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Side-by-side financial comparison of i-80 Gold Corp. (IAUX) 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 $21.3M, roughly 1.3× i-80 Gold Corp.). ARS Pharmaceuticals, Inc. runs the higher net margin — -147.1% vs -401.9%, a 254.8% gap on every dollar of revenue.
i-80 Gold Corp is a mineral exploration and development firm focused on gold and silver asset operations in Nevada, US. It advances high-potential mining projects, using responsible extraction practices to deliver precious metals to global industrial and investment 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.
IAUX vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $28.1M |
| Net Profit | $-85.6M | $-41.3M |
| Gross Margin | 22.0% | — |
| Operating Margin | -291.6% | -147.6% |
| Net Margin | -401.9% | -147.1% |
| Revenue YoY | — | -67.6% |
| Net Profit YoY | — | -182.8% |
| EPS (diluted) | $-0.10 | $-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 | $21.3M | $28.1M | ||
| Q3 25 | $32.0M | $32.5M | ||
| Q2 25 | $27.8M | $15.7M | ||
| Q1 25 | $14.0M | $8.0M | ||
| Q4 24 | — | $86.6M | ||
| Q3 24 | $11.5M | $2.1M | ||
| Q2 24 | $7.2M | $500.0K | ||
| Q1 24 | — | $0 |
| Q4 25 | $-85.6M | $-41.3M | ||
| Q3 25 | $-41.9M | $-51.2M | ||
| Q2 25 | $-30.2M | $-44.9M | ||
| Q1 25 | $-41.2M | $-33.9M | ||
| Q4 24 | — | $49.9M | ||
| Q3 24 | $-43.1M | $-19.1M | ||
| Q2 24 | $-41.0M | $-12.5M | ||
| Q1 24 | — | $-10.3M |
| Q4 25 | 22.0% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -42.7% | — | ||
| Q2 24 | -171.4% | — | ||
| Q1 24 | — | — |
| Q4 25 | -291.6% | -147.6% | ||
| Q3 25 | -86.7% | -163.7% | ||
| Q2 25 | -67.4% | -302.9% | ||
| Q1 25 | -112.3% | -466.3% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | -210.0% | -1051.6% | ||
| Q2 24 | -435.2% | -3068.0% | ||
| Q1 24 | — | — |
| Q4 25 | -401.9% | -147.1% | ||
| Q3 25 | -130.8% | -157.4% | ||
| Q2 25 | -108.5% | -285.6% | ||
| Q1 25 | -293.3% | -425.7% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -374.5% | -925.0% | ||
| Q2 24 | -570.8% | -2503.2% | ||
| Q1 24 | — | — |
| Q4 25 | $-0.10 | $-0.41 | ||
| Q3 25 | $-0.05 | $-0.52 | ||
| Q2 25 | $-0.05 | $-0.46 | ||
| Q1 25 | $-0.10 | $-0.35 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | $-0.11 | $-0.20 | ||
| Q2 24 | $-0.11 | $-0.13 | ||
| Q1 24 | — | $-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 | $63.2M | $245.0M |
| Total DebtLower is stronger | $174.7M | $96.4M |
| Stockholders' EquityBook value | $346.8M | $114.3M |
| Total Assets | $703.4M | $327.7M |
| Debt / EquityLower = less leverage | 0.50× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.2M | $245.0M | ||
| Q3 25 | $102.9M | $288.2M | ||
| Q2 25 | $133.7M | $240.1M | ||
| Q1 25 | $13.5M | $275.7M | ||
| Q4 24 | — | $314.0M | ||
| Q3 24 | $21.8M | $204.6M | ||
| Q2 24 | $47.8M | $218.7M | ||
| Q1 24 | — | $223.6M |
| Q4 25 | $174.7M | $96.4M | ||
| Q3 25 | $175.9M | $96.2M | ||
| Q2 25 | $175.8M | — | ||
| Q1 25 | $197.5M | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $346.8M | $114.3M | ||
| Q3 25 | $423.0M | $147.7M | ||
| Q2 25 | $463.5M | $192.3M | ||
| Q1 25 | $318.0M | $229.0M | ||
| Q4 24 | — | $256.8M | ||
| Q3 24 | $346.9M | $201.0M | ||
| Q2 24 | $377.2M | $215.2M | ||
| Q1 24 | — | $223.9M |
| Q4 25 | $703.4M | $327.7M | ||
| Q3 25 | $756.2M | $372.8M | ||
| Q2 25 | $782.9M | $313.5M | ||
| Q1 25 | $659.0M | $327.3M | ||
| Q4 24 | — | $351.2M | ||
| Q3 24 | — | $217.6M | ||
| Q2 24 | — | $222.0M | ||
| Q1 24 | — | $227.6M |
| Q4 25 | 0.50× | 0.84× | ||
| Q3 25 | 0.42× | 0.65× | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.62× | — | ||
| 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 | $-34.3M | $-43.5M |
| Free Cash FlowOCF − Capex | $-39.2M | — |
| FCF MarginFCF / Revenue | -184.3% | — |
| Capex IntensityCapex / Revenue | 23.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.3M | $-43.5M | ||
| Q3 25 | $-15.2M | $-47.0M | ||
| Q2 25 | $-11.3M | $-39.6M | ||
| Q1 25 | $-22.7M | $-40.7M | ||
| Q4 24 | — | $42.0M | ||
| Q3 24 | $-23.5M | $-14.5M | ||
| Q2 24 | $-24.6M | $-7.3M | ||
| Q1 24 | — | $-6.7M |
| Q4 25 | $-39.2M | — | ||
| Q3 25 | $-18.5M | $-47.2M | ||
| Q2 25 | $-12.4M | $-39.6M | ||
| Q1 25 | $-23.1M | $-40.8M | ||
| Q4 24 | — | $41.7M | ||
| Q3 24 | $-23.8M | $-14.6M | ||
| Q2 24 | $-25.1M | $-7.3M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | -184.3% | — | ||
| Q3 25 | -57.8% | -145.4% | ||
| Q2 25 | -44.7% | -252.2% | ||
| Q1 25 | -164.1% | -512.1% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | -206.7% | -706.3% | ||
| Q2 24 | -349.1% | -1463.4% | ||
| Q1 24 | — | — |
| Q4 25 | 23.1% | 0.0% | ||
| Q3 25 | 10.2% | 0.6% | ||
| Q2 25 | 3.9% | 0.3% | ||
| Q1 25 | 2.5% | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 2.5% | 6.8% | ||
| Q2 24 | 7.3% | 7.6% | ||
| Q1 24 | — | — |
| 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
IAUX
| Granite Creek Mining Company | $20.3M | 95% |
| Ruby Hill Mining Company LLC | $991.0K | 5% |
| Lone Tree Minning Company | $3.0K | 0% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
