Company Overview
Aquestive Therapeutics, Inc. operates as a pharmaceutical entity serving both the United States and international markets, primarily focused on offering specialized drug formulations such as Libervant for seizure treatment and Suboxone for opioid use disorder. The company functions within the Healthcare sector, specifically classified under the industry of Drug Manufacturers - Specialty & Generic, which implies a focus on developing and commercializing niche therapeutic products rather than broad-market pharmaceuticals. This organization employs a workforce of 147 individuals to support its operational and research activities across its geographic footprint. With a market capitalization of $513.81M and annual revenue of $44.55M, the company maintains a mid-cap profile that suggests a specialized position in the market rather than mass-market dominance. The scale indicated by these financial figures reflects a business that has achieved significant revenue generation relative to its small employee base, suggesting high operational efficiency or significant product concentration in specific therapeutic areas.
Financial Health
The company reported revenue of $44.55M over the trailing twelve months, accompanied by a net income of $-83,784,000 and an EBITDA of $-70,477,000. The substantial gap between the positive revenue figure and the significant net loss reveals a cost structure where operating expenses, likely driven by research and development or commercialization efforts, far exceed current gross profits. Free cash flow stands at $-29,235,376, indicating that the company is currently burning cash rather than generating liquidity, which limits immediate financial flexibility for expansion or debt repayment without external capital infusion. The gross margin sits at 58.3%, suggesting that the cost of goods sold for its specialized film formulations is managed reasonably well relative to sales. However, the operating margin is negative at -221.6% and the profit margin is -188.1%, figures that indicate heavy overhead costs are consuming the gross profits before reaching the bottom line. Total cash reserves of $121.17M provide a buffer against total debt of $42.48M, though the debt-to-equity ratio is listed as N/A due to the company's negative equity position from losses. The current ratio of 3.13 indicates a strong short-term liquidity position, meaning the company holds significantly more current assets than current liabilities. Return on Equity is N/A because the equity base is negative, while the return on assets is -33.9%, revealing that the company's assets are currently generating negative returns on the capital invested.
Valuation Assessment
The trailing P/E ratio is N/A due to the negative net income, while the forward P/E is -7.26, implying that the market is pricing in a turnaround or significant future earnings generation rather than current profitability. The price-to-book ratio is -15.25, a negative figure that indicates the stock is trading below the book value of its assets, often seen in biotechnology or pharmaceutical companies with intangible assets not fully captured on the balance sheet. The price-to-sales ratio is 11.53, and the EV/EBITDA is -6.17, metrics that suggest the market is valuing the company based on revenue multiples and potential growth prospects rather than current earnings power. The 52-week high is $7.55 and the 52-week low is $2.12, establishing a trading range where the stock has experienced significant volatility. Given the current market capitalization of $513.81M, the specific current price is not explicitly provided in the available facts, but the wide spread between the high and low demonstrates substantial price movement over the past year. The beta value of 1.59 indicates that the stock price is significantly more volatile than the broader market, moving roughly 1.59 times as much as the market index during periods of fluctuation.
Growth & Income
Revenue growth year-over-year is 9.7%, while earnings growth is N/A due to the company reporting a net loss; consequently, earnings are not growing faster than revenue because they are currently negative. The company does not pay a dividend, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, which means it reinvests all available earnings—or in this case, utilizes cash reserves—to fund operations and growth initiatives rather than distributing income to shareholders. This non-dividend status is typical for pharmaceutical firms in the early to mid-stages of commercializing new products where capital preservation is prioritized over shareholder payouts. The overall growth and income profile reflects a high-revenue-growth trajectory paired with negative earnings, relying on existing cash balances to sustain operations until profitability is achieved.