Mesoblast vs ARS Pharmaceuticals
Mesoblast is the larger business, with $120m of revenue in fiscal 2026 against $84.3m for ARS Pharmaceuticals (1.4 times as much). Mesoblast grew faster (599.2% against -5.5%). Mesoblast kept more of each dollar of sales as profit: a net margin of -47.8% against -203.3%.
| Latest fiscal year | MesoblastMESO, 2026 | ARS PharmaceuticalsSPRY, 2025 |
|---|---|---|
| Revenue | $120m | $84.3m |
| Revenue growth | 599.2% | -5.5% |
| Net income | −$57.5m | −$171m |
| Operating margin | — | — |
| Net margin | -47.8% | -203.3% |
| Return on equity | -9.9% | -92.3% |
| Free cash flow | −$44.7m | −$171m |
| Cash | $103m | $41.3m |
| Total debt | $130m | $96.4m |
| Debt to equity | 22.8% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 158 |
| Market value | $1.91bn | $298m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 24 buys, 0 sales | 0 buys, 5 sales |