What is Liquidia Corporation's R&D?

Liquidia Corporation (LQDA) reported R&D of $12.57M in Q1 2026.

How has Liquidia Corporation's R&D changed year-over-year?

Liquidia Corporation's R&D increased by 80.5% year-over-year, from $6.97M to $12.57M.

What is the long-term trend for Liquidia Corporation's R&D?

Over 4 years (2021 to 2025), Liquidia Corporation's R&D has grown at a 17.6% compound annual growth rate (CAGR), from $20.52M to $39.28M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Liquidia Corporation LQDA R&D

R&D at other companies

United TherapeuticsUTHR

$138.2M-7.2%

Arrowhead ResearchARWR

$173.25M+30.2%

Ionis PharmaceuticalsIONS

$228.9M+1.6%

BridgeBio PharmaBBIO

$126.64M+13.6%

TG TherapeuticsTGTX

$48.4M+4.4%

Mirum Pharmaceuticals, Inc.MIRM

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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$6.32B+164%

Enterprise value$6.1B+184%

P/S21.9×-147×

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:ResearchAndDevelopmentExpense.

The official record: Liquidia Corporation’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Liquidia Corporation's R&D?: Liquidia Corporation (LQDA) reported R&D of $12.57M in Q1 2026.
How has Liquidia Corporation's R&D changed year-over-year?: Liquidia Corporation's R&D increased by 80.5% year-over-year, from $6.97M to $12.57M.
What is the long-term trend for Liquidia Corporation's R&D?: Over 4 years (2021 to 2025), Liquidia Corporation's R&D has grown at a 17.6% compound annual growth rate (CAGR), from $20.52M to $39.28M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.