Filing Flows › Aquestive Therapeutics (AQST) › Q1 2026
Aquestive Therapeutics (AQST) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Aquestive Therapeutics (AQST) reported revenue of $14.4M for the first quarter 2026 (Q1 2026), +66% from a year earlier and +11% from the quarter before. Operating margin was -29.1%, net loss $8.1M (55.8% of revenue).
Aquestive Therapeutics, Q1 2026: revenue $14.4M (+66% year over year), operating margin -29.1%, net loss $8.1M, operating cash flow −$14.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.4M | +11% | +66% |
| Operating profit | −$4.2M | — | — |
| Net earnings | −$8.1M | — | — |
| Operating cash flow | −$14.8M | — | — |
What changed
Revenue was $14.4M in Q1 2026, up 66% year over year and up 11% from the previous quarter. Manufacture and supply revenue was the largest line at 61% of revenue. License and royalty revenue a added $4.6M year over year (up 583%), 80% of the total change. Co-development and research fees declined 38%.
Operating costs exceeded revenue by $4.2M, an operating margin of -29.1%. Total costs fell 34% while revenue rose 66%. The quarter ended with a net loss of $8.1M, narrower than the previous quarter's $31.9M loss.
Operating cash flow was −$14.8M. Non-cash charges added back $113K of depreciation and $2.3M of share-based compensation. Working capital and other items used $9.2M. Capital expenditures of $52K exceeded it, leaving free cash flow of −$14.9M.
Questions
What was Aquestive Therapeutics' revenue in the first quarter 2026?
Aquestive Therapeutics (AQST) reported revenue of $14.4M for the first quarter 2026 (Q1 2026), +66% from a year earlier and +11% from the quarter before.
Was Aquestive Therapeutics profitable in the first quarter 2026?
Operating loss was $4.2M (-29.1% of revenue) and net loss $8.1M.