vs
Side-by-side financial comparison of Expensify, Inc. (EXFY) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Expensify, Inc. is the larger business by last-quarter revenue ($35.2M vs $28.1M, roughly 1.3× ARS Pharmaceuticals, Inc.). On growth, Expensify, Inc. posted the faster year-over-year revenue change (-4.9% vs -67.6%).
Expensify, Inc. is a software company that develops an expense management system for personal and business use. Expensify also offers a business credit card called the Expensify Card.
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.
EXFY vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $28.1M |
| Net Profit | — | $-41.3M |
| Gross Margin | 49.2% | — |
| Operating Margin | -11.2% | -147.6% |
| Net Margin | — | -147.1% |
| Revenue YoY | -4.9% | -67.6% |
| Net Profit YoY | — | -182.8% |
| EPS (diluted) | $-0.07 | $-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 | $35.2M | $28.1M | ||
| Q3 25 | $35.1M | $32.5M | ||
| Q2 25 | $35.8M | $15.7M | ||
| Q1 25 | $36.1M | $8.0M | ||
| Q4 24 | $37.0M | $86.6M | ||
| Q3 24 | $35.4M | $2.1M | ||
| Q2 24 | $33.3M | $500.0K | ||
| Q1 24 | $33.5M | $0 |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | $-2.3M | $-51.2M | ||
| Q2 25 | $-8.8M | $-44.9M | ||
| Q1 25 | $-3.2M | $-33.9M | ||
| Q4 24 | — | $49.9M | ||
| Q3 24 | $-2.2M | $-19.1M | ||
| Q2 24 | $-2.8M | $-12.5M | ||
| Q1 24 | $-3.8M | $-10.3M |
| Q4 25 | 49.2% | — | ||
| Q3 25 | 49.6% | — | ||
| Q2 25 | 51.9% | — | ||
| Q1 25 | 50.6% | — | ||
| Q4 24 | 51.0% | — | ||
| Q3 24 | 51.6% | — | ||
| Q2 24 | 56.9% | — | ||
| Q1 24 | 56.5% | — |
| Q4 25 | -11.2% | -147.6% | ||
| Q3 25 | -6.4% | -163.7% | ||
| Q2 25 | -28.9% | -302.9% | ||
| Q1 25 | -4.1% | -466.3% | ||
| Q4 24 | 1.3% | 54.5% | ||
| Q3 24 | 0.8% | -1051.6% | ||
| Q2 24 | 0.7% | -3068.0% | ||
| Q1 24 | -5.3% | — |
| Q4 25 | — | -147.1% | ||
| Q3 25 | -6.6% | -157.4% | ||
| Q2 25 | -24.6% | -285.6% | ||
| Q1 25 | -8.8% | -425.7% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -6.2% | -925.0% | ||
| Q2 24 | -8.3% | -2503.2% | ||
| Q1 24 | -11.3% | — |
| Q4 25 | $-0.07 | $-0.41 | ||
| Q3 25 | $-0.03 | $-0.52 | ||
| Q2 25 | $-0.10 | $-0.46 | ||
| Q1 25 | $-0.03 | $-0.35 | ||
| Q4 24 | $-0.03 | $0.52 | ||
| Q3 24 | $-0.02 | $-0.20 | ||
| Q2 24 | $-0.03 | $-0.13 | ||
| Q1 24 | $-0.04 | $-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 | $63.1M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $132.7M | $114.3M |
| Total Assets | $186.0M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.1M | $245.0M | ||
| Q3 25 | $61.5M | $288.2M | ||
| Q2 25 | $60.5M | $240.1M | ||
| Q1 25 | $59.6M | $275.7M | ||
| Q4 24 | $48.8M | $314.0M | ||
| Q3 24 | $39.2M | $204.6M | ||
| Q2 24 | $53.2M | $218.7M | ||
| Q1 24 | $49.3M | $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 | $132.7M | $114.3M | ||
| Q3 25 | $135.7M | $147.7M | ||
| Q2 25 | $131.8M | $192.3M | ||
| Q1 25 | $134.7M | $229.0M | ||
| Q4 24 | $128.2M | $256.8M | ||
| Q3 24 | $119.9M | $201.0M | ||
| Q2 24 | $114.0M | $215.2M | ||
| Q1 24 | $106.5M | $223.9M |
| Q4 25 | $186.0M | $327.7M | ||
| Q3 25 | $186.8M | $372.8M | ||
| Q2 25 | $187.1M | $313.5M | ||
| Q1 25 | $189.2M | $327.3M | ||
| Q4 24 | $173.7M | $351.2M | ||
| Q3 24 | $176.2M | $217.6M | ||
| Q2 24 | $192.9M | $222.0M | ||
| Q1 24 | $184.8M | $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 | $2.2M | $-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 | $2.2M | $-43.5M | ||
| Q3 25 | $4.2M | $-47.0M | ||
| Q2 25 | $8.9M | $-39.6M | ||
| Q1 25 | $4.8M | $-40.7M | ||
| Q4 24 | $7.4M | $42.0M | ||
| Q3 24 | $3.7M | $-14.5M | ||
| Q2 24 | $9.3M | $-7.3M | ||
| Q1 24 | $3.5M | $-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 | 0.0% | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 0.0% | 0.3% | ||
| Q3 24 | 0.0% | 6.8% | ||
| Q2 24 | 0.0% | 7.6% | ||
| Q1 24 | 0.0% | — |
| 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
EXFY
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
