Aquestive Therapeutics, Inc. (AQST)

Aquestive Therapeutics Financials Overview

Financials in millions USD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	54.09	44.55	57.56	50.58	47.68	50.83
Revenue Growth	22.56%	-22.61%	13.79%	6.09%	-6.20%	10.87%
Gross Profit Gross Profit Growth	36.26	25.99	39.69	29.75	28.29	35.84
Operating Income Operating Income Growth	-52.75	-71.05	-30.77	-15.1	-42.07	-34.68
Net Income Net Income Growth	-78.23	-83.78	-44.14	-7.87	-54.41	-70.54
Earnings Per Share EPS Growth	-0.65	-0.78	-0.51	-0.13	-1.12	-1.85
EPS Growth	-	-	-	-	-	-

Revenue by Geography

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
United States United States Growth	43.75	29.6	39.93	37.1	40.79	42.86
Ex-United States Ex-United States Growth	10.34	14.94	17.63	13.48	6.89	7.97
Total Total Growth	54.09	44.55	57.56	50.58	47.68	50.83

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	98.49	121.17	71.55	23.87	27.27	28.02
Total Debt Total Debt Growth	59.03	42.48	38	33.32	57.49	56.42
Net Cash (Debt) Net Cash Growth	39.46	78.69	33.54	-9.45	-30.22	-28.4
Net Cash Growth	94.59%	134.59%	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	0.33	0.74	0.39	-0.15	-0.62	-0.75

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	-45.37	-52.43	-35.76	-6.38	-9.82	-32.98
Capital Expenditures CapEx Growth	-0.58	-0.56	-0.16	-1	-1.02	-0.91
Free Cash Flow Free Cash Flow Growth	-45.95	-52.99	-35.92	-7.38	-10.84	-33.89
Free Cash Flow Growth	-	-	-	-	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	67.04%	58.34%	68.95%	58.82%	59.34%	70.51%
Operating Margin	-97.52%	-159.50%	-53.46%	-29.86%	-88.23%	-68.22%
Pretax Margin	-144.63%	-188.09%	-76.70%	-15.07%	-114.11%	-138.77%
Profit Margin	-144.63%	-188.09%	-76.68%	-15.56%	-114.12%	-138.77%
FCF Margin	-84.95%	-118.97%	-62.40%	-14.58%	-22.74%	-66.67%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 17, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PS Ratio	9.86	17.69	5.64	2.67	1.02	3.07

Data Source: S&P Global Market Intelligence Last updated: Aug 11, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 17, 2026

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