Every 10-Q that Liquidia Corporation (LQDA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LQDA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LQDA filings page.
Liquidia Corporation reported a sharp turnaround for the three and six months ended June 30, 2026, driven by commercialization of YUTREPIA and profit-sharing on treprostinil injection. Total revenue was $171.7 million for the quarter and $304.5 million for the first half of 2026, up from $8.8 million and $12.0 million in the prior-year periods. Net income was $74.7 million for the quarter and $127.6 million year-to-date, compared with net losses of $41.6 million and $79.9 million a year earlier.
Cash and cash equivalents were $284.2 million and total assets $521.9 million as of June 30, 2026, against total liabilities of $326.8 million, including $176.1 million of long-term debt under a revenue interest financing agreement that carries fixed payments and a minimum cash covenant of $15.0 million. Inventory and property, plant and equipment increased as the company scaled manufacturing. Management notes an accumulated deficit of $498.7 million but believes existing cash will cover obligations and covenants for at least the next twelve months while continuing YUTREPIA commercialization and L606 development, subject to execution and legal and regulatory risks.
Liquidia Corporation reported a sharp turnaround for the quarter ended March 31, 2026, driven by commercialization of YUTREPIA. Total revenue rose to $132.9M from $3.1M a year earlier, including $129.9M of net product sales and $3.0M of service revenue from the Sandoz promotion agreement.
Income from operations reached $61.5M versus a prior-period operating loss, and net income was $52.9M, or $0.60 basic and $0.52 diluted per share. Cash and cash equivalents were $222.8M, with total assets of $401.5M and long-term debt of $177.9M under the HCR revenue interest financing, which requires maintaining at least $15.0M in cash.
Management highlights ongoing investment in R&D, including L606 development, and notes significant gross-to-net deductions tied to market access programs. The company remains exposed to litigation risk, particularly patent cases brought by United Therapeutics that could affect YUTREPIA’s commercialization, though no outcomes are yet determined.
Liquidia Corporation reported its Q3 2025 results, driven by the first full quarter of YUTREPIA commercialization. Total revenue reached $54.3 million, up from $4.4 million a year ago, including $51.7 million in product sales from YUTREPIA and $2.7 million in service revenue from the Sandoz promotion agreement.
The company generated $1.8 million of operating income as higher sales offset elevated selling, general and administrative costs of $40.1 million. Net loss narrowed to $3.5 million (basic and diluted EPS $(0.04)), primarily due to $6.9 million in interest expense that outweighed $1.6 million in interest income.
As of September 30, 2025, cash and cash equivalents were $157.5 million, with long‑term debt (including current portion) of $192.5 million. Shares outstanding were 86,819,212. YUTREPIA was FDA‑approved on May 23, 2025 for PAH and PH‑ILD and launched June 2, 2025, underpinning the quarter’s product revenue. Management noted minimum cash covenants of $15.0 million under its revenue interest financing agreement and stated it has sufficient liquidity for at least the next twelve months.
Liquidia Corporation reported initial commercial sales following FDA approval of YUTREPIA and posted early-stage revenue while remaining loss-making. YUTREPIA was approved by the FDA on May 23, 2025 and commercially launched on June 2, 2025; product sales for the three months ended June 30, 2025 were $6.5 million and service revenue (from the Sandoz promotion agreement) was $2.3 million, producing total revenue of $8.8 million for the quarter and $12.0 million for the six months.
The company reported a net loss of $41.6 million for the quarter and $79.9 million for the six months, driving an accumulated deficit of $637.3 million. Cash and cash equivalents were $173.4 million and total assets were $257.4 million. Total liabilities rose to $242.2 million driven by long-term debt (carrying value $193.6 million) and litigation finance obligations. Stockholders' equity declined to $15.2 million. The company disclosed ongoing patent and related litigation with United Therapeutics that could affect YUTREPIA, an indemnification asset of $8.3 million and a litigation finance payable of $8.0 million. Management states available cash and anticipated YUTREPIA inflows are expected to satisfy obligations for at least the next twelve months, and the HCR revenue interest financing contains a $15.0 million minimum cash covenant.