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Side-by-side financial comparison of American Express (AXP) 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 $18.9M, roughly 1.5× American Express). American Express runs the higher net margin — 15.7% vs -147.1%, a 162.8% gap on every dollar of revenue. On growth, American Express posted the faster year-over-year revenue change (11.4% vs -67.6%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
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.
AXP vs SPRY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.9M | $28.1M |
| Net Profit | $3.0M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | — | -147.6% |
| Net Margin | 15.7% | -147.1% |
| Revenue YoY | 11.4% | -67.6% |
| Net Profit YoY | 15.0% | -182.8% |
| EPS (diluted) | — | $-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.
| Q1 26 | $18.9M | — | ||
| Q4 25 | $10.9B | $28.1M | ||
| Q3 25 | $10.4B | $32.5M | ||
| Q2 25 | $10.3B | $15.7M | ||
| Q1 25 | $9.6B | $8.0M | ||
| Q4 24 | $10.0B | $86.6M | ||
| Q3 24 | $9.7B | $2.1M | ||
| Q2 24 | $9.8B | $500.0K |
| Q1 26 | $3.0M | — | ||
| Q4 25 | $2.5B | $-41.3M | ||
| Q3 25 | $2.9B | $-51.2M | ||
| Q2 25 | $2.9B | $-44.9M | ||
| Q1 25 | $2.6B | $-33.9M | ||
| Q4 24 | $2.2B | $49.9M | ||
| Q3 24 | $2.5B | $-19.1M | ||
| Q2 24 | $3.0B | $-12.5M |
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | -147.6% | ||
| Q3 25 | 36.7% | -163.7% | ||
| Q2 25 | 34.4% | -302.9% | ||
| Q1 25 | 34.6% | -466.3% | ||
| Q4 24 | 27.7% | 54.5% | ||
| Q3 24 | 33.0% | -1051.6% | ||
| Q2 24 | 38.6% | -3068.0% |
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | -147.1% | ||
| Q3 25 | 27.9% | -157.4% | ||
| Q2 25 | 28.0% | -285.6% | ||
| Q1 25 | 26.8% | -425.7% | ||
| Q4 24 | 21.8% | 57.7% | ||
| Q3 24 | 25.8% | -925.0% | ||
| Q2 24 | 30.7% | -2503.2% |
| Q1 26 | — | — | ||
| Q4 25 | $3.52 | $-0.41 | ||
| Q3 25 | $4.14 | $-0.52 | ||
| Q2 25 | $4.08 | $-0.46 | ||
| Q1 25 | $3.64 | $-0.35 | ||
| Q4 24 | $3.04 | $0.52 | ||
| Q3 24 | $3.49 | $-0.20 | ||
| Q2 24 | $4.15 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $245.0M |
| Total DebtLower is stronger | $60.4M | $96.4M |
| Stockholders' EquityBook value | $34.0M | $114.3M |
| Total Assets | $308.9M | $327.7M |
| Debt / EquityLower = less leverage | 1.78× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $245.0M | ||
| Q3 25 | $1.3B | $288.2M | ||
| Q2 25 | $197.0M | $240.1M | ||
| Q1 25 | $261.0M | $275.7M | ||
| Q4 24 | $221.0M | $314.0M | ||
| Q3 24 | $120.0M | $204.6M | ||
| Q2 24 | $188.0M | $218.7M |
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $96.4M | ||
| Q3 25 | $57.8B | $96.2M | ||
| Q2 25 | $58.2B | — | ||
| Q1 25 | $51.2B | — | ||
| Q4 24 | $49.7B | $0 | ||
| Q3 24 | $53.5B | — | ||
| Q2 24 | $51.5B | — |
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $114.3M | ||
| Q3 25 | $32.4B | $147.7M | ||
| Q2 25 | $32.3B | $192.3M | ||
| Q1 25 | $31.2B | $229.0M | ||
| Q4 24 | $30.3B | $256.8M | ||
| Q3 24 | $29.7B | $201.0M | ||
| Q2 24 | $29.5B | $215.2M |
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $327.7M | ||
| Q3 25 | $297.6B | $372.8M | ||
| Q2 25 | $295.6B | $313.5M | ||
| Q1 25 | $282.2B | $327.3M | ||
| Q4 24 | $271.5B | $351.2M | ||
| Q3 24 | $271.0B | $217.6M | ||
| Q2 24 | $272.2B | $222.0M |
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 0.84× | ||
| Q3 25 | 1.78× | 0.65× | ||
| Q2 25 | 1.80× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.64× | 0.00× | ||
| Q3 24 | 1.80× | — | ||
| Q2 24 | 1.74× | — |
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 | — | $-43.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $-43.5M | ||
| Q3 25 | $6.2B | $-47.0M | ||
| Q2 25 | $4.4B | $-39.6M | ||
| Q1 25 | $4.8B | $-40.7M | ||
| Q4 24 | $5.8B | $42.0M | ||
| Q3 24 | $-1.8B | $-14.5M | ||
| Q2 24 | $4.5B | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $5.6B | $-47.2M | ||
| Q2 25 | $3.7B | $-39.6M | ||
| Q1 25 | $4.3B | $-40.8M | ||
| Q4 24 | $5.3B | $41.7M | ||
| Q3 24 | $-2.3B | $-14.6M | ||
| Q2 24 | $4.0B | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | — | ||
| Q3 25 | 53.6% | -145.4% | ||
| Q2 25 | 36.3% | -252.2% | ||
| Q1 25 | 45.0% | -512.1% | ||
| Q4 24 | 53.1% | 48.2% | ||
| Q3 24 | -23.3% | -706.3% | ||
| Q2 24 | 40.4% | -1463.4% |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 0.0% | ||
| Q3 25 | 6.3% | 0.6% | ||
| Q2 25 | 6.0% | 0.3% | ||
| Q1 25 | 4.5% | 1.1% | ||
| Q4 24 | 5.0% | 0.3% | ||
| Q3 24 | 4.7% | 6.8% | ||
| Q2 24 | 5.8% | 7.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | — | ||
| Q3 25 | 2.15× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | 0.84× | ||
| Q3 24 | -0.72× | — | ||
| Q2 24 | 1.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
| Discount revenue | $9.5M | 50% |
| Other | $8.9M | 47% |
| Deposits with banks and other | $512.0K | 3% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
