vs
Side-by-side financial comparison of SolarMax Technology, Inc. (SMXT) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $28.1M, roughly 1.7× ARS Pharmaceuticals, Inc.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -147.1%, a 145.3% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs -67.6%).
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
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.
SMXT vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.6M | $28.1M |
| Net Profit | $-872.2K | $-41.3M |
| Gross Margin | 2.7% | — |
| Operating Margin | -2.7% | -147.6% |
| Net Margin | -1.9% | -147.1% |
| Revenue YoY | 623.5% | -67.6% |
| Net Profit YoY | 77.7% | -182.8% |
| EPS (diluted) | $-0.02 | $-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 | $46.6M | $28.1M | ||
| Q3 25 | $30.6M | $32.5M | ||
| Q2 25 | $6.9M | $15.7M | ||
| Q1 25 | $6.9M | $8.0M | ||
| Q4 24 | $6.4M | $86.6M | ||
| Q3 24 | $6.3M | $2.1M | ||
| Q2 24 | — | $500.0K | ||
| Q1 24 | — | $0 |
| Q4 25 | $-872.2K | $-41.3M | ||
| Q3 25 | $-2.3M | $-51.2M | ||
| Q2 25 | $-1.9M | $-44.9M | ||
| Q1 25 | $-1.3M | $-33.9M | ||
| Q4 24 | $-3.9M | $49.9M | ||
| Q3 24 | $-9.6M | $-19.1M | ||
| Q2 24 | — | $-12.5M | ||
| Q1 24 | — | $-10.3M |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 8.8% | — | ||
| Q1 25 | 20.5% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -2.7% | -147.6% | ||
| Q3 25 | -6.9% | -163.7% | ||
| Q2 25 | -25.7% | -302.9% | ||
| Q1 25 | -16.7% | -466.3% | ||
| Q4 24 | -27.9% | 54.5% | ||
| Q3 24 | -158.4% | -1051.6% | ||
| Q2 24 | — | -3068.0% | ||
| Q1 24 | — | — |
| Q4 25 | -1.9% | -147.1% | ||
| Q3 25 | -7.4% | -157.4% | ||
| Q2 25 | -27.6% | -285.6% | ||
| Q1 25 | -18.7% | -425.7% | ||
| Q4 24 | -60.6% | 57.7% | ||
| Q3 24 | -152.0% | -925.0% | ||
| Q2 24 | — | -2503.2% | ||
| Q1 24 | — | — |
| Q4 25 | $-0.02 | $-0.41 | ||
| Q3 25 | $-0.04 | $-0.52 | ||
| Q2 25 | $-0.04 | $-0.46 | ||
| Q1 25 | $-0.03 | $-0.35 | ||
| Q4 24 | $-0.07 | $0.52 | ||
| Q3 24 | $-0.21 | $-0.20 | ||
| Q2 24 | — | $-0.13 | ||
| Q1 24 | — | $-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 | $8.0M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $-12.2M | $114.3M |
| Total Assets | $91.3M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.0M | $245.0M | ||
| Q3 25 | $5.7M | $288.2M | ||
| Q2 25 | $1.9M | $240.1M | ||
| Q1 25 | $6.8M | $275.7M | ||
| Q4 24 | $7.1M | $314.0M | ||
| Q3 24 | $8.6M | $204.6M | ||
| Q2 24 | — | $218.7M | ||
| Q1 24 | — | $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 | $-12.2M | $114.3M | ||
| Q3 25 | $-11.8M | $147.7M | ||
| Q2 25 | $-15.1M | $192.3M | ||
| Q1 25 | $-15.9M | $229.0M | ||
| Q4 24 | $-15.1M | $256.8M | ||
| Q3 24 | $-10.9M | $201.0M | ||
| Q2 24 | — | $215.2M | ||
| Q1 24 | — | $223.9M |
| Q4 25 | $91.3M | $327.7M | ||
| Q3 25 | $58.7M | $372.8M | ||
| Q2 25 | $38.2M | $313.5M | ||
| Q1 25 | $38.6M | $327.3M | ||
| Q4 24 | $38.6M | $351.2M | ||
| Q3 24 | $43.0M | $217.6M | ||
| Q2 24 | — | $222.0M | ||
| Q1 24 | — | $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 | $-2.5M | $-43.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $-43.5M | ||
| Q3 25 | $3.4M | $-47.0M | ||
| Q2 25 | $220.7K | $-39.6M | ||
| Q1 25 | $-601.1K | $-40.7M | ||
| Q4 24 | $-1.3M | $42.0M | ||
| Q3 24 | $203.6K | $-14.5M | ||
| Q2 24 | — | $-7.3M | ||
| Q1 24 | — | $-6.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-47.2M | ||
| Q2 25 | — | $-39.6M | ||
| Q1 25 | — | $-40.8M | ||
| Q4 24 | — | $41.7M | ||
| Q3 24 | — | $-14.6M | ||
| Q2 24 | — | $-7.3M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | -145.4% | ||
| Q2 25 | — | -252.2% | ||
| Q1 25 | — | -512.1% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | -706.3% | ||
| Q2 24 | — | -1463.4% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 0.0% | 6.8% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | — |
| 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
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
