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Side-by-side financial comparison of Boxlight Corp (BOXL) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Boxlight Corp is the larger business by last-quarter revenue ($29.3M vs $28.1M, roughly 1.0× ARS Pharmaceuticals, Inc.). Boxlight Corp runs the higher net margin — -21.1% vs -147.1%, a 126.0% gap on every dollar of revenue. On growth, Boxlight Corp posted the faster year-over-year revenue change (-19.2% vs -67.6%).
Boxlight Corp is a global provider of interactive technology solutions, including interactive flat panel displays, projectors, collaborative software, and classroom technology accessories. It primarily serves K-12 and higher education institutions, as well as corporate and government customers across North America, Europe, and Asia Pacific, focusing on enhancing learning and work collaboration efficiency.
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.
BOXL vs SPRY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $29.3M | $28.1M |
| Net Profit | $-6.2M | $-41.3M |
| Gross Margin | 29.1% | — |
| Operating Margin | -13.4% | -147.6% |
| Net Margin | -21.1% | -147.1% |
| Revenue YoY | -19.2% | -67.6% |
| Net Profit YoY | -102.0% | -182.8% |
| EPS (diluted) | $-1.88 | $-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 | $29.3M | $32.5M | ||
| Q2 25 | $30.9M | $15.7M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | $24.0M | $86.6M | ||
| Q3 24 | $36.3M | $2.1M | ||
| Q2 24 | $38.5M | $500.0K | ||
| Q1 24 | $37.1M | $0 |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | $-6.2M | $-51.2M | ||
| Q2 25 | $-4.7M | $-44.9M | ||
| Q1 25 | — | $-33.9M | ||
| Q4 24 | $-16.7M | $49.9M | ||
| Q3 24 | $-3.1M | $-19.1M | ||
| Q2 24 | $-1.5M | $-12.5M | ||
| Q1 24 | $-7.1M | $-10.3M |
| Q4 25 | — | — | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 35.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 30.6% | — | ||
| Q3 24 | 33.8% | — | ||
| Q2 24 | 37.7% | — | ||
| Q1 24 | 34.5% | — |
| Q4 25 | — | -147.6% | ||
| Q3 25 | -13.4% | -163.7% | ||
| Q2 25 | -12.7% | -302.9% | ||
| Q1 25 | — | -466.3% | ||
| Q4 24 | -67.6% | 54.5% | ||
| Q3 24 | -2.4% | -1051.6% | ||
| Q2 24 | 3.2% | -3068.0% | ||
| Q1 24 | -9.7% | — |
| Q4 25 | — | -147.1% | ||
| Q3 25 | -21.1% | -157.4% | ||
| Q2 25 | -15.3% | -285.6% | ||
| Q1 25 | — | -425.7% | ||
| Q4 24 | -69.6% | 57.7% | ||
| Q3 24 | -8.4% | -925.0% | ||
| Q2 24 | -3.8% | -2503.2% | ||
| Q1 24 | -19.1% | — |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $-1.88 | $-0.52 | ||
| Q2 25 | $-1.53 | $-0.46 | ||
| Q1 25 | — | $-0.35 | ||
| Q4 24 | $-87.29 | $0.52 | ||
| Q3 24 | $-1.72 | $-0.20 | ||
| Q2 24 | $-0.92 | $-0.13 | ||
| Q1 24 | $-0.76 | $-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 | $11.8M | $245.0M |
| Total DebtLower is stronger | $36.7M | $96.4M |
| Stockholders' EquityBook value | $-19.5M | $114.3M |
| Total Assets | $99.6M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | $11.8M | $288.2M | ||
| Q2 25 | $7.6M | $240.1M | ||
| Q1 25 | — | $275.7M | ||
| Q4 24 | $8.0M | $314.0M | ||
| Q3 24 | $10.5M | $204.6M | ||
| Q2 24 | $7.5M | $218.7M | ||
| Q1 24 | $11.8M | $223.6M |
| Q4 25 | — | $96.4M | ||
| Q3 25 | $36.7M | $96.2M | ||
| Q2 25 | $39.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $37.1M | $0 | ||
| Q3 24 | $38.8M | — | ||
| Q2 24 | $40.3M | — | ||
| Q1 24 | $38.5M | — |
| Q4 25 | — | $114.3M | ||
| Q3 25 | $-19.5M | $147.7M | ||
| Q2 25 | $-20.6M | $192.3M | ||
| Q1 25 | — | $229.0M | ||
| Q4 24 | $-12.9M | $256.8M | ||
| Q3 24 | $6.5M | $201.0M | ||
| Q2 24 | $7.5M | $215.2M | ||
| Q1 24 | $9.1M | $223.9M |
| Q4 25 | — | $327.7M | ||
| Q3 25 | $99.6M | $372.8M | ||
| Q2 25 | $99.2M | $313.5M | ||
| Q1 25 | — | $327.3M | ||
| Q4 24 | $115.3M | $351.2M | ||
| Q3 24 | $142.9M | $217.6M | ||
| Q2 24 | $141.3M | $222.0M | ||
| Q1 24 | $142.4M | $227.6M |
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | 5.93× | — | ||
| Q2 24 | 5.38× | — | ||
| Q1 24 | 4.23× | — |
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 | $1.3M | $-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.
| Q4 25 | — | $-43.5M | ||
| Q3 25 | $1.3M | $-47.0M | ||
| Q2 25 | — | $-39.6M | ||
| Q1 25 | — | $-40.7M | ||
| Q4 24 | $1.6M | $42.0M | ||
| Q3 24 | $5.2M | $-14.5M | ||
| Q2 24 | $-5.4M | $-7.3M | ||
| Q1 24 | $-1.9M | $-6.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-47.2M | ||
| Q2 25 | — | $-39.6M | ||
| Q1 25 | — | $-40.8M | ||
| Q4 24 | — | $41.7M | ||
| Q3 24 | — | $-14.6M | ||
| Q2 24 | — | $-7.3M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | -145.4% | ||
| Q2 25 | — | -252.2% | ||
| Q1 25 | — | -512.1% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | -706.3% | ||
| Q2 24 | — | -1463.4% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | — |
| 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
BOXL
| Products | $27.4M | 93% |
| Services | $2.0M | 7% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
