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Aquestive Therapeutics, Inc.

AQST

Aquestive Therapeutics is a pharmaceutical company specializing in the development and manufacturing of complex molecule delivery systems that serve as alternatives to invasive standard-of-care therapies.

Market cap
$531.98M+32.9%
Revenue$50.3M-7.3%
Net income-$68.9M-27.1%
Free cash flow-$44.3M+9.6%
EPS (diluted)-$0.62-5.1%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 10, 2026 (In 4 weeks)
Revenue estimate$11.4M
EPS estimate-$0.10

Financials

Q1 2026

Income statement

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Revenue$14.4M+65.7%
Gross profit$11.0M+117%
Operating income-$4.2M+78.3%
Net income-$8.1M+64.9%
EPS (diluted)-$0.07+70.8%

Balance sheet

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Cash & equivalents$110.7M+61.3%
Total debt$64.4M+7.4%
Total equity-$34.1M+44.1%
Total assets$141.1M+38.0%

Cash flow

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Operating cash flow-$14.8M+36.7%
CapEx$52.0K-61.5%
Free cash flow-$14.9M+36.9%

Valuation & ratios

Valuation

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Market cap$531.98M+32.9%
Enterprise value$485.6M+32.4%
P/S10.6×+2.3×

Profitability

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Gross margin63.5%-4.9pp
Operating margin-111.2%+96.3pp
Net margin-137.1%+80.7pp
FCF margin-88.2%-2.2pp

Returns & leverage

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Current ratio4.1×-0.8×

Segments

By product

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Manufacture and supply revenue$8.8M
License and royalty revenue a$5.4M
Co-development and research fees$258.0K
Proprietary product revenue, net-

By segment

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Reportable Segment$14.4M+65.7%

By geography

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United States$13.2M

Competitors

Profile

Aquestive Therapeutics is a pharmaceutical company specializing in the development and manufacturing of complex molecule delivery systems that serve as alternatives to invasive standard-of-care therapies. The company leverages its proprietary PharmFilm and AdrenaVerse technologies to create oral films and prodrug formulations designed for rapid absorption and ease of administration. Their business model combines internal product development with strategic manufacturing and licensing partnerships for global commercialization.

Competitive position

Aquestive is a global leader in oral film drug delivery, having manufactured the majority of the world's prescription oral films.

GeographiesUnited States, Global
Customer segmentsPharmaceutical companies, Patients, Hospitals
Business modelResearch and Development, Contract Manufacturing, Licensing and Royalties
SuppliersActive Pharmaceutical Ingredient (API) suppliers, Polymer and excipient manufacturers, Specialized laboratory equipment providers
CustomersPharmaceutical marketing partners, Wholesale drug distributors, Retail and specialty pharmacies
Listed2018
Employees135.0
CEODaniel Barber
FilingsSEC EDGAR

Questions, answered.

What is Aquestive Therapeutics, Inc.'s market cap?
Aquestive Therapeutics, Inc. (AQST) has a market capitalization of $532.0M and trades on NASDAQ.
What is Aquestive Therapeutics, Inc.'s revenue and profitability?
Aquestive Therapeutics, Inc. generated $50.3M in trailing twelve-month revenue with a net loss of $68.9M, representing a net margin of -137.1%. Gross margin stands at 63.5%, with free cash flow of -$44.3M. These figures are based on the Q1 2026 filing.
Who are Aquestive Therapeutics, Inc.'s competitors?
Aquestive Therapeutics, Inc.'s key competitors include ARS Pharmaceuticals, Inc., Viatris Inc., Indivior PLC, and others. These companies compete in similar markets and product categories.
Where is Aquestive Therapeutics, Inc. headquartered?
Aquestive Therapeutics, Inc. is headquartered in United States of America and employs approximately 135 people. It has been publicly traded since 2018.