vs
Side-by-side financial comparison of Ladder Capital Corp (LADR) 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 $22.3M, roughly 1.3× Ladder Capital Corp). Ladder Capital Corp runs the higher net margin — 71.0% vs -147.1%, a 218.2% gap on every dollar of revenue. On growth, Ladder Capital Corp posted the faster year-over-year revenue change (-18.0% vs -67.6%).
Ladder Capital Corp is a leading commercial real estate finance firm operating primarily across the United States. It originates and manages a diversified portfolio of senior secured commercial mortgage loans, mezzanine debt, commercial mortgage-backed securities, and direct real estate assets, serving property owners, operators and developers across major market segments.
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.
LADR vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $28.1M |
| Net Profit | $15.9M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | 69.5% | -147.6% |
| Net Margin | 71.0% | -147.1% |
| Revenue YoY | -18.0% | -67.6% |
| Net Profit YoY | -49.4% | -182.8% |
| EPS (diluted) | $0.13 | $-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 | $22.3M | $28.1M | ||
| Q3 25 | $27.8M | $32.5M | ||
| Q2 25 | $21.5M | $15.7M | ||
| Q1 25 | $20.3M | $8.0M | ||
| Q4 24 | $27.2M | $86.6M | ||
| Q3 24 | $38.4M | $2.1M | ||
| Q2 24 | $34.3M | $500.0K | ||
| Q1 24 | $37.1M | $0 |
| Q4 25 | $15.9M | $-41.3M | ||
| Q3 25 | $19.2M | $-51.2M | ||
| Q2 25 | $17.1M | $-44.9M | ||
| Q1 25 | $11.6M | $-33.9M | ||
| Q4 24 | $31.3M | $49.9M | ||
| Q3 24 | $27.6M | $-19.1M | ||
| Q2 24 | $32.1M | $-12.5M | ||
| Q1 24 | $16.4M | $-10.3M |
| Q4 25 | 69.5% | -147.6% | ||
| Q3 25 | 72.4% | -163.7% | ||
| Q2 25 | 96.7% | -302.9% | ||
| Q1 25 | 52.7% | -466.3% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | 74.1% | -1051.6% | ||
| Q2 24 | 90.4% | -3068.0% | ||
| Q1 24 | 49.4% | — |
| Q4 25 | 71.0% | -147.1% | ||
| Q3 25 | 69.0% | -157.4% | ||
| Q2 25 | 79.5% | -285.6% | ||
| Q1 25 | 56.8% | -425.7% | ||
| Q4 24 | 115.1% | 57.7% | ||
| Q3 24 | 71.7% | -925.0% | ||
| Q2 24 | 93.6% | -2503.2% | ||
| Q1 24 | 44.2% | — |
| Q4 25 | $0.13 | $-0.41 | ||
| Q3 25 | $0.15 | $-0.52 | ||
| Q2 25 | $0.14 | $-0.46 | ||
| Q1 25 | $0.09 | $-0.35 | ||
| Q4 24 | $0.25 | $0.52 | ||
| Q3 24 | $0.22 | $-0.20 | ||
| Q2 24 | $0.26 | $-0.13 | ||
| Q1 24 | $0.13 | $-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 | $38.0M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $1.5B | $114.3M |
| Total Assets | $5.2B | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | $245.0M | ||
| Q3 25 | $49.4M | $288.2M | ||
| Q2 25 | $134.9M | $240.1M | ||
| Q1 25 | $479.8M | $275.7M | ||
| Q4 24 | $1.3B | $314.0M | ||
| Q3 24 | $1.6B | $204.6M | ||
| Q2 24 | $1.2B | $218.7M | ||
| Q1 24 | $1.2B | $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 | $1.5B | $114.3M | ||
| Q3 25 | $1.5B | $147.7M | ||
| Q2 25 | $1.5B | $192.3M | ||
| Q1 25 | $1.5B | $229.0M | ||
| Q4 24 | $1.5B | $256.8M | ||
| Q3 24 | $1.5B | $201.0M | ||
| Q2 24 | $1.5B | $215.2M | ||
| Q1 24 | $1.5B | $223.9M |
| Q4 25 | $5.2B | $327.7M | ||
| Q3 25 | $4.7B | $372.8M | ||
| Q2 25 | $4.5B | $313.5M | ||
| Q1 25 | $4.5B | $327.3M | ||
| Q4 24 | $4.8B | $351.2M | ||
| Q3 24 | $4.8B | $217.6M | ||
| Q2 24 | $4.8B | $222.0M | ||
| Q1 24 | $5.3B | $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 | $87.0M | $-43.5M |
| Free Cash FlowOCF − Capex | $78.7M | — |
| FCF MarginFCF / Revenue | 352.4% | — |
| Capex IntensityCapex / Revenue | 37.4% | 0.0% |
| Cash ConversionOCF / Net Profit | 5.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $-43.5M | ||
| Q3 25 | $26.3M | $-47.0M | ||
| Q2 25 | $44.0M | $-39.6M | ||
| Q1 25 | $-28.7M | $-40.7M | ||
| Q4 24 | $133.9M | $42.0M | ||
| Q3 24 | $169.0M | $-14.5M | ||
| Q2 24 | $45.4M | $-7.3M | ||
| Q1 24 | $-20.4M | $-6.7M |
| Q4 25 | $78.7M | — | ||
| Q3 25 | $25.9M | $-47.2M | ||
| Q2 25 | $43.4M | $-39.6M | ||
| Q1 25 | $-29.6M | $-40.8M | ||
| Q4 24 | $127.4M | $41.7M | ||
| Q3 24 | $166.0M | $-14.6M | ||
| Q2 24 | $44.9M | $-7.3M | ||
| Q1 24 | $-21.7M | $-6.8M |
| Q4 25 | 352.4% | — | ||
| Q3 25 | 93.1% | -145.4% | ||
| Q2 25 | 201.6% | -252.2% | ||
| Q1 25 | -145.6% | -512.1% | ||
| Q4 24 | 468.2% | 48.2% | ||
| Q3 24 | 432.1% | -706.3% | ||
| Q2 24 | 131.0% | -1463.4% | ||
| Q1 24 | -58.6% | — |
| Q4 25 | 37.4% | 0.0% | ||
| Q3 25 | 1.7% | 0.6% | ||
| Q2 25 | 2.9% | 0.3% | ||
| Q1 25 | 4.3% | 1.1% | ||
| Q4 24 | 23.9% | 0.3% | ||
| Q3 24 | 7.8% | 6.8% | ||
| Q2 24 | 1.3% | 7.6% | ||
| Q1 24 | 3.7% | — |
| Q4 25 | 5.49× | — | ||
| Q3 25 | 1.37× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | -2.49× | — | ||
| Q4 24 | 4.27× | 0.84× | ||
| Q3 24 | 6.13× | — | ||
| Q2 24 | 1.41× | — | ||
| Q1 24 | -1.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LADR
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
