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Liquidia Corporation (LQDA)

Nasdaq Health Care Pharmaceuticals S&P SmallCap 600
$44.40
-0.09 (-0.20%)
Close of Nov 06, 2026 · end-of-day data
Source: Liquidia Corporation's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$8.07M$739.63K$12.85M$15.94M$17.49M$14.00M$158.32M
Cost of revenue—$237.71K$3.02M$2.86M$2.89M$5.88M—
Gross profit—$501.92K$9.83M$13.08M$14.60M$8.12M—
Research & development$40.49M$32.22M$20.52M$19.43M$43.24M$47.84M$39.28M
Selling, general & admin————$44.74M$81.57M$157.18M
Operating income-$46.82M-$59.09M-$33.80M-$38.77M-$73.38M-$121.29M-$51.38M
Interest expense$1.37M$858.00K$762.00K$2.34M$6.27M$14.65M$24.17M
Income tax$0$0$0$0$0$0$0
Net income-$47.58M-$59.76M-$34.58M-$41.02M-$78.50M-$128.29M-$68.92M
EBITDA-$44.26M-$55.96M-$28.18M-$35.12M-$71.21M-$119.10M-$49.85M
EPS (basic)$-2.57$-1.76$-0.70$-0.67$-1.21$-1.63$-0.80
EPS (diluted)$-2.57$-1.76$-0.70$-0.67$-1.21$-1.63$-0.80
Diluted shares18.48M33.89M49.68M60.96M64.99M78.71M86.06M
Gross margin—67.9%76.5%82.1%83.5%58.0%—
Operating margin-580.1%-7989.0%-263.0%-243.3%-419.6%-866.6%-32.5%
Net margin-589.5%-8080.1%-269.0%-257.4%-448.9%-916.6%-43.5%

Balance sheet

fiscal years · USD
Fiscal yearFY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$55.80M$65.32M$57.49M$93.28M$83.68M$176.48M$190.68M
Receivables—$0$2.99M$5.02M$4.06M$2.72M$54.09M
Inventory—————$241.00K$23.80M
Total current assets$56.39M$66.07M$61.28M$99.81M$89.90M$185.10M$273.40M
Goodwill$0$3.90M$3.90M$3.90M$3.90M$3.90M$3.90M
Total assets$68.84M$99.53M$93.73M$129.20M$118.33M$230.31M$327.93M
Total current liabilities$16.87M$11.74M$7.33M$8.80M$18.55M$41.78M$135.77M
Short-term debt$5.59M$0—————
Long-term debt$10.29M$10.29M$10.41M$19.88M———
Total debt$15.88M$10.29M$10.41M$19.88M———
Total liabilities$33.89M$28.45M$28.46M$38.78M$71.04M$150.94M$283.19M
Shareholders' equity$34.95M$71.09M$65.27M$90.42M$47.29M$79.38M$44.75M

Cash flow

fiscal years · USD
Fiscal yearFY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow-$48.28M-$54.14M-$34.03M-$28.59M-$41.56M-$93.42M-$35.69M
Capital expenditures$1.85M$752.09K$107.00K$592.00K$1.29M$4.95M$4.34M
Free cash flow-$50.13M-$54.90M-$34.14M-$29.18M-$42.85M-$98.37M-$40.02M
Investing cash flow-$1.85M$247.91K-$107.00K-$587.00K-$11.29M-$8.44M-$6.34M
Financing cash flow$66.39M$63.42M$26.32M$64.96M$43.25M$194.66M$59.73M
Stock-based compensation$3.38M$3.95M$6.75M$9.30M$10.09M$18.81M$29.47M
Depreciation & amortization$2.57M$3.13M$5.61M$3.65M$2.18M$2.20M$1.53M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.