Aquestive misses Q4 revenue estimates, EBITDA loss widens

Aquestive Therapeutics

04/03/2026 21:22

Overview

Pharmaceutical company's Q4 revenue missed analyst expectations

Adjusted EBITDA loss more than doubled from a year ago

Company extended revenue-sharing agreement with RTW to June 2027

Outlook

Aquestive expects 2026 revenue between $46 mln and $50 mln

Company guides 2026 non-GAAP adjusted EBITDA loss to $35 mln-$30 mln

Aquestive plans to end FY2026 with $70 mln in cash

Result Drivers

REVENUE GROWTH - Revenue increased 10% in Q4 2025, driven by manufacturing and supply revenue from Suboxone and Ondif

R&D EXPENSES - R&D expenses decreased due to lower clinical trial costs for Anaphylm

HIGHER SG&A EXPENSES - Increased selling, general, and administrative expenses driven by legal and commercial costs for Anaphylm

Company press release: ID:nGNX2Z5l0g

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$13.02 mln
$13.28 mln (9 Analysts)
Q4 Net Income
-$31.86 mln
Q4 Adjusted EBITDA
Miss
-$27.33 mln
-$12.56 mln (2 Analysts)
Q4 Income From Operations
-$28.84 mln
Q4 Pretax Profit
-$31.86 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Aquestive Therapeutics Inc is $9.00, about 118.4% above its March 3 closing price of $4.12

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)