Stocks Health care AQST
NASDAQ · Health careAquestive Therapeutics, Inc. (AQST)
Aquestive Therapeutics, Inc. brought in $48.8M of revenue over the twelve months to September 30, 2026, up 12.5% from a year earlier. It posted a net loss of $79.3M. In fiscal 2025 capital spending exceeded operating cash flow by $53M. At September 30, 2026 it held $90.3M in cash against $55M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 3, 2026.
Key facts about Aquestive Therapeutics, Inc.
- Net worth
- Aquestive Therapeutics, Inc. has a market value (market cap) of $444.3M at the latest share price, and shareholders' equity of -$70.8M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $44.5M (-22.6% year on year), with a net loss of $83.8M. Over the 12 months to September 30, 2026: revenue $48.8M, net loss $79.3M.
- Cash flow
- In fiscal 2025 operations used $52.4M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 3, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Aquestive Therapeutics, Inc.'s next report is expected around March 3, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Aquestive Therapeutics, Inc. does
Aquestive Therapeutics, Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker AQST.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $44.5M | -$83.8M | -$0.78 | -$53M |
| 2024 | $57.6M | -$44.1M | -$0.51 | -$35.9M |
| 2023 | $50.6M | -$7.9M | -$0.13 | -$7.4M |
| 2022 | $47.7M | -$54.4M | -$1.12 | -$10.8M |
| 2021 | $50.8M | -$70.5M | -$1.85 | -$33.9M |
| 2020 | $45.8M | -$55.8M | -$1.66 | -$46M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where AQST ranks in Health care
Latest SEC filings
What Aquestive Therapeutics, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026
- November 3, 2026Quarterly report 10-Q · period to September 30, 2026Revenue fell 41% to $7.6M versus the same quarter last year; diluted EPS -$0.13 versus -$0.14.
- November 3, 2026
- October 19, 2026
- October 15, 2026
- October 14, 2026
- October 7, 2026Passive stake (5% or more) SCHEDULE 13G
- October 7, 2026Passive stake changed SCHEDULE 13G/A
- September 29, 2026Executive or director change8-KAquestive Therapeutics appointed Richard J. Daly to its Board of Directors effective October 14, 2026.
- September 25, 2026
Insider trades
What the people running Aquestive Therapeutics, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $378.9K worth of shares in the last 90 days and bought none on the open market. All of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 21, 2026 | Cochran JohnDirector | Other change | 62,229 | - |
| October 15, 2026 | Barber DanielPresident and CEO, Director | Soldpre-planned (10b5-1) | 25,000 | $105.6K |
| September 15, 2026 | Barber DanielPresident and CEO, Director | Soldpre-planned (10b5-1) | 25,000 | $120.5K |
| September 9, 2026 | Korczynski SherryChief Commercial Officer | Exercised options | 8,750 | $23.2K |
| September 9, 2026 | Korczynski SherryChief Commercial Officer | Soldpre-planned (10b5-1) | 8,750 | $45.7K |
| September 9, 2026 | Boyd Peter E.Chief People Officer | Exercised options | 2,293 | $2.2K |
| September 8, 2026 | Barber DanielPresident and CEO, Director | Exercised options | 91,743 | $88.1K |
| September 3, 2026 | Jung CassieChief Operating Officer | Exercised options | 4,587 | $4.4K |
Who owns AQST
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Bass Edward P13G, passive with 1 related filers | 7.5% | October 7, 2026 |
| RTW Investments, LP13G, passive with 1 related filers | 5.2% | November 14, 2025 |
Largest institutional holders
Insiders
11 insiders reported holding 2,578,280 shares in total, about $9.1M at the last price.
| Holder | Shares |
|---|---|
| Barber DanielPresident and CEO, Director | 627,317 |
| Boyd Peter E.Chief People Officer | 284,024 |
| Toth A Ernest JrChief Financial Officer | 283,460 |
| Cioffi MelinaSVP, Regulatory Affairs | 273,200 |
| Korczynski SherryChief Commercial Officer | 235,689 |
| Braender Lori JCorporate Secretary | 231,042 |
| Jung CassieChief Operating Officer | 206,833 |
| Cochran JohnDirector | 161,715 |
| Davis Matthew W.Chief Development Officer | 100,000 |
| Zalewski Thomas A.Chief Legal Officer | 100,000 |
Questions about AQST
What does Aquestive Therapeutics, Inc. do?
Aquestive Therapeutics, Inc. is a company in the Health care sector, listed on NASDAQ as AQST. Its shares trade on NASDAQ under the ticker AQST.
What is Aquestive Therapeutics, Inc.'s net worth?
Aquestive Therapeutics, Inc. has a market value (market cap) of $444.3M at the latest share price, and shareholders' equity of -$70.8M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Aquestive Therapeutics, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $79.3M on revenue of $48.8M.
How much revenue does Aquestive Therapeutics, Inc. make?
Over the twelve months to September 30, 2026 Aquestive Therapeutics, Inc. reported revenue of $48.8M. That is 12.5% more than a year earlier.
When did Aquestive Therapeutics, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 3, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the investor disclosure from November 5, 2026.
When is Aquestive Therapeutics, Inc.'s next earnings report?
Aquestive Therapeutics, Inc.'s next report is expected around March 3, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Aquestive Therapeutics, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.