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Side-by-side financial comparison of GERON CORP (GERN) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
GERON CORP is the larger business by last-quarter revenue ($47.2M vs $28.1M, roughly 1.7× ARS Pharmaceuticals, Inc.). GERON CORP runs the higher net margin — -39.0% vs -147.1%, a 108.1% gap on every dollar of revenue. On growth, GERON CORP posted the faster year-over-year revenue change (67.1% vs -67.6%).
Geron Corporation is a biotechnology company located in Foster City, California which specializes in developing and commercializing therapeutic products for cancer that inhibit telomerase.
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.
GERN vs SPRY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.2M | $28.1M |
| Net Profit | $-18.4M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | -29.4% | -147.6% |
| Net Margin | -39.0% | -147.1% |
| Revenue YoY | 67.1% | -67.6% |
| Net Profit YoY | 30.3% | -182.8% |
| EPS (diluted) | $-0.03 | $-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 | — | $28.1M | ||
| Q3 25 | $47.2M | $32.5M | ||
| Q2 25 | $49.0M | $15.7M | ||
| Q1 25 | $39.6M | $8.0M | ||
| Q4 24 | — | $86.6M | ||
| Q3 24 | $28.3M | $2.1M | ||
| Q2 24 | $882.0K | $500.0K | ||
| Q1 24 | $304.0K | $0 |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | $-18.4M | $-51.2M | ||
| Q2 25 | $-16.4M | $-44.9M | ||
| Q1 25 | $-19.8M | $-33.9M | ||
| Q4 24 | — | $49.9M | ||
| Q3 24 | $-26.4M | $-19.1M | ||
| Q2 24 | $-67.4M | $-12.5M | ||
| Q1 24 | $-55.4M | $-10.3M |
| Q4 25 | — | -147.6% | ||
| Q3 25 | -29.4% | -163.7% | ||
| Q2 25 | -25.4% | -302.9% | ||
| Q1 25 | -42.2% | -466.3% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | -99.8% | -1051.6% | ||
| Q2 24 | -7860.9% | -3068.0% | ||
| Q1 24 | -18465.1% | — |
| Q4 25 | — | -147.1% | ||
| Q3 25 | -39.0% | -157.4% | ||
| Q2 25 | -33.4% | -285.6% | ||
| Q1 25 | -50.1% | -425.7% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -93.5% | -925.0% | ||
| Q2 24 | -7639.8% | -2503.2% | ||
| Q1 24 | -18220.4% | — |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $-0.03 | $-0.52 | ||
| Q2 25 | $-0.02 | $-0.46 | ||
| Q1 25 | $-0.03 | $-0.35 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | $-0.04 | $-0.20 | ||
| Q2 24 | $-0.10 | $-0.13 | ||
| Q1 24 | $-0.09 | $-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 | $78.1M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $248.7M | $114.3M |
| Total Assets | $567.4M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | $78.1M | $288.2M | ||
| Q2 25 | $77.7M | $240.1M | ||
| Q1 25 | $83.7M | $275.7M | ||
| Q4 24 | — | $314.0M | ||
| Q3 24 | $60.3M | $204.6M | ||
| Q2 24 | $116.9M | $218.7M | ||
| Q1 24 | $189.8M | $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 | — | $114.3M | ||
| Q3 25 | $248.7M | $147.7M | ||
| Q2 25 | $259.5M | $192.3M | ||
| Q1 25 | $268.2M | $229.0M | ||
| Q4 24 | — | $256.8M | ||
| Q3 24 | $292.3M | $201.0M | ||
| Q2 24 | $306.7M | $215.2M | ||
| Q1 24 | $344.9M | $223.9M |
| Q4 25 | — | $327.7M | ||
| Q3 25 | $567.4M | $372.8M | ||
| Q2 25 | $555.2M | $313.5M | ||
| Q1 25 | $562.5M | $327.3M | ||
| Q4 24 | — | $351.2M | ||
| Q3 24 | $444.9M | $217.6M | ||
| Q2 24 | $449.4M | $222.0M | ||
| Q1 24 | $482.1M | $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 | $-13.6M | $-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 | — | $-43.5M | ||
| Q3 25 | $-13.6M | $-47.0M | ||
| Q2 25 | $-27.4M | $-39.6M | ||
| Q1 25 | $-48.0M | $-40.7M | ||
| Q4 24 | — | $42.0M | ||
| Q3 24 | $-58.9M | $-14.5M | ||
| Q2 24 | $-53.5M | $-7.3M | ||
| Q1 24 | $-62.3M | $-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 | $-53.7M | $-7.3M | ||
| Q1 24 | $-62.9M | $-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 | -6086.6% | -1463.4% | ||
| Q1 24 | -20680.3% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 0.0% | 6.8% | ||
| Q2 24 | 23.4% | 7.6% | ||
| Q1 24 | 202.3% | — |
| 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
GERN
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
