SequelSEC

Liquidia Corp LQDA

Pharmaceutical Preparations · CIK 0001819576 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$171.68M
Fiscal year ended 2026-06-30
Operating income
$85.52M
Fiscal year ended 2026-06-30
Free cash flow
$69.01M
Fiscal year ended 2026-06-30

Liquidia Corp (LQDA) reported revenue of $171.68M and net income of $74.72M for the fiscal year ended 2026-06-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Liquidia Corp’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.

Income

Liquidia Corp income by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-302024-03-31
Revenue$171.68M$132.86M$92.02M$54.34M$8.84M$3.12M$2.92M$4.45M$3.66M$2.97M
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailable$1.52M$1.35M$1.56M$1.49M$1.47M
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$1.50M
Operating income$85.52M$61.50M$19.79M$1.77M-$37.50M-$35.42M-$36.11M-$29.19M-$27.20M-$28.80M
Net income$74.72M$52.86M$14.56M-$3.53M-$41.58M-$38.37M-$38.51M-$31.03M-$28.67M-$30.08M
Research & development$17.18M$12.57M$16.94M$9.35M$6.02M$6.97M$16.48M$11.89M$9.42M$10.06M
Weighted-average diluted sharesshares 101.40Mshares 101.11MUnavailableshares 86.33Mshares 85.59Mshares 85.17MUnavailableshares 78.32Mshares 76.44Mshares 75.39M
Pretax income$81.70M$56.78MUnavailableUnavailable-$41.58M-$38.37MUnavailableUnavailableUnavailableUnavailable
Income tax expense$6.98M$3.92MUnavailableUnavailable$0$0UnavailableUnavailableUnavailableUnavailable
Diluted EPS$0.74$0.52Unavailable$-0.04$-0.49$-0.45Unavailable$-0.40$-0.38$-0.40
Selling, general & administrative$57.43M$46.94M$48.24M$40.06M$38.82M$30.06M$21.20M$20.18M$19.94MUnavailable
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailable$30.06M$21.20M$20.18M$19.94M$20.25M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Liquidia Corp balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-302024-03-31
Cash & equivalents$284.18M$222.79M$190.68M$157.50M$173.42M$169.76M$176.48M$204.37M$133.09M$157.86M
Total assets$521.92M$401.53M$327.93M$275.98M$257.41M$227.43M$230.31M$252.89M$177.36M$197.12M
Current assets$437.71M$333.06M$273.40M$226.72M$195.58M$177.20M$185.10M$214.21M$147.26M$167.94M
Total liabilities$326.80M$292.95M$283.19M$253.93M$242.22M$177.72M$150.94M$142.37M$114.64M$100.01M
Current liabilities$189.30M$149.74M$135.77M$102.94M$78.41M$60.52M$41.78M$33.84M$24.22M$21.92M
Total equity incl. NCI$195.11M$108.58M$44.75M$22.05M$15.19M$49.71M$79.38M$112.76M$72.84M$97.10M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Inventory$36.18M$28.51M$23.80M$24.53M$6.44M$1.35M$241.00K$38.00KUnavailableUnavailable
Accounts receivable$108.58M$74.16M$54.09M$35.96M$9.97M$1.25M$2.72M$4.20M$3.25M$2.57M
Goodwill$3.90M$3.90M$3.90M$3.90M$3.90M$3.90M$3.90M$3.90M$3.90M$3.90M
Long-term debtUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts payable$12.75M$10.98M$3.68M$6.02M$11.35M$8.68M$4.69M$2.30M$5.74M$2.49M

Cash flow

Liquidia Corp cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-302024-03-31
Operating cash flow$80.24M$52.99M$44.24M-$9.77M-$39.48M-$30.68M-$20.81M-$25.08M-$22.66M-$24.87M
Capital expenditures$11.24M$2.83M$2.04M$911.00K$1.06M$330.00K$1.29M$1.75M$1.29M$624.00K
Investing cash flow-$12.24M-$2.83M-$4.04M-$911.00K-$1.06M-$330.00K-$4.78M-$1.75M-$1.29M-$624.00K
Financing cash flow-$6.61M-$18.05M-$7.02M-$5.24M$47.71M$24.29M-$2.30M$98.10M-$814.00K$99.67M
Net change in cash$61.40M$32.11M$33.18M-$15.93M$7.17M-$6.72M-$27.89M$71.28M-$24.76M$74.18M
Stock-based compensation$10.37M$9.22M$7.21M$7.90M$6.93M$7.44M$5.03M$4.88M$4.37M$4.52M
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$300.00K$497.00K$200.00K$300.00K$200.00K$451.00K$518.00K$300.00K$200.00K$489.00K

Derived

Liquidia Corp derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-302024-03-31
Free cash flow$69.01M$50.16M$42.21M-$10.68M-$40.54M-$31.01M-$22.10M-$26.83M-$23.95M-$25.49M
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable50.6%
Operating margin49.8%46.3%21.5%3.3%-424.4%-1135.4%-1237.8%-656.2%-743.3%-969.1%
FCF margin40.2%37.8%45.9%-19.7%-458.7%-993.9%-757.7%-603.2%-654.6%-857.7%
SBC / revenue6.0%6.9%7.8%14.5%78.4%238.4%172.4%109.7%119.5%152.2%
Current ratio2.31x2.22x2.01x2.20x2.49x2.93x4.43x6.33x6.08x7.66x
Revenue YoY growth1842.7%4158.5%3054.6%1121.7%141.5%5.0%-35.6%20.9%-23.5%-33.9%
Net margin43.5%Unavailable15.8%-6.5%-470.5%Unavailable-1320.2%-697.6%UnavailableUnavailable
R&D / revenue10.0%9.5%18.4%17.2%68.1%223.3%564.8%267.3%257.4%338.4%
CapEx / revenue6.5%2.1%2.2%1.7%12.0%10.6%44.2%39.3%35.3%21.0%
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rate8.5%6.9%UnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open LQDA in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-12View SEC filing
10-Q · Filed 2026-05-11View SEC filing
10-K · Filed 2026-03-05View SEC filing
10-Q · Filed 2025-11-03View SEC filing
10-Q · Filed 2025-08-12View SEC filing
10-Q · Filed 2025-05-08View SEC filing

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Reconciliation checks needing review

7 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

gross profit bridgeinconsistent2025-03-31

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2024-12-31

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2024-09-30

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2024-06-30

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2023-12-31

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

balance equationreview2024-09-30

Difference 2244000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.

balance equationreview2024-06-30

Difference 10119000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.