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Side-by-side financial comparison of DNA X, Inc. (SONM) 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 $16.2M, roughly 1.7× DNA X, Inc.). DNA X, Inc. runs the higher net margin — -29.3% vs -147.1%, a 117.8% gap on every dollar of revenue. On growth, DNA X, Inc. posted the faster year-over-year revenue change (7.9% vs -67.6%).
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.
SONM vs SPRY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $16.2M | $28.1M |
| Net Profit | $-4.8M | $-41.3M |
| Gross Margin | 11.2% | — |
| Operating Margin | -24.5% | -147.6% |
| Net Margin | -29.3% | -147.1% |
| Revenue YoY | 7.9% | -67.6% |
| Net Profit YoY | -89.2% | -182.8% |
| EPS (diluted) | $-4.83 | $-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 | $16.2M | $32.5M | ||
| Q2 25 | $11.2M | $15.7M | ||
| Q1 25 | $16.7M | $8.0M | ||
| Q4 24 | $15.3M | $86.6M | ||
| Q3 24 | $15.0M | $2.1M | ||
| Q2 24 | $11.5M | $500.0K | ||
| Q1 24 | $9.1M | $0 |
| Q4 25 | — | $-41.3M | ||
| Q3 25 | $-4.8M | $-51.2M | ||
| Q2 25 | $-7.5M | $-44.9M | ||
| Q1 25 | $458.0K | $-33.9M | ||
| Q4 24 | $-21.6M | $49.9M | ||
| Q3 24 | $-2.5M | $-19.1M | ||
| Q2 24 | $-6.6M | $-12.5M | ||
| Q1 24 | $-2.9M | $-10.3M |
| Q4 25 | — | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 7.6% | — | ||
| Q1 25 | 50.0% | — | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 28.2% | — | ||
| Q2 24 | 25.8% | — | ||
| Q1 24 | 31.8% | — |
| Q4 25 | — | -147.6% | ||
| Q3 25 | -24.5% | -163.7% | ||
| Q2 25 | -60.2% | -302.9% | ||
| Q1 25 | 3.9% | -466.3% | ||
| Q4 24 | 55.3% | 54.5% | ||
| Q3 24 | -15.8% | -1051.6% | ||
| Q2 24 | -56.2% | -3068.0% | ||
| Q1 24 | -29.5% | — |
| Q4 25 | — | -147.1% | ||
| Q3 25 | -29.3% | -157.4% | ||
| Q2 25 | -66.8% | -285.6% | ||
| Q1 25 | 2.7% | -425.7% | ||
| Q4 24 | -141.6% | 57.7% | ||
| Q3 24 | -16.7% | -925.0% | ||
| Q2 24 | -57.5% | -2503.2% | ||
| Q1 24 | -31.9% | — |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $-4.83 | $-0.52 | ||
| Q2 25 | $-0.79 | $-0.46 | ||
| Q1 25 | $0.08 | $-0.35 | ||
| Q4 24 | $-116.99 | $0.52 | ||
| Q3 24 | $-9.32 | $-0.20 | ||
| Q2 24 | $-1.41 | $-0.13 | ||
| Q1 24 | $-0.65 | $-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 | $2.1M | $245.0M |
| Total DebtLower is stronger | $5.1M | $96.4M |
| Stockholders' EquityBook value | $-701.0K | $114.3M |
| Total Assets | $40.2M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $245.0M | ||
| Q3 25 | $2.1M | $288.2M | ||
| Q2 25 | $2.0M | $240.1M | ||
| Q1 25 | $2.1M | $275.7M | ||
| Q4 24 | $5.3M | $314.0M | ||
| Q3 24 | $9.1M | $204.6M | ||
| Q2 24 | $9.6M | $218.7M | ||
| Q1 24 | $9.3M | $223.6M |
| Q4 25 | — | $96.4M | ||
| Q3 25 | $5.1M | $96.2M | ||
| Q2 25 | $2.9M | — | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $114.3M | ||
| Q3 25 | $-701.0K | $147.7M | ||
| Q2 25 | $-1.3M | $192.3M | ||
| Q1 25 | $-1.1M | $229.0M | ||
| Q4 24 | $-5.7M | $256.8M | ||
| Q3 24 | $15.3M | $201.0M | ||
| Q2 24 | $17.5M | $215.2M | ||
| Q1 24 | $19.8M | $223.9M |
| Q4 25 | — | $327.7M | ||
| Q3 25 | $40.2M | $372.8M | ||
| Q2 25 | $36.1M | $313.5M | ||
| Q1 25 | $36.0M | $327.3M | ||
| Q4 24 | $39.7M | $351.2M | ||
| Q3 24 | $49.1M | $217.6M | ||
| Q2 24 | $45.9M | $222.0M | ||
| Q1 24 | $42.4M | $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 | $-7.0M | $-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 | — | $-43.5M | ||
| Q3 25 | $-7.0M | $-47.0M | ||
| Q2 25 | $-4.9M | $-39.6M | ||
| Q1 25 | $-9.6M | $-40.7M | ||
| Q4 24 | $-4.5M | $42.0M | ||
| Q3 24 | $-417.0K | $-14.5M | ||
| Q2 24 | $-3.4M | $-7.3M | ||
| Q1 24 | $-168.0K | $-6.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-47.2M | ||
| Q2 25 | — | $-39.6M | ||
| Q1 25 | — | $-40.8M | ||
| Q4 24 | $-4.5M | $41.7M | ||
| Q3 24 | $-554.0K | $-14.6M | ||
| Q2 24 | $-3.4M | $-7.3M | ||
| Q1 24 | $-198.0K | $-6.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | -145.4% | ||
| Q2 25 | — | -252.2% | ||
| Q1 25 | — | -512.1% | ||
| Q4 24 | -29.6% | 48.2% | ||
| Q3 24 | -3.7% | -706.3% | ||
| Q2 24 | -29.8% | -1463.4% | ||
| Q1 24 | -2.2% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 0.1% | 0.3% | ||
| Q3 24 | 0.9% | 6.8% | ||
| Q2 24 | 0.3% | 7.6% | ||
| Q1 24 | 0.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.97× | — | ||
| 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
SONM
Segment breakdown not available.
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
