Liquidia Q1 2026 net income $52.9 million on $129.9 million YUTREPIA sales
Liquidia reported first-quarter 2026 results, its third consecutive quarter of profitability, with net income of $52.9 million compared with a net loss of $38.4 million a year earlier. Product sales of YUTREPIA reached $129.9 million, and cash and cash equivalents rose to $222.8 million. The filing does not include updated financial guidance, and the company also furnished an updated corporate presentation.
Key points
- Total revenue was $132.9 million for the quarter ended March 31, 2026, versus $3.1 million a year earlier.
- Net income was $52.9 million, or $0.52 per diluted share, versus a net loss of $38.4 million, or $0.45 per share, in Q1 2025.
- Adjusted EBITDA was $71.2 million, up from $27.3 million in Q4 2025; cash rose $32.1 million from year-end 2025 to $222.8 million.
- Selling, general and administrative expenses rose to $46.9 million from $30.1 million, and research and development expenses rose to $12.6 million from $7.0 million.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 11, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.