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Side-by-side financial comparison of John Marshall Bancorp, Inc. (JMSB) 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 $16.8M, roughly 1.7× John Marshall Bancorp, Inc.). John Marshall Bancorp, Inc. runs the higher net margin — 36.3% vs -147.1%, a 183.5% gap on every dollar of revenue.
John Marshall Bancorp, Inc. is a U.S.-based bank holding company that operates through its wholly owned subsidiary John Marshall Bank. It provides a full suite of commercial and consumer banking products including deposit accounts, commercial loans, residential mortgages, and personal financial services, primarily serving retail customers and small-to-mid-sized businesses across the U.S. Mid-Atlantic region.
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.
JMSB vs SPRY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.8M | $28.1M |
| Net Profit | $6.1M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | — | -147.6% |
| Net Margin | 36.3% | -147.1% |
| Revenue YoY | — | -67.6% |
| Net Profit YoY | 26.8% | -182.8% |
| EPS (diluted) | $0.43 | $-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 | $16.8M | — | ||
| Q4 25 | $16.4M | $28.1M | ||
| Q3 25 | $16.3M | $32.5M | ||
| Q2 25 | $15.4M | $15.7M | ||
| Q1 25 | $14.6M | $8.0M | ||
| Q4 24 | $14.3M | $86.6M | ||
| Q3 24 | $13.8M | $2.1M | ||
| Q2 24 | $12.6M | $500.0K |
| Q1 26 | $6.1M | — | ||
| Q4 25 | $5.9M | $-41.3M | ||
| Q3 25 | $5.4M | $-51.2M | ||
| Q2 25 | $5.1M | $-44.9M | ||
| Q1 25 | $4.8M | $-33.9M | ||
| Q4 24 | $4.8M | $49.9M | ||
| Q3 24 | $4.2M | $-19.1M | ||
| Q2 24 | $3.9M | $-12.5M |
| Q1 26 | — | — | ||
| Q4 25 | 47.4% | -147.6% | ||
| Q3 25 | 42.2% | -163.7% | ||
| Q2 25 | 42.7% | -302.9% | ||
| Q1 25 | 42.4% | -466.3% | ||
| Q4 24 | 42.5% | 54.5% | ||
| Q3 24 | 38.8% | -1051.6% | ||
| Q2 24 | 39.7% | -3068.0% |
| Q1 26 | 36.3% | — | ||
| Q4 25 | 36.2% | -147.1% | ||
| Q3 25 | 33.2% | -157.4% | ||
| Q2 25 | 33.1% | -285.6% | ||
| Q1 25 | 32.9% | -425.7% | ||
| Q4 24 | 33.3% | 57.7% | ||
| Q3 24 | 30.7% | -925.0% | ||
| Q2 24 | 30.9% | -2503.2% |
| Q1 26 | $0.43 | — | ||
| Q4 25 | $0.41 | $-0.41 | ||
| Q3 25 | $0.38 | $-0.52 | ||
| Q2 25 | $0.36 | $-0.46 | ||
| Q1 25 | $0.34 | $-0.35 | ||
| Q4 24 | $0.33 | $0.52 | ||
| Q3 24 | $0.30 | $-0.20 | ||
| Q2 24 | $0.27 | $-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 | $150.2M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $268.1M | $114.3M |
| Total Assets | $2.4B | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $150.2M | — | ||
| Q4 25 | $130.0M | $245.0M | ||
| Q3 25 | $163.6M | $288.2M | ||
| Q2 25 | $116.9M | $240.1M | ||
| Q1 25 | $169.1M | $275.7M | ||
| Q4 24 | $122.5M | $314.0M | ||
| Q3 24 | $177.2M | $204.6M | ||
| Q2 24 | $182.6M | $218.7M |
| Q1 26 | — | — | ||
| Q4 25 | $80.9M | $96.4M | ||
| Q3 25 | $80.9M | $96.2M | ||
| Q2 25 | $80.8M | — | ||
| Q1 25 | $80.8M | — | ||
| Q4 24 | $80.8M | $0 | ||
| Q3 24 | $80.8M | — | ||
| Q2 24 | $24.7M | — |
| Q1 26 | $268.1M | — | ||
| Q4 25 | $265.6M | $114.3M | ||
| Q3 25 | $259.7M | $147.7M | ||
| Q2 25 | $253.7M | $192.3M | ||
| Q1 25 | $253.0M | $229.0M | ||
| Q4 24 | $246.6M | $256.8M | ||
| Q3 24 | $243.1M | $201.0M | ||
| Q2 24 | $235.3M | $215.2M |
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.3B | $327.7M | ||
| Q3 25 | $2.3B | $372.8M | ||
| Q2 25 | $2.3B | $313.5M | ||
| Q1 25 | $2.3B | $327.3M | ||
| Q4 24 | $2.2B | $351.2M | ||
| Q3 24 | $2.3B | $217.6M | ||
| Q2 24 | $2.3B | $222.0M |
| Q1 26 | — | — | ||
| Q4 25 | 0.30× | 0.84× | ||
| Q3 25 | 0.31× | 0.65× | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.33× | 0.00× | ||
| Q3 24 | 0.33× | — | ||
| Q2 24 | 0.11× | — |
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 | $22.6M | $-43.5M | ||
| Q3 25 | $1.2M | $-47.0M | ||
| Q2 25 | $7.5M | $-39.6M | ||
| Q1 25 | $7.0M | $-40.7M | ||
| Q4 24 | $17.3M | $42.0M | ||
| Q3 24 | $1.4M | $-14.5M | ||
| Q2 24 | $10.2M | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | $22.0M | — | ||
| Q3 25 | $1.2M | $-47.2M | ||
| Q2 25 | $7.4M | $-39.6M | ||
| Q1 25 | $6.6M | $-40.8M | ||
| Q4 24 | $16.8M | $41.7M | ||
| Q3 24 | $1.3M | $-14.6M | ||
| Q2 24 | $10.1M | $-7.3M |
| Q1 26 | — | — | ||
| Q4 25 | 134.7% | — | ||
| Q3 25 | 7.3% | -145.4% | ||
| Q2 25 | 47.8% | -252.2% | ||
| Q1 25 | 45.3% | -512.1% | ||
| Q4 24 | 116.9% | 48.2% | ||
| Q3 24 | 9.5% | -706.3% | ||
| Q2 24 | 80.1% | -1463.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 0.0% | ||
| Q3 25 | 0.2% | 0.6% | ||
| Q2 25 | 1.0% | 0.3% | ||
| Q1 25 | 2.3% | 1.1% | ||
| Q4 24 | 3.4% | 0.3% | ||
| Q3 24 | 0.8% | 6.8% | ||
| Q2 24 | 0.4% | 7.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.82× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | 3.61× | 0.84× | ||
| Q3 24 | 0.33× | — | ||
| Q2 24 | 2.60× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JMSB
| Net Interest Income | $16.5M | 98% |
| Noninterest Income | $284.0K | 2% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
