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Side-by-side financial comparison of JOINT Corp (JYNT) 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 $15.2M, roughly 1.9× JOINT Corp). JOINT Corp runs the higher net margin — 6.5% vs -147.1%, a 153.7% gap on every dollar of revenue. On growth, JOINT Corp posted the faster year-over-year revenue change (3.1% vs -67.6%).
The Joint Corp is a leading operator and franchisor of chiropractic care clinics primarily serving the U.S. market. It offers accessible, affordable routine chiropractic services, membership-based care plans, and caters to consumers seeking non-invasive musculoskeletal pain management and wellness support.
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.
JYNT vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.2M | $28.1M |
| Net Profit | $991.1K | $-41.3M |
| Gross Margin | 81.4% | — |
| Operating Margin | 4.9% | -147.6% |
| Net Margin | 6.5% | -147.1% |
| Revenue YoY | 3.1% | -67.6% |
| Net Profit YoY | 5510.5% | -182.8% |
| EPS (diluted) | $0.06 | $-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 | $15.2M | $28.1M | ||
| Q3 25 | $13.4M | $32.5M | ||
| Q2 25 | $13.3M | $15.7M | ||
| Q1 25 | $13.1M | $8.0M | ||
| Q4 24 | $14.7M | $86.6M | ||
| Q3 24 | $30.2M | $2.1M | ||
| Q2 24 | $30.3M | $500.0K | ||
| Q1 24 | $29.7M | $0 |
| Q4 25 | $991.1K | $-41.3M | ||
| Q3 25 | $855.0K | $-51.2M | ||
| Q2 25 | $93.4K | $-44.9M | ||
| Q1 25 | $967.8K | $-33.9M | ||
| Q4 24 | $17.7K | $49.9M | ||
| Q3 24 | $-3.2M | $-19.1M | ||
| Q2 24 | $-3.6M | $-12.5M | ||
| Q1 24 | $947.0K | $-10.3M |
| Q4 25 | 81.4% | — | ||
| Q3 25 | 80.1% | — | ||
| Q2 25 | 79.1% | — | ||
| Q1 25 | 77.3% | — | ||
| Q4 24 | 78.4% | — | ||
| Q3 24 | 90.7% | — | ||
| Q2 24 | 90.7% | — | ||
| Q1 24 | 90.9% | — |
| Q4 25 | 4.9% | -147.6% | ||
| Q3 25 | 1.2% | -163.7% | ||
| Q2 25 | -8.6% | -302.9% | ||
| Q1 25 | -5.2% | -466.3% | ||
| Q4 24 | 5.5% | 54.5% | ||
| Q3 24 | -1.6% | -1051.6% | ||
| Q2 24 | -5.9% | -3068.0% | ||
| Q1 24 | -1.4% | — |
| Q4 25 | 6.5% | -147.1% | ||
| Q3 25 | 6.4% | -157.4% | ||
| Q2 25 | 0.7% | -285.6% | ||
| Q1 25 | 7.4% | -425.7% | ||
| Q4 24 | 0.1% | 57.7% | ||
| Q3 24 | -10.5% | -925.0% | ||
| Q2 24 | -11.9% | -2503.2% | ||
| Q1 24 | 3.2% | — |
| Q4 25 | $0.06 | $-0.41 | ||
| Q3 25 | $0.06 | $-0.52 | ||
| Q2 25 | $0.01 | $-0.46 | ||
| Q1 25 | $0.06 | $-0.35 | ||
| Q4 24 | $0.01 | $0.52 | ||
| Q3 24 | $-0.21 | $-0.20 | ||
| Q2 24 | $-0.24 | $-0.13 | ||
| Q1 24 | $0.06 | $-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 | $23.6M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $15.1M | $114.3M |
| Total Assets | $61.0M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.6M | $245.0M | ||
| Q3 25 | $29.7M | $288.2M | ||
| Q2 25 | $29.8M | $240.1M | ||
| Q1 25 | $21.9M | $275.7M | ||
| Q4 24 | $25.1M | $314.0M | ||
| Q3 24 | $20.7M | $204.6M | ||
| Q2 24 | $17.5M | $218.7M | ||
| Q1 24 | $18.7M | $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 | $15.1M | $114.3M | ||
| Q3 25 | $22.7M | $147.7M | ||
| Q2 25 | $23.2M | $192.3M | ||
| Q1 25 | $22.8M | $229.0M | ||
| Q4 24 | $20.7M | $256.8M | ||
| Q3 24 | $20.5M | $201.0M | ||
| Q2 24 | $23.2M | $215.2M | ||
| Q1 24 | $26.2M | $223.9M |
| Q4 25 | $61.0M | $327.7M | ||
| Q3 25 | $69.4M | $372.8M | ||
| Q2 25 | $73.2M | $313.5M | ||
| Q1 25 | $80.1M | $327.3M | ||
| Q4 24 | $83.2M | $351.2M | ||
| Q3 24 | $79.6M | $217.6M | ||
| Q2 24 | $82.4M | $222.0M | ||
| Q1 24 | $85.7M | $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 | $334.7K | — |
| FCF MarginFCF / Revenue | 2.2% | — |
| Capex IntensityCapex / Revenue | 9.9% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8M | $-43.5M | ||
| Q3 25 | $1.8M | $-47.0M | ||
| Q2 25 | $868.6K | $-39.6M | ||
| Q1 25 | $-3.7M | $-40.7M | ||
| Q4 24 | $9.4M | $42.0M | ||
| Q3 24 | $3.4M | $-14.5M | ||
| Q2 24 | $-973.5K | $-7.3M | ||
| Q1 24 | $2.8M | $-6.7M |
| Q4 25 | $334.7K | — | ||
| Q3 25 | $1.5M | $-47.2M | ||
| Q2 25 | $363.6K | $-39.6M | ||
| Q1 25 | $-4.0M | $-40.8M | ||
| Q4 24 | $8.2M | $41.7M | ||
| Q3 24 | $3.2M | $-14.6M | ||
| Q2 24 | $-1.2M | $-7.3M | ||
| Q1 24 | $2.4M | $-6.8M |
| Q4 25 | 2.2% | — | ||
| Q3 25 | 10.9% | -145.4% | ||
| Q2 25 | 2.7% | -252.2% | ||
| Q1 25 | -30.8% | -512.1% | ||
| Q4 24 | 55.9% | 48.2% | ||
| Q3 24 | 10.6% | -706.3% | ||
| Q2 24 | -4.1% | -1463.4% | ||
| Q1 24 | 8.1% | — |
| Q4 25 | 9.9% | 0.0% | ||
| Q3 25 | 2.4% | 0.6% | ||
| Q2 25 | 3.8% | 0.3% | ||
| Q1 25 | 2.5% | 1.1% | ||
| Q4 24 | 8.1% | 0.3% | ||
| Q3 24 | 0.8% | 6.8% | ||
| Q2 24 | 0.9% | 7.6% | ||
| Q1 24 | 1.3% | — |
| Q4 25 | 1.86× | — | ||
| Q3 25 | 2.07× | — | ||
| Q2 25 | 9.30× | — | ||
| Q1 25 | -3.82× | — | ||
| Q4 24 | 532.98× | 0.84× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JYNT
| Transferred At Point In Time | $12.8M | 84% |
| Transferred Over Time | $2.4M | 16% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
