ARS Pharmaceuticals (SPRY) Operating Expenses (2020 - 2026)

Over the trailing twelve months to Jun 30, 2026, ARS Pharmaceuticals reported Operating Expenses of $333.19 million, up 94.1% year-over-year; for FY2025, it came in at $263.73 million, up 185.9% from FY2024.

• Operating Expenses has increased in each of the last four years, with a five-year compound annual growth rate of 51.6% (FY2020 to FY2025).
• Going back by year, Operating Expenses was $92.23 million in FY2024 (+36.5%), $67.55 million in FY2023 (+83.4%), $36.83 million in FY2022 (+47.6%) and $24.96 million in FY2021 (-24.2%).
• The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q1 2020.
• Year-over-year, Operating Expenses has increased for eight consecutive quarters, with growth averaging 166.2% over the last eight quarters.
• The fastest year-over-year change in Operating Expenses over five years came in Q2 2025 (growth of 299.8%), and the weakest in Q2 2022 (a decline of 72.2%).
• Business Quant data shows SPRY's Operating Expenses at $82.83 million (Q1 2026), $69.55 million (Q4 2025) and $85.69 million (Q3 2025) in the three quarters before Q2 2026.