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Side-by-side financial comparison of READING INTERNATIONAL INC (RDI) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
READING INTERNATIONAL INC is the larger business by last-quarter revenue ($50.3M vs $28.1M, roughly 1.8× ARS Pharmaceuticals, Inc.). READING INTERNATIONAL INC runs the higher net margin — -5.1% vs -147.1%, a 142.0% gap on every dollar of revenue. On growth, READING INTERNATIONAL INC posted the faster year-over-year revenue change (-14.2% vs -67.6%).
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
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.
RDI vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.3M | $28.1M |
| Net Profit | $-2.6M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | -1.9% | -147.6% |
| Net Margin | -5.1% | -147.1% |
| Revenue YoY | -14.2% | -67.6% |
| Net Profit YoY | -14.5% | -182.8% |
| EPS (diluted) | $-0.11 | $-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 | $50.3M | $28.1M | ||
| Q3 25 | $52.2M | $32.5M | ||
| Q2 25 | $60.4M | $15.7M | ||
| Q1 25 | $40.2M | $8.0M | ||
| Q4 24 | $58.6M | $86.6M | ||
| Q3 24 | $60.1M | $2.1M | ||
| Q2 24 | $46.8M | $500.0K | ||
| Q1 24 | $45.1M | $0 |
| Q4 25 | $-2.6M | $-41.3M | ||
| Q3 25 | $-4.2M | $-51.2M | ||
| Q2 25 | $-2.7M | $-44.9M | ||
| Q1 25 | $-4.8M | $-33.9M | ||
| Q4 24 | $-2.2M | $49.9M | ||
| Q3 24 | $-7.0M | $-19.1M | ||
| Q2 24 | $-12.8M | $-12.5M | ||
| Q1 24 | $-13.2M | $-10.3M |
| Q4 25 | -1.9% | -147.6% | ||
| Q3 25 | -0.6% | -163.7% | ||
| Q2 25 | 4.8% | -302.9% | ||
| Q1 25 | -17.2% | -466.3% | ||
| Q4 24 | 2.6% | 54.5% | ||
| Q3 24 | -0.6% | -1051.6% | ||
| Q2 24 | -16.4% | -3068.0% | ||
| Q1 24 | -16.7% | — |
| Q4 25 | -5.1% | -147.1% | ||
| Q3 25 | -8.0% | -157.4% | ||
| Q2 25 | -4.4% | -285.6% | ||
| Q1 25 | -11.8% | -425.7% | ||
| Q4 24 | -3.8% | 57.7% | ||
| Q3 24 | -11.7% | -925.0% | ||
| Q2 24 | -27.4% | -2503.2% | ||
| Q1 24 | -29.4% | — |
| Q4 25 | $-0.11 | $-0.41 | ||
| Q3 25 | $-0.18 | $-0.52 | ||
| Q2 25 | $-0.12 | $-0.46 | ||
| Q1 25 | $-0.21 | $-0.35 | ||
| Q4 24 | $-0.11 | $0.52 | ||
| Q3 24 | $-0.31 | $-0.20 | ||
| Q2 24 | $-0.57 | $-0.13 | ||
| Q1 24 | $-0.59 | $-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 | $10.5M | $245.0M |
| Total DebtLower is stronger | $185.1M | $96.4M |
| Stockholders' EquityBook value | $-18.2M | $114.3M |
| Total Assets | $434.9M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.5M | $245.0M | ||
| Q3 25 | $8.1M | $288.2M | ||
| Q2 25 | $9.1M | $240.1M | ||
| Q1 25 | $5.9M | $275.7M | ||
| Q4 24 | $12.4M | $314.0M | ||
| Q3 24 | $10.1M | $204.6M | ||
| Q2 24 | $9.3M | $218.7M | ||
| Q1 24 | $7.5M | $223.6M |
| Q4 25 | $185.1M | $96.4M | ||
| Q3 25 | — | $96.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $202.7M | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-18.2M | $114.3M | ||
| Q3 25 | $-12.1M | $147.7M | ||
| Q2 25 | $-7.7M | $192.3M | ||
| Q1 25 | $-8.1M | $229.0M | ||
| Q4 24 | $-4.4M | $256.8M | ||
| Q3 24 | $1.6M | $201.0M | ||
| Q2 24 | $6.5M | $215.2M | ||
| Q1 24 | $18.0M | $223.9M |
| Q4 25 | $434.9M | $327.7M | ||
| Q3 25 | $435.2M | $372.8M | ||
| Q2 25 | $438.1M | $313.5M | ||
| Q1 25 | $441.0M | $327.3M | ||
| Q4 24 | $471.0M | $351.2M | ||
| Q3 24 | $495.7M | $217.6M | ||
| Q2 24 | $494.9M | $222.0M | ||
| Q1 24 | $494.9M | $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 | $4.3M | $-43.5M |
| Free Cash FlowOCF − Capex | $4.1M | — |
| FCF MarginFCF / Revenue | 8.2% | — |
| Capex IntensityCapex / Revenue | 0.3% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $-43.5M | ||
| Q3 25 | $295.0K | $-47.0M | ||
| Q2 25 | $1.6M | $-39.6M | ||
| Q1 25 | $-7.7M | $-40.7M | ||
| Q4 24 | $8.0M | $42.0M | ||
| Q3 24 | $1.3M | $-14.5M | ||
| Q2 24 | $-10.4M | $-7.3M | ||
| Q1 24 | $-2.8M | $-6.7M |
| Q4 25 | $4.1M | — | ||
| Q3 25 | $-246.0K | $-47.2M | ||
| Q2 25 | $1.2M | $-39.6M | ||
| Q1 25 | $-8.0M | $-40.8M | ||
| Q4 24 | $7.0M | $41.7M | ||
| Q3 24 | $-1.1M | $-14.6M | ||
| Q2 24 | $-10.6M | $-7.3M | ||
| Q1 24 | $-4.7M | $-6.8M |
| Q4 25 | 8.2% | — | ||
| Q3 25 | -0.5% | -145.4% | ||
| Q2 25 | 1.9% | -252.2% | ||
| Q1 25 | -19.8% | -512.1% | ||
| Q4 24 | 12.0% | 48.2% | ||
| Q3 24 | -1.8% | -706.3% | ||
| Q2 24 | -22.7% | -1463.4% | ||
| Q1 24 | -10.4% | — |
| Q4 25 | 0.3% | 0.0% | ||
| Q3 25 | 1.0% | 0.6% | ||
| Q2 25 | 0.6% | 0.3% | ||
| Q1 25 | 0.6% | 1.1% | ||
| Q4 24 | 1.7% | 0.3% | ||
| Q3 24 | 4.0% | 6.8% | ||
| Q2 24 | 0.5% | 7.6% | ||
| Q1 24 | 4.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
