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Companies / Health Care / Liquidia Corp
LQDA

Liquidia Corp

Health CarePharmaceutical Preparations
Ticker LQDAMORRISVILLE, NCFiscal year ends DecemberBook value per share $1.93Diluted shares 101.3M

Liquidia Corporation (Nasdaq: LQDA) is a biopharmaceutical company developing and commercializing treatments for respiratory and vascular diseases, primarily pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). Its commercial products are YUTREPIA, an… From the company’s description.

Over the twelve months to Jun 30, 2026, Liquidia Corp reported revenue of $450.91M, up 2233.6% from a year earlier, and net income of $138.61M. Its operating margin was 37.4%, and operations generated $167.71M in cash. In fiscal 2025, it reported revenue of $158.32M, up 1031.2% from fiscal 2024, and a net loss of $68.92M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$158.32MFY2025
+1031.2% year over year
Last 12 mo $450.91M
-32.45%FY2025
+834.2 percentage points
Last 12 mo 37.39%
$-68.92MFY2025
+47.1% year over year
Last 12 mo $138.61M
-154.03%FY2025
+14.7 percentage points
Last 12 mo 71.04%
Cash & financing
$-35.69MFY2025
+61.8% year over year
Last 12 mo $167.71M
$-40.02MFY2025
+59.3% year over year
Last 12 mo $150.69M
4.60FY2025
Was 1.44× a year earlier
Last 12 mo 0.95
86.1MFY2025
+9.3% year over year
Last 12 mo 101.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Liquidia Corp does

In the company’s own words

Liquidia Corporation (Nasdaq: LQDA) is a biopharmaceutical company developing and commercializing treatments for respiratory and vascular diseases, primarily pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). Its commercial products are YUTREPIA, an inhaled dry-powder treprostinil approved for PAH and PH-ILD, and generic treprostinil injection, which it promotes in the United States with Sandoz and for which it shares profits. Liquidia also develops L606, an investigational sustained-release inhaled treprostinil formulation, and uses its PRINT particle-engineering technology to produce uniform drug particles. The company operates through its wholly owned subsidiaries Liquidia Technologies and Liquidia PAH, and has a targeted U.S. commercial field force serving healthcare providers and stakeholders involved in treatment, distribution and reimbursement. YUTREPIA began commercialization in June 2025; the company’s 45,000-square-foot facility in Morrisville, North Carolina, supports particle design, formulation and manufacturing. Its website is www.liquidia.com.

Company details
Sector
Health Care
Industry (SIC)
Pharmaceutical Preparations
Headquarters
MORRISVILLE, NC
Fiscal year end
December
CIK
1819576
SIC
2834

Financial performance, year by year

Fiscal 2020–2025 · USD
$-188.52M$-14.13M$160.26M$334.65M$509.04M202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Liquidia Corp — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

230
funds hold it
0 of 35
superinvestors hold it
$1.62B
held by funds, at market
24.8%
of shares held by funds

Largest fund holders · Liquidia Corp’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.30%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.17%of fund net assets
FULLERTHALER BEHAVIORAL SMALL-CAP GROWTH
FTXNX · Capitol Series Trust
1.05%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.07%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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