Stocks Health care LQDA
NASDAQ · Health careLiquidia Corp (LQDA)
Liquidia Corp brought in $450.9M of revenue over the twelve months to June 30, 2026, up 2,233.6% from a year earlier. Net income was $138.6M, a net margin of 30.7%. In fiscal 2025 capital spending exceeded operating cash flow by $40M. At June 30, 2026 it held $284.2M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 12, 2026.
Key facts about Liquidia Corp
- Net worth
- Liquidia Corp has a market value (market cap) of $4.3B at the latest share price, and shareholders' equity of $195.1M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $158.3M (+1,031.2% year on year), with a net loss of $68.9M. Over the 12 months to June 30, 2026: revenue $450.9M, net income $138.6M.
- Cash flow
- In fiscal 2025 operations used $35.7M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 12, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Liquidia Corp's next report was expected around November 2, 2026 and is not on file with the SEC yet.
What Liquidia Corp does
Liquidia Corp is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker LQDA.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $158.3M | -$68.9M | -$0.80 | -$40M |
| 2024 | $14M | -$128.3M | -$1.63 | -$98.4M |
| 2023 | $17.5M | -$78.5M | -$1.21 | -$42.9M |
| 2022 | $15.9M | -$41M | -$0.67 | -$29.2M |
| 2021 | $12.9M | -$34.6M | -$0.70 | -$34.1M |
| 2020 | $739.6K | -$59.8M | -$1.76 | -$54.9M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where LQDA ranks in Health care
Latest SEC filings
What Liquidia Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 14, 2026
- September 30, 2026Other event 8-K
- September 3, 2026Other event 8-K
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 1,843% to $171.7M versus the same quarter last year; diluted EPS $0.74 versus -$0.49.
- August 12, 2026
- August 4, 2026Passive stake changed SCHEDULE 13G/A
- July 8, 2026Passive stake changed SCHEDULE 13G/A
- June 17, 2026
- June 8, 2026Other event 8-K
Insider trades
What the people running Liquidia Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $25.8M worth of shares in the last 90 days and bought none on the open market. 47% of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 26, 2026 | Adair JasonChief Business Officer | Soldpre-planned (10b5-1) | 688 | $29.7K |
| October 26, 2026 | Boyle DanaChief Accounting Officer | Soldpre-planned (10b5-1) | 1,581 | $68.3K |
| October 12, 2026 | Adair JasonChief Business Officer | Soldpre-planned (10b5-1) | 7,301 | $207.9K |
| October 12, 2026 | Boyle DanaChief Accounting Officer | Soldpre-planned (10b5-1) | 5,892 | $167.8K |
| October 12, 2026 | Jeffs RogerChief Executive Officer, Director | Soldpre-planned (10b5-1) | 32,744 | $932.5K |
| October 12, 2026 | Kaseta MichaelCFO and COO | Soldpre-planned (10b5-1) | 18,938 | $539.4K |
| October 12, 2026 | Khindri SanjeevChief Development Officer | Soldpre-planned (10b5-1) | 1,101 | $31.4K |
| October 12, 2026 | Krepp SarahChief Human Resource Officer | Soldpre-planned (10b5-1) | 5,245 | $149.4K |
Who owns LQDA
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Dapice Joshua J.13G, passive with 30 related filers | 9.9% | February 9, 2026 |
| David Johnson13D, may seek influence with 1 related filers | 9.8% | September 12, 2024 |
| Farallon Capital Management, L.L.C.13G, passive with 28 related filers | 9.4% | August 4, 2026 |
| Paul B Manning13G, passive with 2 related filers | 6.5% | August 14, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 336 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 10,788,586 | +5,299,442 |
| Farallon Capital Management, L.L.C. | 8,365,038 | -291,000 |
| Caligan Partners LP | 8,118,892 | 0 |
| Findell Capital Management LLC | 3,502,112 | 0 |
| Vanguard Capital Management LLC | 3,139,183 | +212,238 |
| State Street Corp | 3,030,395 | +1,148,796 |
| Opaleye Management Inc. | 2,447,500 | -97,500 |
| Geode Capital Management, LLC | 2,121,290 | +192,321 |
| Bank of America Corp | 1,991,566 | -296,226 |
| Vanguard Portfolio Management LLC | 1,532,151 | +899,526 |
| Caprock Group, LLC | 1,409,759 | +42,524 |
| Mpm Bioimpact LLC | 1,386,174 | -18,984 |
| D. E. Shaw & Co., Inc. | 1,267,706 | +394,641 |
| Fuller & Thaler Asset Management, Inc. | 1,209,604 | new |
| Goldman Sachs Group Inc | 958,892 | +146,902 |
| Federated Hermes, Inc. | 816,187 | +377,420 |
| Northern Trust Corp | 709,063 | +129,188 |
| Charles Schwab Investment Management Inc | 674,033 | +116,833 |
| Morgan Stanley | 658,441 | +313,770 |
| Boothbay Fund Management, LLC | 622,716 | -2,332 |
Insiders
18 insiders reported holding 21,831,522 shares in total, about $1.05B at the last price.
| Holder | Shares |
|---|---|
| Caligan Partners LPDirector, 10% owner | 16,272,60216,272,602 held indirectly |
| Jeffs RogerChief Executive Officer, Director | 2,167,5151,041,667 held indirectly |
| Manning Paul BDirector | 1,273,800798,335 held indirectly |
| Schundler RussellGeneral Counsel | 602,841 |
| Kaseta MichaelCFO and COO | 340,148 |
| Moomaw ScottChief Commercial Officer | 181,487 |
| Adair JasonChief Business Officer | 177,269 |
| Boyle DanaChief Accounting Officer | 164,028 |
| Saggar RajeevChief Medical Officer | 126,368 |
| Krepp SarahChief Human Resource Officer | 115,241 |
Questions about LQDA
What does Liquidia Corp do?
Liquidia Corp is a company in the Health care sector, listed on NASDAQ as LQDA. Its shares trade on NASDAQ under the ticker LQDA.
What is Liquidia Corp's net worth?
Liquidia Corp has a market value (market cap) of $4.3B at the latest share price, and shareholders' equity of $195.1M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Liquidia Corp profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $138.6M on revenue of $450.9M, a net margin of 30.7%.
How much revenue does Liquidia Corp make?
Over the twelve months to June 30, 2026 Liquidia Corp reported revenue of $450.9M. That is 2,233.6% more than a year earlier.
When did Liquidia Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 12, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from October 28, 2026.
When is Liquidia Corp's next earnings report?
Liquidia Corp's next report was expected around November 2, 2026 and is not on file with the SEC yet.
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Where the numbers come from
Financial figures are the values Liquidia Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.