ARS Pharmaceuticals, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-62.3M | $-60.6M | $-41.3M | $-51.2M | $-44.9M | $-33.9M | $49.9M | $-19.1M |
| Depreciation & Amortization | $416.0K | $397.0K | $417.0K | $391.0K | $279.0K | $280.0K | $-50.0K | $100.0K |
| Depreciation | — | — | — | — | — | — | $29.0K | $21.0K |
| Amortization | $300.0K | $300.0K | $400.0K | $200.0K | $100.0K | $100.0K | $100.0K | $0 |
| Stock-Based Compensation | $12.4M | $7.4M | $5.7M | $5.7M | $5.4M | $5.3M | $4.3M | $3.6M |
| Net Cash from Operating Activities | $-60.9M | $-44.9M | $-43.5M | $-47.0M | $-39.6M | $-40.7M | $42.0M | $-14.5M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | $0 | $197.0K | $51.0K | $91.0K | $302.0K | $140.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $41.6M | $27.8M | $24.1M | $-45.0M | $48.6M | $29.1M | $-101.8M | $16.8M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $3.2M | $159.0K | $1.1M | $100.0M | $2.7M | $725.0K | $70.9M | $680.0K |
| Net Change in Cash | $-16.2M | $-17.0M | $-18.2M | $8.0M | $11.7M | $-11.0M | $11.2M | $3.0M |
| Free Cash Flow | $-60.9M | $-44.9M | $-43.5M | $-47.2M | $-39.6M | $-40.8M | $41.7M | $-14.6M |