Aquestive Therapeutics Inc. Common Stock (AQST)

FairStock Score: 17/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Benjamin Graham demanded a margin of safety, and Warren Buffett looks for durable economics. On the filed figures, Aquestive does not yet show either. It sells oral-film medicines such as Libervant, Suboxone, EMYLIF, ONDIF and SYMPAZAN. Revenue is real but small. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $13.8M and net income was -$22.9M, or -$0.18 diluted EPS, a -165.45% net margin. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $14.4M and net loss was $8.1M. For full fiscal 2025, ended 2025-12-31, revenue was $44.5M and net loss was $83.8M. Fiscal 2024 revenue was $57.6M with a $44.1M loss, and fiscal 2023 revenue was $50.6M with a $7.9M loss. So the company has lost money in each of the last four years. Cash generation is negative: trailing free cash flow is -$45.9M, a -7.8% FCF yield. The FairStock Piotroski score is 3/9 and Altman Z-score is -2.38, signs of financial fragility. The FairStock P/E is -7.08 and ROCE is -29.20%. At the 2026-10-13 close of $4.67, market cap is $586.1M, high against $44.5M of fiscal 2025 revenue and no profits. There may be a niche delivery platform, but without consistent earnings or positive cash flow, I see no margin of safety.

In plain English: Aquestive Therapeutics makes medicines that dissolve in the mouth, including products for seizures and opioid dependence. The business is growing sales but still loses large amounts of money and burns cash. Based on the recent share price and the company's small revenue and losses, the stock does not look cheap on the numbers shown.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer