📊 AQST Key Takeaways
Is Aquestive Therapeutics, Inc. (AQST) a Good Investment?
Aquestive Therapeutics exhibits severe financial distress with negative stockholders' equity of -$33.7M, indicating liabilities exceed assets by this amount. The company is burning cash at an unsustainable rate (-$53.0M free cash flow) while generating only $44.5M in declining revenue, with operating losses of -$71.1M and net losses of -$83.8M in the latest period. Despite adequate short-term liquidity, the company's fundamental business model is not generating profits and the negative equity position represents a critical solvency risk.
Aquestive Therapeutics shows weak underlying fundamentals, with revenue down 22.6% year over year and losses that remain far larger than the company’s revenue base. Liquidity is currently solid because of the cash balance and strong current ratio, but persistent operating cash burn, deeply negative margins, and negative equity indicate the business is still financially fragile. Until revenue stabilizes and cash burn improves materially, the fundamental profile remains unfavorable.
Why Buy Aquestive Therapeutics, Inc. Stock? AQST Key Strengths
- Current ratio of 3.14x provides adequate short-term liquidity runway
- Cash position of $121.2M offers near-term operational flexibility
- 9 Form 4 insider filings suggest ongoing management involvement
- Strong near-term liquidity with $121.17M in cash and a 3.14x current ratio
- Low capital expenditure needs, which limits additional cash strain from fixed investment
- Asset-light balance of operations may provide flexibility if revenue growth resumes
AQST Stock Risks: Aquestive Therapeutics, Inc. Investment Risks
- Negative stockholders' equity of -$33.7M indicates technical insolvency
- Operating cash burn of -$52.4M is unsustainable even with $121.2M cash reserves
- Revenue declining 22.6% YoY while operating losses exceed $71M demonstrates failed unit economics
- Net margin of -188.1% shows company loses $1.88 for every $1 of revenue generated
- Pharmaceutical sector requires sustained R&D investment but company is in survival mode
- Revenue contraction of 22.6% year over year suggests weak growth quality and limited operating leverage
- Severe profitability pressure with -159.5% operating margin and -188.1% net margin
- Negative free cash flow, negative interest coverage, and negative stockholders equity raise financing and balance-sheet risk
Key Metrics to Watch
- Cash burn rate and runway until capital depletion
- Revenue stabilization or reversal of YoY decline
- Path to operating profitability or evidence of asset sales/restructuring
- Revenue growth trend and commercial mix by product
- Operating cash burn and quarterly free cash flow
Aquestive Therapeutics, Inc. (AQST) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 3.14x current ratio provides a solid financial cushion.
AQST Profit Margin, ROE & Profitability Analysis
AQST vs Healthcare Sector: How Aquestive Therapeutics, Inc. Compares
How Aquestive Therapeutics, Inc. compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Aquestive Therapeutics, Inc. Stock Overvalued? AQST Valuation Analysis 2026
Based on fundamental analysis, Aquestive Therapeutics, Inc. has mixed fundamental signals relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Aquestive Therapeutics, Inc. Balance Sheet: AQST Debt, Cash & Liquidity
AQST Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Aquestive Therapeutics, Inc.'s revenue has grown significantly by 13% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.51 indicates the company is currently unprofitable.
AQST Revenue Growth, EPS Growth & YoY Performance
AQST Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $12.8M | -$2.7M | $-0.13 |
| Q2 2025 | $10.0M | -$2.7M | $-0.03 |
| Q1 2025 | $8.7M | -$12.8M | $-0.17 |
| Q3 2024 | $13.0M | $241.0K | $0.00 |
| Q2 2024 | $13.2M | $2.3M | $-0.03 |
| Q1 2024 | $11.1M | $8.1M | $0.11 |
| Q3 2023 | $11.5M | $241.0K | $0.00 |
| Q2 2023 | $13.2M | $2.3M | $0.04 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Aquestive Therapeutics, Inc. Dividends, Buybacks & Capital Allocation
AQST SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Aquestive Therapeutics, Inc. (CIK: 0001398733)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Apr 13, 2026 | 4 | xslF345X06/marketforms-72912.xml | View → |
| Apr 13, 2026 | 4 | xslF345X06/marketforms-72925.xml | View → |
| Apr 13, 2026 | 4 | xslF345X06/marketforms-72927.xml | View → |
| Apr 13, 2026 | 4 | xslF345X06/marketforms-72932.xml | View → |
| Apr 13, 2026 | 4 | xslF345X06/marketforms-72933.xml | View → |
❓ Frequently Asked Questions about AQST
What is the AI rating for AQST?
Aquestive Therapeutics, Inc. (AQST) has a Combined AI Rating of SELL from Claude (STRONG SELL) and ChatGPT (SELL) with 89% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are AQST's key strengths?
Claude: Current ratio of 3.14x provides adequate short-term liquidity runway. Cash position of $121.2M offers near-term operational flexibility. ChatGPT: Strong near-term liquidity with $121.17M in cash and a 3.14x current ratio. Low capital expenditure needs, which limits additional cash strain from fixed investment.
What are the risks of investing in AQST?
Claude: Negative stockholders' equity of -$33.7M indicates technical insolvency. Operating cash burn of -$52.4M is unsustainable even with $121.2M cash reserves. ChatGPT: Revenue contraction of 22.6% year over year suggests weak growth quality and limited operating leverage. Severe profitability pressure with -159.5% operating margin and -188.1% net margin.
What is AQST's revenue and growth?
Aquestive Therapeutics, Inc. reported revenue of $44.5M.
Does AQST pay dividends?
Aquestive Therapeutics, Inc. does not currently pay dividends.
Where can I find AQST SEC filings?
Official SEC filings for Aquestive Therapeutics, Inc. (CIK: 0001398733) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is AQST's EPS?
Aquestive Therapeutics, Inc. has a diluted EPS of $-0.78.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is AQST a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Aquestive Therapeutics, Inc. has a SELL rating with 89% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is AQST stock overvalued or undervalued?
Valuation metrics for AQST: ROE of N/A (sector avg: 15%), net margin of -188.1% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy AQST stock in 2026?
Our dual AI analysis gives Aquestive Therapeutics, Inc. a combined SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is AQST's free cash flow?
Aquestive Therapeutics, Inc.'s operating cash flow is $-52.4M, with capital expenditures of $562.0K. FCF margin is -119.0%.
How does AQST compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -188.1% (avg: 12%), ROE N/A (avg: 15%), current ratio 3.14 (avg: 2).