Liquidia Income Statement

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	2016 - 2019
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	2016 - 2019
Revenue	69.22	14	17.49	15.94	12.85	0.74	Upgrade
Revenue Growth (YoY)	343.41%	-19.97%	9.75%	23.98%	1637.76%	-90.84%	Upgrade
Cost of Revenue	7.54	5.88	2.89	2.86	3.02	0.24	Upgrade
Gross Profit	61.68	8.12	14.6	13.08	9.83	0.5	Upgrade
Selling, General & Admin	130.66	82.31	45.44	33.11	23.81	22.57	Upgrade
Research & Development	38.28	47.1	42.54	18.73	19.82	32.22	Upgrade
Operating Expenses	168.95	129.41	87.98	51.85	43.63	54.79	Upgrade
Operating Income	-107.27	-121.29	-73.38	-38.77	-33.8	-54.29	Upgrade
Interest Expense	-20.28	-12.49	-6.27	-2.34	-0.76	-0.86	Upgrade
Interest & Investment Income	7.06	7.65	3.47	1.09	0.03	0.18	Upgrade
EBT Excluding Unusual Items	-120.48	-126.13	-76.19	-40.02	-34.53	-54.96	Upgrade
Merger & Restructuring Charges	-	-	-	-	-	-4.8	Upgrade
Other Unusual Items	-11.48	-4.27	-2.31	-1	-0.05	-	Upgrade
Pretax Income	-131.97	-130.39	-78.5	-41.02	-34.58	-59.76	Upgrade
Net Income	-131.97	-130.39	-78.5	-41.02	-34.58	-59.76	Upgrade
Net Income to Common	-131.97	-130.39	-78.5	-41.02	-34.58	-59.76	Upgrade
Shares Outstanding (Basic)	85	79	65	61	50	34	Upgrade
Shares Outstanding (Diluted)	85	79	65	61	50	34	Upgrade
Shares Change (YoY)	15.54%	21.10%	6.62%	22.71%	46.59%	83.36%	Upgrade
EPS (Basic)	-1.54	-1.66	-1.21	-0.67	-0.70	-1.76	Upgrade
EPS (Diluted)	-1.54	-1.66	-1.21	-0.67	-0.70	-1.76	Upgrade
Free Cash Flow	-104.33	-98.37	-42.85	-29.18	-34.14	-54.9	Upgrade
Free Cash Flow Per Share	-1.22	-1.25	-0.66	-0.48	-0.69	-1.62	Upgrade
Gross Margin	89.11%	57.99%	83.49%	82.06%	76.48%	67.86%	Upgrade
Operating Margin	-154.98%	-866.63%	-419.63%	-243.30%	-262.95%	-7340.06%	Upgrade
Profit Margin	-190.66%	-931.65%	-448.89%	-257.39%	-269.03%	-8080.11%	Upgrade
Free Cash Flow Margin	-150.73%	-702.85%	-245.05%	-183.12%	-265.63%	-7422.19%	Upgrade
EBITDA	-105.64	-119.7	-71.81	-36.62	-30.89	-51.35	Upgrade
EBITDA Margin	-152.63%	-	-	-229.83%	-240.29%	-	Upgrade
D&A For EBITDA	1.63	1.6	1.58	2.15	2.91	2.94	Upgrade
EBIT	-107.27	-121.29	-73.38	-38.77	-33.8	-54.29	Upgrade
EBIT Margin	-154.98%	-	-	-243.30%	-262.95%	-	Upgrade
Revenue as Reported	59.67	-	-	-	-	-	Upgrade

Updated Nov 3, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q