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Side-by-side financial comparison of Bluerock Homes Trust, Inc. (BHM) 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× Bluerock Homes Trust, Inc.). Bluerock Homes Trust, Inc. runs the higher net margin — -50.1% vs -147.1%, a 97.0% gap on every dollar of revenue. On growth, Bluerock Homes Trust, Inc. posted the faster year-over-year revenue change (35.9% vs -67.6%).
Bluerock Homes Trust, Inc. is a U.S.-headquartered real estate investment trust that acquires, owns and operates a portfolio of high-quality single-family rental residential properties. It caters to middle-market renters across high-growth suburban markets, prioritizing regions with strong demographic fundamentals and sustained rental housing demand.
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.
BHM vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.9M | $28.1M |
| Net Profit | $-9.5M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | -48.8% | -147.6% |
| Net Margin | -50.1% | -147.1% |
| Revenue YoY | 35.9% | -67.6% |
| Net Profit YoY | -29.9% | -182.8% |
| EPS (diluted) | $-0.75 | $-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 | $18.9M | $28.1M | ||
| Q3 25 | $16.6M | $32.5M | ||
| Q2 25 | $16.8M | $15.7M | ||
| Q1 25 | $16.4M | $8.0M | ||
| Q4 24 | $13.9M | $86.6M | ||
| Q3 24 | $12.7M | $2.1M | ||
| Q2 24 | $12.5M | $500.0K | ||
| Q1 24 | $11.2M | $0 |
| Q4 25 | $-9.5M | $-41.3M | ||
| Q3 25 | $-10.0M | $-51.2M | ||
| Q2 25 | $-5.8M | $-44.9M | ||
| Q1 25 | $-7.3M | $-33.9M | ||
| Q4 24 | $-7.3M | $49.9M | ||
| Q3 24 | $3.5M | $-19.1M | ||
| Q2 24 | $-5.2M | $-12.5M | ||
| Q1 24 | $-3.2M | $-10.3M |
| Q4 25 | -48.8% | -147.6% | ||
| Q3 25 | -57.6% | -163.7% | ||
| Q2 25 | -30.9% | -302.9% | ||
| Q1 25 | -42.6% | -466.3% | ||
| Q4 24 | -52.8% | 54.5% | ||
| Q3 24 | 27.9% | -1051.6% | ||
| Q2 24 | -41.3% | -3068.0% | ||
| Q1 24 | -28.4% | — |
| Q4 25 | -50.1% | -147.1% | ||
| Q3 25 | -60.0% | -157.4% | ||
| Q2 25 | -34.7% | -285.6% | ||
| Q1 25 | -44.7% | -425.7% | ||
| Q4 24 | -52.8% | 57.7% | ||
| Q3 24 | 27.9% | -925.0% | ||
| Q2 24 | -41.3% | -2503.2% | ||
| Q1 24 | -28.4% | — |
| Q4 25 | $-0.75 | $-0.41 | ||
| Q3 25 | $-0.94 | $-0.52 | ||
| Q2 25 | $-0.66 | $-0.46 | ||
| Q1 25 | $-0.67 | $-0.35 | ||
| Q4 24 | $-0.65 | $0.52 | ||
| Q3 24 | $0.24 | $-0.20 | ||
| Q2 24 | $-0.42 | $-0.13 | ||
| Q1 24 | $-0.27 | $-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 | $169.6M | $245.0M |
| Total DebtLower is stronger | $428.4M | $96.4M |
| Stockholders' EquityBook value | $128.7M | $114.3M |
| Total Assets | $1.2B | $327.7M |
| Debt / EquityLower = less leverage | 3.33× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $169.6M | $245.0M | ||
| Q3 25 | $2.1M | $288.2M | ||
| Q2 25 | $4.2M | $240.1M | ||
| Q1 25 | $3.0M | $275.7M | ||
| Q4 24 | $115.2M | $314.0M | ||
| Q3 24 | $155.1M | $204.6M | ||
| Q2 24 | $116.0M | $218.7M | ||
| Q1 24 | $92.3M | $223.6M |
| Q4 25 | $428.4M | $96.4M | ||
| Q3 25 | $415.9M | $96.2M | ||
| Q2 25 | $338.6M | — | ||
| Q1 25 | $336.5M | — | ||
| Q4 24 | $373.8M | $0 | ||
| Q3 24 | $122.5M | — | ||
| Q2 24 | $119.7M | — | ||
| Q1 24 | $120.2M | — |
| Q4 25 | $128.7M | $114.3M | ||
| Q3 25 | $131.7M | $147.7M | ||
| Q2 25 | $135.3M | $192.3M | ||
| Q1 25 | $137.1M | $229.0M | ||
| Q4 24 | $139.1M | $256.8M | ||
| Q3 24 | $142.9M | $201.0M | ||
| Q2 24 | $142.5M | $215.2M | ||
| Q1 24 | $144.5M | $223.9M |
| Q4 25 | $1.2B | $327.7M | ||
| Q3 25 | $222.1M | $372.8M | ||
| Q2 25 | $220.3M | $313.5M | ||
| Q1 25 | $186.2M | $327.3M | ||
| Q4 24 | $967.0M | $351.2M | ||
| Q3 24 | $800.8M | $217.6M | ||
| Q2 24 | $756.2M | $222.0M | ||
| Q1 24 | $727.4M | $227.6M |
| Q4 25 | 3.33× | 0.84× | ||
| Q3 25 | 3.16× | 0.65× | ||
| Q2 25 | 2.50× | — | ||
| Q1 25 | 2.45× | — | ||
| Q4 24 | 2.69× | 0.00× | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 0.83× | — |
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 | $27.8M | $-43.5M |
| Free Cash FlowOCF − Capex | $10.4M | — |
| FCF MarginFCF / Revenue | 55.0% | — |
| Capex IntensityCapex / Revenue | 91.8% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.8M | $-43.5M | ||
| Q3 25 | $13.4M | $-47.0M | ||
| Q2 25 | $13.9M | $-39.6M | ||
| Q1 25 | $951.0K | $-40.7M | ||
| Q4 24 | $9.1M | $42.0M | ||
| Q3 24 | $1.7M | $-14.5M | ||
| Q2 24 | $1.3M | $-7.3M | ||
| Q1 24 | $1.1M | $-6.7M |
| Q4 25 | $10.4M | — | ||
| Q3 25 | $8.7M | $-47.2M | ||
| Q2 25 | $8.8M | $-39.6M | ||
| Q1 25 | $-2.9M | $-40.8M | ||
| Q4 24 | $-253.0K | $41.7M | ||
| Q3 24 | $-601.0K | $-14.6M | ||
| Q2 24 | $-654.0K | $-7.3M | ||
| Q1 24 | $-630.0K | $-6.8M |
| Q4 25 | 55.0% | — | ||
| Q3 25 | 52.4% | -145.4% | ||
| Q2 25 | 52.2% | -252.2% | ||
| Q1 25 | -17.6% | -512.1% | ||
| Q4 24 | -1.8% | 48.2% | ||
| Q3 24 | -4.7% | -706.3% | ||
| Q2 24 | -5.2% | -1463.4% | ||
| Q1 24 | -5.6% | — |
| Q4 25 | 91.8% | 0.0% | ||
| Q3 25 | 28.5% | 0.6% | ||
| Q2 25 | 30.3% | 0.3% | ||
| Q1 25 | 23.4% | 1.1% | ||
| Q4 24 | 66.9% | 0.3% | ||
| Q3 24 | 18.0% | 6.8% | ||
| Q2 24 | 15.3% | 7.6% | ||
| Q1 24 | 15.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BHM
| Residential Communities Segment | $11.4M | 61% |
| Scattered Single Family Homes Segment | $7.5M | 39% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
