AQST - Aquestive beats Q2 estimates; FY21 revenue guidance raise tops consensus

Aquestive Therapeutics (NASDAQ:AQST) gains 7% after-hours after reporting consensus beating results for Q2 ended June 30, 2021. Total revenues fell 29.2% Y/Y to $15.3M, but ahead of analyst forecast of $9.48M. Sympazan net revenue surged 47% compared to prior year. Shipment volume grew ~14% Q/Q and 57% Y/Y. Non-GAAP gross margin of 75%. Net loss for Q2 was $12.4M, or $0.33 per share vs. $2.3M, or $0.07 per share in 2020. The analysts expectation was loss per share of $0.43. Adjusted EBITDA loss was $4.1M, compared to a $2.9M gain in prior year. The company has raised FY21 outlook for Total Revenue to $46M to $48M (consensus $40.06M) from prior guidance of $38M to $42M; Non-GAAP adjusted gross margins of 70% to 75% (unchanged). Non-GAAP adjusted EBITDA loss guidance is also revised to $39M to $42M from $42M to $45M, previously. The FDA has accepted for filing the resubmission of NDA for

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Aquestive beats Q2 estimates; FY21 revenue guidance raise tops consensus