Aquestive Therapeutics, Inc. (AQST)
NASDAQ:AQST
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.11Last Year’s EPS
-0.14Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call contained multiple strong positives: substantive regulatory progress, a completed Phase I safety study with promising directional biomarkers for AQST-108, materially improved Q1 financials (revenues +66%, sharply reduced net loss and non-GAAP EBITDA loss), a strengthened liquidity position via a $150M Oaktree facility and RTW extension, and active commercial and medical affairs preparations (75-person sales force plan, conference/publication program). The primary negatives are the existing FDA CRL requirements (human factors and PK studies) that make resubmission timing dependent on FDA responses, expected challenges around payer coverage and physician-office friction at launch, the one-time nature of a portion of Q1 royalty revenue, and conditional access to some debt tranches. Overall, the positives (regulatory path clarity in progress, improved financials, strong liquidity, promising pipeline signal, and concrete launch planning) outweigh the risks and remaining obstacles, though execution on studies, FDA timelines, and market access remain critical.Company Guidance
Regulatory Progress Toward Anaphylm Resubmission
Completed a Type A face-to-face meeting with the FDA, completed a teleconference with the U.K. MHRA, submitted a pediatric investigational plan to the EMA, and submitted the human factors protocol to the FDA. Company guides to availability of human factors data and potentially PK data by the August earnings call and currently expects a Q3 2026 NDA resubmission (company expects a Type 2 submission with a 6-month review, while pursuing expedited review).
Significant Improvement in Q1 Financial Performance
Total revenues rose to $14.4M in Q1 2026 from $8.7M in Q1 2025, an increase of ~66%. License & royalty revenue increased to $5.4M from $0.8M; manufacturing & supply revenue rose to $8.8M from $7.2M (~+22%). Net loss narrowed to $8.1M ($0.07/share) vs $22.9M ($0.24/share) a year ago (~64.6% reduction). Non-GAAP adjusted EBITDA loss improved to -$1.7M vs -$17.6M in Q1 2025 (large sequential improvement).
Strengthened Liquidity and Financing Flexibility
Closed a $150M debt facility with Oaktree: Tranche A $55M (refinance), Tranche B $20M (available upon FDA approval), Tranche C $25M (sales milestone), Tranche D $50M (mutual consent). Refinancing lowers interest rate and extends interest-only period, saving ~$45M in principal payments over the next 3 years. RTW strategic funding agreement extended to June 30, 2027. Company projects >$150M in cash at launch when combining existing cash, RTW, and financing sources; ended Q1 with ~$110M in cash and cash equivalents.
AQST-108 Phase I Safety and Encouraging Biomarker Signal
Completed Phase I safety study for AQST-108 in men with androgenic alopecia: no drug-related adverse events observed and no appreciable systemic absorption of prodrug or epinephrine. Directional biomarker signal observed (TSLP impacted in subjects with alopecia vs placebo), suggestive of potential broad topical immunomodulatory activity and optionality across dermatologic indications (directional, not statistically powered).
Commercial Preparation and Medical Affairs Momentum
Ongoing commercial preparations for Anaphylm: planning a 75-person U.S. sales force, strong medical affairs presence, and best-in-class hub/patient support. High engagement plan includes attendance at >40 conferences and submission of >20 publications in 2026. Market research shows HCP awareness of product rising from ~33% to ~66%.
Disciplined Expense Management
Q1 2026 R&D expenses decreased to $4.2M from $5.4M (down ~22%) driven by lower clinical trial costs for Anaphylm; SG&A decreased to $11.0M from $19.1M (down ~42%), largely due to the prior-year PDUFA fee and lower legal and commercial spend, contributing to improved net loss and EBITDA results.
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 |
|---|---|---|---|
May 13, 2026 | $4.13 | $4.73 | +14.53% |
Mar 04, 2026 | $4.37 | $4.26 | -2.52% |
Nov 05, 2025 | $6.00 | $6.13 | +2.17% |
Aug 11, 2025 | $3.86 | $3.78 | -2.07% |
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, Inc. (AQST) report earnings?
Aquestive Therapeutics, Inc. (AQST) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Aquestive Therapeutics, Inc. (AQST) earnings time?
Aquestive Therapeutics, Inc. (AQST) earnings time is at Aug 04, 2026, After Close (Confirmed).
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What is AQST EPS forecast?
AQST EPS forecast for the fiscal quarter 2026 (Q2) is -0.11.