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Side-by-side financial comparison of ARS Pharmaceuticals, Inc. (SPRY) and UNITY BANCORP INC (UNTY). Click either name above to swap in a different company.
UNITY BANCORP INC is the larger business by last-quarter revenue ($35.3M vs $28.1M, roughly 1.3× ARS Pharmaceuticals, Inc.). UNITY BANCORP INC runs the higher net margin — 43.9% vs -147.1%, a 191.0% gap on every dollar of revenue. On growth, UNITY BANCORP INC posted the faster year-over-year revenue change (24.2% 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.
Unity Bancorp Inc is a New Jersey-headquartered financial holding company operating Unity Bank. It offers a full range of commercial and retail banking services including business loans, deposit products, mortgage services, and personal banking solutions, primarily serving small and medium-sized enterprises and individual consumers across local communities in New Jersey and eastern Pennsylvania.
SPRY vs UNTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.1M | $35.3M |
| Net Profit | $-41.3M | $15.5M |
| Gross Margin | — | — |
| Operating Margin | -147.6% | 55.8% |
| Net Margin | -147.1% | 43.9% |
| Revenue YoY | -67.6% | 24.2% |
| Net Profit YoY | -182.8% | 34.5% |
| EPS (diluted) | $-0.41 | $1.52 |
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 | $35.3M | ||
| Q3 25 | $32.5M | $32.8M | ||
| Q2 25 | $15.7M | $34.4M | ||
| Q1 25 | $8.0M | $29.4M | ||
| Q4 24 | $86.6M | $28.4M | ||
| Q3 24 | $2.1M | $27.7M | ||
| Q2 24 | $500.0K | $25.5M | ||
| Q1 24 | $0 | $25.6M |
| Q4 25 | $-41.3M | $15.5M | ||
| Q3 25 | $-51.2M | $14.4M | ||
| Q2 25 | $-44.9M | $16.5M | ||
| Q1 25 | $-33.9M | $11.6M | ||
| Q4 24 | $49.9M | $11.5M | ||
| Q3 24 | $-19.1M | $10.9M | ||
| Q2 24 | $-12.5M | $9.5M | ||
| Q1 24 | $-10.3M | $9.6M |
| Q4 25 | -147.6% | 55.8% | ||
| Q3 25 | -163.7% | 57.5% | ||
| Q2 25 | -302.9% | 62.6% | ||
| Q1 25 | -466.3% | 52.6% | ||
| Q4 24 | 54.5% | 51.0% | ||
| Q3 24 | -1051.6% | 52.7% | ||
| Q2 24 | -3068.0% | 49.3% | ||
| Q1 24 | — | 50.0% |
| Q4 25 | -147.1% | 43.9% | ||
| Q3 25 | -157.4% | 43.8% | ||
| Q2 25 | -285.6% | 48.0% | ||
| Q1 25 | -425.7% | 39.5% | ||
| Q4 24 | 57.7% | 40.5% | ||
| Q3 24 | -925.0% | 39.4% | ||
| Q2 24 | -2503.2% | 37.1% | ||
| Q1 24 | — | 37.5% |
| Q4 25 | $-0.41 | $1.52 | ||
| Q3 25 | $-0.52 | $1.41 | ||
| Q2 25 | $-0.46 | $1.61 | ||
| Q1 25 | $-0.35 | $1.13 | ||
| Q4 24 | $0.52 | $1.13 | ||
| Q3 24 | $-0.20 | $1.07 | ||
| Q2 24 | $-0.13 | $0.92 | ||
| Q1 24 | $-0.11 | $0.94 |
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 | $114.3M | $345.6M |
| Total Assets | $327.7M | $3.0B |
| 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 | $230.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $114.3M | $345.6M | ||
| Q3 25 | $147.7M | $334.0M | ||
| Q2 25 | $192.3M | $319.8M | ||
| Q1 25 | $229.0M | $306.1M | ||
| Q4 24 | $256.8M | $295.6M | ||
| Q3 24 | $201.0M | $284.3M | ||
| Q2 24 | $215.2M | $273.4M | ||
| Q1 24 | $223.9M | $266.8M |
| Q4 25 | $327.7M | $3.0B | ||
| Q3 25 | $372.8M | $2.9B | ||
| Q2 25 | $313.5M | $2.9B | ||
| Q1 25 | $327.3M | $2.8B | ||
| Q4 24 | $351.2M | $2.7B | ||
| Q3 24 | $217.6M | $2.6B | ||
| Q2 24 | $222.0M | $2.6B | ||
| Q1 24 | $227.6M | $2.6B |
| Q4 25 | 0.84× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | 0.78× | ||
| 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 | $-43.5M | $44.9M |
| Free Cash FlowOCF − Capex | — | $44.3M |
| FCF MarginFCF / Revenue | — | 125.7% |
| Capex IntensityCapex / Revenue | 0.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.90× |
| TTM Free Cash FlowTrailing 4 quarters | — | $81.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-43.5M | $44.9M | ||
| Q3 25 | $-47.0M | $45.5M | ||
| Q2 25 | $-39.6M | $-25.3M | ||
| Q1 25 | $-40.7M | $17.9M | ||
| Q4 24 | $42.0M | $48.0M | ||
| Q3 24 | $-14.5M | $17.7M | ||
| Q2 24 | $-7.3M | $-8.4M | ||
| Q1 24 | $-6.7M | $15.8M |
| Q4 25 | — | $44.3M | ||
| Q3 25 | $-47.2M | $45.3M | ||
| Q2 25 | $-39.6M | $-25.5M | ||
| Q1 25 | $-40.8M | $17.6M | ||
| Q4 24 | $41.7M | $47.3M | ||
| Q3 24 | $-14.6M | $17.5M | ||
| Q2 24 | $-7.3M | $-8.6M | ||
| Q1 24 | $-6.8M | $15.7M |
| Q4 25 | — | 125.7% | ||
| Q3 25 | -145.4% | 138.1% | ||
| Q2 25 | -252.2% | -74.2% | ||
| Q1 25 | -512.1% | 59.9% | ||
| Q4 24 | 48.2% | 166.5% | ||
| Q3 24 | -706.3% | 63.3% | ||
| Q2 24 | -1463.4% | -33.7% | ||
| Q1 24 | — | 61.4% |
| Q4 25 | 0.0% | 1.6% | ||
| Q3 25 | 0.6% | 0.7% | ||
| Q2 25 | 0.3% | 0.5% | ||
| Q1 25 | 1.1% | 1.0% | ||
| Q4 24 | 0.3% | 2.4% | ||
| Q3 24 | 6.8% | 0.5% | ||
| Q2 24 | 7.6% | 0.5% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | 2.90× | ||
| Q3 25 | — | 3.16× | ||
| Q2 25 | — | -1.54× | ||
| Q1 25 | — | 1.54× | ||
| Q4 24 | 0.84× | 4.17× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | -0.89× | ||
| Q1 24 | — | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SPRY
| Products | $20.3M | 72% |
| Other | $7.8M | 28% |
UNTY
Segment breakdown not available.
