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Side-by-side financial comparison of Finwise Bancorp (FINW) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Finwise Bancorp is the larger business by last-quarter revenue ($42.7M vs $28.1M, roughly 1.5× ARS Pharmaceuticals, Inc.). Finwise Bancorp runs the higher net margin — 6.4% vs -147.1%, a 153.5% gap on every dollar of revenue.
Finwise Bancorp is a U.S.-based financial holding company that operates primarily through its community banking subsidiary. It offers a full suite of retail and commercial financial services, including deposit accounts, personal loans, mortgage products, small business financing, and wealth management solutions, serving local retail consumers and small to medium-sized business clients across its regional operating markets.
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.
FINW vs SPRY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $42.7M | $28.1M |
| Net Profit | $2.7M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | — | -147.6% |
| Net Margin | 6.4% | -147.1% |
| Revenue YoY | — | -67.6% |
| Net Profit YoY | — | -182.8% |
| EPS (diluted) | $0.20 | $-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.
| Q1 26 | $42.7M | — | ||
| Q4 25 | $46.9M | $28.1M | ||
| Q3 25 | $36.7M | $32.5M | ||
| Q2 25 | $25.1M | $15.7M | ||
| Q1 25 | $22.1M | $8.0M | ||
| Q4 24 | $21.1M | $86.6M | ||
| Q3 24 | $20.8M | $2.1M | ||
| Q2 24 | $19.8M | $500.0K |
| Q1 26 | $2.7M | — | ||
| Q4 25 | $3.9M | $-41.3M | ||
| Q3 25 | $4.9M | $-51.2M | ||
| Q2 25 | $4.1M | $-44.9M | ||
| Q1 25 | $3.2M | $-33.9M | ||
| Q4 24 | $2.8M | $49.9M | ||
| Q3 24 | $3.5M | $-19.1M | ||
| Q2 24 | $3.2M | $-12.5M |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | -147.6% | ||
| Q3 25 | 17.5% | -163.7% | ||
| Q2 25 | 21.7% | -302.9% | ||
| Q1 25 | 20.1% | -466.3% | ||
| Q4 24 | 17.5% | 54.5% | ||
| Q3 24 | 22.2% | -1051.6% | ||
| Q2 24 | 21.1% | -3068.0% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 8.4% | -147.1% | ||
| Q3 25 | 13.3% | -157.4% | ||
| Q2 25 | 16.3% | -285.6% | ||
| Q1 25 | 14.4% | -425.7% | ||
| Q4 24 | 13.2% | 57.7% | ||
| Q3 24 | 16.6% | -925.0% | ||
| Q2 24 | 16.1% | -2503.2% |
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.27 | $-0.41 | ||
| Q3 25 | $0.34 | $-0.52 | ||
| Q2 25 | $0.29 | $-0.46 | ||
| Q1 25 | $0.23 | $-0.35 | ||
| Q4 24 | $0.19 | $0.52 | ||
| Q3 24 | $0.25 | $-0.20 | ||
| Q2 24 | $0.24 | $-0.13 |
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 | — | $96.4M |
| Stockholders' EquityBook value | $196.6M | $114.3M |
| Total Assets | $899.4M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $163.4M | $245.0M | ||
| Q3 25 | $105.6M | $288.2M | ||
| Q2 25 | $90.1M | $240.1M | ||
| Q1 25 | $120.3M | $275.7M | ||
| Q4 24 | $109.2M | $314.0M | ||
| Q3 24 | $85.8M | $204.6M | ||
| Q2 24 | $89.0M | $218.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $96.4M | ||
| Q3 25 | — | $96.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $196.6M | — | ||
| Q4 25 | $193.2M | $114.3M | ||
| Q3 25 | $187.8M | $147.7M | ||
| Q2 25 | $182.0M | $192.3M | ||
| Q1 25 | $177.4M | $229.0M | ||
| Q4 24 | $173.7M | $256.8M | ||
| Q3 24 | $170.4M | $201.0M | ||
| Q2 24 | $165.8M | $215.2M |
| Q1 26 | $899.4M | — | ||
| Q4 25 | $977.1M | $327.7M | ||
| Q3 25 | $899.9M | $372.8M | ||
| Q2 25 | $842.5M | $313.5M | ||
| Q1 25 | $804.1M | $327.3M | ||
| Q4 24 | $746.0M | $351.2M | ||
| Q3 24 | $683.0M | $217.6M | ||
| Q2 24 | $617.8M | $222.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-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.
| Q1 26 | — | — | ||
| Q4 25 | $-28.4M | $-43.5M | ||
| Q3 25 | $3.5M | $-47.0M | ||
| Q2 25 | $-18.3M | $-39.6M | ||
| Q1 25 | $-21.6M | $-40.7M | ||
| Q4 24 | $-15.0M | $42.0M | ||
| Q3 24 | $-9.8M | $-14.5M | ||
| Q2 24 | $-7.6M | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-28.6M | — | ||
| Q3 25 | $3.4M | $-47.2M | ||
| Q2 25 | $-19.8M | $-39.6M | ||
| Q1 25 | $-23.3M | $-40.8M | ||
| Q4 24 | $-16.1M | $41.7M | ||
| Q3 24 | $-13.4M | $-14.6M | ||
| Q2 24 | $-7.7M | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | -61.1% | — | ||
| Q3 25 | 9.4% | -145.4% | ||
| Q2 25 | -79.0% | -252.2% | ||
| Q1 25 | -105.3% | -512.1% | ||
| Q4 24 | -76.0% | 48.2% | ||
| Q3 24 | -64.3% | -706.3% | ||
| Q2 24 | -38.7% | -1463.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.0% | ||
| Q3 25 | 0.1% | 0.6% | ||
| Q2 25 | 5.8% | 0.3% | ||
| Q1 25 | 7.4% | 1.1% | ||
| Q4 24 | 5.1% | 0.3% | ||
| Q3 24 | 17.2% | 6.8% | ||
| Q2 24 | 0.3% | 7.6% |
| Q1 26 | — | — | ||
| Q4 25 | -7.26× | — | ||
| Q3 25 | 0.71× | — | ||
| Q2 25 | -4.48× | — | ||
| Q1 25 | -6.78× | — | ||
| Q4 24 | -5.37× | 0.84× | ||
| Q3 24 | -2.84× | — | ||
| Q2 24 | -2.39× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FINW
| Net Interest Income | $28.1M | 66% |
| Noninterest Income | $14.6M | 34% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
