||
| Q2 25 | $46.4M | $240.1M | ||
| Q1 25 | $35.9M | $275.7M | ||
| Q4 24 | $35.6M | $314.0M | ||
| Q3 24 | $23.0M | $204.6M | ||
| Q2 24 | $21.2M | $218.7M | ||
| Q1 24 | $21.2M | $223.6M |
| Q4 25 | — | $96.4M | ||
| Q3 25 | — | $96.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $114.3M | ||
| Q3 25 | $109.5M | $147.7M | ||
| Q2 25 | $106.2M | $192.3M | ||
| Q1 25 | $102.4M | $229.0M | ||
| Q4 24 | $99.6M | $256.8M | ||
| Q3 24 | $105.8M | $201.0M | ||
| Q2 24 | $100.7M | $215.2M | ||
| Q1 24 | $102.8M | $223.9M |
| Q4 25 | — | $327.7M | ||
| Q3 25 | $430.9M | $372.8M | ||
| Q2 25 | $429.3M | $313.5M | ||
| Q1 25 | $388.4M | $327.3M | ||
| Q4 24 | $393.4M | $351.2M | ||
| Q3 24 | $387.0M | $217.6M | ||
| Q2 24 | $386.0M | $222.0M | ||
| Q1 24 | $365.8M | $227.6M |
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.6M | $-43.5M |
| Free Cash FlowOCF − Capex | $6.6M | — |
| FCF MarginFCF / Revenue | 12.3% | — |
| Capex IntensityCapex / Revenue | 0.1% | 0.0% |
| Cash ConversionOCF / Net Profit | 11.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $19.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-43.5M | ||
| Q3 25 | $6.6M | $-47.0M | ||
| Q2 25 | $9.3M | $-39.6M | ||
| Q1 25 | $-722.0K | $-40.7M | ||
| Q4 24 | $4.8M | $42.0M | ||
| Q3 24 | $90.0K | $-14.5M | ||
| Q2 24 | $416.0K | $-7.3M | ||
| Q1 24 | $-5.3M | $-6.7M |
| Q4 25 | — | — | ||
| Q3 25 | $6.6M | $-47.2M | ||
| Q2 25 | $9.1M | $-39.6M | ||
| Q1 25 | $-986.0K | $-40.8M | ||
| Q4 24 | $4.6M | $41.7M | ||
| Q3 24 | $58.0K | $-14.6M | ||
| Q2 24 | $361.0K | $-7.3M | ||
| Q1 24 | $-5.4M | $-6.8M |
| Q4 25 | — | — | ||
| Q3 25 | 12.3% | -145.4% | ||
| Q2 25 | 16.5% | -252.2% | ||
| Q1 25 | -2.0% | -512.1% | ||
| Q4 24 | 9.3% | 48.2% | ||
| Q3 24 | 0.1% | -706.3% | ||
| Q2 24 | 0.8% | -1463.4% | ||
| Q1 24 | -11.4% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 0.1% | 0.6% | ||
| Q2 25 | 0.3% | 0.3% | ||
| Q1 25 | 0.5% | 1.1% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 0.1% | 6.8% | ||
| Q2 24 | 0.1% | 7.6% | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | 11.51× | — | ||
| Q2 25 | 2.80× | — | ||
| Q1 25 | -0.90× | — | ||
| Q4 24 | 11.65× | 0.84× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAME
| Bankers Fidelity | $30.0M | 56% |
| American Southern | $23.7M | 44% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
