# Aquestive Therapeutics, Inc.: overview AQST · Nasdaq · CIK 1398733 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31 Pages: [Overview](/companies/aqst.md) · [Financials](/companies/aqst/financials.md) · [Filings](/companies/aqst/filings.md) · [Insiders](/companies/aqst/insiders.md) Latest reported revenue: [$13.8m](/filings/0001398733-26-000042.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 11, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001398733-26-000042). ## Last eight quarters | Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | [13.5](/filings/0001398733-25-000028.md) | [11.9 d](/filings/0001398733-26-000018.md) | [8.7](/filings/0001398733-26-000030.md) | [10.0](/filings/0001398733-26-000042.md) | [12.8](/filings/0001398733-25-000028.md) | [13.0 d](/filings/0001398733-26-000018.md) | [14.4](/filings/0001398733-26-000030.md) | [13.8](/filings/0001398733-26-000042.md) | | Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | | Operating margin | % | [(61.2%)](/filings/0001398733-25-000028.md) | [(114.4%) d](/filings/0001398733-26-000018.md) | [(222.1%)](/filings/0001398733-26-000030.md) | [(113.6%)](/filings/0001398733-26-000042.md) | [(89.6%)](/filings/0001398733-25-000028.md) | [(221.6%) d](/filings/0001398733-26-000018.md) | [(29.1%)](/filings/0001398733-26-000030.md) | [(59.5%)](/filings/0001398733-26-000042.md) | | Net margin | % | [(85.0%)](/filings/0001398733-25-000028.md) | [(143.7%) d](/filings/0001398733-26-000018.md) | [(263.0%)](/filings/0001398733-26-000042.md) | [(135.4%)](/filings/0001398733-26-000042.md) | [(120.6%)](/filings/0001398733-25-000028.md) | [(244.8%) d](/filings/0001398733-26-000018.md) | [(55.8%)](/filings/0001398733-26-000042.md) | [(165.5%)](/filings/0001398733-26-000042.md) | | Diluted EPS | $ per share | [(0.13)](/filings/0001398733-25-000028.md) | not reported | [(0.24)](/filings/0001398733-26-000030.md) | [(0.14)](/filings/0001398733-26-000042.md) | [(0.14)](/filings/0001398733-25-000028.md) | not reported | [(0.07)](/filings/0001398733-26-000030.md) | [(0.18)](/filings/0001398733-26-000042.md) | | Free cash flow | $m | [(12.0) d](/filings/0001398733-25-000028.md) | [(6.5) d](/filings/0001398733-26-000018.md) | [(23.5)](/filings/0001398733-26-000030.md) | [(8.0) d](/filings/0001398733-26-000042.md) | [(12.9) d](/filings/0001398733-25-000028.md) | [(8.6) d](/filings/0001398733-26-000018.md) | [(14.9)](/filings/0001398733-26-000030.md) | [(9.7) d](/filings/0001398733-26-000042.md) | - Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure. ## Last five fiscal years | Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) | | --- | --- | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | [50.8](/filings/0001628280-23-010180.md) | [47.7](/filings/0001628280-24-009010.md) | [50.6](/filings/0001628280-25-010506.md) | [57.6](/filings/0001398733-26-000018.md) | [44.5](/filings/0001398733-26-000018.md) | | Gross margin | % | not reported | not reported | not reported | not reported | not reported | | Operating margin | % | [(68.2%)](/filings/0001628280-23-010180.md) | [(88.2%)](/filings/0001628280-24-009010.md) | [(29.9%)](/filings/0001628280-25-010506.md) | [(53.5%)](/filings/0001398733-26-000018.md) | [(159.5%)](/filings/0001398733-26-000018.md) | | Net margin | % | [(138.8%)](/filings/0001628280-23-010180.md) | [(114.1%)](/filings/0001628280-24-009010.md) | [(15.6%)](/filings/0001628280-25-010506.md) | [(76.7%)](/filings/0001398733-26-000018.md) | [(188.1%)](/filings/0001398733-26-000018.md) | | Diluted EPS | $ per share | [(1.85)](/filings/0001628280-23-010180.md) | [(1.12)](/filings/0001628280-24-009010.md) | [(0.13)](/filings/0001628280-25-010506.md) | [(0.51)](/filings/0001398733-26-000018.md) | [(0.78)](/filings/0001398733-26-000018.md) | | Free cash flow | $m | [(33.9)](/filings/0001628280-23-010180.md) | [(10.8)](/filings/0001628280-24-009010.md) | [(7.4)](/filings/0001628280-25-010506.md) | [(35.9)](/filings/0001398733-26-000018.md) | [(53.0)](/filings/0001398733-26-000018.md) | - Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing. ## Insider purchases and sales The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/aqst/insiders.md) None in coverage. ## Funds that report holding it From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md) | Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before | | --- | --- | ---: | ---: | --- | --- | | [Bratton Capital Management, L.P.](/funds/1723787.md) | 2026-06-30 | $40.8m | 9,810,958 | | Unchanged | | [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $33.6m | 8,069,373 | | Added +560,302 | | [RTW INVESTMENTS, LP](/funds/1493215.md) | 2026-06-30 | $30.9m | 7,426,471 | | Unchanged | | [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $19.1m | 4,584,533 | | Added +140,835 | | [FEDERATED HERMES, INC.](/funds/1056288.md) | 2026-06-30 | $12.9m | 3,112,561 | | Added +172,222 | | [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $12.2m | 2,928,020 | | Added +381,829 | | [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $10.9m | 2,622,888 | | Added +214,697 | | [SAMSARA BIOCAPITAL, LLC](/funds/1744967.md) | 2026-06-30 | $10.4m | 2,500,000 | | Unchanged | | [BANK OF AMERICA CORP /DE/](/funds/70858.md) | 2026-06-30 | $6.9m | 1,668,423 | | Reduced −736,627 | | [Sio Capital Management, LLC](/funds/1482416.md) | 2026-06-30 | $6.2m | 1,486,175 | | Reduced −436,712 | ## Recent filings [All 672 filings](/companies/aqst/filings.md) | Filed | Accepted | Form | What it is | Accession | | --- | --- | --- | --- | --- | | 2026-10-19 | 20:04 ET | [8-K](/filings/0001398733-26-000063.md) | 5.03 Amendment to articles or bylaws; 9.01 Financial statements and exhibits | 0001398733-26-000063 | | 2026-10-15 | 11:21 ET | [8-K](/filings/0001398733-26-000058.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001398733-26-000058 | | 2026-10-14 | 11:21 ET | [8-K](/filings/0001398733-26-000056.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001398733-26-000056 | | 2026-09-29 | 11:22 ET | [8-K](/filings/0001398733-26-000052.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001398733-26-000052 | | 2026-09-25 | 11:59 ET | [8-K](/filings/0001398733-26-000048.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001398733-26-000048 | | 2026-09-17 | 11:02 ET | [8-K](/filings/0001398733-26-000044.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001398733-26-000044 | | 2026-08-11 | 20:10 ET | [10-Q](/filings/0001398733-26-000042.md) | Quarterly report, period 2026-06-30 | 0001398733-26-000042 | | 2026-08-11 | 20:06 ET | [8-K](/filings/0001398733-26-000041.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001398733-26-000041 | | 2026-08-10 | 11:05 ET | [8-K](/filings/0001398733-26-000035.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001398733-26-000035 | | 2026-06-10 | 20:02 ET | [8-K](/filings/0001398733-26-000033.md) | 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001398733-26-000033 | ## Latest annual report [Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001398733-26-000018.md), filed Mar 4, 2026. ## Forecast league Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/c2cf245a-7f82-4e0d-bfd7-6e7b6fa09d46) ## About the filer - CIK: 1398733 - Tickers: AQST - Exchange: Nasdaq - SIC code: 2834 Pharmaceutical Preparations - State of incorporation: DE - Filer category: Non-accelerated filer
Smaller reporting company Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:38 ET. No prices; not investment advice.