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Side-by-side financial comparison of Volato Group, Inc. (SOAR) 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 $24.9M, roughly 1.1× Volato Group, Inc.). Volato Group, Inc. runs the higher net margin — 14.5% vs -147.1%, a 161.6% gap on every dollar of revenue. On growth, Volato Group, Inc. posted the faster year-over-year revenue change (13632.0% vs -67.6%).
Volato Aeronaves also known as Volato Aeronaves e Compósitos Ltda is a Brazilian aircraft manufacturer.
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.
SOAR vs SPRY — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $24.9M | $28.1M |
| Net Profit | $3.6M | $-41.3M |
| Gross Margin | 15.2% | — |
| Operating Margin | 3.5% | -147.6% |
| Net Margin | 14.5% | -147.1% |
| Revenue YoY | 13632.0% | -67.6% |
| Net Profit YoY | 121.3% | -182.8% |
| EPS (diluted) | $0.75 | $-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 | — | $28.1M | ||
| Q3 25 | — | $32.5M | ||
| Q2 25 | $24.9M | $15.7M | ||
| Q1 25 | $25.5M | $8.0M | ||
| Q4 24 | — | $86.6M | ||
| Q3 24 | $38.5M | $2.1M | ||
| Q2 24 | — | $500.0K | ||
| Q1 24 | — | $0 |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | — | $-51.2M | ||
| Q2 25 | $3.6M | $-44.9M | ||
| Q1 25 | $455.0K | $-33.9M | ||
| Q4 24 | — | $49.9M | ||
| Q3 24 | $-4.4M | $-19.1M | ||
| Q2 24 | — | $-12.5M | ||
| Q1 24 | — | $-10.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -147.6% | ||
| Q3 25 | — | -163.7% | ||
| Q2 25 | 3.5% | -302.9% | ||
| Q1 25 | 9.9% | -466.3% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | 5.5% | -1051.6% | ||
| Q2 24 | — | -3068.0% | ||
| Q1 24 | — | — |
| Q4 25 | — | -147.1% | ||
| Q3 25 | — | -157.4% | ||
| Q2 25 | 14.5% | -285.6% | ||
| Q1 25 | 1.8% | -425.7% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -11.5% | -925.0% | ||
| Q2 24 | — | -2503.2% | ||
| Q1 24 | — | — |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | — | $-0.52 | ||
| Q2 25 | $0.75 | $-0.46 | ||
| Q1 25 | $0.03 | $-0.35 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | $-3.76 | $-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 | — | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $-7.1M | $114.3M |
| Total Assets | $13.0M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | — | $288.2M | ||
| Q2 25 | — | $240.1M | ||
| Q1 25 | — | $275.7M | ||
| Q4 24 | — | $314.0M | ||
| Q3 24 | — | $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 | — | $114.3M | ||
| Q3 25 | — | $147.7M | ||
| Q2 25 | $-7.1M | $192.3M | ||
| Q1 25 | $-15.8M | $229.0M | ||
| Q4 24 | — | $256.8M | ||
| Q3 24 | $-19.6M | $201.0M | ||
| Q2 24 | — | $215.2M | ||
| Q1 24 | — | $223.9M |
| Q4 25 | — | $327.7M | ||
| Q3 25 | — | $372.8M | ||
| Q2 25 | $13.0M | $313.5M | ||
| Q1 25 | $23.4M | $327.3M | ||
| Q4 24 | — | $351.2M | ||
| Q3 24 | $47.9M | $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 | $848.0K | $-43.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.24× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-43.5M | ||
| Q3 25 | — | $-47.0M | ||
| Q2 25 | $848.0K | $-39.6M | ||
| Q1 25 | $-312.0K | $-40.7M | ||
| Q4 24 | — | $42.0M | ||
| Q3 24 | $-3.1M | $-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 | $-3.2M | $-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 | -8.2% | -706.3% | ||
| Q2 24 | — | -1463.4% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | 0.0% | 0.3% | ||
| Q1 25 | 0.0% | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 0.1% | 6.8% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | -0.69× | — | ||
| 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
SOAR
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
