FY2025 · ended Dec 31, 2025 · Revenue $44.55M, -22.6% YoY · Filed Mar 4, 2026
Aquestive Therapeutics, Inc. (AQST) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $44.5 million and a net loss of $83.8 million. Free cash flow was -$53.0 million. As of Sep 30, 2026 it held $90.3 million in cash and investments and $63.0 million in total debt.
Revenue (TTM)
$48.84M
+12.5% vs year-ago TTM
Net income (TTM)
$-79.28M
-14.9% vs year-ago TTM
Operating cash flow (TTM)
$-39.76M
+21.2% vs year-ago TTM
Free cash flow (TTM)
$-40.70M
+20.1% vs year-ago TTM
EPS (TTM)
$-0.64
+7.9% vs year-ago TTM
Dividend per share
None
Shares outstanding
122.05M
+23.4% vs prior year
Net cash
$27.37M
as of Sep 30, 2026
Operating margin
-114.1%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- AQST (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Warren, NJ
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1398733
- Former names
- MonoSol Rx, Inc. (until Mar 27, 2008)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $44.5M | $57.6M | $50.6M | $47.7M | $50.8M |
| Operating income | -$71.1M | -$30.8M | -$15.1M | -$42.1M | -$34.7M |
| Net income | -$83.8M | -$44.1M | -$7.9M | -$54.4M | -$70.5M |
| Diluted EPS | -$0.78 | -$0.51 | -$0.13 | -$1.12 | -$1.85 |
| Operating cash flow | -$52.4M | -$35.8M | -$6.4M | -$9.8M | -$33.0M |
| Free cash flow | -$53.0M | -$35.9M | -$7.4M | -$10.8M | -$33.9M |
| Total assets | $160.4M | $101.4M | $57.4M | $57.1M | $62.0M |
| Total liabilities | $194.1M | $161.6M | $163.9M | $175.6M | $144.1M |
| Stockholders' equity | -$33.7M | -$60.2M | -$106.5M | -$118.6M | -$82.1M |
| Cash and investments | $121.2M | $71.5M | $23.9M | $27.3M | $28.0M |
| Total debt | $50.1M | $50.6M | $51.0M | $5.3M | $2.8M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 3, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations, Regulation FD disclosure
|
Nov 3, 2026 | Nov 3, 2026 |
| 8-K |
Current report
Bylaw or fiscal year change
|
Oct 19, 2026 | Oct 15, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Oct 15, 2026 | Oct 15, 2026 |
| 8-K |
Current report
Material agreement
|
Oct 14, 2026 | Oct 13, 2026 |
| 8-K |
Current report
Officer or director change
|
Sep 29, 2026 | Sep 29, 2026 |
All 685 Aquestive Therapeutics, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.