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Liquidia Corporation LQDA Q3 2025 earnings

Reported November 3, 2025 · Before market open

Revenue$54.3MMiss by $26.4M
EPS-$0.04Beat by $0.41
Revenue estimate$80.7M
EPS estimate-$0.45

Next report

Nov 2, 2026 (in a month)
Revenue estimate$205.9M
EPS estimate$0.90

Financials

Q3 2025

Income statement

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Revenue$54.3M+1,122%
Operating income$1.8M+106%
Net income-$3.5M+88.6%
EPS (diluted)-$0.04+90.0%

Balance sheet

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Cash & equivalents$157.5M-22.9%
Total debt$6.7M+149%
Total equity$22.1M-80.4%
Total assets$276.0M+9.1%

Cash flow

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Operating cash flow-$9.8M+61.0%
CapEx$911.0K-47.9%
Free cash flow-$10.7M+60.2%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$1.96B+156%
Enterprise value$1.81B+221%
P/S28.3×-20.7×

Profitability

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Operating margin-155%-68.1pp
Net margin-176.2%-76.4pp
FCF margin-150.7%-64.4pp

Returns & leverage

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Return on equity-181%+57.4pp
Debt / equity0.3×+0.3×
Current ratio2.2×-4.1×

Segments

By segment

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Single Reportable$54.3M+1,122%

By product

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Service$2.7M-39.9%

FAQ

When did Liquidia Corporation report Q3 2025 earnings?
Liquidia Corporation (LQDA) reported Q3 2025 earnings on November 3, 2025 before market open.
What were Liquidia Corporation's Q3 2025 revenue and EPS?
Liquidia Corporation reported revenue of $54.3M and eps of $-0.04 for Q3 2025.
Did Liquidia Corporation beat estimates in Q3 2025?
Revenue missed the consensus estimate of $80.7M by $26.4M. EPS beat the consensus estimate of $-0.45 by $0.41.
How did Liquidia Corporation's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1121.7% from $4.4M a year earlier and eps grew 89.2% from $-0.37.
Where can I find Liquidia Corporation's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-105199) and the 10-Q periodic report (0001104659-25-105215) directly on SEC EDGAR. The filing index links above go to sec.gov.