# Aquestive Therapeutics share price today (Aquestive Therapeutics, Inc., AQST)

> Aquestive Therapeutics, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. The latest quarter's profit comes from a one-off item larger than a full quarter's revenue, not from the business. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. AQST · Healthcare · Drug Manufacturers - Specialty & Generic · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/aqst

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## Key numbers

- Price: $3.88 (−43.1% in a year)
- Revenue (Jun 2026): $13.8 M (+38.1% on a year ago)
- Profit (Jun 2026), incl. one-off: −$22.9 M (one-off item, see below)
- Operating margin: −59.5% (+54.1 points on a year ago)
- ROE: 249%, FY25
- ROIC: −276.3%, against a 13.2% cost of capital: −289.5 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Aquestive Therapeutics share price today? Aquestive Therapeutics, Inc.'s share price was $3.88 at the close on 3 November 2026. That is 7.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between $3 and $6, and at that close it sat 27% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 3 weeks in a row. Over the last 1 year the share price moved −3% while the S&P 500 moved +21%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Aquestive Therapeutics pay? Aquestive Therapeutics, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Aquestive Therapeutics on? Aquestive Therapeutics is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Aquestive Therapeutics profitable? Aquestive Therapeutics, Inc. posted a net loss of $22.9 M in the Jun 2026 quarter. That quarter includes a one-off gain bigger than its revenue, so the comparison with last year does not reflect normal business. The full FY25 year was a loss of $83.8 M. That loss is 165.5% of the quarter's revenue. The same quarter a year earlier lost $13.5 M. 12 of the last 12 reported quarters were loss-making. Read this profit with care: at −$22.9 M it is bigger than the quarter's whole revenue of $13.8 M. No business earns more than it takes in from sales, so this is a one-off item (for example a debt settlement, a tax write-back or an asset sale), not money the business earned. The underlying business is running at a −59.5% operating margin. The jump on last year, and any P/E built on this profit, come from the one-off, not from a real turn in earnings. ## How much revenue does Aquestive Therapeutics make, and is it growing? Aquestive Therapeutics, Inc. reported $13.8 M of revenue in the Jun 2026 quarter, +38.1% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 4 years it has grown −3.2% a year on average. The last full year, FY25, came in at $44.5 M. The last four reported quarters add to $54.1 M. FY25 revenue was $44.5 M, −22.6% on the year before. Recent pace: the last four quarters grew +27.0% on average, against −3.2% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +22.6%, against −3.7% a year over the last 8 quarters (accelerating). ## How much of every $100 of sales does Aquestive Therapeutics keep? Aquestive Therapeutics, Inc.'s operating margin was −59.5% in the Jun 2026 quarter, 54.1 percentage points higher than the same quarter a year ago. Across 5 years it has been between −159.5% and −29.9%. The latest quarter is within that range. Why the margin moved: operating margin changed +54.1 percentage points on the year while gross margin changed +16.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Aquestive Therapeutics' profit turning into cash? Aquestive Therapeutics, Inc.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 its operations used $52.4 M of cash, against −$83.8 M of profit. After $562 K of spending on assets, free cash was −$53.0 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Aquestive Therapeutics' cash go? Aquestive Therapeutics, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $1.7 M on assets over the last 3 years. Averaged over those years that is 1.3% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $1.7 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is Aquestive Therapeutics' P/E ratio, and how does it compare with its own history? Aquestive Therapeutics, Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Aquestive Therapeutics, Inc. at 10.9× its FY25 revenue of $44.5 M. The P/E comes back here once profit turns positive. ## Is the Aquestive Therapeutics business getting better or worse? Aquestive Therapeutics, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. The return-on-capital line is not shown: net worth is negative, so a return on capital means nothing. The balance sheet is in distress, and this reading uses the growth lines alone. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Aquestive Therapeutics earn on its capital? Aquestive Therapeutics, Inc. earned a ROE of 249% in FY25. That is up from a low of 7% in FY23. Its return on capital used (ROIC) is 289.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −188.1% net margin and 0.28× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −188.1% net margin × 0.28× asset turnover × −4.77× leverage (assets divided by equity) ≈ 251.2% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: −276.3% − 13.2% = −289.5 percentage points. The 13.2% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Aquestive Therapeutics have too much debt? Aquestive Therapeutics, Inc.'s net worth is negative: it owes more than it owns, so a debt-to-equity ratio means nothing here. Year by year, that ratio went from −0.69 in FY21 to −1.26 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the Aquestive Therapeutics shareholding pattern? 24.4% of Aquestive Therapeutics, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 13.2 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Aquestive Therapeutics from balance-sheet trouble? For Aquestive Therapeutics, Inc., the Z-score is −3.25. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of −3.25 is inside the danger zone, so the balance sheet is a real risk. ## How does Aquestive Therapeutics rank in its industry? There is no score against its industry: Aquestive Therapeutics, Inc. is not among the largest members shown in this industry comparison for Drug Manufacturers - Specialty & Generic. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Aquestive Therapeutics compared with? No sector comparison is shown here, not among the largest members shown in this industry comparison. ## Which companies are close to Aquestive Therapeutics in size? Aquestive Therapeutics is the 38th largest of 51 Drug Manufacturers - Specialty & Generic companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Collegium Pharmaceutical, Inc., Ironwood Pharmaceuticals, Inc. and Evotec SE. Just below it: Evolus, Inc., Alpha Teknova, Inc. and Kamada. ### Drug Manufacturers - Specialty & Generic companies close in size

1. [Collegium Pharmaceutical, Inc.](https://www.sectoralpha.in/us/stocks/coll) $773 million
2. [Ironwood Pharmaceuticals, Inc.](https://www.sectoralpha.in/us/stocks/irwd) $578 million
3. [Evotec SE](https://www.sectoralpha.in/us/stocks/evo) $569 million
4. Aquestive Therapeutics, Inc. $487 million
5. [Evolus, Inc.](https://www.sectoralpha.in/us/stocks/eols) $487 million
6. [Alpha Teknova, Inc.](https://www.sectoralpha.in/us/stocks/tkno) $453 million
7. [Kamada Ltd.](https://www.sectoralpha.in/us/stocks/kmda) $405 million

[All 51 Drug Manufacturers - Specialty & Generic companies, largest first](https://www.sectoralpha.in/us/sectors/drug-manufacturers-specialty-generic#all-companies)

### Companies close in size in other industries

1. [MMTec, Inc.](https://www.sectoralpha.in/us/stocks/mtc) $492 million · Software - Application
2. [Nexxen International Ltd.](https://www.sectoralpha.in/us/stocks/nexn) $490 million · Advertising Agencies
3. Aquestive Therapeutics, Inc. $488 million
4. [Core Laboratories Inc.](https://www.sectoralpha.in/us/stocks/clb) $488 million · Oil & Gas Equipment & Services
5. [Delcath Systems, Inc.](https://www.sectoralpha.in/us/stocks/dcth) $487 million · Medical Devices

## What else do people ask about Aquestive Therapeutics? ### What were Aquestive Therapeutics's latest quarterly results? Aquestive Therapeutics, Inc. reported revenue of $13.8 M and a net loss of $22.9 M for the Jun 2026 quarter. Earnings per share were −$0.18. The operating margin was −59.5%, 54.1 percentage points higher than a year earlier (as of 3 November 2026). ### What is Aquestive Therapeutics's market cap? Aquestive Therapeutics, Inc.'s market capitalisation is $487 M at a stock price of $3.88. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Aquestive Therapeutics performing? Aquestive Therapeutics, Inc.'s latest readings are below. Over the past 13 weeks it has done better than the S&P 500, for 3 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Aquestive Therapeutics's stock price go up? This page does not forecast Aquestive Therapeutics, Inc.'s stock price. What it shows instead: the stock price is $3.88. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Where is Aquestive Therapeutics in its business cycle? Aquestive Therapeutics, Inc.'s FY25 operating margin was −159.5%, against a 5-year range of −159.5% to −29.9%: the low end of its own range, which is often where recoveries start. The latest quarter was −59.5%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Aquestive Therapeutics story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Aquestive Therapeutics a stock worth studying right now? What the numbers show: Aquestive Therapeutics, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. The latest quarter's profit comes from a one-off item larger than a full quarter's revenue, not from the business. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. The main open question: whether the business can earn its way back to positive net worth before new shares or a restructuring get there first. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.