Aquestive Therapeutics, Inc. balance sheet

At the end of fiscal 2025, Aquestive Therapeutics, Inc. had total assets of $160m, total liabilities of $194m and shareholders' equity of −$33.7m. It held $121m in cash against $55.0m of debt: net cash of $66.2m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Aquestive Therapeutics, Inc.: balance sheet, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	17	61	49	32	28	27	24	72	121	98
Receivables	6	—	—	—	—	—	8	7	18	9
Inventory	4	5	3	2	4	6	7	6	6	7
Total current assets	28	74	68	45	47	40	41	88	149	118
Total assets	43	87	78	63	62	57	57	101	160	132
Accounts payable	10	20	12	7	8	10	9	10	30	9
Deferred revenue (current)	—	1	1	1	1	2	2	1	1	1
Total current liabilities	15	33	19	21	22	40	18	19	48	16
Short-term debt	—	—	—	—	—	—	—	—	10	0
Long-term debt	—	—	70	52	—	33	45	45	45	55
Total debt	0	5	70	54	54	52	45	45	55	55
Total liabilities	70	77	85	111	144	176	164	162	194	189
Shareholders' equity	−26	10	−6	−48	−82	−119	−106	−60	−34	−57
Net debt (negative = net cash)	−17	−56	21	22	26	25	21	−27	−66	−43
Shares outstanding	—	25m	—	35m	41m	55m	69m	91m	122m	126m

US$ millions unless shown otherwise. Fiscal quarters.

Aquestive Therapeutics, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	—	7	—	—	—	18	7	9
Inventory	7	6	7	8	8	6	8	7
Total current assets	97	88	89	82	152	149	130	118
Total assets	110	101	102	94	164	160	141	132
Accounts payable	8	10	12	12	11	30	12	9
Deferred revenue (current)	1	1	1	1	1	1	1	1
Total current liabilities	15	19	18	23	26	48	32	16
Short-term debt	—	—	—	—	—	10	—	0
Long-term debt	45	45	45	45	45	45	45	55
Total debt	45	45	45	45	45	55	45	55
Total liabilities	155	162	163	166	168	194	175	189
Shareholders' equity	−45	−60	−61	−73	−4	−34	−34	−57
Shares outstanding	91m	91m	99m	99m	122m	122m	124m	126m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Aquestive Therapeutics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Aquestive Therapeutics, Inc.