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Side-by-side financial comparison of ARS Pharmaceuticals, Inc. (SPRY) and Veritone, Inc. (VERI). Click either name above to swap in a different company.
ARS Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($28.1M vs $26.6M, roughly 1.1× Veritone, Inc.). Veritone, Inc. runs the higher net margin — -109.8% vs -147.1%, a 37.3% gap on every dollar of revenue. On growth, Veritone, Inc. posted the faster year-over-year revenue change (21.1% 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.
Veritone, Inc. is an American artificial intelligence technology company based in Irvine, California founded in 2014. It serves a variety of industries including media, professional sports teams, federal government agencies, energy utilities, and state and local police departments.
SPRY vs VERI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.1M | $26.6M |
| Net Profit | $-41.3M | $-29.2M |
| Gross Margin | — | — |
| Operating Margin | -147.6% | -68.2% |
| Net Margin | -147.1% | -109.8% |
| Revenue YoY | -67.6% | 21.1% |
| Net Profit YoY | -182.8% | -34.5% |
| EPS (diluted) | $-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 | $26.6M | ||
| Q2 25 | $15.7M | $23.2M | ||
| Q1 25 | $8.0M | $22.5M | ||
| Q4 24 | $86.6M | $22.4M | ||
| Q3 24 | $2.1M | $22.0M | ||
| Q2 24 | $500.0K | $24.1M | ||
| Q1 24 | $0 | $24.2M |
| Q4 25 | $-41.3M | — | ||
| Q3 25 | $-51.2M | $-29.2M | ||
| Q2 25 | $-44.9M | $-26.5M | ||
| Q1 25 | $-33.9M | $-19.9M | ||
| Q4 24 | $49.9M | $31.8M | ||
| Q3 24 | $-19.1M | $-21.7M | ||
| Q2 24 | $-12.5M | $-22.2M | ||
| Q1 24 | $-10.3M | $-25.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 71.2% | ||
| Q2 24 | — | 72.6% | ||
| Q1 24 | — | 70.8% |
| Q4 25 | -147.6% | — | ||
| Q3 25 | -163.7% | -68.2% | ||
| Q2 25 | -302.9% | -82.0% | ||
| Q1 25 | -466.3% | -96.3% | ||
| Q4 24 | 54.5% | -93.8% | ||
| Q3 24 | -1051.6% | -102.3% | ||
| Q2 24 | -3068.0% | -84.4% | ||
| Q1 24 | — | -100.9% |
| Q4 25 | -147.1% | — | ||
| Q3 25 | -157.4% | -109.8% | ||
| Q2 25 | -285.6% | -114.2% | ||
| Q1 25 | -425.7% | -88.5% | ||
| Q4 24 | 57.7% | 141.7% | ||
| Q3 24 | -925.0% | -98.9% | ||
| Q2 24 | -2503.2% | -92.4% | ||
| Q1 24 | — | -104.3% |
| Q4 25 | $-0.41 | — | ||
| Q3 25 | $-0.52 | — | ||
| Q2 25 | $-0.46 | $-0.53 | ||
| Q1 25 | $-0.35 | $-0.41 | ||
| Q4 24 | $0.52 | $0.85 | ||
| Q3 24 | $-0.20 | $-0.57 | ||
| Q2 24 | $-0.13 | $-0.59 | ||
| Q1 24 | $-0.11 | $-0.67 |
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 | $36.2M |
| Total DebtLower is stronger | $96.4M | $35.4M |
| Stockholders' EquityBook value | $114.3M | $15.5M |
| Total Assets | $327.7M | $198.6M |
| Debt / EquityLower = less leverage | 0.84× | 2.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $245.0M | — | ||
| Q3 25 | $288.2M | $36.2M | ||
| Q2 25 | $240.1M | $13.6M | ||
| Q1 25 | $275.7M | $16.1M | ||
| Q4 24 | $314.0M | $16.9M | ||
| Q3 24 | $204.6M | $11.4M | ||
| Q2 24 | $218.7M | $46.0M | ||
| Q1 24 | $223.6M | $90.7M |
| Q4 25 | $96.4M | — | ||
| Q3 25 | $96.2M | $35.4M | ||
| Q2 25 | — | $37.3M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | $0 | $41.2M | ||
| Q3 24 | — | $73.6M | ||
| Q2 24 | — | $75.6M | ||
| Q1 24 | — | $77.5M |
| Q4 25 | $114.3M | — | ||
| Q3 25 | $147.7M | $15.5M | ||
| Q2 25 | $192.3M | $3.5M | ||
| Q1 25 | $229.0M | $14.8M | ||
| Q4 24 | $256.8M | $13.5M | ||
| Q3 24 | $201.0M | $-25.2M | ||
| Q2 24 | $215.2M | $-5.7M | ||
| Q1 24 | $223.9M | $14.9M |
| Q4 25 | $327.7M | — | ||
| Q3 25 | $372.8M | $198.6M | ||
| Q2 25 | $313.5M | $188.1M | ||
| Q1 25 | $327.3M | $199.6M | ||
| Q4 24 | $351.2M | $198.1M | ||
| Q3 24 | $217.6M | $336.4M | ||
| Q2 24 | $222.0M | $321.8M | ||
| Q1 24 | $227.6M | $359.6M |
| Q4 25 | 0.84× | — | ||
| Q3 25 | 0.65× | 2.28× | ||
| Q2 25 | — | 10.71× | ||
| Q1 25 | — | 2.66× | ||
| Q4 24 | 0.00× | 3.06× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 5.21× |
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 | $-15.9M |
| Free Cash FlowOCF − Capex | — | $-17.1M |
| FCF MarginFCF / Revenue | — | -64.2% |
| Capex IntensityCapex / Revenue | 0.0% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-46.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-43.5M | — | ||
| Q3 25 | $-47.0M | $-15.9M | ||
| Q2 25 | $-39.6M | $-8.2M | ||
| Q1 25 | $-40.7M | $-17.0M | ||
| Q4 24 | $42.0M | $-500.0K | ||
| Q3 24 | $-14.5M | $3.6M | ||
| Q2 24 | $-7.3M | $-42.7M | ||
| Q1 24 | $-6.7M | $14.9M |
| Q4 25 | — | — | ||
| Q3 25 | $-47.2M | $-17.1M | ||
| Q2 25 | $-39.6M | $-9.2M | ||
| Q1 25 | $-40.8M | $-18.4M | ||
| Q4 24 | $41.7M | $-1.7M | ||
| Q3 24 | $-14.6M | $1.9M | ||
| Q2 24 | $-7.3M | $-44.1M | ||
| Q1 24 | $-6.8M | $13.1M |
| Q4 25 | — | — | ||
| Q3 25 | -145.4% | -64.2% | ||
| Q2 25 | -252.2% | -39.6% | ||
| Q1 25 | -512.1% | -81.9% | ||
| Q4 24 | 48.2% | -7.4% | ||
| Q3 24 | -706.3% | 8.6% | ||
| Q2 24 | -1463.4% | -183.4% | ||
| Q1 24 | — | 54.2% |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.6% | 4.6% | ||
| Q2 25 | 0.3% | 4.1% | ||
| Q1 25 | 1.1% | 6.0% | ||
| Q4 24 | 0.3% | 5.2% | ||
| Q3 24 | 6.8% | 7.7% | ||
| Q2 24 | 7.6% | 5.9% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.84× | -0.02× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
VERI
| Software Products And Services | $20.9M | 78% |
| Other | $2.3M | 9% |
| Public Sector | $2.0M | 7% |
| Representation Services | $1.5M | 6% |
