Aquestive Therapeutics (AQST) Operating Expenses (2017 - 2026)

Aquestive Therapeutics' (AQST) quarterly Operating Expenses came in at $18.6 million in Q1 2026, down 33.59% year-on-year from $28.1 million in Q1 2025, and down 55.44% quarter-over-quarter from $41.9 million in Q4 2025.

Aquestive Therapeutics (AQST) Operating Expenses (2017 - 2026) Analysis & Trends

Aquestive Therapeutics' Operating Expenses history runs 10 years deep, the most recent figure standing at $18.6 million for Q1 2026.

  • On a quarterly basis, Operating Expenses fell 33.59% year-over-year to $18.6 million in Q1 2026; TTM through Mar 2026 was $106.2 million, a 11.27% increase from a year earlier, with the FY2025 full-year figure at $115.6 million, up 30.87% from the prior year.
  • Operating Expenses retreated to $18.6 million in Q1 2026 per AQST's latest filing, from $41.9 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $41.9 million in Q4 2025 and bottomed at $15.4 million in Q3 2023.
  • The 5-year median for Operating Expenses is $21.4 million (2025), against an average of $22.2 million.
  • Across the five-year window, Operating Expenses surged 64.48% in 2025 and tumbled 33.59% in 2026, its largest moves.
  • Year by year, Operating Expenses stood at $21.4 million in 2022, then decreased by 20.0% to $17.1 million in 2023, then surged by 48.66% to $25.4 million in 2024, then jumped by 64.48% to $41.9 million in 2025, then tumbled by 55.44% to $18.6 million in 2026.
  • Per Business Quant, the three latest AQST Operating Expenses figures stand at $18.6 million (Q1 2026), $41.9 million (Q4 2025), and $24.3 million (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Haleon 87.22 Bn 85.35 Bn - -
2 Teva Pharmaceutical Industries 39.60 Bn 35.87 Bn 1.97 Bn 1.00 Bn
3 Zoetis 31.46 Bn 29.52 Bn 1.62 Bn 788.00 Mn
4 Takeda Pharmaceutical 26.49 Bn 22.44 Bn 4.39 Bn 12.58 Bn
5 United Therapeutics 23.03 Bn 20.88 Bn 648.10 Mn 455.70 Mn
6 Universe Pharmaceuticals 23.03 Bn -10.56 Bn - -
7 Viatris 20.90 Bn 19.09 Bn 1.16 Bn 1.24 Bn
8 Neurocrine Biosciences 17.50 Bn 16.19 Bn 800.70 Mn 621.10 Mn
9 Elanco Animal Health 12.33 Bn 11.91 Bn 785.00 Mn 494.00 Mn
10 Aquestive Therapeutics 462.24 Mn 462.24 Mn 13.47 Mn 18.65 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 18.65 Mn
Dec 31, 2025 41.85 Mn
Sep 30, 2025 24.29 Mn
Jun 30, 2025 21.37 Mn
Mar 31, 2025 28.09 Mn
Dec 31, 2024 25.45 Mn
Sep 30, 2024 21.83 Mn
Jun 30, 2024 20.04 Mn
Mar 31, 2024 21.01 Mn
Dec 31, 2023 17.12 Mn
Sep 30, 2023 15.38 Mn
Jun 30, 2023 17.45 Mn
Mar 31, 2023 15.74 Mn
Dec 31, 2022 21.40 Mn
Sep 30, 2022 20.32 Mn
Jun 30, 2022 26.03 Mn
Mar 31, 2022 22.01 Mn
Dec 31, 2021 22.75 Mn
Sep 30, 2021 21.26 Mn
Jun 30, 2021 21.86 Mn