LQDA
$36.35+6.50%
Liquidia CorporationStock · HealthcareRussell 2000 · 0.2% of IWMNasdaq Composite · 0.01% of ONEQUS Stock Market · 0.008% of VTIRussell 3000 · 0.007% of IWV
LQDA financial statements
The full income statement, balance sheet, and cash-flow statement for Liquidia Corporation (LQDA), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 76.8M2024-09 84.6M2024-12 85.3M2025-03 85.5M2025-06 86.1M2025-09 87.0M2025-12 88.1M2026-03 88.9M2026-06 89.5M+16.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 158M+1031.2% | 14.0M-20.0% | 17.5M+9.7% | 15.9M+24.0% | 12.9M+1637.8% | |
| Cost of revenue | — | 5.88M+103.6% | 2.89M+1.0% | 2.86M-5.4% | 3.02M+1171.7% | |
| Research & development | 39.3M-17.9% | 47.8M+10.6% | 43.2M+122.5% | 19.4M-5.3% | 20.5M-36.3% | |
| Selling, general & administrative | 157M+92.7% | 81.6M+82.3% | 44.7M+38.0% | 32.4M+40.2% | 23.1M-15.6% | |
| General & administrative | — | 81.6M+82.3% | 44.7M+38.0% | 32.4M+40.2% | 23.1M-15.6% | |
| Amortization of intangibles | 200K-33.3% | 300K+0.0% | 300K-57.1% | 700K-36.4% | 1.10M | |
| Operating income | -51.4M+57.6% | -121M-65.3% | -73.4M-89.3% | -38.8M-14.7% | -33.8M+42.8% | |
| Interest expense | 24.2M+65.0% | 14.7M+133.6% | 6.27M+168.3% | 2.34M+206.8% | 762K-11.2% | |
| Interest & investment income | 6.62M-13.5% | 7.65M+120.8% | 3.47M+218.0% | 1.09M+3203.0% | 33.0K-82.1% | |
| Other non-operating income | -17.5M-150.8% | -7.00M-36.7% | -5.12M-128.0% | -2.25M-187.1% | -782K-16.1% | |
| Income tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net income | -68.9M+46.3% | -128M-63.4% | -78.5M-91.4% | -41.0M-18.6% | -34.6M+42.1% | |
| -$0.80+50.9% | -$1.63-34.7% | -$1.21-80.6% | -$0.67+4.3% | -$0.70+60.2% | ||
| EPS (basic) | -$0.80+50.9% | -$1.63-34.7% | -$1.21-80.6% | -$0.67+4.3% | -$0.70+60.2% | |
| Weighted-avg shares (basic) | 86.1M+9.3% | 78.7M+21.1% | 65.0M+6.6% | 61.0M+22.7% | 49.7M+46.6% | |
| Weighted-avg shares (diluted) | 86.1M+9.3% | 78.7M+21.1% | 65.0M+6.6% | 61.0M+22.7% | 49.7M+46.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 273M+47.7% | 185M+105.9% | 89.9M-9.9% | 99.8M+62.9% | 61.3M-7.3% | ||
| Cash & equivalents | 191M+8.0% | 176M+110.9% | 83.7M-10.3% | 93.3M+62.2% | 57.5M-12.0% | |
| Accounts receivable | 54.1M+1889.4% | 2.72M-33.0% | 4.06M-19.1% | 5.02M+67.8% | 2.99M | |
| Inventory | 23.8M+9776.3% | 241K | — | — | — | |
| Prepaid expenses | 4.83M-14.8% | 5.67M+162.4% | 2.16M+42.9% | 1.51M+90.8% | 792K+5.3% | |
| 328M+42.4% | 230M+94.6% | 118M-8.4% | 129M+37.8% | 93.7M-5.8% | ||
| Property, plant & equipment | 11.8M+42.7% | 8.30M+85.2% | 4.48M+7.9% | 4.15M-17.3% | 5.02M-26.3% | |
| Operating lease right-of-use | 3.95M-5.7% | 4.19M+145.7% | 1.70M-18.9% | 2.10M-12.9% | 2.41M-9.0% | |
| Goodwill | 3.90M+0.0% | 3.90M+0.0% | 3.90M+0.0% | 3.90M+0.0% | 3.90M-0.0% | |
| Intangible assets | 2.95M-6.5% | 3.16M-8.0% | 3.43M-7.9% | 3.73M-15.1% | 4.39M-20.7% | |
| Other non-current assets | 13.2M+20.6% | 10.9M+3704.2% | 287K | — | — | |
| 136M+225.0% | 41.8M+125.2% | 18.6M+110.8% | 8.80M+20.1% | 7.33M-37.6% | ||
| Accounts payable | 3.68M-21.6% | 4.69M+235.9% | 1.40M-36.5% | 2.20M+105.3% | 1.07M-71.3% | |
| Current lease liability | — | — | 1.03M+14.7% | 900K+16.1% | 775K+16.6% | |
| Finance lease liability (current) | — | — | 107K-40.9% | 181K-41.8% | 311K-66.3% | |
| 283M+87.6% | 151M+112.5% | 71.0M+83.2% | 38.8M+36.2% | 28.5M+0.1% | ||
| Long-term debt | — | — | — | 19.9M+91.0% | 10.4M+1.1% | |
| Non-current lease liability | — | — | 2.30M-31.0% | 3.33M-21.3% | 4.23M-15.5% | |
| Operating lease liability (total) | — | 6.94M+108.3% | 3.33M-21.3% | 4.23M-15.5% | 5.01M-11.7% | |
| Finance lease liability (total) | — | 63.0K-63.2% | 171K-51.4% | 352K-46.9% | 663K-43.8% | |
| Finance lease liability | — | — | 64.0K-62.6% | 171K-51.4% | 352K+37.8% | |
| 44.7M-43.6% | 79.4M+67.8% | 47.3M-47.7% | 90.4M+38.5% | 65.3M-8.2% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 87.0K+2.4% | 85.0K+23.2% | 69.0K+7.8% | 64.0K+23.1% | 52.0K+20.0% | |
| Additional paid-in capital | 671M+5.4% | 637M+33.7% | 476M+8.0% | 441M+17.7% | 375M+8.3% | |
| Retained earnings | -626M-12.4% | -557M-29.9% | -429M-22.4% | -351M-13.2% | -310M-12.6% | |
| Total liabilities & equity | 328M+42.4% | 230M+94.6% | 118M-8.4% | 129M+37.8% | 93.7M-5.8% | |
| Common shares issued | 87.2M+3.0% | 84.7M+23.4% | 68.6M+6.4% | 64.5M+23.4% | 52.3M+20.7% | |
| Common shares outstanding | 87.2M+3.0% | 84.7M+23.4% | 68.6M+6.4% | 64.5M+23.4% | 52.3M+20.7% | |
| Shares outstanding (cover) | 88.1M+3.3% | 85.3M+12.2% | 76.0M+17.5% | 64.7M+23.4% | 52.4M+21.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -35.7M+61.8% | -93.4M-124.8% | -41.6M-45.4% | -28.6M+16.0% | -34.0M+37.1% | ||
| Depreciation & amortization | 1.53M-30.5% | 2.20M+0.9% | 2.18M-40.3% | 3.65M-35.0% | 5.61M+79.3% | |
| Intangible amortization | 200K-33.3% | 300K+0.0% | 300K-57.1% | 700K-36.4% | 1.10M | |
| Share-based compensation | 29.5M+56.7% | 18.8M+86.4% | 10.1M+8.5% | 9.30M+37.8% | 6.75M+70.6% | |
| Change in inventory | 23.0M+9438.6% | 241K | — | — | — | |
| Change in payables | -2.59M-211.3% | 2.33M+302.3% | -1.15M-241.5% | 814K+110.8% | -7.56M-2443.7% | |
| -6.34M+24.9% | -8.44M+25.2% | -11.3M-1823.0% | -587K-448.6% | -107K-143.2% | ||
| Capital expenditure | 4.34M-12.4% | 4.95M+283.6% | 1.29M+117.9% | 592K+453.3% | 107K-85.8% | |
| Free cash flow | -40.0M+59.3% | -98.4M-129.5% | -42.9M-46.9% | -29.2M+14.5% | -34.1M+37.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | — | 8.00K+300.0% | 2.00K-60.0% | 5.00K | — | |
| 59.7M-69.3% | 195M+350.1% | 43.2M-33.4% | 65.0M+146.8% | 26.3M-58.5% | ||
| Long-term debt issued | 75.0M+30.5% | 57.5M+37.6% | 41.7M+111.2% | 19.8M+89.9% | 10.4M | |
| Long-term debt repaid | 21.1M+334.6% | 4.85M-77.6% | 21.7M+106.2% | 10.5M+1.4% | 10.4M+83.3% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 17.7M-80.9% | 92.8M+1066.3% | -9.60M-126.8% | 35.8M+557.5% | -7.82M-182.2% | |
| Interest paid | — | — | 360K-77.9% | 1.63M+284.4% | 423K-48.5% | |
| Income taxes paid | 0.00 | 0.00 | 0.00 | — | — | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.04B+203.0% | 1.00B+28.5% | 781M+90.1% | 411M+60.9% | 255M+99.7% | |
| P/S | 19.2×-73.2% | 71.7×+68.1% | 42.6×+43.1% | 29.8×+50.0% | 19.9×-88.5% | |
| P/B | 67.9×+437.4% | 12.6×-22.3% | 16.3×+276.2% | 4.3×+10.5% | 3.9×+117.6% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
One company, more than one SEC registrant: these statements were filed by Liquidia Technologies, Inc. until Nov 18, 2020 and by Liquidia Corporation since.
About this data
Source: LQDA’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LQDA filings on SEC EDGAR → Not investment advice.