Aquestive Reports Q1 Revenue of $14.45M, Beating Consensus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy AQST?
Reports Q1 revenue $14.45M, consensus $10.9M. "We made rapid and meaningful progress in the first quarter," said Daniel Barber, President and Chief Executive Officer of Aquestive. "We successfully completed our Type A meeting with the FDA, aligning on the study designs needed to support resubmission of the Anaphylm NDA, which we continue to target for the third quarter of 2026. In parallel, our commercial readiness efforts continue. We are making the most of this time by driving awareness of Anaphylm among healthcare professionals. We are building momentum for our AdrenaVerse(TM) platform and are excited by the recent results from our AQST-108 phase 1 study. Financially, we have taken steps to further strengthen our balance sheet and extend our cash runway, and we believe we are well-positioned to execute on our key objectives in 2026 and beyond."
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Analyst Views on AQST
Wall Street analysts forecast AQST stock price to rise
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 4.730
Low
6.00
Averages
9.00
High
12.00
Current: 4.730
Low
6.00
Averages
9.00
High
12.00
About AQST
Aquestive Therapeutics, Inc. is a pharmaceutical company. The Company is engaged in developing orally administered and topical gel products to deliver complex molecules, providing novel alternatives to invasive and inconvenient standard of care therapies. It has four commercialized products marketed by the Company’s licensees in the United States and around the world and is the manufacturer of these licensed products. The Company also collaborates with pharmaceutical companies to bring new molecules to market using proprietary technologies, including PharmFilm, and has proven drug development and commercialization capabilities. The Company is advancing a late-stage proprietary product candidate for the treatment of severe allergic reactions, including anaphylaxis, and an early-stage epinephrine prodrug topical gel product candidate for various possible dermatology conditions. Its portfolio includes Anaphylm, AQST-108, Libervant, Suboxone, and Emylif.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
AQST Reports 66% Revenue Growth in Q1 2026
- Significant Revenue Growth: AQST reported total revenues of $14.4 million in Q1 2026, a 66% increase from $8.7 million in Q1 2025, reflecting strong performance in licensing and royalty revenues, which boosts market confidence.
- Enhanced Financial Flexibility: The company secured a $150 million debt facility with Oak Tree, improving interest rate terms and extending the interest-only period, thereby enhancing financial flexibility to support future R&D and market expansion.
- Reduced R&D Expenses: AQST's research and development expenses decreased to $4.2 million in Q1 2026 from $5.4 million in Q1 2025, indicating progress in cost control that aids in improving overall financial health.
- Improved Net Loss: Although AQST reported a net loss of $8.1 million in Q1 2026, this represents a significant improvement from a net loss of $22.9 million in Q1 2025, demonstrating positive changes in the company's financial outlook.
See More
Aquestive Therapeutics Q1 2026 Earnings Call Insights
- FDA Meeting Progress: In the last 62 days, Aquestive Therapeutics completed a face-to-face meeting with the FDA and submitted its pediatric investigational plan and human factors protocol, with human factors data expected by the August earnings call, indicating proactive steps in the drug approval process.
- Improved Financials: Total revenues for Q1 2026 reached $14.4 million, a significant increase from $8.7 million in Q1 2025, primarily driven by growth in licensing and royalty revenues, reflecting the company's competitive position and heightened product demand in the market.
- Successful Debt Financing: The company secured a $150 million debt facility with Oaktree, projecting over $150 million in cash at launch, which provides robust financial backing for the upcoming Anaphylm product launch and mitigates financial risks.
- Clear Market Strategy: The company plans to establish a 75-person sales force and implement a strong marketing strategy post-FDA approval, demonstrating confidence in the successful launch of Anaphylm while emphasizing the importance of addressing market demand.
See More
Aquestive Therapeutics Q1 Earnings Beat Expectations
- Strong Earnings Report: Aquestive Therapeutics reported a Q1 GAAP EPS of -$0.07, beating expectations by $0.07, indicating an improvement in profitability despite still being in the red.
- Significant Revenue Growth: The company achieved $14.4 million in revenue for the first quarter, representing a 65.5% year-over-year increase and exceeding market expectations by $3.5 million, demonstrating robust product demand and strong market performance.
- Narrowed EBITDA Loss: The non-GAAP adjusted EBITDA loss for Q1 2026 was $1.7 million, a substantial improvement from the $17.6 million loss in Q1 2025, reflecting enhanced cost control and operational efficiency.
- Healthy Cash Position: As of March 31, 2026, the company reported cash and cash equivalents of $110.7 million, ensuring operational and investment capacity for the upcoming year, supporting its ongoing market expansion plans.
See More
Aquestive Therapeutics Q1 Earnings Announcement Scheduled
- Earnings Announcement Schedule: Aquestive Therapeutics is set to announce its Q1 earnings on May 13th after market close, with consensus EPS estimate at -$0.14 and revenue forecast at $10.9 million, reflecting a 25.3% year-over-year growth.
- Earnings Estimate Fluctuations: Over the past three months, EPS estimates have seen one upward revision and one downward revision, while revenue estimates have experienced one upward and two downward revisions, indicating market uncertainty regarding the company's performance.
- Anaphylm Product Launch Plans: The company plans to launch 75 units of Anaphylm and targets revenue between $46 million and $50 million in 2026, showcasing its potential for doubling growth in medical affairs.
- Q4 2025 Earnings Review: In the recent Q4 2025 earnings report, GAAP EPS was -$0.26, missing estimates by $0.13, while revenue of $13 million fell short of the expected $13.28 million, highlighting financial challenges faced by the company.
See More
Aquestive Therapeutics Secures $150 Million Debt Facility for Anaphylm Launch
- Enhanced Financing Flexibility: Aquestive Therapeutics has secured a new $150 million debt facility with Oaktree Capital Management, where the initial $55 million is allocated to repay an existing $45 million loan plus associated fees, significantly enhancing the company's financial flexibility for future product launches.
- Structured Funding Allocation: An additional $20 million will be available upon FDA approval of Anaphylm, with $25 million accessible upon achieving specific sales milestones, and a final tranche of up to $50 million, providing multiple layers of financial support to ensure ongoing product development.
- Reduced Interest Burden: The new financing agreement reduces the company's principal repayments from $45 million to zero over the next three years while lowering interest rates, significantly alleviating financial burdens and providing greater capital for long-term growth.
- Strategic Partnership Outlook: Oaktree's support for this transaction underscores its commitment to innovative drug development, and this financing will enable Aquestive to promote Anaphylm globally, which is expected to offer transformative rescue treatment for patients suffering from severe allergic reactions, further solidifying its market position in the biopharmaceutical sector.
See More
Rosen Law Firm Reminds of Aquestive Class Action
- Class Action Notice: Rosen Law Firm reminds investors who purchased Aquestive Therapeutics (NASDAQ:AQST) securities between June 16, 2025, and January 8, 2026, that they must apply to be lead plaintiff by May 4, 2026, to represent other class members in the lawsuit.
- Fee Arrangement: Investors participating in the class action will incur no out-of-pocket fees or costs, as all expenses will be handled through a contingency fee arrangement, which reduces financial risk for investors and encourages broader participation.
- Law Firm Background: Rosen Law Firm specializes in securities class actions and has recovered over $438 million for investors in 2019 alone, demonstrating its expertise and success in handling such cases, which investors should consider when selecting legal counsel.
- Case Details: The lawsuit alleges that Aquestive concealed the true state of its New Drug Application, leading to investor losses when the market became aware of the facts, highlighting the importance of transparency and disclosure in securities investment.
See More
AQST Reports 66% Revenue Growth in Q1 2026
- Significant Revenue Growth: AQST reported total revenues of $14.4 million in Q1 2026, a 66% increase from $8.7 million in Q1 2025, reflecting strong performance in licensing and royalty revenues, which boosts market confidence.
- Enhanced Financial Flexibility: The company secured a $150 million debt facility with Oak Tree, improving interest rate terms and extending the interest-only period, thereby enhancing financial flexibility to support future R&D and market expansion.
- Reduced R&D Expenses: AQST's research and development expenses decreased to $4.2 million in Q1 2026 from $5.4 million in Q1 2025, indicating progress in cost control that aids in improving overall financial health.
- Improved Net Loss: Although AQST reported a net loss of $8.1 million in Q1 2026, this represents a significant improvement from a net loss of $22.9 million in Q1 2025, demonstrating positive changes in the company's financial outlook.
See More
Aquestive Therapeutics Q1 2026 Earnings Call Insights
- FDA Meeting Progress: In the last 62 days, Aquestive Therapeutics completed a face-to-face meeting with the FDA and submitted its pediatric investigational plan and human factors protocol, with human factors data expected by the August earnings call, indicating proactive steps in the drug approval process.
- Improved Financials: Total revenues for Q1 2026 reached $14.4 million, a significant increase from $8.7 million in Q1 2025, primarily driven by growth in licensing and royalty revenues, reflecting the company's competitive position and heightened product demand in the market.
- Successful Debt Financing: The company secured a $150 million debt facility with Oaktree, projecting over $150 million in cash at launch, which provides robust financial backing for the upcoming Anaphylm product launch and mitigates financial risks.
- Clear Market Strategy: The company plans to establish a 75-person sales force and implement a strong marketing strategy post-FDA approval, demonstrating confidence in the successful launch of Anaphylm while emphasizing the importance of addressing market demand.
See More
Aquestive Therapeutics Q1 Earnings Beat Expectations
- Strong Earnings Report: Aquestive Therapeutics reported a Q1 GAAP EPS of -$0.07, beating expectations by $0.07, indicating an improvement in profitability despite still being in the red.
- Significant Revenue Growth: The company achieved $14.4 million in revenue for the first quarter, representing a 65.5% year-over-year increase and exceeding market expectations by $3.5 million, demonstrating robust product demand and strong market performance.
- Narrowed EBITDA Loss: The non-GAAP adjusted EBITDA loss for Q1 2026 was $1.7 million, a substantial improvement from the $17.6 million loss in Q1 2025, reflecting enhanced cost control and operational efficiency.
- Healthy Cash Position: As of March 31, 2026, the company reported cash and cash equivalents of $110.7 million, ensuring operational and investment capacity for the upcoming year, supporting its ongoing market expansion plans.
See More
Aquestive Therapeutics Q1 Earnings Announcement Scheduled
- Earnings Announcement Schedule: Aquestive Therapeutics is set to announce its Q1 earnings on May 13th after market close, with consensus EPS estimate at -$0.14 and revenue forecast at $10.9 million, reflecting a 25.3% year-over-year growth.
- Earnings Estimate Fluctuations: Over the past three months, EPS estimates have seen one upward revision and one downward revision, while revenue estimates have experienced one upward and two downward revisions, indicating market uncertainty regarding the company's performance.
- Anaphylm Product Launch Plans: The company plans to launch 75 units of Anaphylm and targets revenue between $46 million and $50 million in 2026, showcasing its potential for doubling growth in medical affairs.
- Q4 2025 Earnings Review: In the recent Q4 2025 earnings report, GAAP EPS was -$0.26, missing estimates by $0.13, while revenue of $13 million fell short of the expected $13.28 million, highlighting financial challenges faced by the company.
See More
Aquestive Therapeutics Secures $150 Million Debt Facility for Anaphylm Launch
- Enhanced Financing Flexibility: Aquestive Therapeutics has secured a new $150 million debt facility with Oaktree Capital Management, where the initial $55 million is allocated to repay an existing $45 million loan plus associated fees, significantly enhancing the company's financial flexibility for future product launches.
- Structured Funding Allocation: An additional $20 million will be available upon FDA approval of Anaphylm, with $25 million accessible upon achieving specific sales milestones, and a final tranche of up to $50 million, providing multiple layers of financial support to ensure ongoing product development.
- Reduced Interest Burden: The new financing agreement reduces the company's principal repayments from $45 million to zero over the next three years while lowering interest rates, significantly alleviating financial burdens and providing greater capital for long-term growth.
- Strategic Partnership Outlook: Oaktree's support for this transaction underscores its commitment to innovative drug development, and this financing will enable Aquestive to promote Anaphylm globally, which is expected to offer transformative rescue treatment for patients suffering from severe allergic reactions, further solidifying its market position in the biopharmaceutical sector.
See More
Rosen Law Firm Reminds of Aquestive Class Action
- Class Action Notice: Rosen Law Firm reminds investors who purchased Aquestive Therapeutics (NASDAQ:AQST) securities between June 16, 2025, and January 8, 2026, that they must apply to be lead plaintiff by May 4, 2026, to represent other class members in the lawsuit.
- Fee Arrangement: Investors participating in the class action will incur no out-of-pocket fees or costs, as all expenses will be handled through a contingency fee arrangement, which reduces financial risk for investors and encourages broader participation.
- Law Firm Background: Rosen Law Firm specializes in securities class actions and has recovered over $438 million for investors in 2019 alone, demonstrating its expertise and success in handling such cases, which investors should consider when selecting legal counsel.
- Case Details: The lawsuit alleges that Aquestive concealed the true state of its New Drug Application, leading to investor losses when the market became aware of the facts, highlighting the importance of transparency and disclosure in securities investment.
See More
