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Side-by-side financial comparison of First Foundation Inc. (FFWM) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
First Foundation Inc. is the larger business by last-quarter revenue ($48.4M vs $28.1M, roughly 1.7× ARS Pharmaceuticals, Inc.). First Foundation Inc. runs the higher net margin — -97.9% vs -147.1%, a 49.3% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs -67.6%).
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
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.
FFWM vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $28.1M |
| Net Profit | $-8.0M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | -97.5% | -147.6% |
| Net Margin | -97.9% | -147.1% |
| Revenue YoY | 421.7% | -67.6% |
| Net Profit YoY | 43.0% | -182.8% |
| EPS (diluted) | $-0.09 | $-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 | $48.4M | $28.1M | ||
| Q3 25 | $63.6M | $32.5M | ||
| Q2 25 | $51.4M | $15.7M | ||
| Q1 25 | $71.4M | $8.0M | ||
| Q4 24 | $9.3M | $86.6M | ||
| Q3 24 | $9.2M | $2.1M | ||
| Q2 24 | $57.5M | $500.0K | ||
| Q1 24 | $51.1M | $0 |
| Q4 25 | $-8.0M | $-41.3M | ||
| Q3 25 | $-146.3M | $-51.2M | ||
| Q2 25 | $-7.7M | $-44.9M | ||
| Q1 25 | $6.9M | $-33.9M | ||
| Q4 24 | $-14.1M | $49.9M | ||
| Q3 24 | $-82.2M | $-19.1M | ||
| Q2 24 | $3.1M | $-12.5M | ||
| Q1 24 | $793.0K | $-10.3M |
| Q4 25 | -97.5% | -147.6% | ||
| Q3 25 | -92.7% | -163.7% | ||
| Q2 25 | -21.1% | -302.9% | ||
| Q1 25 | 8.8% | -466.3% | ||
| Q4 24 | -247.7% | 54.5% | ||
| Q3 24 | -1276.7% | -1051.6% | ||
| Q2 24 | 4.6% | -3068.0% | ||
| Q1 24 | -0.2% | — |
| Q4 25 | -97.9% | -147.1% | ||
| Q3 25 | -230.1% | -157.4% | ||
| Q2 25 | -15.0% | -285.6% | ||
| Q1 25 | 9.7% | -425.7% | ||
| Q4 24 | -152.2% | 57.7% | ||
| Q3 24 | -896.9% | -925.0% | ||
| Q2 24 | 5.4% | -2503.2% | ||
| Q1 24 | 1.6% | — |
| Q4 25 | $-0.09 | $-0.41 | ||
| Q3 25 | $-1.78 | $-0.52 | ||
| Q2 25 | $-0.09 | $-0.46 | ||
| Q1 25 | $0.08 | $-0.35 | ||
| Q4 24 | $-0.24 | $0.52 | ||
| Q3 24 | $-1.23 | $-0.20 | ||
| Q2 24 | $0.05 | $-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 | $1.6B | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $912.6M | $114.3M |
| Total Assets | $11.9B | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $245.0M | ||
| Q3 25 | $1.7B | $288.2M | ||
| Q2 25 | $1.1B | $240.1M | ||
| Q1 25 | $1.0B | $275.7M | ||
| Q4 24 | $1.0B | $314.0M | ||
| Q3 24 | $1.1B | $204.6M | ||
| Q2 24 | $1.4B | $218.7M | ||
| Q1 24 | $1.6B | $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 | $912.6M | $114.3M | ||
| Q3 25 | $917.9M | $147.7M | ||
| Q2 25 | $1.1B | $192.3M | ||
| Q1 25 | $1.1B | $229.0M | ||
| Q4 24 | $1.1B | $256.8M | ||
| Q3 24 | $1.1B | $201.0M | ||
| Q2 24 | $933.2M | $215.2M | ||
| Q1 24 | $928.7M | $223.9M |
| Q4 25 | $11.9B | $327.7M | ||
| Q3 25 | $11.9B | $372.8M | ||
| Q2 25 | $11.6B | $313.5M | ||
| Q1 25 | $12.6B | $327.3M | ||
| Q4 24 | $12.6B | $351.2M | ||
| Q3 24 | $13.4B | $217.6M | ||
| Q2 24 | $13.7B | $222.0M | ||
| Q1 24 | $13.6B | $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 | $-31.9M | $-43.5M |
| Free Cash FlowOCF − Capex | $-35.2M | — |
| FCF MarginFCF / Revenue | -72.8% | — |
| Capex IntensityCapex / Revenue | 6.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.9M | $-43.5M | ||
| Q3 25 | $9.2M | $-47.0M | ||
| Q2 25 | $-16.3M | $-39.6M | ||
| Q1 25 | $-552.0K | $-40.7M | ||
| Q4 24 | $-8.7M | $42.0M | ||
| Q3 24 | $14.2M | $-14.5M | ||
| Q2 24 | $-9.1M | $-7.3M | ||
| Q1 24 | $7.2M | $-6.7M |
| Q4 25 | $-35.2M | — | ||
| Q3 25 | $8.6M | $-47.2M | ||
| Q2 25 | $-16.7M | $-39.6M | ||
| Q1 25 | $-2.5M | $-40.8M | ||
| Q4 24 | $-11.4M | $41.7M | ||
| Q3 24 | $13.4M | $-14.6M | ||
| Q2 24 | $-9.4M | $-7.3M | ||
| Q1 24 | $5.9M | $-6.8M |
| Q4 25 | -72.8% | — | ||
| Q3 25 | 13.5% | -145.4% | ||
| Q2 25 | -32.4% | -252.2% | ||
| Q1 25 | -3.5% | -512.1% | ||
| Q4 24 | -123.5% | 48.2% | ||
| Q3 24 | 146.2% | -706.3% | ||
| Q2 24 | -16.3% | -1463.4% | ||
| Q1 24 | 11.6% | — |
| Q4 25 | 6.9% | 0.0% | ||
| Q3 25 | 1.0% | 0.6% | ||
| Q2 25 | 0.8% | 0.3% | ||
| Q1 25 | 2.8% | 1.1% | ||
| Q4 24 | 29.4% | 0.3% | ||
| Q3 24 | 9.0% | 6.8% | ||
| Q2 24 | 0.4% | 7.6% | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | — | ||
| Q2 24 | -2.96× | — | ||
| Q1 24 | 9.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFWM
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
