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Liquidia Corporation LQDA Business Segments — Operating Income

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Other financials

Income statement

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Revenue$132.9M+4,158%
Gross profit$1.6M+6.5%
Operating income$61.5M+274%
Net income$52.9M+238%
EPS (diluted)$0.52+216%

Balance sheet

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Cash & equivalents$222.8M+31.2%
Total debt$7.0M+1.5%
Total equity$108.6M+118%
Total assets$401.5M+76.6%

Cash flow

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Operating cash flow$53.0M+273%
CapEx$2.8M+758%
Free cash flow$50.2M+262%

Valuation

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Market cap$7.93B+356%
Enterprise value$7.71B+391%
P/S27.5×-62.3×

Profitability

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Gross margin58.1%-18.7pp
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 / equity0.1×-0.1×
Current ratio2.2×-0.7×

Where this comes from

Reported directly by Liquidia Corporation in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Liquidia Corporation’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 7:00 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001104659-26-058252
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Total program expenses21,66113,177
Non-program expenses (2)6,1973,770
Personnel, including stock-based compensation31,65120,081
Income (loss) from operations61,504(35,425)
Other income (expense), net(4,722)(2,942)
Income (loss) before income taxes$56,782$(38,367)
Income tax expense3,920
Net income (loss)$52,862$(38,367)

Item 1. Condensed Financial Statements (unaudited)

FAQ

What is Liquidia Corporation's business segments — operating income?
Liquidia Corporation (LQDA) reported business segments — operating income of $61.5M in Q1 2026.
How has Liquidia Corporation's business segments — operating income changed year-over-year?
Liquidia Corporation's business segments — operating income increased by 273.6% year-over-year, from -$35.43M to $61.5M.
What does business segments — operating income mean?
This metric measures the profitability of the business segment by subtracting operating expenses from total revenue. It indicates the core operational health of the business before accounting for financing activities or tax obligations. A trend toward positive operating income is a primary indicator of a company's transition from a development-stage entity to a sustainable commercial business.

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