AQST - Aquestive Therapeutics, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$9.00
DETAILS
HIGH:
$12.00
LOW:
$6.00
MEDIAN:
$9.00
CONSENSUS:
$9.00
UPSIDE:
118.45%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 44.5 | 57.6 | 50.6 | 47.7 | 50.8 | 45.8 | 52.6 | 67.4 | 66.9 | 51.8 |
| Cost of Revenue | 17.2 | 17.9 | 20.8 | 19.4 | 15.0 | 13.0 | 20.4 | 21.0 | 19.8 | 16.4 |
| Gross Profit | 27.4 | 39.7 | 29.8 | 28.3 | 35.8 | 32.9 | 32.2 | 46.4 | 47.1 | 35.4 |
| Operating Expenses | ||||||||||
| R&D Expenses | 17.2 | 20.3 | 13.1 | 17.5 | 17.0 | 19.9 | 20.6 | 23.1 | 22.1 | 15.4 |
| SG&A Expenses | 79.8 | 50.2 | 31.8 | 52.9 | 53.5 | 55.9 | 64.3 | 72.3 | 25.1 | 20.8 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.0) | 0 | (0.1) |
| Operating Expenses | 97.0 | 70.5 | 44.9 | 70.4 | 70.5 | 75.8 | 84.9 | 95.4 | 47.2 | 36.3 |
| Operating Income | ||||||||||
| Operating Income | (69.7) | (30.8) | (15.1) | (42.1) | (34.7) | (42.9) | (52.7) | (48.9) | (0.1) | (0.8) |
| Interest Expense | 17.1 | 16.8 | 7.5 | 12.4 | 22.5 | 13.0 | 9.3 | 7.7 | 7.7 | 6.1 |
| Interest Income | 0 | 3.4 | 16.3 | 0.1 | 0.4 | 0.1 | 0.6 | 0.6 | 0 | 0 |
| Profitability | ||||||||||
| EBITDA | (69.1) | (26.6) | 1.2 | (39.6) | (45.1) | (39.2) | (53.9) | (50.3) | 2.6 | 2.9 |
| EBIT | (69.7) | (27.3) | (0.2) | (42.0) | (48.1) | (42.8) | (56.9) | (53.7) | (1.2) | (3.5) |
| Income Before Tax | (83.8) | (44.2) | (7.6) | (54.4) | (70.5) | (55.8) | (66.2) | (61.4) | (8.9) | (9.6) |
| Income Tax Expense | 0 | (0.0) | 0.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (83.8) | (44.1) | (7.9) | (54.4) | (70.5) | (55.8) | (66.2) | (61.4) | (8.9) | (9.6) |
| Per Share Data | ||||||||||
| EPS (Basic) | -0.76 | -0.51 | -0.13 | -1.12 | -1.85 | -1.66 | -2.87 | -2.96 | -0.45 | -0.39 |
| EPS (Diluted) | -0.76 | -0.51 | -0.13 | -1.12 | -1.85 | -1.66 | -2.87 | -2.96 | -0.45 | -0.39 |
| Shares Outstanding | 122.0 | 86.7 | 61.3 | 48.7 | 38.1 | 33.7 | 25.4 | 20.7 | 20 | 24.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 121.2 | 71.5 | 23.9 | 27.3 | 28.0 | 31.8 | 49.3 | 60.6 | 17.4 | 9.2 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 17.8 | 7.3 | 8.5 | 4.7 | 12.1 | 7.0 | 13.1 | 6.5 | 6.2 | 10.8 |
| Inventory | 6.2 | 6.0 | 6.8 | 5.8 | 4.0 | 2.5 | 2.9 | 5.4 | 4.0 | 2.9 |
| Other Current Assets | 4.2 | 3.3 | 1.9 | 2.1 | 0 | 0 | 0 | 1.7 | 0 | 0.1 |
| Total Current Assets | 149.3 | 88.2 | 41.0 | 39.9 | 47.3 | 44.6 | 68.3 | 74.2 | 28.2 | 23.3 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 8.5 | 9.0 | 9.7 | 9.3 | 7.8 | 10.3 | 9.7 | 12.2 | 13.5 | 15.1 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0.3 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 1.3 | 1.4 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 |
| Long-Term Investments | 2 | 3 | 4 | 0 | 6 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0.6 | 1.2 | 1.4 | 6.5 | 6.9 | 7.8 | 0 | 0.2 | 1.2 | 0.6 |
| Total Non-Current Assets | 11.2 | 13.2 | 16.5 | 17.2 | 14.7 | 18.3 | 10.2 | 12.7 | 15.0 | 16.1 |
| Total Assets | 160.4 | 101.4 | 57.4 | 57.1 | 62.0 | 62.9 | 78.5 | 86.9 | 43.1 | 39.4 |
| Current Liabilities | ||||||||||
| Account Payables | 29.9 | 10.3 | 8.9 | 9.9 | 8.3 | 7.1 | 12.3 | 20.4 | 9.6 | 6.6 |
| Short-Term Debt | 11.6 | 0.0 | 0.0 | 18.7 | 2.0 | 2.6 | 0 | 4.6 | 0 | 0 |
| Deferred Revenue | 1.1 | 1.0 | 1.6 | 1.5 | 0.8 | 0.7 | 0.8 | 0.7 | 1.3 | 0.8 |
| Other Current Liabilities | 5.0 | 1 | 5.1 | 7.5 | 7.2 | 7.8 | 1.7 | 3.6 | 0.6 | 0 |
| Total Current Liabilities | 47.6 | 18.9 | 18.3 | 39.5 | 22.0 | 21.1 | 18.6 | 33.0 | 15.3 | 10.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 115.5 | 32.5 | 27.5 | 33.4 | 51.6 | 34.3 | 60.3 | 42.6 | 45.5 | 38.6 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 59.1 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 7.3 | 85.2 | 80.3 | 66.1 | 2.5 | 49.5 | 1.4 | 1.2 | 8.8 | 7.5 |
| Total Non-Current Liabilities | 146.5 | 142.7 | 145.6 | 136.1 | 122.2 | 90.3 | 66.0 | 43.8 | 54.3 | 46.2 |
| Total Liabilities | 194.1 | 161.6 | 163.9 | 175.6 | 144.1 | 111.4 | 84.6 | 76.8 | 69.6 | 57.0 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 12.7 | 11.2 |
| Retained Earnings | (447.0) | (363.2) | (319.1) | (311.2) | (256.8) | (186.3) | (130.5) | (61.4) | (120.1) | (108.7) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (35.2) | (32.0) | (28.3) |
| Total Stockholders' Equity | (33.7) | (60.2) | (106.5) | (118.6) | (82.1) | (48.5) | (6.1) | 10.1 | (26.5) | (17.6) |
| Total Liabilities & Equity | 160.4 | 101.4 | 57.4 | 57.1 | 62.0 | 62.9 | 78.5 | 86.9 | 43.1 | 39.4 |
| Debt Metrics | ||||||||||
| Total Debt | 131.4 | 38.0 | 33.3 | 57.5 | 56.4 | 40.5 | 60.3 | 47.2 | 45.5 | 38.6 |
| Net Debt | 10.3 | (33.5) | 9.4 | 30.2 | 28.4 | 8.7 | 11.0 | (13.4) | 28.1 | 29.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (83.8) | (44.1) | (7.9) | (54.4) | (70.5) | (55.8) | (66.2) | (61.4) | (8.9) | (9.6) |
| Depreciation & Amortization | 0.5 | 0.7 | 1.3 | 2.4 | 3.0 | 3.4 | 2.9 | 3.2 | 3.8 | 3.9 |
| Stock-Based Compensation | 7.6 | 7.1 | 2.7 | 4.4 | 6.8 | 6.6 | 7.1 | 29.9 | 0 | 0 |
| Change in Working Capital | 12.2 | (10.0) | (5.3) | 32.0 | (1.7) | (4.4) | (11.1) | 8.0 | 7.9 | (6.3) |
| Other Non-Cash Items | 11.0 | 10.5 | 2.8 | 5.8 | 29.5 | 4.7 | 7.2 | 1.9 | 3.1 | 3.8 |
| Operating Cash Flow | (52.4) | (35.8) | (6.4) | (9.8) | (33.0) | (45.5) | (60.2) | (13.0) | 5.8 | (8.2) |
| Investing Activities | ||||||||||
| Capital Expenditure | (0.6) | (0.2) | (1.0) | (2.5) | (0.9) | (0.5) | (0.7) | (1.8) | (2.1) | (1.0) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.2 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.2 |
| Investing Cash Flow | (0.6) | (0.2) | (1.0) | (2.5) | (0.9) | (0.5) | (0.7) | (1.8) | (2.1) | 0.2 |
| Financing Activities | ||||||||||
| Net Debt Issuance | (0.0) | (0.0) | (20.4) | (2.0) | 0 | (22.5) | 17.1 | 0 | 5 | 6.9 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (0.8) | (0.1) | 15.4 | 0.0 | 0.3 | 44.7 | (6.8) | (10.8) | (0.6) | (1.2) |
| Financing Cash Flow | 102.6 | 83.6 | 4.0 | 11.6 | 30.1 | 28.5 | 49.6 | 58.0 | 4.4 | 5.7 |
| Cash Position | ||||||||||
| Net Change in Cash | 49.6 | 47.7 | (3.4) | (0.8) | (3.8) | (17.5) | (11.3) | 43.2 | 8.2 | (2.3) |
| Cash at Beginning | 71.5 | 23.9 | 27.3 | 28.0 | 31.8 | 49.3 | 60.6 | 17.4 | 9.2 | 11.5 |
| Cash at End | 121.2 | 71.5 | 23.9 | 27.3 | 28.0 | 31.8 | 49.3 | 60.6 | 17.4 | 9.2 |
| Free Cash Flow | (53.0) | (35.9) | (7.4) | (12.3) | (33.9) | (46.0) | (60.9) | (14.8) | 3.8 | (9.2) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 44.5 | 57.6 | 50.6 | 47.7 | 50.8 | 45.8 | 52.6 | 67.4 | 66.9 | 51.8 |
| Gross Profit | 27.4 | 39.7 | 29.8 | 28.3 | 35.8 | 32.9 | 32.2 | 46.4 | 47.1 | 35.4 |
| Operating Income | (69.7) | (30.8) | (15.1) | (42.1) | (34.7) | (42.9) | (52.7) | (48.9) | (0.1) | (0.8) |
| Net Income | (83.8) | (44.1) | (7.9) | (54.4) | (70.5) | (55.8) | (66.2) | (61.4) | (8.9) | (9.6) |
| EPS (Diluted) | -0.76 | -0.51 | -0.13 | -1.12 | -1.85 | -1.66 | -2.87 | -2.96 | -0.45 | -0.39 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 121.2 | 71.5 | 23.9 | 27.3 | 28.0 | 31.8 | 49.3 | 60.6 | 17.4 | 9.2 |
| Total Assets | 160.4 | 101.4 | 57.4 | 57.1 | 62.0 | 62.9 | 78.5 | 86.9 | 43.1 | 39.4 |
| Total Debt | 131.4 | 38.0 | 33.3 | 57.5 | 56.4 | 40.5 | 60.3 | 47.2 | 45.5 | 38.6 |
| Stockholders' Equity | (33.7) | (60.2) | (106.5) | (118.6) | (82.1) | (48.5) | (6.1) | 10.1 | (26.5) | (17.6) |
| Cash Flow | ||||||||||
| Operating Cash Flow | (52.4) | (35.8) | (6.4) | (9.8) | (33.0) | (45.5) | (60.2) | (13.0) | 5.8 | (8.2) |
| Capital Expenditure | (0.6) | (0.2) | (1.0) | (2.5) | (0.9) | (0.5) | (0.7) | (1.8) | (2.1) | (1.0) |
| Free Cash Flow | (53.0) | (35.9) | (7.4) | (12.3) | (33.9) | (46.0) | (60.9) | (14.8) | 3.8 | (9.2) |