Manufacture & Supply Revenue was Aquestive Therapeutics’s largest product and service line in fiscal 2025, bringing in $40.23M of $44.55M (90%).
| Product and Service | FY 2017 | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Manufacture & Supply Revenue | $36.38M | $43.81M | $39.98M | $40.23M | ||||
| The Aggregate Revenue Generated From Manufacture & Supply | — | — | — | — | ||||
| License & Royalty Revenue | $2.35M | $5.38M | $15.35M | $3.52M | ||||
| The Aggregate Revenue Generated From Licensing & Royalties | — | — | — | — | ||||
| Proprietary Product Sales, Net | $7.66M | — | — | — | ||||
| The Aggregate Revenue Generated From Proprietary Product Sales | — | — | — | — | ||||
| Co-Development & Research Fees | $1.29M | $1.40M | $1.93M | $1.28M | ||||
| The Aggregate Revenue Generated From Co-Development & Research Fees | — | — | — | — | ||||
| Royalty | — | $989.00K | $1.01M | — | ||||
| Proprietary Product Revenue, Net | — | — | $315.00K | -$478.00K | ||||
| Total | $47.68M | $51.57M | $58.57M | $44.55M |
Aquestive Therapeutics brought in $44.55M from its four product and service lines in fiscal 2025, the year ended December 31, 2025. Aquestive Therapeutics regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $58.57M. Manufacture & Supply Revenue was the largest at $40.23M (90.3%), ahead of License & Royalty Revenue at $3.52M (7.9%) and Co-Development & Research Fees at $1.28M (2.9%).
Compared with fiscal 2024, Manufacture & Supply Revenue grew fastest, up 0.6% to $40.23M, while License & Royalty Revenue fell the most, down 77.1% to $3.52M.
Aquestive Therapeutics began breaking out Proprietary Product Revenue, Net in fiscal 2024, when it brought in $315.00K. Aquestive Therapeutics stopped reporting Proprietary Product Sales, Net ($7.66M in fiscal 2022) and Royalty ($1.01M in fiscal 2024) as separate lines. The total is net of Proprietary Product Revenue, Net, which took $478.00K off revenue in fiscal 2025.
United States was Aquestive Therapeutics’s largest region in fiscal 2025, bringing in $29.60M of $44.55M (66%).
| Geography | FY 2017 | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| United States | $40.79M | $37.10M | $39.93M | $29.60M | ||||
| Ex-United States | $6.89M | $13.48M | $17.63M | $14.94M | ||||
| Ex-United States Revenues Comprise The Australian & Malaysian Markets | — | — | — | — | ||||
| Total | $47.68M | $50.58M | $57.56M | $44.55M |
Aquestive Therapeutics brought in $44.55M from its two regions in fiscal 2025, the year ended December 31, 2025. That was down 22.6% from $57.56M in fiscal 2024. United States was the largest at $29.60M (66.5%), ahead of Ex-United States at $14.94M (33.5%).
Compared with fiscal 2024, Ex-United States fell 15.3% to $14.94M and United States fell 25.9% to $29.60M. From fiscal 2022 to 2025, combined revenue from these regions fell from $47.68M to $44.55M, a compound annual decline of 2.2%. United States' share of the total fell from 85.6% to 66.5%.
Aquestive Therapeutics (AQST) reports its revenue by product and service and by geography. In fiscal 2025, Manufacture & Supply Revenue was its largest product and service line, bringing in $40.23M (90.3% of the total), followed by License & Royalty Revenue at $3.52M (7.9%).
Manufacture & Supply Revenue was Aquestive Therapeutics' largest product and service line in fiscal 2025, bringing in $40.23M, or 90.3% of the $44.55M total across its four product and service lines.
United States was Aquestive Therapeutics' largest region in fiscal 2025, bringing in $29.60M, or 66.5% of the $44.55M total across its two regions.
Every figure comes from Aquestive Therapeutics' annual financial filings, as reported. Each line keeps the name Aquestive Therapeutics gives it, and years follow its fiscal calendar.
Aquestive Therapeutics' revenue by product and service goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.