Fundies.
English

LIQUIDIA CORPORATION

EDGAR
LQDA Current report (8-K) · filed 2026-10-14

Annual consolidated revenue for 2025: about Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 158.3M, using the latest reported figures. The previous period, 2024, was about Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 14M.

Inspect reported changes Compare with another company Historical disclosures Search filings Segments
Watchlist

Latest quarter

Revenue

172 million Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w

2026 Q2 · Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w

Exact inputs and evidence
  • Revenue: 171679000 Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w Source

Operating margin

49.81%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 85517000 Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w Source
  • Revenue: 171679000 Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w Source
Cash and cash equivalents
284 million Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w Source
Exact value

284181000 Unit_Standard_USD_Z66IEBlXHEKdVQ4rns0H7w

Long-term debt including current maturities
19.9 million Unit_Standard_USD_MsAlnKphpEu3GsjZD8hHvA Source
Exact value

19879000 Unit_Standard_USD_MsAlnKphpEu3GsjZD8hHvA

Shares outstanding
89.1 million Unit_Standard_shares_rImcaBBKQUWE8Bijb3fDiw Source
Exact value

89099459 Unit_Standard_shares_rImcaBBKQUWE8Bijb3fDiw

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-14.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 3 of 11 periods available· newest 2025-12-31
  • Operating income: 3 of 11 periods available· newest 2025-12-31
  • Net income: 3 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 3 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 3 of 11 periods available· newest 2025-12-31
  • Total assets: Multiple units; comparison withheld· newest 2025-12-31
  • Total liabilities: Multiple units; comparison withheld· newest 2025-12-31
  • Current assets: Multiple units; comparison withheld· newest 2025-12-31
  • Current liabilities: Multiple units; comparison withheld· newest 2025-12-31
  • Cash and cash equivalents: Multiple units; comparison withheld· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2022-12-31
  • Shares outstanding: Multiple units; comparison withheld· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +1,031.2%

    Prior period

    Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 14 million

    –

    Current period

    Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 158.32 million

    –

    Exact inputs and evidence

    158320000 − 13996000 = 144324000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

    13996000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    158320000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Net income

    +Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 59.4 million

    Prior period

    −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 128.3 million

    –

    Current period

    −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 68.9 million

    –

    Exact inputs and evidence

    -68900000 − -128300000 = 59400000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

    -128300000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -68900000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Operating cash flow

    +Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 57.74 million

    Prior period

    −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 93.42 million

    –

    Current period

    −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 35.69 million

    –

    Exact inputs and evidence

    -35686000 − -93422000 = 57736000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

    -93422000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -35686000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

  • Capital expenditure

    -12.4%

    Prior period

    Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 4.95 million

    –

    Current period

    Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 4.34 million

    –

    Exact inputs and evidence

    4336000 − 4949000 = -613000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

    4949000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    4336000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw · 2025-01-01 – 2025-12-31

    Inspect current input Current source
    Share or cite

    The citation records this snapshot. The page link may show a newer release later.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 158.32 million 100% of revenue
  • Operating costs Derived Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 209.7 million 132% of revenue
  • Operating income −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 51.38 million −32% of revenue
  • Tax, interest and other Derived Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 17.52 million 11% of revenue
  • Net income −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 68.9 million −44% of revenue

Cash

  • Operating cash flow −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 35.69 million −23% of revenue
  • Capital expenditure Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 4.34 million 2.7% of revenue
  • Free cash flow Derived −Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 40.02 million −25% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2023 Operating loss: operating costs were 520% of revenue.
  • 2024 Operating loss: operating costs were 967% of revenue.
  • 2025 Operating loss: operating costs were 132% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2023 2023-01-01 – 2023-12-3117488000 90872000 Derived -73384000 5116000 Derived -78500000 -42854000 Derived
Source
2024 2024-01-01 – 2024-12-3113996000 135290000 Derived -121294000 7006000 Derived -128300000 -98371000 Derived
Source
2025 2025-01-01 – 2025-12-31158320000 209696000 Derived -51376000 17524000 Derived -68900000 -40022000 Derived
Source

Amounts are exact, in Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 158.3M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.171.0M128.2M85.5M42.7M0.0202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw)Source evidence
2023Revenue17488000
2024Revenue13996000
2025Revenue158320000

Revenue growth

Change in revenue from the same financial period one year earlier.

1,031.2% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1,115%810%506%201%-104%202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2023Year over yearNo prior comparable period
2024Year over year-20%
2025Year over year1,031.2%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -32.5% 2025
Net margin -43.5% 2025
Free cash flow margin -25.3% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.73%-193%-458%-724%-990%202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2023Operating margin-419.6%
2024Operating margin-866.6%
2025Operating margin-32.5%
2023Net margin-448.9%
2024Net margin-916.7%
2025Net margin-43.5%
2023Free cash flow margin-245%
2024Free cash flow margin-702.9%
2025Free cash flow margin-25.3%

Operating cash flow

Cash generated by the company’s normal business operations.

Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw -35.7M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.7.5M-19.6M-46.7M-73.8M-100.9M202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw)Source evidence
2023Operating cash flow-41564000
2024Operating cash flow-93422000
2025Operating cash flow-35686000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw -40M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.7.9M-20.7M-49.2M-77.7M-106.2M202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw)Source evidence
2023Free cash flow-42854000
2024Free cash flow-98371000
2025Free cash flow-40022000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

Not enough comparable data to show this history.
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2023-12-31Liabilities / assetsNot reportedNo source recorded
2024-12-31Liabilities / assetsNot reportedNo source recorded
2025-12-31Liabilities / assetsNot reportedNo source recorded

Current assets to current liabilities

Current assets divided by current liabilities.

Not enough comparable data to show this history.
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024-12-31Current assets / current liabilitiesNot reportedNo source recorded
2025-12-31Current assets / current liabilitiesNot reportedNo source recorded

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2023 2023-01-01 – 2023-12-31
−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 78.5 million
Exact value

Exact value: -78500000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2023-01-01 – 2023-12-31: -78500000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 41.56 million
Exact value

Exact value: -41564000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2023-01-01 – 2023-12-31: -41564000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 1.29 million
Exact value

Exact value: 1290000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2023-01-01 – 2023-12-31: 1290000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 42.85 million
Calculation and evidence

-41564000 − 1290000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

Exact free cash flow: -42854000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2024 2024-01-01 – 2024-12-31
−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 128.3 million
Exact value

Exact value: -128300000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2024-01-01 – 2024-12-31: -128300000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 93.42 million
Exact value

Exact value: -93422000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2024-01-01 – 2024-12-31: -93422000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 4.95 million
Exact value

Exact value: 4949000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2024-01-01 – 2024-12-31: 4949000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 98.37 million
Calculation and evidence

-93422000 − 4949000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

Exact free cash flow: -98371000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

Share or cite

The citation records this snapshot. The page link may show a newer release later.

2025 2025-01-01 – 2025-12-31
−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 68.9 million
Exact value

Exact value: -68900000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2025-01-01 – 2025-12-31: -68900000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Net Income Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 35.69 million
Exact value

Exact value: -35686000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2025-01-01 – 2025-12-31: -35686000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Operating Cash Flow Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 4.34 million
Exact value

Exact value: 4336000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

2025-01-01 – 2025-12-31: 4336000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw Inspect Capital Expenditure Open source
Share or cite

The citation records this snapshot. The page link may show a newer release later.

−Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw 40.02 million
Calculation and evidence

-35686000 − 4336000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

Exact free cash flow: -40022000 Unit_Standard_USD_JI8EXv52aEaOKa3cBWN8iw

Share or cite

The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

32 filings · 3,280 latest values · 3,280 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001819576, 1819576, LQDA, edgar:1819576

Also known as LIQUIDIA CORPORATION, LIQUIDIA CORPORATION, Liquidia Corp, Liquidia Corporation