Aquestive Therapeutics Inc (AQST) financials
Aquestive Therapeutics revenue and earnings by year
Aquestive Therapeutics's revenue was $44.5 million in the fiscal year to December 31, 2025, down 22.6% from the year before. Net income was -$83.8 million, -188.1% of revenue. Since the fiscal year to December 31, 2016, revenue has shrunk 1.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 45 | 58 | 51 | 48 | 51 | 46 | 53 | 67 | 67 | 52 |
| Revenue growth | -22.6% | 13.8% | 6.1% | -6.2% | 10.9% | -12.8% | -22.0% | 0.8% | 29.2% | — |
| Gross profit | 26 | 40 | 30 | 28 | 36 | 33 | 32 | 46 | 47 | 35 |
| Gross margin | 58.3% | 69.0% | 58.8% | 59.3% | 70.5% | 71.7% | 61.3% | 68.9% | 70.4% | 68.4% |
| Operating income | -71 | -31 | -15 | -42 | -35 | -43 | -53 | -49 | -0 | -1 |
| Operating margin | -159.5% | -53.5% | -29.9% | -88.2% | -68.2% | -93.6% | -100.1% | -72.6% | -0.2% | -1.8% |
| Net income | -84 | -44 | -8 | -54 | -71 | -56 | -66 | -61 | -9 | -10 |
| Net margin | -188.1% | -76.7% | -15.6% | -114.1% | -138.8% | -121.7% | -125.9% | -91.0% | -13.4% | -18.5% |
| Diluted EPS | -$0.78 | -$0.51 | -$0.13 | -$1.12 | -$1.85 | -$1.66 | -$2.61 | -$2.78 | — | — |
| Free cash flow | -53 | -36 | -7 | -11 | -34 | -46 | -61 | -15 | 4 | -9 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open AQST in Markets.
How Aquestive Therapeutics makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Manufacture & Supply Revenue | $11.9M | 86.2% |
| License & Royalty Revenue | $1.33M | 9.6% |
| Co Development & Research Fees | $582K | 4.2% |
See also: AQST returns
No forecast, no recommendation. This page describes Aquestive Therapeutics Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.