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Side-by-side financial comparison of BGSF, INC. (BGSF) 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 $22.0M, roughly 1.3× BGSF, INC.). BGSF, INC. runs the higher net margin — -5.3% vs -147.1%, a 141.9% gap on every dollar of revenue. On growth, BGSF, INC. posted the faster year-over-year revenue change (-9.4% vs -67.6%).
BGSF Inc. is a leading U.S.-headquartered workforce solutions firm that provides tailored staffing, talent recruitment, and end-to-end workforce management services. It serves core segments including information technology, healthcare, professional administration, light industrial, and creative industries, catering to small, mid-sized and large enterprise clients across North America.
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.
BGSF vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.0M | $28.1M |
| Net Profit | $-1.2M | $-41.3M |
| Gross Margin | 35.0% | — |
| Operating Margin | -17.6% | -147.6% |
| Net Margin | -5.3% | -147.1% |
| Revenue YoY | -9.4% | -67.6% |
| Net Profit YoY | -18.2% | -182.8% |
| EPS (diluted) | $-0.12 | $-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 | $22.0M | $28.1M | ||
| Q3 25 | $26.9M | $32.5M | ||
| Q2 25 | $23.5M | $15.7M | ||
| Q1 25 | $20.9M | $8.0M | ||
| Q4 24 | $24.3M | $86.6M | ||
| Q3 24 | $29.8M | $2.1M | ||
| Q2 24 | $25.7M | $500.0K | ||
| Q1 24 | $24.5M | $0 |
| Q4 25 | $-1.2M | $-41.3M | ||
| Q3 25 | $-5.8M | $-51.2M | ||
| Q2 25 | $-3.7M | $-44.9M | ||
| Q1 25 | $-722.0K | $-33.9M | ||
| Q4 24 | $-981.0K | $49.9M | ||
| Q3 24 | $-804.0K | $-19.1M | ||
| Q2 24 | $-761.0K | $-12.5M | ||
| Q1 24 | $-792.0K | $-10.3M |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 35.9% | — | ||
| Q2 25 | 35.8% | — | ||
| Q1 25 | 36.2% | — | ||
| Q4 24 | 35.9% | — | ||
| Q3 24 | 35.9% | — | ||
| Q2 24 | 37.3% | — | ||
| Q1 24 | 38.1% | — |
| Q4 25 | -17.6% | -147.6% | ||
| Q3 25 | -3.5% | -163.7% | ||
| Q2 25 | -18.8% | -302.9% | ||
| Q1 25 | 1.6% | -466.3% | ||
| Q4 24 | -15.7% | 54.5% | ||
| Q3 24 | -3.4% | -1051.6% | ||
| Q2 24 | -5.7% | -3068.0% | ||
| Q1 24 | 1.7% | — |
| Q4 25 | -5.3% | -147.1% | ||
| Q3 25 | -21.6% | -157.4% | ||
| Q2 25 | -15.9% | -285.6% | ||
| Q1 25 | -3.5% | -425.7% | ||
| Q4 24 | -4.0% | 57.7% | ||
| Q3 24 | -2.7% | -925.0% | ||
| Q2 24 | -3.0% | -2503.2% | ||
| Q1 24 | -3.2% | — |
| Q4 25 | $-0.12 | $-0.41 | ||
| Q3 25 | $-0.52 | $-0.52 | ||
| Q2 25 | $-0.34 | $-0.46 | ||
| Q1 25 | $-0.06 | $-0.35 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | $-0.07 | $-0.20 | ||
| Q2 24 | $-0.07 | $-0.13 | ||
| Q1 24 | — | $-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 | — | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $48.1M | $114.3M |
| Total Assets | $57.8M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | $41.2M | $288.2M | ||
| Q2 25 | $2.8M | $240.1M | ||
| Q1 25 | $2.0M | $275.7M | ||
| Q4 24 | $32.0K | $314.0M | ||
| Q3 24 | $262 | $204.6M | ||
| Q2 24 | $226 | $218.7M | ||
| Q1 24 | $50 | $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 | $48.1M | $114.3M | ||
| Q3 25 | $50.7M | $147.7M | ||
| Q2 25 | $78.3M | $192.3M | ||
| Q1 25 | $81.8M | $229.0M | ||
| Q4 24 | $82.3M | $256.8M | ||
| Q3 24 | $82.9M | $201.0M | ||
| Q2 24 | $83.2M | $215.2M | ||
| Q1 24 | $83.6M | $223.9M |
| Q4 25 | $57.8M | $327.7M | ||
| Q3 25 | $83.6M | $372.8M | ||
| Q2 25 | $149.7M | $313.5M | ||
| Q1 25 | $152.3M | $327.3M | ||
| Q4 24 | $150.1M | $351.2M | ||
| Q3 24 | $157.3K | $217.6M | ||
| Q2 24 | $159.8K | $222.0M | ||
| Q1 24 | $170.6K | $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 | $1.7M | $-43.5M |
| Free Cash FlowOCF − Capex | $1.7M | — |
| FCF MarginFCF / Revenue | 7.6% | — |
| Capex IntensityCapex / Revenue | 0.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $-43.5M | ||
| Q3 25 | $-4.8M | $-47.0M | ||
| Q2 25 | $2.2M | $-39.6M | ||
| Q1 25 | $1.1M | $-40.7M | ||
| Q4 24 | $3.2M | $42.0M | ||
| Q3 24 | $6.5M | $-14.5M | ||
| Q2 24 | $7.3M | $-7.3M | ||
| Q1 24 | $7.4M | $-6.7M |
| Q4 25 | $1.7M | — | ||
| Q3 25 | $-4.9M | $-47.2M | ||
| Q2 25 | $2.1M | $-39.6M | ||
| Q1 25 | $1.0M | $-40.8M | ||
| Q4 24 | $2.5M | $41.7M | ||
| Q3 24 | $6.5M | $-14.6M | ||
| Q2 24 | $7.3M | $-7.3M | ||
| Q1 24 | $6.9M | $-6.8M |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -18.1% | -145.4% | ||
| Q2 25 | 9.1% | -252.2% | ||
| Q1 25 | 5.0% | -512.1% | ||
| Q4 24 | 10.2% | 48.2% | ||
| Q3 24 | 21.7% | -706.3% | ||
| Q2 24 | 28.5% | -1463.4% | ||
| Q1 24 | 28.1% | — |
| Q4 25 | 0.1% | 0.0% | ||
| Q3 25 | 0.4% | 0.6% | ||
| Q2 25 | 0.0% | 0.3% | ||
| Q1 25 | 0.1% | 1.1% | ||
| Q4 24 | 3.0% | 0.3% | ||
| Q3 24 | 0.0% | 6.8% | ||
| Q2 24 | 0.0% | 7.6% | ||
| Q1 24 | 2.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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
BGSF
| Contract Field Talent | $21.4M | 97% |
| Other | $595.0K | 3% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
