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Aquestive Therapeutics, Inc. AQST Co-development and research fees — Revenue

Other product segments

Manufacture and supply revenue
$11.91M+24.3%
License and royalty revenue (a)
$1.33M+58.0%
Proprietary product revenue, net
$0

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Other financials

Income statement

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Revenue$13.8M+38.1%
Gross profit$9.8M+80.1%
Operating income-$8.2M+27.7%
Net income-$22.9M-68.8%
EPS (diluted)-$0.18-28.6%

Balance sheet

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Cash & equivalents$98.5M+62.7%
Total debt$63.4M+6.0%
Total equity-$56.6M+22.0%
Total assets$132.1M+41.0%

Cash flow

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Operating cash flow-$9.4M-19.3%
CapEx$212.0K+98.1%
Free cash flow-$9.7M-20.3%

Valuation

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Market cap$494.34M+28.9%
Enterprise value$459.23M+20.0%
P/S9.1×+0.5×

Profitability

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Gross margin67%+5.9pp
Operating margin-97.5%-15.0pp
Net margin-144.6%-2.6pp
FCF margin-85%-17.0pp

Returns & leverage

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Return on equity121.1%
Debt / equity-1.1×
Current ratio7.2×+3.7×

Where this comes from

Reported directly by Aquestive Therapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Aquestive Therapeutics, Inc.’s 10-Q, filed August 11, 2026.

Filed
Aug 11, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001398733-26-000042
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Manufacture and supply revenue$11,911$9,583$20,704$16,776
License and royalty revenue (a)1,3268396,7211,629
Co-development and research fees582378840796
Proprietary product revenue, net(797)(478)
Total revenues$13,819$10,003$28,265$18,723

Item 1. FINANCIAL STATEMENTS (Unaudited)

FAQ

What is Aquestive Therapeutics, Inc.'s co-development and research fees — revenue?
Aquestive Therapeutics, Inc. (AQST) reported co-development and research fees — revenue of $582K in Q2 2026.
How has Aquestive Therapeutics, Inc.'s co-development and research fees — revenue changed year-over-year?
Aquestive Therapeutics, Inc.'s co-development and research fees — revenue increased by 54.0% year-over-year, from $378K to $582K.
What is the long-term trend for Aquestive Therapeutics, Inc.'s co-development and research fees — revenue?
Over 4 years (2021 to 2025), Aquestive Therapeutics, Inc.'s co-development and research fees — revenue has grown at a -6.0% compound annual growth rate (CAGR), from $1.64M to $1.28M.
What does co-development and research fees — revenue mean?
This metric represents the revenue recognized from collaborative research and development arrangements, including milestone payments or service fees earned through partnerships. It reflects the company's ability to monetize its proprietary technology platforms and intellectual property by assisting third parties in drug development. This revenue stream is a key indicator of the company's strategic partnerships and its success in leveraging internal R&D capabilities to generate non-dilutive capital.

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