Liquidia Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	157.5	176.48	83.68	93.28	57.49	65.32
Cash & Short-Term Investments	157.5	176.48	83.68	93.28	57.49	65.32
Cash Growth	-22.93%	110.90%	-10.30%	62.25%	-11.98%	17.06%
Accounts Receivable	35.96	2.72	4.06	5.02	2.99	-
Receivables	35.96	2.72	4.06	5.02	2.99	-
Inventory	24.53	0.24	-	-	-	-
Prepaid Expenses	8.73	5.67	2.16	1.51	0.79	0.75
Total Current Assets	226.72	185.11	89.9	99.81	61.28	66.07
Property, Plant & Equipment	14.72	12.49	6.18	6.25	7.43	9.45
Goodwill	3.9	3.9	3.9	3.9	3.9	3.9
Other Intangible Assets	2.99	3.16	3.43	3.73	4.39	5.53
Long-Term Deferred Charges	6.9	7.29	7.92	8.6	10.14	12.79
Other Long-Term Assets	20.75	18.38	6.99	6.9	6.59	1.78
Total Assets	275.98	230.31	118.33	129.2	93.73	99.53
Accounts Payable	6.02	4.69	1.4	2.2	1.07	3.73
Accrued Expenses	40.44	18.66	13.4	5.52	5.17	4.65
Short-Term Debt	-	18.02	2.62	-	-	-
Current Portion of Long-Term Debt	56.05	-	-	-	-	-
Current Portion of Leases	0.43	0.42	1.14	1.08	1.09	1.59
Other Current Liabilities	-	-	-	-	-	1.77
Total Current Liabilities	102.94	41.78	18.55	8.8	7.33	11.74
Long-Term Debt	136.45	97.37	43.42	19.88	10.41	10.29
Long-Term Leases	6.26	6.59	2.36	3.5	4.58	5.26
Other Long-Term Liabilities	8.28	7.3	6.71	6.59	6.14	1.15
Total Liabilities	253.93	153.04	71.04	38.78	28.46	28.45
Common Stock	0.09	0.09	0.07	0.06	0.05	0.04
Additional Paid-In Capital	662.83	636.68	476.32	440.95	374.79	346.04
Retained Earnings	-640.87	-559.49	-429.1	-350.6	-309.58	-275
Total Common Equity	22.05	77.28	47.29	90.42	65.27	71.09
Shareholders' Equity	22.05	77.28	47.29	90.42	65.27	71.09
Total Liabilities & Equity	275.98	230.31	118.33	129.2	93.73	99.53
Total Debt	199.18	122.39	49.54	24.46	16.08	17.14
Net Cash (Debt)	-41.69	54.09	34.14	68.82	41.41	48.17
Net Cash Growth	-	58.42%	-50.39%	66.18%	-14.03%	53.52%
Net Cash Per Share	-0.49	0.69	0.53	1.13	0.83	1.42
Filing Date Shares Outstanding	87	85.3	76.03	64.69	52.44	43.34
Total Common Shares Outstanding	86.82	84.68	68.63	64.52	52.29	43.34
Working Capital	123.78	143.32	71.35	91.01	53.95	54.33
Book Value Per Share	0.25	0.91	0.69	1.40	1.25	1.64
Tangible Book Value	15.16	70.22	39.96	82.79	56.97	61.65
Tangible Book Value Per Share	0.17	0.83	0.58	1.28	1.09	1.42
Machinery	10.71	8.15	7.58	6.7	7.14	8.19
Construction In Progress	3.79	3	0.8	0.16	-	0.07
Leasehold Improvements	13.03	12.96	11.41	11.41	11.46	11.52

Source: S&P Global Market Intelligence. Standard template. Financial Sources.