FY2025 · ended Dec 31, 2025 · Revenue $158.32M, +1031.2% YoY · Filed Mar 5, 2026
Liquidia Corporation (LQDA) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $158.3 million and a net loss of $68.9 million. Free cash flow was -$40.0 million. As of Jun 30, 2026 it held $284.2 million in cash and investments and $6.8 million in total debt.
Revenue (TTM)
$450.91M
+2233.6% vs year-ago TTM
Net income (TTM)
$138.61M
+192.7% vs year-ago TTM
Operating cash flow (TTM)
$167.71M
+244.5% vs year-ago TTM
Free cash flow (TTM)
$150.69M
+225.1% vs year-ago TTM
EPS (TTM)
$1.48
+182.3% vs year-ago TTM
Dividend per share
None
Shares outstanding
88.11M
+3.3% vs prior year
Net cash
$277.39M
as of Jun 30, 2026
Operating margin
37.4%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- LQDA (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Morrisville, NC
- SEC filer status
- Non-accelerated filer
- SEC CIK
- 1819576
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $158.3M | $14.0M | $17.5M | $15.9M | $12.9M |
| Operating income | -$51.4M | -$121.3M | -$73.4M | -$38.8M | -$33.8M |
| Net income | -$68.9M | -$128.3M | -$78.5M | -$41.0M | -$34.6M |
| Diluted EPS | -$0.80 | -$1.63 | -$1.21 | -$0.67 | -$0.70 |
| Operating cash flow | -$35.7M | -$93.4M | -$41.6M | -$28.6M | -$34.0M |
| Free cash flow | -$40.0M | -$98.4M | -$42.9M | -$29.2M | -$34.1M |
| Total assets | $327.9M | $230.3M | $118.3M | $129.2M | $93.7M |
| Total liabilities | $283.2M | $150.9M | $71.0M | $38.8M | $28.5M |
| Stockholders' equity | $44.7M | $79.4M | $47.3M | $90.4M | $65.3M |
| Cash and investments | $190.7M | $176.5M | $83.7M | $93.3M | $57.5M |
| Total debt | — | $7.0M | $3.5M | $24.5M | $16.1M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Material agreement, Agreement ended, Regulation FD disclosure, Other events
|
Oct 14, 2026 | Oct 8, 2026 |
| 8-K |
Current report
Other events
|
Sep 30, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Other events
|
Sep 3, 2026 | Sep 3, 2026 |
| 10-Q | Quarterly report | Aug 12, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations, Other events
|
Aug 12, 2026 | Aug 12, 2026 |
| 8-K |
Current report
Shareholder vote results
|
Jun 17, 2026 | Jun 16, 2026 |
All 702 Liquidia Corporation SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.