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

ARS Pharmaceuticals (SPRY) reported Operating Expenses of $82.8 million for Q1 2026, up 83.45% on a YoY basis from $45.2 million in Q1 2025, and up 19.09% sequentially from $69.6 million in Q4 2025.

ARS Pharmaceuticals (SPRY) Operating Expenses (2020 - 2026) Analysis & Trends

ARS Pharmaceuticals (SPRY) has 7 years of Operating Expenses data on file, last reported at $82.8 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 83.45% year-over-year to $82.8 million; the trailing twelve-month figure through Mar 2026 stood at $301.4 million (up 142.69% YoY), and the FY2025 full-year result was $263.7 million, up 185.94% from the prior year.
  • Operating Expenses grew to $82.8 million in Q1 2026, from $69.6 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $85.7 million in Q3 2025 to a low of $6.8 million in Q2 2022.
  • A 5-year average of $32.0 million and a median of $18.7 million in 2023 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses sank 72.22% in 2022 and surged 299.82% in 2025, its largest moves.
  • Tracing SPRY's Operating Expenses over 5 years: stood at $15.4 million in 2022, then tumbled by 33.78% to $10.2 million in 2023, then jumped by 285.14% to $39.4 million in 2024, then soared by 76.6% to $69.6 million in 2025, then climbed by 19.09% to $82.8 million in 2026.
  • Business Quant data shows SPRY's Operating Expenses at $82.8 million in Q1 2026, $69.6 million in Q4 2025, and $85.7 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Oculis Holding AG 68,785.72 Bn 68,785.72 Bn - -28.01 Mn
2 Nanobiotix 1,895.57 Bn 1,895.51 Bn - -
3 BeOne Medicines 471.35 Bn 466.56 Bn 1.35 Bn 1.10 Bn
4 NuCana 279.75 Bn 279.75 Bn - -3.78 Mn
5 Vertex Pharmaceuticals 120.24 Bn 113.00 Bn 2.59 Bn 1.85 Bn
6 Regeneron Pharmaceuticals 67.80 Bn 59.04 Bn 3.31 Bn 2.96 Bn
7 Belite Bio 62.51 Bn 62.51 Bn - 32.68 Mn
8 Argenx Se 57.38 Bn 57.38 Bn 1.41 Bn 2.89 Bn
9 Revolution Medicines 37.78 Bn 37.78 Bn - 445.22 Mn
10 ARS Pharmaceuticals 595.78 Mn 394.81 Mn - 82.83 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 82.83 Mn
Dec 31, 2025 69.55 Mn
Sep 30, 2025 85.69 Mn
Jun 30, 2025 63.33 Mn
Mar 31, 2025 45.15 Mn
Dec 31, 2024 39.38 Mn
Sep 30, 2024 23.82 Mn
Jun 30, 2024 15.84 Mn
Mar 31, 2024 13.19 Mn
Dec 31, 2023 10.23 Mn
Sep 30, 2023 17.98 Mn
Jun 30, 2023 20.61 Mn
Mar 31, 2023 18.73 Mn
Dec 31, 2022 15.44 Mn
Sep 30, 2022 6.82 Mn
Jun 30, 2022 6.81 Mn
Mar 31, 2022 7.76 Mn
Dec 31, 2021 -41.12 Mn
Sep 30, 2021 22.68 Mn
Jun 30, 2021 24.51 Mn