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Side-by-side financial comparison of Mastech Digital, Inc. (MHH) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Mastech Digital, Inc. is the larger business by last-quarter revenue ($45.5M vs $28.1M, roughly 1.6× ARS Pharmaceuticals, Inc.). Mastech Digital, Inc. runs the higher net margin — 2.1% vs -147.1%, a 149.3% gap on every dollar of revenue. On growth, Mastech Digital, Inc. posted the faster year-over-year revenue change (-10.4% vs -67.6%).
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
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.
MHH vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $45.5M | $28.1M |
| Net Profit | $972.0K | $-41.3M |
| Gross Margin | 28.3% | — |
| Operating Margin | 2.2% | -147.6% |
| Net Margin | 2.1% | -147.1% |
| Revenue YoY | -10.4% | -67.6% |
| Net Profit YoY | 227.3% | -182.8% |
| EPS (diluted) | $0.08 | $-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 | $45.5M | $28.1M | ||
| Q3 25 | $48.5M | $32.5M | ||
| Q2 25 | $49.1M | $15.7M | ||
| Q1 25 | $48.3M | $8.0M | ||
| Q4 24 | $50.7M | $86.6M | ||
| Q3 24 | $51.8M | $2.1M | ||
| Q2 24 | $49.5M | $500.0K | ||
| Q1 24 | $46.8M | $0 |
| Q4 25 | $972.0K | $-41.3M | ||
| Q3 25 | $941.0K | $-51.2M | ||
| Q2 25 | $135.0K | $-44.9M | ||
| Q1 25 | $-1.4M | $-33.9M | ||
| Q4 24 | $297.0K | $49.9M | ||
| Q3 24 | $1.9M | $-19.1M | ||
| Q2 24 | $1.4M | $-12.5M | ||
| Q1 24 | $-161.0K | $-10.3M |
| Q4 25 | 28.3% | — | ||
| Q3 25 | 27.8% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 26.7% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.5% | — | ||
| Q2 24 | 28.2% | — | ||
| Q1 24 | 25.9% | — |
| Q4 25 | 2.2% | -147.6% | ||
| Q3 25 | 1.7% | -163.7% | ||
| Q2 25 | 0.1% | -302.9% | ||
| Q1 25 | -3.8% | -466.3% | ||
| Q4 24 | 0.1% | 54.5% | ||
| Q3 24 | 4.7% | -1051.6% | ||
| Q2 24 | 3.4% | -3068.0% | ||
| Q1 24 | -0.9% | — |
| Q4 25 | 2.1% | -147.1% | ||
| Q3 25 | 1.9% | -157.4% | ||
| Q2 25 | 0.3% | -285.6% | ||
| Q1 25 | -3.0% | -425.7% | ||
| Q4 24 | 0.6% | 57.7% | ||
| Q3 24 | 3.6% | -925.0% | ||
| Q2 24 | 2.8% | -2503.2% | ||
| Q1 24 | -0.3% | — |
| Q4 25 | $0.08 | $-0.41 | ||
| Q3 25 | $0.08 | $-0.52 | ||
| Q2 25 | $0.01 | $-0.46 | ||
| Q1 25 | $-0.12 | $-0.35 | ||
| Q4 24 | $0.01 | $0.52 | ||
| Q3 24 | $0.16 | $-0.20 | ||
| Q2 24 | $0.12 | $-0.13 | ||
| Q1 24 | $-0.01 | $-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 | $36.5M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $89.3M | $114.3M |
| Total Assets | $111.8M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.5M | $245.0M | ||
| Q3 25 | $32.7M | $288.2M | ||
| Q2 25 | $27.9M | $240.1M | ||
| Q1 25 | $24.7M | $275.7M | ||
| Q4 24 | $27.7M | $314.0M | ||
| Q3 24 | $23.9M | $204.6M | ||
| Q2 24 | $20.6M | $218.7M | ||
| Q1 24 | $19.4M | $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 | $89.3M | $114.3M | ||
| Q3 25 | $88.0M | $147.7M | ||
| Q2 25 | $87.8M | $192.3M | ||
| Q1 25 | $86.9M | $229.0M | ||
| Q4 24 | $87.4M | $256.8M | ||
| Q3 24 | $86.5M | $201.0M | ||
| Q2 24 | $84.0M | $215.2M | ||
| Q1 24 | $81.7M | $223.9M |
| Q4 25 | $111.8M | $327.7M | ||
| Q3 25 | $112.6M | $372.8M | ||
| Q2 25 | $110.4M | $313.5M | ||
| Q1 25 | $110.1M | $327.3M | ||
| Q4 24 | $111.5M | $351.2M | ||
| Q3 24 | $111.5M | $217.6M | ||
| Q2 24 | $107.5M | $222.0M | ||
| Q1 24 | $106.1M | $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 | $4.4M | $-43.5M |
| Free Cash FlowOCF − Capex | $4.3M | — |
| FCF MarginFCF / Revenue | 9.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | 0.0% |
| Cash ConversionOCF / Net Profit | 4.48× | — |
| TTM Free Cash FlowTrailing 4 quarters | $10.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $-43.5M | ||
| Q3 25 | $6.5M | $-47.0M | ||
| Q2 25 | $3.3M | $-39.6M | ||
| Q1 25 | $-3.0M | $-40.7M | ||
| Q4 24 | $4.0M | $42.0M | ||
| Q3 24 | $3.3M | $-14.5M | ||
| Q2 24 | $1.2M | $-7.3M | ||
| Q1 24 | $-1.3M | $-6.7M |
| Q4 25 | $4.3M | — | ||
| Q3 25 | $6.3M | $-47.2M | ||
| Q2 25 | $3.2M | $-39.6M | ||
| Q1 25 | $-3.1M | $-40.8M | ||
| Q4 24 | $3.9M | $41.7M | ||
| Q3 24 | $3.2M | $-14.6M | ||
| Q2 24 | $707.0K | $-7.3M | ||
| Q1 24 | $-1.6M | $-6.8M |
| Q4 25 | 9.5% | — | ||
| Q3 25 | 13.0% | -145.4% | ||
| Q2 25 | 6.6% | -252.2% | ||
| Q1 25 | -6.4% | -512.1% | ||
| Q4 24 | 7.7% | 48.2% | ||
| Q3 24 | 6.2% | -706.3% | ||
| Q2 24 | 1.4% | -1463.4% | ||
| Q1 24 | -3.4% | — |
| Q4 25 | 0.1% | 0.0% | ||
| Q3 25 | 0.4% | 0.6% | ||
| Q2 25 | 0.1% | 0.3% | ||
| Q1 25 | 0.2% | 1.1% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.1% | 6.8% | ||
| Q2 24 | 1.0% | 7.6% | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 4.48× | — | ||
| Q3 25 | 6.88× | — | ||
| Q2 25 | 24.41× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.60× | 0.84× | ||
| Q3 24 | 1.76× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MHH
| IT Staffing Services | $37.6M | 83% |
| Data And Analytics Services | $7.8M | 17% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
