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Side-by-side financial comparison of Aquestive Therapeutics, Inc. (AQST) and Canaan Inc. (CAN). Click either name above to swap in a different company.
Canaan Inc. is the larger business by last-quarter revenue ($20.8M vs $13.0M, roughly 1.6× Aquestive Therapeutics, Inc.). Canaan Inc. runs the higher net margin — -18.4% vs -244.8%, a 226.4% gap on every dollar of revenue.
Aquestive Therapeutics is a specialty pharmaceutical company focused on developing and commercializing innovative treatments for central nervous system disorders. It leverages proprietary drug delivery technologies to create accessible, patient-friendly therapeutic options, serving healthcare providers and patients across North America and European markets, with core offerings addressing unmet needs in neurology and psychiatry.
Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a Singapore-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.
AQST vs CAN — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.0M | $20.8M |
| Net Profit | $-31.9M | $-3.8M |
| Gross Margin | 55.2% | 99.9% |
| Operating Margin | -221.6% | -15.9% |
| Net Margin | -244.8% | -18.4% |
| Revenue YoY | 9.7% | — |
| Net Profit YoY | -86.8% | — |
| EPS (diluted) | $-0.26 | $-0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.0M | $20.8M | ||
| Q3 25 | $12.8M | $13.8M | ||
| Q2 25 | $10.0M | $11.4M | ||
| Q1 25 | $8.7M | — | ||
| Q4 24 | $11.9M | — | ||
| Q3 24 | $13.5M | $10.2M | ||
| Q2 24 | $20.1M | $4.8M | ||
| Q1 24 | $12.1M | — |
| Q4 25 | $-31.9M | $-3.8M | ||
| Q3 25 | $-15.4M | $-1.5M | ||
| Q2 25 | $-13.5M | $-11.9M | ||
| Q1 25 | $-22.9M | — | ||
| Q4 24 | $-17.1M | — | ||
| Q3 24 | $-11.5M | $-10.4M | ||
| Q2 24 | $-2.7M | $-5.4M | ||
| Q1 24 | $-12.8M | — |
| Q4 25 | 55.2% | 99.9% | ||
| Q3 25 | 64.8% | 99.9% | ||
| Q2 25 | 54.4% | 99.9% | ||
| Q1 25 | 58.1% | — | ||
| Q4 24 | 61.9% | — | ||
| Q3 24 | 67.2% | 99.9% | ||
| Q2 24 | 77.5% | 99.8% | ||
| Q1 24 | 63.6% | — |
| Q4 25 | -221.6% | -15.9% | ||
| Q3 25 | -89.6% | -27.0% | ||
| Q2 25 | -113.6% | -45.5% | ||
| Q1 25 | -222.1% | — | ||
| Q4 24 | -114.4% | — | ||
| Q3 24 | -61.2% | -77.2% | ||
| Q2 24 | 0.3% | -193.9% | ||
| Q1 24 | -74.3% | — |
| Q4 25 | -244.8% | -18.4% | ||
| Q3 25 | -120.6% | -11.0% | ||
| Q2 25 | -135.4% | -104.4% | ||
| Q1 25 | -263.0% | — | ||
| Q4 24 | -143.7% | — | ||
| Q3 24 | -85.0% | -102.7% | ||
| Q2 24 | -13.7% | -112.3% | ||
| Q1 24 | -106.4% | — |
| Q4 25 | $-0.26 | $-0.05 | ||
| Q3 25 | $-0.14 | $-0.02 | ||
| Q2 25 | $-0.14 | $-0.25 | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $-0.18 | — | ||
| Q3 24 | $-0.13 | — | ||
| Q2 24 | $-0.03 | — | ||
| Q1 24 | $-0.17 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $27.5M | $6.2M |
| Stockholders' EquityBook value | $-33.7M | $52.4M |
| Total Assets | $160.4M | $92.5M |
| Debt / EquityLower = less leverage | — | 0.12× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $129.1M | — | ||
| Q2 25 | $60.5M | — | ||
| Q1 25 | $68.7M | — | ||
| Q4 24 | $71.5M | — | ||
| Q3 24 | $77.9M | — | ||
| Q2 24 | $89.9M | — | ||
| Q1 24 | $95.2M | — |
| Q4 25 | $27.5M | $6.2M | ||
| Q3 25 | $45.0M | $6.2M | ||
| Q2 25 | $45.0M | $6.2M | ||
| Q1 25 | $45.0M | — | ||
| Q4 24 | $32.5M | — | ||
| Q3 24 | $45.0M | — | ||
| Q2 24 | $45.0M | — | ||
| Q1 24 | $45.0M | — |
| Q4 25 | $-33.7M | $52.4M | ||
| Q3 25 | $-4.1M | $44.7M | ||
| Q2 25 | $-72.6M | $33.8M | ||
| Q1 25 | $-60.9M | — | ||
| Q4 24 | $-60.2M | — | ||
| Q3 24 | $-45.4M | $43.6M | ||
| Q2 24 | $-35.5M | $56.8M | ||
| Q1 24 | $-36.3M | — |
| Q4 25 | $160.4M | $92.5M | ||
| Q3 25 | $163.6M | $81.7M | ||
| Q2 25 | $93.7M | $78.0M | ||
| Q1 25 | $102.2M | — | ||
| Q4 24 | $101.4M | — | ||
| Q3 24 | $110.0M | $69.3M | ||
| Q2 24 | $117.6M | $73.7M | ||
| Q1 24 | $129.5M | — |
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-8.5M | — |
| Free Cash FlowOCF − Capex | $-8.6M | — |
| FCF MarginFCF / Revenue | -65.7% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-53.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.5M | — | ||
| Q3 25 | $-12.6M | — | ||
| Q2 25 | $-7.9M | — | ||
| Q1 25 | $-23.4M | — | ||
| Q4 24 | $-6.5M | — | ||
| Q3 24 | $-11.9M | — | ||
| Q2 24 | $-7.0M | — | ||
| Q1 24 | $-10.4M | — |
| Q4 25 | $-8.6M | — | ||
| Q3 25 | $-12.9M | — | ||
| Q2 25 | $-8.0M | — | ||
| Q1 25 | $-23.5M | — | ||
| Q4 24 | $-6.5M | — | ||
| Q3 24 | $-12.0M | — | ||
| Q2 24 | $-7.0M | — | ||
| Q1 24 | $-10.4M | — |
| Q4 25 | -65.7% | — | ||
| Q3 25 | -100.6% | — | ||
| Q2 25 | -80.2% | — | ||
| Q1 25 | -269.9% | — | ||
| Q4 24 | -54.8% | — | ||
| Q3 24 | -88.3% | — | ||
| Q2 24 | -35.0% | — | ||
| Q1 24 | -86.4% | — |
| Q4 25 | 0.7% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.2% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
