vs
Side-by-side financial comparison of Montauk Renewables, Inc. (MNTK) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Montauk Renewables, Inc. is the larger business by last-quarter revenue ($43.4M vs $28.1M, roughly 1.5× ARS Pharmaceuticals, Inc.). Montauk Renewables, Inc. runs the higher net margin — 5.7% vs -147.1%, a 152.9% gap on every dollar of revenue. On growth, Montauk Renewables, Inc. posted the faster year-over-year revenue change (56.7% vs -67.6%).
Montauk Renewables, Inc. is a US-based renewable energy firm specializing in capturing and converting biogenic methane from landfills and agricultural waste into renewable natural gas (RNG) and low-carbon electricity. It serves utility, commercial, and industrial customers across North America, with operations focused on advancing decarbonization and sustainable energy transition goals.
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.
MNTK vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.4M | $28.1M |
| Net Profit | $2.5M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | -3.8% | -147.6% |
| Net Margin | 5.7% | -147.1% |
| Revenue YoY | 56.7% | -67.6% |
| Net Profit YoY | 129.5% | -182.8% |
| EPS (diluted) | $0.01 | $-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 | $43.4M | $28.1M | ||
| Q3 25 | $45.3M | $32.5M | ||
| Q2 25 | $45.1M | $15.7M | ||
| Q1 25 | $42.6M | $8.0M | ||
| Q4 24 | $27.7M | $86.6M | ||
| Q3 24 | $65.9M | $2.1M | ||
| Q2 24 | $43.3M | $500.0K | ||
| Q1 24 | $38.8M | $0 |
| Q4 25 | $2.5M | $-41.3M | ||
| Q3 25 | $5.2M | $-51.2M | ||
| Q2 25 | $-5.5M | $-44.9M | ||
| Q1 25 | $-464.0K | $-33.9M | ||
| Q4 24 | $-8.5M | $49.9M | ||
| Q3 24 | $17.0M | $-19.1M | ||
| Q2 24 | $-712.0K | $-12.5M | ||
| Q1 24 | $1.9M | $-10.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 43.8% | — | ||
| Q2 24 | 15.6% | — | ||
| Q1 24 | 22.8% | — |
| Q4 25 | -3.8% | -147.6% | ||
| Q3 25 | 9.8% | -163.7% | ||
| Q2 25 | -5.2% | -302.9% | ||
| Q1 25 | 1.0% | -466.3% | ||
| Q4 24 | -35.5% | 54.5% | ||
| Q3 24 | 34.4% | -1051.6% | ||
| Q2 24 | 2.0% | -3068.0% | ||
| Q1 24 | 6.1% | — |
| Q4 25 | 5.7% | -147.1% | ||
| Q3 25 | 11.5% | -157.4% | ||
| Q2 25 | -12.2% | -285.6% | ||
| Q1 25 | -1.1% | -425.7% | ||
| Q4 24 | -30.5% | 57.7% | ||
| Q3 24 | 25.9% | -925.0% | ||
| Q2 24 | -1.6% | -2503.2% | ||
| Q1 24 | 4.8% | — |
| Q4 25 | $0.01 | $-0.41 | ||
| Q3 25 | $0.04 | $-0.52 | ||
| Q2 25 | $-0.04 | $-0.46 | ||
| Q1 25 | $0.00 | $-0.35 | ||
| Q4 24 | $-0.05 | $0.52 | ||
| Q3 24 | $0.12 | $-0.20 | ||
| Q2 24 | $-0.01 | $-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 | $23.8M | $245.0M |
| Total DebtLower is stronger | $126.0M | $96.4M |
| Stockholders' EquityBook value | $263.1M | $114.3M |
| Total Assets | $435.5M | $327.7M |
| Debt / EquityLower = less leverage | 0.48× | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.8M | $245.0M | ||
| Q3 25 | $6.8M | $288.2M | ||
| Q2 25 | $29.1M | $240.1M | ||
| Q1 25 | $40.1M | $275.7M | ||
| Q4 24 | $45.6M | $314.0M | ||
| Q3 24 | $55.0M | $204.6M | ||
| Q2 24 | $42.3M | $218.7M | ||
| Q1 24 | $63.3M | $223.6M |
| Q4 25 | $126.0M | $96.4M | ||
| Q3 25 | $54.9M | $96.2M | ||
| Q2 25 | $57.8M | — | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | $43.8M | $0 | ||
| Q3 24 | $46.7M | — | ||
| Q2 24 | $49.7M | — | ||
| Q1 24 | $52.7M | — |
| Q4 25 | $263.1M | $114.3M | ||
| Q3 25 | $260.7M | $147.7M | ||
| Q2 25 | $254.7M | $192.3M | ||
| Q1 25 | $258.2M | $229.0M | ||
| Q4 24 | $257.4M | $256.8M | ||
| Q3 24 | $275.3M | $201.0M | ||
| Q2 24 | $255.3M | $215.2M | ||
| Q1 24 | $254.3M | $223.9M |
| Q4 25 | $435.5M | $327.7M | ||
| Q3 25 | $383.3M | $372.8M | ||
| Q2 25 | $382.5M | $313.5M | ||
| Q1 25 | $354.2M | $327.3M | ||
| Q4 24 | $349.0M | $351.2M | ||
| Q3 24 | $374.1M | $217.6M | ||
| Q2 24 | $362.0M | $222.0M | ||
| Q1 24 | $354.7M | $227.6M |
| Q4 25 | 0.48× | 0.84× | ||
| Q3 25 | 0.21× | 0.65× | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.16× | — | ||
| Q4 24 | 0.17× | 0.00× | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.21× | — |
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 | $337.0K | $-43.5M |
| Free Cash FlowOCF − Capex | $-41.1M | — |
| FCF MarginFCF / Revenue | -94.7% | — |
| Capex IntensityCapex / Revenue | 95.5% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-86.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $337.0K | $-43.5M | ||
| Q3 25 | $12.7M | $-47.0M | ||
| Q2 25 | $8.2M | $-39.6M | ||
| Q1 25 | $9.1M | $-40.7M | ||
| Q4 24 | $724.0K | $42.0M | ||
| Q3 24 | $28.6M | $-14.5M | ||
| Q2 24 | $193.0K | $-7.3M | ||
| Q1 24 | $14.3M | $-6.7M |
| Q4 25 | $-41.1M | — | ||
| Q3 25 | $-17.2M | $-47.2M | ||
| Q2 25 | $-25.5M | $-39.6M | ||
| Q1 25 | $-2.5M | $-40.8M | ||
| Q4 24 | $-8.3M | $41.7M | ||
| Q3 24 | $16.0M | $-14.6M | ||
| Q2 24 | $-18.6M | $-7.3M | ||
| Q1 24 | $-7.7M | $-6.8M |
| Q4 25 | -94.7% | — | ||
| Q3 25 | -37.9% | -145.4% | ||
| Q2 25 | -56.4% | -252.2% | ||
| Q1 25 | -5.8% | -512.1% | ||
| Q4 24 | -29.8% | 48.2% | ||
| Q3 24 | 24.3% | -706.3% | ||
| Q2 24 | -42.9% | -1463.4% | ||
| Q1 24 | -19.8% | — |
| Q4 25 | 95.5% | 0.0% | ||
| Q3 25 | 65.9% | 0.6% | ||
| Q2 25 | 74.6% | 0.3% | ||
| Q1 25 | 27.3% | 1.1% | ||
| Q4 24 | 32.5% | 0.3% | ||
| Q3 24 | 19.1% | 6.8% | ||
| Q2 24 | 43.3% | 7.6% | ||
| Q1 24 | 56.7% | — |
| Q4 25 | 0.14× | — | ||
| Q3 25 | 2.43× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 7.73× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MNTK
| Natural Gas Environmental Attributes | $28.1M | 65% |
| Natural Gas Commodity | $10.7M | 25% |
| Electric Commodity | $2.7M | 6% |
| Electric Environmental Attributes | $2.0M | 5% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
