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Side-by-side financial comparison of Spok Holdings, Inc (SPOK) and ARS Pharmaceuticals, Inc. (SPRY). Click either name above to swap in a different company.
Spok Holdings, Inc is the larger business by last-quarter revenue ($33.9M vs $28.1M, roughly 1.2× ARS Pharmaceuticals, Inc.). Spok Holdings, Inc runs the higher net margin — 8.7% vs -147.1%, a 155.8% gap on every dollar of revenue. On growth, Spok Holdings, Inc posted the faster year-over-year revenue change (-0.1% vs -67.6%).
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
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.
SPOK vs SPRY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $33.9M | $28.1M |
| Net Profit | $2.9M | $-41.3M |
| Gross Margin | 76.7% | — |
| Operating Margin | 11.6% | -147.6% |
| Net Margin | 8.7% | -147.1% |
| Revenue YoY | -0.1% | -67.6% |
| Net Profit YoY | -19.6% | -182.8% |
| EPS (diluted) | $0.13 | $-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 | $33.9M | $28.1M | ||
| Q3 25 | $33.9M | $32.5M | ||
| Q2 25 | $35.7M | $15.7M | ||
| Q1 25 | $36.3M | $8.0M | ||
| Q4 24 | $33.9M | $86.6M | ||
| Q3 24 | $34.9M | $2.1M | ||
| Q2 24 | $34.0M | $500.0K | ||
| Q1 24 | $34.9M | $0 |
| Q4 25 | $2.9M | $-41.3M | ||
| Q3 25 | $3.2M | $-51.2M | ||
| Q2 25 | $4.6M | $-44.9M | ||
| Q1 25 | $5.2M | $-33.9M | ||
| Q4 24 | $3.6M | $49.9M | ||
| Q3 24 | $3.7M | $-19.1M | ||
| Q2 24 | $3.4M | $-12.5M | ||
| Q1 24 | $4.2M | $-10.3M |
| Q4 25 | 76.7% | — | ||
| Q3 25 | 78.3% | — | ||
| Q2 25 | 79.5% | — | ||
| Q1 25 | 80.1% | — | ||
| Q4 24 | 78.5% | — | ||
| Q3 24 | 79.5% | — | ||
| Q2 24 | 78.9% | — | ||
| Q1 24 | 79.5% | — |
| Q4 25 | 11.6% | -147.6% | ||
| Q3 25 | 12.9% | -163.7% | ||
| Q2 25 | 15.1% | -302.9% | ||
| Q1 25 | 16.6% | -466.3% | ||
| Q4 24 | 13.7% | 54.5% | ||
| Q3 24 | 14.2% | -1051.6% | ||
| Q2 24 | 13.2% | -3068.0% | ||
| Q1 24 | 14.0% | — |
| Q4 25 | 8.7% | -147.1% | ||
| Q3 25 | 9.5% | -157.4% | ||
| Q2 25 | 12.8% | -285.6% | ||
| Q1 25 | 14.3% | -425.7% | ||
| Q4 24 | 10.8% | 57.7% | ||
| Q3 24 | 10.5% | -925.0% | ||
| Q2 24 | 10.1% | -2503.2% | ||
| Q1 24 | 12.1% | — |
| Q4 25 | $0.13 | $-0.41 | ||
| Q3 25 | $0.15 | $-0.52 | ||
| Q2 25 | $0.22 | $-0.46 | ||
| Q1 25 | $0.25 | $-0.35 | ||
| Q4 24 | $0.17 | $0.52 | ||
| Q3 24 | $0.18 | $-0.20 | ||
| Q2 24 | $0.17 | $-0.13 | ||
| Q1 24 | $0.21 | $-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 | $25.3M | $245.0M |
| Total DebtLower is stronger | — | $96.4M |
| Stockholders' EquityBook value | $146.4M | $114.3M |
| Total Assets | $206.1M | $327.7M |
| Debt / EquityLower = less leverage | — | 0.84× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $25.3M | $245.0M | ||
| Q3 25 | $21.4M | $288.2M | ||
| Q2 25 | $20.2M | $240.1M | ||
| Q1 25 | $19.9M | $275.7M | ||
| Q4 24 | $29.1M | $314.0M | ||
| Q3 24 | $27.8M | $204.6M | ||
| Q2 24 | $23.9M | $218.7M | ||
| Q1 24 | $23.3M | $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 | $146.4M | $114.3M | ||
| Q3 25 | $148.7M | $147.7M | ||
| Q2 25 | $150.9M | $192.3M | ||
| Q1 25 | $151.7M | $229.0M | ||
| Q4 24 | $154.7M | $256.8M | ||
| Q3 24 | $156.3M | $201.0M | ||
| Q2 24 | $158.2M | $215.2M | ||
| Q1 24 | $160.2M | $223.9M |
| Q4 25 | $206.1M | $327.7M | ||
| Q3 25 | $209.7M | $372.8M | ||
| Q2 25 | $208.7M | $313.5M | ||
| Q1 25 | $204.5M | $327.3M | ||
| Q4 24 | $217.1M | $351.2M | ||
| Q3 24 | $216.8M | $217.6M | ||
| Q2 24 | $216.4M | $222.0M | ||
| Q1 24 | $215.0M | $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 | $11.5M | $-43.5M |
| Free Cash FlowOCF − Capex | $10.1M | — |
| FCF MarginFCF / Revenue | 29.9% | — |
| Capex IntensityCapex / Revenue | 4.1% | 0.0% |
| Cash ConversionOCF / Net Profit | 3.93× | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.5M | $-43.5M | ||
| Q3 25 | $8.1M | $-47.0M | ||
| Q2 25 | $7.0M | $-39.6M | ||
| Q1 25 | $2.3M | $-40.7M | ||
| Q4 24 | $8.4M | $42.0M | ||
| Q3 24 | $11.1M | $-14.5M | ||
| Q2 24 | $7.4M | $-7.3M | ||
| Q1 24 | $2.0M | $-6.7M |
| Q4 25 | $10.1M | — | ||
| Q3 25 | $7.6M | $-47.2M | ||
| Q2 25 | $6.0M | $-39.6M | ||
| Q1 25 | $1.5M | $-40.8M | ||
| Q4 24 | $7.5M | $41.7M | ||
| Q3 24 | $10.3M | $-14.6M | ||
| Q2 24 | $6.8M | $-7.3M | ||
| Q1 24 | $1.1M | $-6.8M |
| Q4 25 | 29.9% | — | ||
| Q3 25 | 22.4% | -145.4% | ||
| Q2 25 | 16.8% | -252.2% | ||
| Q1 25 | 4.2% | -512.1% | ||
| Q4 24 | 22.3% | 48.2% | ||
| Q3 24 | 29.4% | -706.3% | ||
| Q2 24 | 20.0% | -1463.4% | ||
| Q1 24 | 3.2% | — |
| Q4 25 | 4.1% | 0.0% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 2.9% | 0.3% | ||
| Q1 25 | 2.1% | 1.1% | ||
| Q4 24 | 2.5% | 0.3% | ||
| Q3 24 | 2.4% | 6.8% | ||
| Q2 24 | 1.9% | 7.6% | ||
| Q1 24 | 2.5% | — |
| Q4 25 | 3.93× | — | ||
| Q3 25 | 2.54× | — | ||
| Q2 25 | 1.55× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 2.31× | 0.84× | ||
| Q3 24 | 3.03× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 0.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
