| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 14.45 | 65.7% |
| Total Income | 14.45 | 65.7% |
| Expenditure | 18.65 | 33.6% |
| PBT | -8.06 | 64.8% |
| Net Profit | -8.06 | 64.8% |
| OPM | -29.10% | |
| NPM | -55.77% | |
| EPS | -0.07 | 70.8% |
Aquestive Therapeutics Reports Q1 2026 Financial Results
14 May 2026 · 14 May, 1:39 am
Summary
Aquestive Therapeutics reported a revenue increase to $14.4 million in Q1 2026, compared to $8.7 million in Q1 2025. The increase was driven by license and royalty revenue, and manufacture and supply revenue. The company's net loss decreased to $8.1 million, or $0.07 per share, compared to a net loss of $22.9 million, or $0.24 per share, in the same quarter of the previous year. Aquestive reaffirmed its guidance to resubmit the Anaphylm NDA in Q3 2026 and entered into a $150 million debt facility with Oaktree Capital Management, L.P.
Key Highlights
- 1
Total revenues increased to $14.4 million in the first quarter 2026, up from $8.7 million in the first quarter 2025.
- 2
License and royalty revenue increased to $5.4 million in the first quarter 2026 from $0.8 million in the first quarter 2025, primarily due to royalty revenue from Zevra.
- 3
Manufacture and supply revenue increased to $8.8 million in the first quarter 2026 from $7.2 million in the first quarter 2025, primarily due to increases in Suboxone revenues.
- 4
Research and development expenses decreased to $4.2 million in the first quarter 2026 from $5.4 million in the first quarter 2025.
- 5
Aquestive’s net loss for the first quarter 2026 was $8.1 million, or $0.07 for both basic and diluted loss per share, compared to the net loss in the first quarter 2025 of $22.9 million, or $0.24 for both basic and diluted loss per share.
- 6
Non-GAAP adjusted EBITDA loss was $1.7 million in the first quarter 2026, compared to non-GAAP adjusted EBITDA loss of $17.6 million in the first quarter 2025.
- 7
Cash and cash equivalents were $110.7 million as of March 31, 2026.
Management Comments
Daniel Barber
“We made rapid and meaningful progress in the first quarter,” said Daniel Barber, President and Chief Executive Officer of Aquestive. “We successfully completed our Type A meeting with the FDA, aligning on the study designs needed to support resubmission of the Anaphylm NDA, which we continue to target for the third quarter of 2026. In parallel, our commercial readiness efforts continue. We are making the most of this time by driving awareness of Anaphylm among healthcare professionals. We are building momentum for our AdrenaVerse™ platform and are excited by the recent results from our AQST-108 phase 1 study. Financially, we have taken steps to further strengthen our balance sheet and extend our cash runway, and we believe we are well-positioned to execute on our key objectives in 2026 and beyond.” “The new $150 million debt facility will help Aquestive drive growth for years to come. With this agreement, we reduce our principal debt repayments over the next three years from $45 million to zero, reduce our interest rate when compared to the previous debt agreement, complete the pre-approval requirements under our strategic funding agreement with RTW Investments, L.P., and unlock additional capital for the potential launch of Anaphylm, if approved by the FDA.”
Rahul Anand
“We are delighted to be partnering with Aquestive at this exciting stage in the company's development and believe that Anaphylm has the potential to be a truly transformative rescue treatment for patients suffering from severe allergic reactions, including anaphylaxis,” said Rahul Anand, Managing Director, Life Sciences Lending at Oaktree. “This transaction underscores Oaktree’s commitment to provide scalable capital solutions to companies developing novel medicines. We look forward to supporting the Aquestive management team as they work on bringing this important therapy to patients and healthcare providers globally.”
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