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Aquestive Therapeutics, Inc. AQST Q4 2025 Annual earnings

Reported March 4, 2026 · After market close

Revenue$13.0MMiss by $271.4KDiluted EPS-$0.26Miss by $0.13
Revenue estimate$13.3M
EPS estimate-$0.13

Next report

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

Financials

Q4 2025

Income statement

See full
Revenue$13.0M+9.7%
Gross profit$7.2M-2.3%
Operating income-$28.8M-112%
Net income-$31.9M-86.8%
EPS (diluted)-$0.27-42.1%

Balance sheet

See full
Cash & equivalents$121.2M+69.4%
Total debt$59.6M+17.8%
Total equity-$33.7M+44.0%
Total assets$160.4M+58.2%

Cash flow

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Operating cash flow-$8.5M-30.5%
CapEx$85.0K+467%
Free cash flow-$8.6M-31.5%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$788.14M+143%
Enterprise value$726.59M+139%
P/S17.7×+12.1×

Profitability

See full
Gross margin58.3%-10.6pp
Operating margin-159.5%-322pp
Net margin-188.1%-603pp
FCF margin-119%+1,154pp

Returns & leverage

See full
Current ratio3.1×-1.5×

Segments

By segment

See full
Reportable Segment$13.0M+9.7%

Versus estimates

Revenue

Q1 2026$14.4MBeat by $3.6M
Q4 2025$13.0MMiss by $271.4K
Q3 2025$12.8MMiss by $136.5KQ2 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 $0.07
Q4 2025-$0.26Miss by $0.13
Q3 2025-$0.14Miss by $0.03Q2 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 Q4 2025 earnings?
Aquestive Therapeutics, Inc. (AQST) reported Q4 2025 earnings on March 4, 2026 after market close.
What were Aquestive Therapeutics, Inc.'s Q4 2025 revenue and EPS?
Aquestive Therapeutics, Inc. reported revenue of $13.0M and diluted EPS of $-0.26 for Q4 2025.
Did Aquestive Therapeutics, Inc. beat estimates in Q4 2025?
Revenue missed the consensus estimate of $13.3M by $271.4K. EPS missed the consensus estimate of $-0.13 by $0.13.
How did Aquestive Therapeutics, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.7% from $11.9M a year earlier and diluted EPS declined 36.8% from $-0.19.
Where can I find Aquestive Therapeutics, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0001398733-26-000016) and the 10-K periodic report (0001398733-26-000018) directly on SEC EDGAR. The filing index links above go to sec.gov.