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Aquestive Therapeutics, Inc. AQST Q3 2025 earnings

Reported November 5, 2025 · After market close

Revenue$12.8MMiss by $136.5KDiluted EPS-$0.14Miss by $0.03
Revenue estimate$12.9M
EPS estimate-$0.11

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$12.8M-5.4%
Gross profit$8.3M-8.8%
Operating income-$11.5M-38.5%
Net income-$15.4M-34.2%
EPS (diluted)-$0.14-7.7%

Balance sheet

See full
Cash & equivalents$129.1M+65.7%
Total debt$59.6M+17.9%
Total equity-$4.1M+91.0%
Total assets$163.6M+48.7%

Cash flow

See full
Operating cash flow-$12.6M-6.5%
CapEx$235.0K+194%
Free cash flow-$12.9M-7.7%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$676.24M+49.1%
Enterprise value$606.83M+42.4%
P/S15.6×+7.9×

Profitability

See full
Gross margin60.3%-9.1pp
Operating margin-128.6%-210pp
Net margin-158.9%-400pp
FCF margin-117.4%-10,227pp

Returns & leverage

See full
Current ratio5.9×-0.4×

Segments

By product

See full
Manufacture and supply revenue$11.5M+7.5%
License and royalty revenue a$1.0M-52.0%
Co-development and research fees$302.0K-38.6%

By segment

See full
Reportable Segment$12.8M-5.4%

Versus estimates

Revenue

Q1 2026$14.4MBeat by $3.6MQ4 2025$13.0MMiss by $271.4K
Q3 2025$12.8MMiss by $136.5K
Q2 2025$10.0MMiss by $2.2MQ1 2025$8.7MMiss by $3.5MQ4 2024$11.9MMiss by $1.2M

Diluted EPS

Q1 2026-$0.07Beat by $0.07Q4 2025-$0.26Miss by $0.13
Q3 2025-$0.14Miss by $0.03
Q2 2025-$0.14Beat by $0.04Q1 2025-$0.24Miss by $0.07Q4 2024-$0.19Miss by $0.05

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Questions, answered.

When did Aquestive Therapeutics, Inc. report Q3 2025 earnings?
Aquestive Therapeutics, Inc. (AQST) reported Q3 2025 earnings on November 5, 2025 after market close.
What were Aquestive Therapeutics, Inc.'s Q3 2025 revenue and EPS?
Aquestive Therapeutics, Inc. reported revenue of $12.8M and diluted EPS of $-0.14 for Q3 2025.
Did Aquestive Therapeutics, Inc. beat estimates in Q3 2025?
Revenue missed the consensus estimate of $12.9M by $136.5K. EPS missed the consensus estimate of $-0.11 by $0.03.
How did Aquestive Therapeutics, Inc.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 5.4% from $13.5M a year earlier and diluted EPS declined 7.7% from $-0.13.
Where can I find Aquestive Therapeutics, Inc.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001398733-25-000027) and the 10-Q periodic report (0001398733-25-000028) directly on SEC EDGAR. The filing index links above go to sec.gov.