Filing Flows › Aquestive Therapeutics (AQST) › Q2 2025
Aquestive Therapeutics (AQST) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Aquestive Therapeutics (AQST) reported revenue of $10.0M for the second quarter 2025 (Q2 2025), -50% from a year earlier and +15% from the quarter before. Operating margin was -113.6%, net loss $13.5M (135.4% of revenue).
Aquestive Therapeutics, Q2 2025: revenue $10.0M (-50% year over year), operating margin -113.6%, net loss $13.5M, operating cash flow −$7.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.0M | +15% | -50% |
| Operating profit | −$11.4M | — | — |
| Net earnings | −$13.5M | — | — |
| Operating cash flow | −$7.9M | — | — |
What changed
Revenue was $10.0M in Q2 2025, down 50% year over year and up 15% from the previous quarter.
Operating costs exceeded revenue by $11.4M, an operating margin of -113.6%. Total costs grew 7% against a revenue fall of 50%. The fastest-growing cost line was SG&A (+12%). The quarter ended with a net loss of $13.5M, narrower than the previous quarter's $22.9M loss.
Operating cash flow was −$7.9M. Non-cash charges added back $140K of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $3.6M. Capital expenditures of $107K exceeded it, leaving free cash flow of −$8.0M.
Questions
What was Aquestive Therapeutics' revenue in the second quarter 2025?
Aquestive Therapeutics (AQST) reported revenue of $10.0M for the second quarter 2025 (Q2 2025), -50% from a year earlier and +15% from the quarter before.
Was Aquestive Therapeutics profitable in the second quarter 2025?
Operating loss was $11.4M (-113.6% of revenue) and net loss $13.5M.