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Side-by-side financial comparison of CPI AEROSTRUCTURES INC (CVU) 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 $19.4M, roughly 1.4× CPI AEROSTRUCTURES INC). CPI AEROSTRUCTURES INC runs the higher net margin — 3.6% vs -147.1%, a 150.7% gap on every dollar of revenue. On growth, CPI AEROSTRUCTURES INC posted the faster year-over-year revenue change (-10.8% vs -67.6%).
CPI Aerostructures Inc., known as CPI Aero, is a contract aircraft component manufacturer based in Edgewood, New York.
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.
CVU vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $19.4M | $28.1M |
| Net Profit | $691.8K | $-41.3M |
| Gross Margin | 20.3% | — |
| Operating Margin | 6.4% | -147.6% |
| Net Margin | 3.6% | -147.1% |
| Revenue YoY | -10.8% | -67.6% |
| Net Profit YoY | -28.8% | -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 | $19.4M | $28.1M | ||
| Q3 25 | $19.3M | $32.5M | ||
| Q2 25 | $15.2M | $15.7M | ||
| Q1 25 | $15.4M | $8.0M | ||
| Q4 24 | $21.8M | $86.6M | ||
| Q3 24 | $19.4M | $2.1M | ||
| Q2 24 | $20.8M | $500.0K | ||
| Q1 24 | $19.1M | $0 |
| Q4 25 | $691.8K | $-41.3M | ||
| Q3 25 | $1.1M | $-51.2M | ||
| Q2 25 | $-1.3M | $-44.9M | ||
| Q1 25 | $-1.3M | $-33.9M | ||
| Q4 24 | $971.5K | $49.9M | ||
| Q3 24 | $749.7K | $-19.1M | ||
| Q2 24 | $1.4M | $-12.5M | ||
| Q1 24 | $168.2K | $-10.3M |
| Q4 25 | 20.3% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 20.0% | — | ||
| Q3 24 | 21.7% | — | ||
| Q2 24 | 24.6% | — | ||
| Q1 24 | 18.6% | — |
| Q4 25 | 6.4% | -147.6% | ||
| Q3 25 | 9.1% | -163.7% | ||
| Q2 25 | -13.1% | -302.9% | ||
| Q1 25 | -7.7% | -466.3% | ||
| Q4 24 | 9.5% | 54.5% | ||
| Q3 24 | 7.6% | -1051.6% | ||
| Q2 24 | 11.2% | -3068.0% | ||
| Q1 24 | 4.4% | — |
| Q4 25 | 3.6% | -147.1% | ||
| Q3 25 | 5.8% | -157.4% | ||
| Q2 25 | -8.7% | -285.6% | ||
| Q1 25 | -8.6% | -425.7% | ||
| Q4 24 | 4.5% | 57.7% | ||
| Q3 24 | 3.9% | -925.0% | ||
| Q2 24 | 6.8% | -2503.2% | ||
| Q1 24 | 0.9% | — |
| Q4 25 | $0.04 | $-0.41 | ||
| Q3 25 | $0.09 | $-0.52 | ||
| Q2 25 | $-0.10 | $-0.46 | ||
| Q1 25 | $-0.10 | $-0.35 | ||
| Q4 24 | $0.08 | $0.52 | ||
| Q3 24 | $0.06 | $-0.20 | ||
| Q2 24 | $0.11 | $-0.13 | ||
| Q1 24 | $0.01 | $-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 | $0 | $96.4M |
| Stockholders' EquityBook value | $25.8M | $114.3M |
| Total Assets | $75.2M | $327.7M |
| Debt / EquityLower = less leverage | 0.00× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | — | $288.2M | ||
| Q2 25 | — | $240.1M | ||
| Q1 25 | — | $275.7M | ||
| Q4 24 | — | $314.0M | ||
| Q3 24 | — | $204.6M | ||
| Q2 24 | — | $218.7M | ||
| Q1 24 | — | $223.6M |
| Q4 25 | $0 | $96.4M | ||
| Q3 25 | — | $96.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $26.5K | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $25.8M | $114.3M | ||
| Q3 25 | $25.0M | $147.7M | ||
| Q2 25 | $23.8M | $192.3M | ||
| Q1 25 | $24.9M | $229.0M | ||
| Q4 24 | $25.9M | $256.8M | ||
| Q3 24 | $24.9M | $201.0M | ||
| Q2 24 | $24.1M | $215.2M | ||
| Q1 24 | $22.5M | $223.9M |
| Q4 25 | $75.2M | $327.7M | ||
| Q3 25 | $74.1M | $372.8M | ||
| Q2 25 | $72.3M | $313.5M | ||
| Q1 25 | $65.4M | $327.3M | ||
| Q4 24 | $68.0M | $351.2M | ||
| Q3 24 | $68.9M | $217.6M | ||
| Q2 24 | $70.2M | $222.0M | ||
| Q1 24 | $70.8M | $227.6M |
| Q4 25 | 0.00× | 0.84× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | 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 | $-2.1M | $-43.5M |
| Free Cash FlowOCF − Capex | $-2.1M | — |
| FCF MarginFCF / Revenue | -10.8% | — |
| Capex IntensityCapex / Revenue | 0.0% | 0.0% |
| Cash ConversionOCF / Net Profit | -3.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.1M | $-43.5M | ||
| Q3 25 | $212.1K | $-47.0M | ||
| Q2 25 | $-596.3K | $-39.6M | ||
| Q1 25 | $-2.7M | $-40.7M | ||
| Q4 24 | $4.4M | $42.0M | ||
| Q3 24 | $715.1K | $-14.5M | ||
| Q2 24 | $-591.7K | $-7.3M | ||
| Q1 24 | $-960.5K | $-6.7M |
| Q4 25 | $-2.1M | — | ||
| Q3 25 | $211.1K | $-47.2M | ||
| Q2 25 | $-599.8K | $-39.6M | ||
| Q1 25 | $-2.8M | $-40.8M | ||
| Q4 24 | $4.3M | $41.7M | ||
| Q3 24 | $586.9K | $-14.6M | ||
| Q2 24 | $-746.9K | $-7.3M | ||
| Q1 24 | $-1.0M | $-6.8M |
| Q4 25 | -10.8% | — | ||
| Q3 25 | 1.1% | -145.4% | ||
| Q2 25 | -4.0% | -252.2% | ||
| Q1 25 | -18.1% | -512.1% | ||
| Q4 24 | 19.9% | 48.2% | ||
| Q3 24 | 3.0% | -706.3% | ||
| Q2 24 | -3.6% | -1463.4% | ||
| Q1 24 | -5.3% | — |
| Q4 25 | 0.0% | 0.0% | ||
| Q3 25 | 0.0% | 0.6% | ||
| Q2 25 | 0.0% | 0.3% | ||
| Q1 25 | 0.4% | 1.1% | ||
| Q4 24 | 0.3% | 0.3% | ||
| Q3 24 | 0.7% | 6.8% | ||
| Q2 24 | 0.7% | 7.6% | ||
| Q1 24 | 0.2% | — |
| Q4 25 | -3.03× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.53× | 0.84× | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | -0.42× | — | ||
| Q1 24 | -5.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVU
| Government Subcontracts | $16.4M | 85% |
| Commercial Contracts | $2.3M | 12% |
| Prime Government Contracts | $725.8K | 4% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
