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Side-by-side financial comparison of Invesco Mortgage Capital Inc. (IVR) 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× Invesco Mortgage Capital Inc.). Invesco Mortgage Capital Inc. runs the higher net margin — 242.2% vs -147.1%, a 389.4% gap on every dollar of revenue. On growth, Invesco Mortgage Capital Inc. posted the faster year-over-year revenue change (55.4% vs -67.6%).
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
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.
IVR vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $28.1M |
| Net Profit | $51.5M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | — | -147.6% |
| Net Margin | 242.2% | -147.1% |
| Revenue YoY | 55.4% | -67.6% |
| Net Profit YoY | 1368.7% | -182.8% |
| EPS (diluted) | $0.72 | $-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 | $17.6M | $32.5M | ||
| Q2 25 | $17.7M | $15.7M | ||
| Q1 25 | $18.8M | $8.0M | ||
| Q4 24 | $13.7M | $86.6M | ||
| Q3 24 | $7.5M | $2.1M | ||
| Q2 24 | $8.6M | $500.0K | ||
| Q1 24 | $7.0M | $0 |
| Q4 25 | $51.5M | $-41.3M | ||
| Q3 25 | $53.5M | $-51.2M | ||
| Q2 25 | $-23.3M | $-44.9M | ||
| Q1 25 | $19.6M | $-33.9M | ||
| Q4 24 | $3.5M | $49.9M | ||
| Q3 24 | $40.7M | $-19.1M | ||
| Q2 24 | $-13.5M | $-12.5M | ||
| Q1 24 | $29.1M | $-10.3M |
| Q4 25 | — | -147.6% | ||
| Q3 25 | — | -163.7% | ||
| Q2 25 | — | -302.9% | ||
| Q1 25 | — | -466.3% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | — | -1051.6% | ||
| Q2 24 | — | -3068.0% | ||
| Q1 24 | — | — |
| Q4 25 | 242.2% | -147.1% | ||
| Q3 25 | 303.6% | -157.4% | ||
| Q2 25 | -131.6% | -285.6% | ||
| Q1 25 | 104.4% | -425.7% | ||
| Q4 24 | 25.6% | 57.7% | ||
| Q3 24 | 542.2% | -925.0% | ||
| Q2 24 | -155.9% | -2503.2% | ||
| Q1 24 | 415.9% | — |
| Q4 25 | $0.72 | $-0.41 | ||
| Q3 25 | $0.74 | $-0.52 | ||
| Q2 25 | $-0.40 | $-0.46 | ||
| Q1 25 | $0.26 | $-0.35 | ||
| Q4 24 | $-0.09 | $0.52 | ||
| Q3 24 | $0.63 | $-0.20 | ||
| Q2 24 | $-0.38 | $-0.13 | ||
| Q1 24 | $0.49 | $-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 | $56.0M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $797.5M | $114.3M |
| Total Assets | $6.5B | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $56.0M | $245.0M | ||
| Q3 25 | $58.5M | $288.2M | ||
| Q2 25 | $59.4M | $240.1M | ||
| Q1 25 | $42.9M | $275.7M | ||
| Q4 24 | $73.4M | $314.0M | ||
| Q3 24 | $48.3M | $204.6M | ||
| Q2 24 | $58.8M | $218.7M | ||
| Q1 24 | $59.9M | $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 | $797.5M | $114.3M | ||
| Q3 25 | $769.6M | $147.7M | ||
| Q2 25 | $709.4M | $192.3M | ||
| Q1 25 | $759.2M | $229.0M | ||
| Q4 24 | $730.7M | $256.8M | ||
| Q3 24 | $857.0M | $201.0M | ||
| Q2 24 | $759.2M | $215.2M | ||
| Q1 24 | $785.6M | $223.9M |
| Q4 25 | $6.5B | $327.7M | ||
| Q3 25 | $6.0B | $372.8M | ||
| Q2 25 | $5.4B | $313.5M | ||
| Q1 25 | $6.2B | $327.3M | ||
| Q4 24 | $5.7B | $351.2M | ||
| Q3 24 | $6.1B | $217.6M | ||
| Q2 24 | $5.1B | $222.0M | ||
| Q1 24 | $5.2B | $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 | $157.1M | $-43.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 3.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $-43.5M | ||
| Q3 25 | $37.3M | $-47.0M | ||
| Q2 25 | $40.6M | $-39.6M | ||
| Q1 25 | $19.3M | $-40.7M | ||
| Q4 24 | $183.2M | $42.0M | ||
| Q3 24 | $30.8M | $-14.5M | ||
| Q2 24 | $33.0M | $-7.3M | ||
| Q1 24 | $57.5M | $-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 | — | $-7.3M | ||
| Q1 24 | — | $-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 | — | -1463.4% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | — |
| Q4 25 | 3.05× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 52.24× | 0.84× | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IVR
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
