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Side-by-side financial comparison of AGIOS PHARMACEUTICALS, INC. (AGIO) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
ARS Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($28.1M vs $20.0M, roughly 1.4× AGIOS PHARMACEUTICALS, INC.). ARS Pharmaceuticals, Inc. runs the higher net margin — -147.1% vs -541.1%, a 394.0% gap on every dollar of revenue. On growth, AGIOS PHARMACEUTICALS, INC. posted the faster year-over-year revenue change (86.1% vs -67.6%).
Agios Pharmaceuticals Inc. is a publicly trading American pharmaceutical company pioneering therapies for genetically defined diseases, with a near-term focus on developing therapies for hemolytic anemias. The company was founded in 2008 by Lewis Cantley, Tak Mak and Craig Thompson. Agios is a Delaware corporation headquartered in Cambridge, Massachusetts. The company tendered an initial public offering in July 2013.
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.
AGIO vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.0M | $28.1M |
| Net Profit | $-108.0M | $-41.3M |
| Gross Margin | 90.6% | — |
| Operating Margin | -608.9% | -147.6% |
| Net Margin | -541.1% | -147.1% |
| Revenue YoY | 86.1% | -67.6% |
| Net Profit YoY | -11.9% | -182.8% |
| EPS (diluted) | $-1.86 | $-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 | $20.0M | $28.1M | ||
| Q3 25 | $12.9M | $32.5M | ||
| Q2 25 | $12.5M | $15.7M | ||
| Q1 25 | $8.7M | $8.0M | ||
| Q4 24 | $10.7M | $86.6M | ||
| Q3 24 | $9.0M | $2.1M | ||
| Q2 24 | $8.6M | $500.0K | ||
| Q1 24 | $8.2M | $0 |
| Q4 25 | $-108.0M | $-41.3M | ||
| Q3 25 | $-103.4M | $-51.2M | ||
| Q2 25 | $-112.0M | $-44.9M | ||
| Q1 25 | $-89.3M | $-33.9M | ||
| Q4 24 | $-96.5M | $49.9M | ||
| Q3 24 | $947.9M | $-19.1M | ||
| Q2 24 | $-96.1M | $-12.5M | ||
| Q1 24 | $-81.5M | $-10.3M |
| Q4 25 | 90.6% | — | ||
| Q3 25 | 87.0% | — | ||
| Q2 25 | 86.3% | — | ||
| Q1 25 | 87.6% | — | ||
| Q4 24 | 88.3% | — | ||
| Q3 24 | 91.3% | — | ||
| Q2 24 | 82.6% | — | ||
| Q1 24 | 92.3% | — |
| Q4 25 | -608.9% | -147.6% | ||
| Q3 25 | -907.4% | -163.7% | ||
| Q2 25 | -1020.1% | -302.9% | ||
| Q1 25 | -1222.0% | -466.3% | ||
| Q4 24 | -1165.3% | 54.5% | ||
| Q3 24 | -1146.9% | -1051.6% | ||
| Q2 24 | -1228.3% | -3068.0% | ||
| Q1 24 | -1124.3% | — |
| Q4 25 | -541.1% | -147.1% | ||
| Q3 25 | -803.1% | -157.4% | ||
| Q2 25 | -899.4% | -285.6% | ||
| Q1 25 | -1023.3% | -425.7% | ||
| Q4 24 | -899.6% | 57.7% | ||
| Q3 24 | 10574.7% | -925.0% | ||
| Q2 24 | -1115.7% | -2503.2% | ||
| Q1 24 | -995.8% | — |
| Q4 25 | $-1.86 | $-0.41 | ||
| Q3 25 | $-1.78 | $-0.52 | ||
| Q2 25 | $-1.93 | $-0.46 | ||
| Q1 25 | $-1.55 | $-0.35 | ||
| Q4 24 | $-1.44 | $0.52 | ||
| Q3 24 | $16.22 | $-0.20 | ||
| Q2 24 | $-1.69 | $-0.13 | ||
| Q1 24 | $-1.45 | $-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 | $89.1M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $1.2B | $114.3M |
| Total Assets | $1.3B | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $89.1M | $245.0M | ||
| Q3 25 | $92.7M | $288.2M | ||
| Q2 25 | $80.9M | $240.1M | ||
| Q1 25 | $79.0M | $275.7M | ||
| Q4 24 | $76.2M | $314.0M | ||
| Q3 24 | $253.7M | $204.6M | ||
| Q2 24 | $84.5M | $218.7M | ||
| Q1 24 | $118.8M | $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 | $1.2B | $114.3M | ||
| Q3 25 | $1.3B | $147.7M | ||
| Q2 25 | $1.4B | $192.3M | ||
| Q1 25 | $1.5B | $229.0M | ||
| Q4 24 | $1.5B | $256.8M | ||
| Q3 24 | $1.6B | $201.0M | ||
| Q2 24 | $660.5M | $215.2M | ||
| Q1 24 | $743.9M | $223.9M |
| Q4 25 | $1.3B | $327.7M | ||
| Q3 25 | $1.4B | $372.8M | ||
| Q2 25 | $1.5B | $313.5M | ||
| Q1 25 | $1.6B | $327.3M | ||
| Q4 24 | $1.7B | $351.2M | ||
| Q3 24 | $1.8B | $217.6M | ||
| Q2 24 | $773.1M | $222.0M | ||
| Q1 24 | $849.7M | $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 | $-96.2M | $-43.5M |
| Free Cash FlowOCF − Capex | $-97.3M | — |
| FCF MarginFCF / Revenue | -487.5% | — |
| Capex IntensityCapex / Revenue | 5.6% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-377.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-96.2M | $-43.5M | ||
| Q3 25 | $-88.2M | $-47.0M | ||
| Q2 25 | $-77.1M | $-39.6M | ||
| Q1 25 | $-111.5M | $-40.7M | ||
| Q4 24 | $-133.2M | $42.0M | ||
| Q3 24 | $-84.2M | $-14.5M | ||
| Q2 24 | $-72.6M | $-7.3M | ||
| Q1 24 | $-99.9M | $-6.7M |
| Q4 25 | $-97.3M | — | ||
| Q3 25 | $-89.7M | $-47.2M | ||
| Q2 25 | $-78.0M | $-39.6M | ||
| Q1 25 | $-112.3M | $-40.8M | ||
| Q4 24 | $-134.1M | $41.7M | ||
| Q3 24 | $-84.6M | $-14.6M | ||
| Q2 24 | $-72.7M | $-7.3M | ||
| Q1 24 | $-100.0M | $-6.8M |
| Q4 25 | -487.5% | — | ||
| Q3 25 | -696.5% | -145.4% | ||
| Q2 25 | -626.2% | -252.2% | ||
| Q1 25 | -1286.4% | -512.1% | ||
| Q4 24 | -1250.1% | 48.2% | ||
| Q3 24 | -944.2% | -706.3% | ||
| Q2 24 | -844.4% | -1463.4% | ||
| Q1 24 | -1221.2% | — |
| Q4 25 | 5.6% | 0.0% | ||
| Q3 25 | 12.1% | 0.6% | ||
| Q2 25 | 7.0% | 0.3% | ||
| Q1 25 | 8.8% | 1.1% | ||
| Q4 24 | 9.0% | 0.3% | ||
| Q3 24 | 4.7% | 6.8% | ||
| Q2 24 | 1.8% | 7.6% | ||
| Q1 24 | 1.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | -0.09× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGIO
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
