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Side-by-side financial comparison of GAIA, INC (GAIA) 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 $25.5M, roughly 1.1× GAIA, INC). GAIA, INC runs the higher net margin — -0.3% vs -147.1%, a 146.8% gap on every dollar of revenue. On growth, GAIA, INC posted the faster year-over-year revenue change (5.8% vs -67.6%).
Gaia, Inc. is a publicly traded (NASDAQ:GAIA) American media company founded in 1988 by Jirka Rysavy in Louisville, Colorado. It owns and operates Gaia TV, a subscription video on-demand service consisting of original and licensed alternative media documentaries, including those on wellness, spirituality and conspiracy theories.
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.
GAIA vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.5M | $28.1M |
| Net Profit | $-75.0K | $-41.3M |
| Gross Margin | 87.6% | — |
| Operating Margin | -2.6% | -147.6% |
| Net Margin | -0.3% | -147.1% |
| Revenue YoY | 5.8% | -67.6% |
| Net Profit YoY | 91.7% | -182.8% |
| EPS (diluted) | $-0.02 | $-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 | $25.5M | $28.1M | ||
| Q3 25 | $25.0M | $32.5M | ||
| Q2 25 | $24.6M | $15.7M | ||
| Q1 25 | $23.8M | $8.0M | ||
| Q4 24 | $24.1M | $86.6M | ||
| Q3 24 | $22.0M | $2.1M | ||
| Q2 24 | $21.9M | $500.0K | ||
| Q1 24 | $21.3M | $0 |
| Q4 25 | $-75.0K | $-41.3M | ||
| Q3 25 | $-1.2M | $-51.2M | ||
| Q2 25 | $-2.0M | $-44.9M | ||
| Q1 25 | $-1.2M | $-33.9M | ||
| Q4 24 | $-907.0K | $49.9M | ||
| Q3 24 | $-1.2M | $-19.1M | ||
| Q2 24 | $-2.2M | $-12.5M | ||
| Q1 24 | $-971.0K | $-10.3M |
| Q4 25 | 87.6% | — | ||
| Q3 25 | 86.4% | — | ||
| Q2 25 | 86.7% | — | ||
| Q1 25 | 87.7% | — | ||
| Q4 24 | 88.2% | — | ||
| Q3 24 | 86.1% | — | ||
| Q2 24 | 84.5% | — | ||
| Q1 24 | 85.3% | — |
| Q4 25 | -2.6% | -147.6% | ||
| Q3 25 | -5.0% | -163.7% | ||
| Q2 25 | -8.9% | -302.9% | ||
| Q1 25 | -4.3% | -466.3% | ||
| Q4 24 | -7.1% | 54.5% | ||
| Q3 24 | -5.3% | -1051.6% | ||
| Q2 24 | -9.1% | -3068.0% | ||
| Q1 24 | -4.0% | — |
| Q4 25 | -0.3% | -147.1% | ||
| Q3 25 | -4.6% | -157.4% | ||
| Q2 25 | -8.3% | -285.6% | ||
| Q1 25 | -5.1% | -425.7% | ||
| Q4 24 | -3.8% | 57.7% | ||
| Q3 24 | -5.4% | -925.0% | ||
| Q2 24 | -9.9% | -2503.2% | ||
| Q1 24 | -4.6% | — |
| Q4 25 | $-0.02 | $-0.41 | ||
| Q3 25 | $-0.05 | $-0.52 | ||
| Q2 25 | $-0.07 | $-0.46 | ||
| Q1 25 | $-0.04 | $-0.35 | ||
| Q4 24 | $-0.03 | $0.52 | ||
| Q3 24 | $-0.05 | $-0.20 | ||
| Q2 24 | $-0.09 | $-0.13 | ||
| Q1 24 | $-0.05 | $-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 | $13.5M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $87.9M | $114.3M |
| Total Assets | $154.6M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.5M | $245.0M | ||
| Q3 25 | $14.2M | $288.2M | ||
| Q2 25 | $13.9M | $240.1M | ||
| Q1 25 | $13.1M | $275.7M | ||
| Q4 24 | $5.9M | $314.0M | ||
| Q3 24 | $4.4M | $204.6M | ||
| Q2 24 | $5.5M | $218.7M | ||
| Q1 24 | $8.6M | $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 | $87.9M | $114.3M | ||
| Q3 25 | $86.3M | $147.7M | ||
| Q2 25 | $85.7M | $192.3M | ||
| Q1 25 | $87.0M | $229.0M | ||
| Q4 24 | $80.7M | $256.8M | ||
| Q3 24 | $81.2M | $201.0M | ||
| Q2 24 | $82.1M | $215.2M | ||
| Q1 24 | $84.8M | $223.9M |
| Q4 25 | $154.6M | $327.7M | ||
| Q3 25 | $151.1M | $372.8M | ||
| Q2 25 | $147.0M | $313.5M | ||
| Q1 25 | $148.5M | $327.3M | ||
| Q4 24 | $141.2M | $351.2M | ||
| Q3 24 | $139.6M | $217.6M | ||
| Q2 24 | $142.1M | $222.0M | ||
| Q1 24 | $133.8M | $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 | $1.8M | $-43.5M |
| Free Cash FlowOCF − Capex | $76.0K | — |
| FCF MarginFCF / Revenue | 0.3% | — |
| Capex IntensityCapex / Revenue | 6.6% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-377.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8M | $-43.5M | ||
| Q3 25 | $326.0K | $-47.0M | ||
| Q2 25 | $2.3M | $-39.6M | ||
| Q1 25 | $1.3M | $-40.7M | ||
| Q4 24 | $2.7M | $42.0M | ||
| Q3 24 | $409.0K | $-14.5M | ||
| Q2 24 | $-2.1M | $-7.3M | ||
| Q1 24 | $5.9M | $-6.7M |
| Q4 25 | $76.0K | — | ||
| Q3 25 | $-1.6M | $-47.2M | ||
| Q2 25 | $880.0K | $-39.6M | ||
| Q1 25 | $268.0K | $-40.8M | ||
| Q4 24 | $1.6M | $41.7M | ||
| Q3 24 | $-952.0K | $-14.6M | ||
| Q2 24 | $-3.5M | $-7.3M | ||
| Q1 24 | $4.9M | $-6.8M |
| Q4 25 | 0.3% | — | ||
| Q3 25 | -6.4% | -145.4% | ||
| Q2 25 | 3.6% | -252.2% | ||
| Q1 25 | 1.1% | -512.1% | ||
| Q4 24 | 6.5% | 48.2% | ||
| Q3 24 | -4.3% | -706.3% | ||
| Q2 24 | -16.1% | -1463.4% | ||
| Q1 24 | 22.8% | — |
| Q4 25 | 6.6% | 0.0% | ||
| Q3 25 | 7.7% | 0.6% | ||
| Q2 25 | 5.7% | 0.3% | ||
| Q1 25 | 4.3% | 1.1% | ||
| Q4 24 | 4.6% | 0.3% | ||
| Q3 24 | 6.2% | 6.8% | ||
| Q2 24 | 6.6% | 7.6% | ||
| Q1 24 | 5.0% | — |
| 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
GAIA
| US | $16.7M | 65% |
| Non Us | $8.8M | 35% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
