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Aquestive Therapeutics (AQST)
NASDAQ:AQST
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.14Last Year’s EPS
-0.24Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveys a cautiously optimistic operational and regulatory outlook: management has clarified a concrete plan and timeline to address the FDA's CRL, strengthened the clinical and commercial teams, secured additional investor support and maintains a healthy cash balance entering 2026. However, financial performance shows materially wider losses and negative adjusted EBITDA versus prior year, driven by increased SG&A (notably legal and prelaunch commercial spending), and approval still depends on completing and executing additional studies that create timing and execution risk. Competitive pressures and meaningful near-term cash burn temper the enthusiasm.Company Guidance
Clear regulatory path and timeline for ANNAFILM resubmission
Company submitted a Type A meeting request with the FDA and expects the meeting within ~30 days; plans to resubmit the NDA in Q3 2026 and has selected CROs and written protocols for the required human factors and supportive PK studies.
Operational progress and packaging updates
Modified packaging to improve pouch opening (no impact on stability), contracted CROs, prepared human factors validation study and PK study, and has optional trial designs ready to align with FDA feedback.
Strengthened clinical and medical affairs team
Added Dr. Matt Greenhawk (Chief Medical Officer) and Dr. Matthew Davis (Chief Development Officer), and is more than doubling medical affairs headcount to increase conferences, publications and physician education.
Commercial launch planning ramped up (75 reps)
Guiding to launch with ~75 sales reps (50% increase vs prior guidance of 50 reps) to achieve greater reach and reduce territory white space; contingent hiring planned pre-approval for rapid deployment.
Financing and cash position
Ended 12/31/2025 with $121.2M cash; closed an $85.0M equity raise in 2025; RTW extended revenue-share agreement through 06/30/2027 and committed an additional $5.0M investment, leaving a $75.0M revenue-interest financing facility available upon approval.
Revenue trends — Q4 improvement and FY context
Total revenues for Q4 2025 were $13.0M vs $11.9M in Q4 2024, a ~10% increase primarily driven by manufacturer & supply revenue ($12.0M vs $10.7M). Full-year 2025 revenue was $44.5M; excluding a one-time deferred revenue recognition in 2024, FY revenue declined modestly by $1.5M (≈3%).
R&D cost reductions and pipeline progress
R&D expenses decreased to $3.2M in Q4 2025 from $4.9M in Q4 2024 and to $17.2M for FY 2025 from $20.3M in FY 2024; opened an IND for AQST-108 (Dec 2025), completed dosing of initial safety study and expects topline clinical data in the near term.
Market backdrop and demand signals
Overall epinephrine market grew just over 9% in 2025 and auto-injector prescriptions grew ~5%; management reports >90% of prescriptions remain with auto-injectors and strong allergist interest for an oral film alternative, citing positive reception at Quad AI.
Legal distractions reduced
Reached a settlement in a nine-year defamation lawsuit and removed a distraction from the business; noted this is the fourth case withdrawn, dismissed, or settled over the last four years.
AQST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AQST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $4.37 | ― | ― |
Nov 05, 2025 | $6.00 | $6.13 | +2.17% |
Aug 11, 2025 | $3.86 | $3.78 | -2.07% |
May 12, 2025 | $2.85 | $2.29 | -19.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Aquestive Therapeutics (AQST) report earnings?
Aquestive Therapeutics (AQST) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is Aquestive Therapeutics (AQST) earnings time?
Aquestive Therapeutics (AQST) earnings time is at May 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AQST EPS forecast?
AQST EPS forecast for the fiscal quarter 2026 (Q1) is -0.14.