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Aquestive Therapeutics vs Xenon Pharmaceuticals: AQST and XENE compared
Aquestive Therapeutics is the larger company: $7.6M of revenue in its latest quarter (Q3 2026) against $7.5M for Xenon Pharmaceuticals (Q1 2025). Aquestive Therapeutics is more profitable, with an operating margin of -191.5% against -969.8%.
Where the money goes: AQST and XENE
Aquestive Therapeutics (AQST) · Q3 2026
Aquestive Therapeutics, Q3 2026: revenue $7.6M (-41% year over year), operating margin -191.5%, net loss $16.5M, operating cash flow −$7.0M. The chart follows the revenue to costs, profit and cash.
Xenon Pharmaceuticals (XENE) · Q1 2025
Xenon Pharmaceuticals, Q1 2025: revenue $7.5M, operating margin -969.8%, net loss $65.0M, operating cash flow −$61.7M. The chart follows the revenue to costs, profit and cash.
| Aquestive Therapeutics (AQST) | Xenon Pharmaceuticals (XENE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 2025 |
| Revenue | $7.6M | $7.5M |
| Revenue growth, Y/Y | -41% | — |
| Operating margin | -191.5% | -969.8% |
| Net earnings | −$16.5M | −$65.0M |
| Net margin | -218.3% | -867.3% |
| Operating cash flow | −$7.0M | −$61.7M |
| Market value | — | $3.6B |
| Analysts’ mean target | — | $71.75 |
Where the revenue comes from
Aquestive Therapeutics
- Manufacture and supply revenue: $6.7M (88%)
- License and Royalty Revenue: $824K (11%)
- Co-development and research fees: $74K (1%)
Questions
Which is bigger, Aquestive Therapeutics or Xenon Pharmaceuticals?
Aquestive Therapeutics is the larger company: $7.6M of revenue in its latest quarter (Q3 2026) against $7.5M for Xenon Pharmaceuticals (Q1 2025).
Is Aquestive Therapeutics or Xenon Pharmaceuticals growing faster?
Aquestive Therapeutics is more profitable, with an operating margin of -191.5% against -969.8%.
More: Aquestive Therapeutics earnings · how Aquestive Therapeutics makes money · Xenon Pharmaceuticals earnings · how Xenon Pharmaceuticals makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed May 12, 2025). Fiscal quarters can end on different dates. Not investment advice.