vs
Side-by-side financial comparison of Clearfield, Inc. (CLFD) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $28.1M, roughly 1.2× ARS Pharmaceuticals, Inc.). Clearfield, Inc. runs the higher net margin — -1.8% vs -147.1%, a 145.3% gap on every dollar of revenue. On growth, Clearfield, Inc. posted the faster year-over-year revenue change (-3.2% vs -67.6%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
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.
CLFD vs SPRY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $28.1M |
| Net Profit | $-614.0K | $-41.3M |
| Gross Margin | 33.2% | — |
| Operating Margin | -5.3% | -147.6% |
| Net Margin | -1.8% | -147.1% |
| Revenue YoY | -3.2% | -67.6% |
| Net Profit YoY | 67.8% | -182.8% |
| EPS (diluted) | $-0.04 | $-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 | $34.3M | $28.1M | ||
| Q3 25 | $23.4M | $32.5M | ||
| Q2 25 | $49.9M | $15.7M | ||
| Q1 25 | $47.2M | $8.0M | ||
| Q4 24 | $29.7M | $86.6M | ||
| Q3 24 | $5.6M | $2.1M | ||
| Q2 24 | $48.8M | $500.0K | ||
| Q1 24 | $36.9M | $0 |
| Q4 25 | $-614.0K | $-41.3M | ||
| Q3 25 | $-9.1M | $-51.2M | ||
| Q2 25 | $1.6M | $-44.9M | ||
| Q1 25 | $1.3M | $-33.9M | ||
| Q4 24 | $-1.9M | $49.9M | ||
| Q3 24 | — | $-19.1M | ||
| Q2 24 | $-447.0K | $-12.5M | ||
| Q1 24 | $-5.9M | $-10.3M |
| Q4 25 | 33.2% | — | ||
| Q3 25 | 53.2% | — | ||
| Q2 25 | 30.5% | — | ||
| Q1 25 | 30.1% | — | ||
| Q4 24 | 29.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 7.7% | — |
| Q4 25 | -5.3% | -147.6% | ||
| Q3 25 | 10.3% | -163.7% | ||
| Q2 25 | 3.0% | -302.9% | ||
| Q1 25 | 0.6% | -466.3% | ||
| Q4 24 | -6.9% | 54.5% | ||
| Q3 24 | — | -1051.6% | ||
| Q2 24 | -4.7% | -3068.0% | ||
| Q1 24 | -26.4% | — |
| Q4 25 | -1.8% | -147.1% | ||
| Q3 25 | -38.8% | -157.4% | ||
| Q2 25 | 3.2% | -285.6% | ||
| Q1 25 | 2.8% | -425.7% | ||
| Q4 24 | -6.4% | 57.7% | ||
| Q3 24 | — | -925.0% | ||
| Q2 24 | -0.9% | -2503.2% | ||
| Q1 24 | -16.0% | — |
| Q4 25 | $-0.04 | $-0.41 | ||
| Q3 25 | $-0.65 | $-0.52 | ||
| Q2 25 | $0.11 | $-0.46 | ||
| Q1 25 | $0.09 | $-0.35 | ||
| Q4 24 | $-0.13 | $0.52 | ||
| Q3 24 | — | $-0.20 | ||
| Q2 24 | $-0.04 | $-0.13 | ||
| Q1 24 | $-0.40 | $-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 | $96.4M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $249.7M | $114.3M |
| Total Assets | $268.1M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | $245.0M | ||
| Q3 25 | $106.0M | $288.2M | ||
| Q2 25 | $117.2M | $240.1M | ||
| Q1 25 | $112.0M | $275.7M | ||
| Q4 24 | $113.0M | $314.0M | ||
| Q3 24 | $129.0M | $204.6M | ||
| Q2 24 | $123.8M | $218.7M | ||
| Q1 24 | $142.9M | $223.6M |
| Q4 25 | — | $96.4M | ||
| Q3 25 | — | $96.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | $2.2M | — | ||
| Q2 24 | $2.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | $249.7M | $114.3M | ||
| Q3 25 | $256.2M | $147.7M | ||
| Q2 25 | $264.5M | $192.3M | ||
| Q1 25 | $265.9M | $229.0M | ||
| Q4 24 | $267.4M | $256.8M | ||
| Q3 24 | $275.8M | $201.0M | ||
| Q2 24 | $274.6M | $215.2M | ||
| Q1 24 | $279.2M | $223.9M |
| Q4 25 | $268.1M | $327.7M | ||
| Q3 25 | $306.2M | $372.8M | ||
| Q2 25 | $314.7M | $313.5M | ||
| Q1 25 | $310.9M | $327.3M | ||
| Q4 24 | $303.2M | $351.2M | ||
| Q3 24 | $315.3M | $217.6M | ||
| Q2 24 | $318.1M | $222.0M | ||
| Q1 24 | $315.4M | $227.6M |
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | — | ||
| 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 | $-1.4M | $-43.5M |
| Free Cash FlowOCF − Capex | $-2.4M | — |
| FCF MarginFCF / Revenue | -7.1% | — |
| Capex IntensityCapex / Revenue | 2.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $-43.5M | ||
| Q3 25 | — | $-47.0M | ||
| Q2 25 | $7.9M | $-39.6M | ||
| Q1 25 | $3.0M | $-40.7M | ||
| Q4 24 | $7.2M | $42.0M | ||
| Q3 24 | $22.2M | $-14.5M | ||
| Q2 24 | $4.0M | $-7.3M | ||
| Q1 24 | $-5.7M | $-6.7M |
| Q4 25 | $-2.4M | — | ||
| Q3 25 | — | $-47.2M | ||
| Q2 25 | $7.5M | $-39.6M | ||
| Q1 25 | $654.0K | $-40.8M | ||
| Q4 24 | $5.1M | $41.7M | ||
| Q3 24 | $18.2M | $-14.6M | ||
| Q2 24 | $2.8M | $-7.3M | ||
| Q1 24 | $-7.7M | $-6.8M |
| Q4 25 | -7.1% | — | ||
| Q3 25 | — | -145.4% | ||
| Q2 25 | 15.1% | -252.2% | ||
| Q1 25 | 1.4% | -512.1% | ||
| Q4 24 | 17.1% | 48.2% | ||
| Q3 24 | 323.0% | -706.3% | ||
| Q2 24 | 5.8% | -1463.4% | ||
| Q1 24 | -20.8% | — |
| Q4 25 | 2.9% | 0.0% | ||
| Q3 25 | 2.0% | 0.6% | ||
| Q2 25 | 0.8% | 0.3% | ||
| Q1 25 | 5.1% | 1.1% | ||
| Q4 24 | 7.0% | 0.3% | ||
| Q3 24 | 71.4% | 6.8% | ||
| Q2 24 | 2.5% | 7.6% | ||
| Q1 24 | 5.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.93× | — | ||
| Q1 25 | 2.30× | — | ||
| 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
CLFD
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
