NASDAQ$AQST

Aquestive Therapeutics Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

AQST reported Q4 2025 net sales/revenue of $13.0M, a net loss of $31.9M.

For Q4 2025, AQST reported Revenue/net sales were $13.0M, net loss was $31.9M. Management discusses segment performance, liquidity, and outlook in the earnings filing.

  • Revenue/net sales $13.0M for Q4 2025.
  • Net loss $31.9M.
  • MD&A covers capital allocation, costs, and sector risks.

Headline financials

Total Revenue

$13M

Previous: $11.9M+9.2%
EPS (adj)

-$0.15

Previous: -$0.19+21.1%
Adj. EBITDA Loss

$14.1M

No prior period
Gross Margin

55.0%

No prior period
Non-GAAP Gross Margin

57.0%

No prior period
Doses Manufactured

47.0M

No prior period
Net Income

-$31.9M

Previous: -$17.1M-86.9%
Operating Income

-$28.8M

Previous: -$13.6M-112.4%
Gross Profit

$7.18M

Previous: $7.35M-2.3%

Revenue & EPS history

Aquestive · Revenue · Quarterly

$13M

Q4 2025+9.2%vs Q4 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Forward guidance

The filing discusses operating priorities, liquidity, and sector risks; numeric multi-quarter bridges vary by issuer.

Tailwinds

  • MD&A highlights strategic priorities and cash runway.
  • Pipeline, product, or segment commentary supports the narrative.

Headwinds

  • Ongoing losses or impairment charges for pre-profit names.
  • Macro, rates, or input costs may pressure margins.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.4%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+8.5%

Avg return

30 days after

45%

14 / 31 earnings

Positive

+22.8%

Q3 2019

Best reaction

-44.2%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.2%-1.0%+0.0%
Q4 2025-2.5%-3.9%-5.5%
Q3 2025+2.0%-5.2%+6.3%
Q1 2025-19.4%-16.5%+16.1%
Q4 2024-7.5%-5.4%-2.9%
Q3 2024-13.8%-1.1%-21.9%
Q2 2024+4.3%+4.3%+28.6%
Q1 2024-11.7%-11.7%-19.7%
Q4 2023+20.3%+16.7%-0.5%
Q3 2023+6.9%+5.0%+28.7%
Q2 2023-7.2%-7.2%-24.4%
Q1 2023+20.9%+46.8%+66.2%
Q4 2022+5.6%-1.4%+45.3%
Q3 2022-3.4%+0.6%+7.5%
Q2 2022-2.2%+2.7%+50.5%
Q1 2022+0.7%-14.2%-32.6%
Q4 2021-4.8%-12.6%-18.0%
Q3 2021+12.6%+10.7%+2.7%
Q2 2021+11.2%+12.1%+39.6%
Q1 2021-3.3%-14.1%-6.8%
Q4 2020+11.5%+24.6%+11.5%
Q3 2020+3.6%+4.9%+29.6%
Q2 2020+4.0%+10.5%+26.5%
Q1 2020-4.0%+14.4%+14.2%
Q4 2019-44.2%-55.2%-16.0%
Q3 2019+22.8%+26.8%+95.8%
Q2 2019+12.5%+22.7%+14.1%
Q1 2019-11.4%-14.9%-29.9%
Q4 2018-14.4%-8.3%-18.7%
Q3 2018-1.1%-7.8%-15.1%
Q2 2018-0.3%+5.3%-7.7%
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017

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