Acasti Pharma Inc (ACST.V) Q4 2025 Earnings Report

Acasti Pharma reported its QQ4 2025 results with revenue of $8.0 million and gross profit of $5.0 million, yielding a gross margin of 62.5%. Despite substantial operating expenses of approximately $3.183 million, the company reported a net income of $0.636 million for the quarter. The earnings were supported by $2.801 million of total other income and a tax benefit of $1.018 million, resulting in a positive bottom line even as EBITDA remained deeply negative at about $3.181 million. The balance sheet shows meaningful liquidity with a current ratio of 11.77, no long-term debt, and cash per share of $1.613, indicating a robust cash runway to fund ongoing R&D and partnership discussions. Net income and EPS showed solid year-over-year and quarter-over-quarter improvement (net income yoy +120.1%, qoq +115.3%; EPS yoy +113.7%, qoq +112.9%), yet the business remains heavily dependent on non-operating items to generate reported profits. Management focus remains on pursuing strategic CaPre partnerships to advance clinical development, while controlling operating burn and extending runway. Absent a formal forward guidance in the materials, investors should monitor R&D cadence, partnership milestones, and any changes in working capital as key indicators of longer-term profitability and market adoption.