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Segments

By segment

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Single Reportable$61.5M+274%

Other financials

Income statement

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Revenue$132.9M+4,158%
Gross profit$1.6M+6.5%
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
Research and development12,5716,966
Selling, general and administrative46,93830,062
Total costs and expenses71,36138,545
Income (loss) from operations61,504(35,425)
Other income (expense):
Interest income1,7721,728
Interest expense(6,494)(4,670)
Total other expense, net(4,722)(2,942)

Item 1. Condensed Financial Statements (unaudited)

FAQ

What is Liquidia Corporation's operating income?
Liquidia Corporation (LQDA) reported operating income of $61.5M in Q1 2026.
How has Liquidia Corporation's operating income changed year-over-year?
Liquidia Corporation's operating income increased by 273.6% year-over-year, from -$35.43M to $61.5M.
What is the long-term trend for Liquidia Corporation's operating income?
Over 3 years (2021 to 2024), Liquidia Corporation's operating income has grown at a 53.1% compound annual growth rate (CAGR), from -$33.8M to -$121.29M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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