Liquidia (LQDA) Financials

$15.60 +0.25 (+1.63%)

Closing price 04:00 PM Eastern

Extended Trading

$15.58 -0.03 (-0.16%)

As of 07:18 PM Eastern

Annual Income Statements for Liquidia

This table shows Liquidia's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Net Income / (Loss) Attributable to Common Shareholders	-130	-79	-41	-35	-60	-48
Consolidated Net Income / (Loss)	-130	-79	-41	-35	-60	-48
Net Income / (Loss) Continuing Operations	-130	-79	-41	-35	-60	-48
Total Pre-Tax Income	-130	-79	-41	-35	-60	-48
Total Operating Income	-121	-73	-39	-34	-59	-47
Total Gross Profit	8.12	15	13	9.83	0.50	7.26
Total Revenue	14	17	16	13	0.74	8.07
Operating Revenue	14	17	16	13	0.74	8.07
Total Cost of Revenue	5.88	2.89	2.86	3.02	0.24	0.81
Operating Cost of Revenue	5.88	2.89	2.86	3.02	0.24	0.81
Total Operating Expenses	129	88	52	44	60	54
Selling, General & Admin Expense	82	45	32	23	27	14
Research & Development Expense	48	43	19	21	32	40
Total Other Income / (Expense), net	-9.10	-5.12	-2.25	-0.78	-0.67	-0.76
Interest Expense	17	8.58	3.34	0.82	0.86	1.37
Interest & Investment Income	7.65	3.47	1.09	0.03	0.18	0.61
Basic Earnings per Share	($1.66)	($1.21)	($0.67)	($0.70)	($1.76)	($2.57)
Weighted Average Basic Shares Outstanding	78.71M	64.99M	60.96M	49.68M	33.89M	18.48M
Diluted Earnings per Share	($1.66)	($1.21)	($0.67)	($0.70)	($1.76)	($2.57)
Weighted Average Diluted Shares Outstanding	78.71M	64.99M	60.96M	49.68M	33.89M	18.48M
Weighted Average Basic & Diluted Shares Outstanding	85.30M	76.03M	64.69M	52.44M	33.89M	18.48M

This table shows Liquidia's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-38	-38	-23	-28	-41	-27	-16	-24	-12	-6.53	-9.09
Consolidated Net Income / (Loss)	-38	-38	-23	-28	-41	-27	-16	-24	-12	-6.53	-9.09
Net Income / (Loss) Continuing Operations	-38	-38	-23	-28	-41	-27	-16	-24	-12	-6.53	-9.09
Total Pre-Tax Income	-38	-38	-23	-28	-41	-27	-16	-24	-12	-6.53	-9.09
Total Operating Income	-35	-36	-29	-27	-29	-26	-15	-23	-9.23	-6.50	-8.83
Total Gross Profit	1.60	1.56	2.88	2.17	1.51	3.54	3.11	4.12	3.84	4.67	2.43
Total Revenue	3.12	2.92	4.45	3.66	2.97	4.53	3.68	4.79	4.49	5.36	3.17
Operating Revenue	3.12	2.92	4.45	3.66	2.97	4.53	3.68	4.79	4.49	5.36	3.17
Total Cost of Revenue	1.52	1.35	1.57	1.49	1.47	0.99	0.57	0.67	0.65	0.69	0.74
Operating Cost of Revenue	1.52	1.35	1.57	1.49	1.47	0.99	0.57	0.67	0.65	0.69	0.74
Total Operating Expenses	37	38	32	29	30	30	18	27	13	11	11
Selling, General & Admin Expense	30	21	20	20	20	17	11	9.25	7.79	6.19	6.74
Research & Development Expense	6.97	16	12	9.42	10	13	7.44	18	5.28	4.98	4.51
Total Other Income / (Expense), net	-2.94	-2.26	6.03	-0.75	-12	-1.01	-0.90	-0.69	-2.51	-0.04	-0.26
Interest Expense	4.67	4.37	-4.22	2.60	14	1.96	1.76	1.43	3.44	0.70	0.62
Interest & Investment Income	1.73	2.10	1.82	1.86	1.88	0.95	0.86	0.73	0.92	0.66	0.36
Basic Earnings per Share	($0.45)	($0.45)	($0.30)	($0.37)	($0.54)	($0.43)	($0.24)	($0.36)	($0.18)	($0.08)	($0.14)
Weighted Average Basic Shares Outstanding	85.17M	78.71M	78.32M	76.44M	75.39M	64.99M	64.86M	64.79M	64.66M	60.96M	64.46M
Diluted Earnings per Share	($0.45)	($0.45)	($0.30)	($0.37)	($0.54)	($0.43)	($0.24)	($0.36)	($0.18)	($0.08)	($0.14)
Weighted Average Diluted Shares Outstanding	85.17M	78.71M	78.32M	76.44M	75.39M	64.99M	64.86M	64.79M	64.66M	60.96M	64.46M
Weighted Average Basic & Diluted Shares Outstanding	85.48M	85.30M	84.64M	76.79M	76.38M	76.03M	64.91M	64.74M	64.72M	64.69M	64.49M

This table details how cash moves in and out of Liquidia's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Net Change in Cash & Equivalents	93	-9.60	36	-7.82	9.52	16
Net Cash From Operating Activities	-93	-42	-29	-34	-54	-48
Net Cash From Continuing Operating Activities	-93	-42	-29	-34	-54	-48
Net Income / (Loss) Continuing Operations	-130	-79	-41	-35	-60	-48
Consolidated Net Income / (Loss)	-130	-79	-41	-35	-60	-48
Depreciation Expense	2.20	2.18	3.65	5.61	3.13	2.57
Non-Cash Adjustments To Reconcile Net Income	40	29	11	7.31	4.20	3.61
Changes in Operating Assets and Liabilities, net	-4.79	5.87	-2.16	-12	-1.71	-6.95
Net Cash From Investing Activities	-8.44	-11	-0.59	-0.11	0.25	-1.85
Net Cash From Continuing Investing Activities	-8.44	-11	-0.59	-0.11	0.25	-1.85
Purchase of Property, Plant & Equipment	-4.95	-1.29	-0.59	-0.11	-0.75	-1.85
Acquisitions	-3.50	-10	0.00	-	-	-
Sale of Property, Plant & Equipment	0.01	0.00	0.01	0.00	-	-
Net Cash From Financing Activities	195	43	65	26	63	66
Net Cash From Continuing Financing Activities	195	43	65	26	63	66
Repayment of Debt	-4.85	-24	-11	-10	-5.65	-1.00
Issuance of Common Equity	142	25	56	22	71	63
Other Financing Activities, net	58	42	0.14	4.51	-0.61	-0.03
Cash Interest Paid	0.00	0.36	1.63	0.42	0.82	0.89

This table details how cash moves in and out of Liquidia's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-6.72	-28	71	-25	74	7.45	-12	-6.22	1.13	-5.04	-5.52
Net Cash From Operating Activities	-31	-21	-25	-23	-25	-16	-12	-5.56	-8.46	-4.60	-5.77
Net Cash From Continuing Operating Activities	-31	-21	-25	-23	-25	-16	-12	-5.56	-8.46	-4.60	-5.77
Net Income / (Loss) Continuing Operations	-38	-38	-23	-28	-41	-27	-16	-24	-12	-6.53	-9.09
Consolidated Net Income / (Loss)	-38	-38	-23	-28	-41	-27	-16	-24	-12	-6.53	-9.09
Depreciation Expense	0.45	0.52	0.61	0.58	0.49	0.51	0.51	0.59	0.57	0.57	1.13
Non-Cash Adjustments To Reconcile Net Income	12	13	0.79	7.09	19	4.62	4.35	14	5.91	2.01	1.84
Changes in Operating Assets and Liabilities, net	-4.93	3.99	-3.33	-2.39	-3.07	6.34	-0.63	3.35	-3.19	-0.65	0.35
Net Cash From Investing Activities	-0.33	-4.78	-1.75	-1.29	-0.62	-0.21	-10	-0.24	-0.36	-0.49	-0.09
Net Cash From Continuing Investing Activities	-0.33	-4.78	-1.75	-1.29	-0.62	-0.21	-10	-0.24	-0.36	-0.49	-0.09
Purchase of Property, Plant & Equipment	-0.33	-1.29	-1.75	-1.29	-0.62	-0.21	-0.48	-0.24	-0.37	-0.49	-0.09
Net Cash From Financing Activities	24	-2.30	98	-0.81	100	24	10	-0.41	9.95	0.06	0.35
Net Cash From Continuing Financing Activities	24	-2.30	98	-0.81	100	24	10	-0.41	9.95	0.06	0.35
Repayment of Debt	-2.12	-4.85	-	-	0.00	-1.65	-	-	-22	-	-
Issuance of Debt	25	-	-	-	-	-	-	-	-	-	-
Issuance of Common Equity	1.26	-0.25	66	0.03	75	24	0.65	0.03	0.41	0.10	0.37
Other Financing Activities, net	0.17	2.81	32	-0.85	24	0.98	9.41	-0.44	32	-0.05	-0.02

This table presents Liquidia's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Total Assets	230	118	129	94	100	69
Total Current Assets	185	90	100	61	66	56
Cash & Equivalents	176	84	93	57	65	56
Accounts Receivable	2.72	4.06	5.02	2.99	0.00	-
Inventories, net	0.24	0.00	-	-	-	-
Prepaid Expenses	5.67	2.16	1.51	0.79	0.75	0.59
Plant, Property, & Equipment, net	8.30	4.48	4.15	5.02	6.81	9.25
Total Noncurrent Assets	37	24	25	27	27	3.20
Goodwill	3.90	3.90	3.90	3.90	3.90	0.00
Intangible Assets	3.16	3.43	3.73	4.39	5.53	0.00
Other Noncurrent Operating Assets	30	17	18	19	17	3.20
Total Liabilities & Shareholders' Equity	230	118	129	94	100	69
Total Liabilities	153	71	39	28	28	34
Total Current Liabilities	42	19	8.80	7.33	12	17
Accounts Payable	4.69	1.40	2.20	1.07	3.73	3.50
Accrued Expenses	19	13	5.52	5.17	1.39	2.82
Other Current Liabilities	18	3.75	1.08	1.09	1.59	1.81
Total Noncurrent Liabilities	111	52	30	21	17	17
Asset Retirement Reserve & Litigation Obligation	7.30	6.71	6.59	6.14	1.15	0.00
Other Noncurrent Operating Liabilities	104	46	3.50	4.58	5.26	6.73
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	77	47	90	65	71	35
Total Preferred & Common Equity	77	47	90	65	71	35
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	77	47	90	65	71	35
Common Stock	637	476	441	375	346	250
Retained Earnings	-559	-429	-351	-310	-275	-215

This table presents Liquidia's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	227	253	177	197	112	122	129	133
Total Current Assets	177	214	147	168	83	93	100	103
Cash & Equivalents	170	204	133	158	76	88	94	98
Accounts Receivable	1.25	4.20	3.25	2.57	3.34	4.10	4.13	3.14
Inventories, net	1.35	0.04	7.21	3.52	-	-	-	-
Prepaid Expenses	4.85	5.60	3.71	3.99	3.42	0.60	1.15	1.60
Plant, Property, & Equipment, net	8.48	7.78	6.39	5.58	4.40	4.17	4.35	3.94
Total Noncurrent Assets	42	31	24	24	24	25	25	26
Goodwill	3.90	3.90	3.90	3.90	3.90	3.90	3.90	3.90
Intangible Assets	3.11	3.22	3.30	3.38	3.49	3.55	3.64	3.81
Other Noncurrent Operating Assets	35	24	17	16	17	17	17	18
Total Liabilities & Shareholders' Equity	227	253	177	197	112	122	129	133
Total Liabilities	178	142	115	111	64	61	47	38
Total Current Liabilities	61	34	24	22	12	19	6.82	7.46
Short-Term Debt	38	-	-	-	-	-	-	-
Accounts Payable	8.68	2.30	5.74	2.49	1.81	1.92	0.84	1.14
Accrued Expenses	14	17	13	14	6.62	15	2.95	5.22
Other Current Liabilities	0.38	15	5.38	5.37	3.72	2.81	3.03	1.10
Total Noncurrent Liabilities	117	109	90	89	51	41	40	30
Long-Term Debt	103	-	-	-	0.00	0.00	0.00	20
Asset Retirement Reserve & Litigation Obligation	7.54	7.20	6.93	6.71	6.70	6.70	6.61	6.56
Other Noncurrent Operating Liabilities	6.48	101	83	82	45	35	34	3.77
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	50	111	63	86	48	61	82	95
Total Preferred & Common Equity	50	111	63	86	48	61	82	95
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	50	111	63	86	48	61	82	95
Common Stock	645	632	561	556	450	447	444	439
Retained Earnings	-596	-521	-498	-470	-402	-386	-362	-344

This table displays calculated financial ratios and metrics derived from Liquidia's official financial filings.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Growth Metrics	-	-	-	-	-	-
Revenue Growth	-19.97%	9.75%	23.98%	1,637.77%	-90.84%	0.00%
EBITDA Growth	-67.26%	-102.73%	-24.62%	49.63%	-26.66%	0.00%
EBIT Growth	-65.29%	-89.28%	-14.71%	42.80%	-26.20%	0.00%
NOPAT Growth	-65.29%	-89.28%	-14.71%	42.80%	-26.20%	0.00%
Net Income Growth	-66.10%	-91.40%	-18.61%	42.14%	-25.60%	0.00%
EPS Growth	-37.19%	-80.60%	4.29%	60.23%	31.52%	0.00%
Operating Cash Flow Growth	-124.77%	-45.39%	16.00%	37.14%	-12.14%	0.00%
Free Cash Flow Firm Growth	-1,185.29%	107.83%	-0.77%	58.69%	0.00%	0.00%
Invested Capital Growth	-172.64%	-313.81%	-6.40%	13.19%	423.13%	0.00%
Revenue Q/Q Growth	-10.34%	-4.53%	15.56%	23.84%	0.00%	0.00%
EBITDA Q/Q Growth	-8.83%	-39.06%	11.49%	13.69%	0.00%	0.00%
EBIT Q/Q Growth	-8.66%	-37.31%	11.15%	11.87%	0.00%	0.00%
NOPAT Q/Q Growth	-8.66%	-37.31%	11.15%	11.87%	0.00%	0.00%
Net Income Q/Q Growth	-9.14%	-36.32%	10.92%	11.57%	0.00%	0.00%
EPS Q/Q Growth	-1.22%	-40.70%	17.28%	15.66%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-5.45%	-37.70%	9.37%	16.10%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-76.63%	-71.98%	6.42%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-5.70%	-28.94%	3.42%	-5.51%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	58.00%	83.49%	82.06%	76.48%	67.86%	90.00%
EBITDA Margin	-850.94%	-407.17%	-220.41%	-219.29%	-7,565.90%	-547.32%
Operating Margin	-866.63%	-419.62%	-243.30%	-262.95%	-7,989.03%	-580.07%
EBIT Margin	-866.63%	-419.62%	-243.30%	-262.95%	-7,989.03%	-580.07%
Profit (Net Income) Margin	-931.65%	-448.89%	-257.39%	-269.03%	-8,080.11%	-589.48%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	107.50%	106.97%	105.79%	102.31%	101.14%	101.62%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-154.20%	-138.18%	-745.86%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-131.17%	-116.79%	-707.10%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	101.51%	87.46%	633.14%	0.00%
Return on Equity (ROE)	-209.35%	-114.01%	-52.69%	-50.72%	-112.72%	-136.16%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-147.60%	-150.55%	-388.47%	0.00%
Operating Return on Assets (OROA)	-69.58%	-59.29%	-34.78%	-34.98%	-70.19%	-68.02%
Return on Assets (ROA)	-74.80%	-63.43%	-36.80%	-35.78%	-70.99%	-69.12%
Return on Common Equity (ROCE)	-209.35%	-114.01%	-52.69%	-50.72%	-112.72%	-136.16%
Return on Equity Simple (ROE_SIMPLE)	-168.74%	-165.99%	-45.36%	-52.98%	-84.07%	-136.16%
Net Operating Profit after Tax (NOPAT)	-85	-51	-27	-24	-41	-33
NOPAT Margin	-606.64%	-293.74%	-170.31%	-184.07%	-5,592.32%	-406.05%
Net Nonoperating Expense Percent (NNEP)	-34.97%	-34.55%	-23.03%	-21.39%	-38.76%	-37.09%
Return On Investment Capital (ROIC_SIMPLE)	-109.87%	-108.62%	-	-	-	-
Cost of Revenue to Revenue	42.00%	16.51%	17.94%	23.52%	32.14%	10.00%
SG&A Expenses to Revenue	582.80%	255.84%	203.40%	179.80%	3,700.33%	168.45%
R&D to Revenue	341.83%	247.27%	121.96%	159.63%	4,356.57%	501.62%
Operating Expenses to Revenue	924.63%	503.11%	325.36%	339.43%	8,056.89%	670.07%
Earnings before Interest and Taxes (EBIT)	-121	-73	-39	-34	-59	-47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-119	-71	-35	-28	-56	-44
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	11.98	16.53	4.29	3.71	1.41	2.26
Price to Tangible Book Value (P/TBV)	13.18	19.57	4.69	4.25	1.62	2.26
Price to Revenue (P/Rev)	66.13	44.71	24.37	18.82	135.16	9.79
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	18.50	10.72	2.80	0.00
Enterprise Value to Revenue (EV/Rev)	53.52	39.92	19.76	15.16	60.77	4.84
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	343.06	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.22	0.16	0.14	0.45
Long-Term Debt to Equity	0.00	0.00	0.22	0.16	0.14	0.29
Financial Leverage	-2.09	-1.14	-0.77	-0.75	-0.90	-1.14
Leverage Ratio	2.80	1.80	1.43	1.42	1.59	1.97
Compound Leverage Factor	3.01	1.92	1.51	1.45	1.61	2.00
Debt to Total Capital	0.00%	0.00%	18.02%	13.76%	12.65%	31.24%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	10.99%
Long-Term Debt to Total Capital	0.00%	0.00%	18.02%	13.76%	12.65%	20.25%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	81.98%	86.24%	87.35%	68.76%
Debt to EBITDA	0.00	0.00	-0.57	-0.37	-0.18	-0.36
Net Debt to EBITDA	0.00	0.00	2.09	1.67	0.98	0.90
Long-Term Debt to EBITDA	0.00	0.00	-0.57	-0.37	-0.18	-0.23
Debt to NOPAT	0.00	0.00	-0.73	-0.44	-0.25	-0.48
Net Debt to NOPAT	0.00	0.00	2.70	1.99	1.33	1.22
Long-Term Debt to NOPAT	0.00	0.00	-0.73	-0.44	-0.25	-0.31
Altman Z-Score	-0.70	0.35	2.19	0.11	-3.06	-4.42
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	4.43	4.85	11.34	8.36	5.63	3.34
Quick Ratio	4.29	4.73	11.17	8.25	5.56	3.31
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-22	2.04	-26	-26	-62	0.00
Operating Cash Flow to CapEx	-1,890.75%	-3,227.02%	-4,870.19%	-31,808.41%	-7,199.24%	-2,609.73%
Free Cash Flow to Firm to Interest Expense	-1.32	0.24	-7.79	-31.63	-72.72	0.00
Operating Cash Flow to Interest Expense	-5.58	-4.84	-8.57	-41.76	-63.11	-35.15
Operating Cash Flow Less CapEx to Interest Expense	-5.87	-4.99	-8.75	-41.89	-63.98	-36.50
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.08	0.14	0.14	0.13	0.01	0.12
Accounts Receivable Turnover	4.13	3.85	3.98	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.19	4.05	3.48	2.17	0.09	0.87
Accounts Payable Turnover	1.93	1.61	1.75	1.26	0.07	0.23
Days Sales Outstanding (DSO)	88.41	94.74	91.70	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	188.89	227.05	208.54	290.03	5,552.47	1,581.76
Cash Conversion Cycle (CCC)	-100.49	-132.32	-116.84	-290.03	-5,552.47	-1,581.76
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	-99	-36	17	18	16	-4.97
Invested Capital Turnover	-0.21	-1.81	0.91	0.75	0.13	-1.62
Increase / (Decrease) in Invested Capital	-63	-53	-1.16	2.12	21	0.00
Enterprise Value (EV)	749	698	315	195	45	39
Market Capitalization	926	782	388	242	100	79
Book Value per Share	$0.91	$0.73	$1.40	$1.26	$2.10	$1.89
Tangible Book Value per Share	$0.83	$0.62	$1.28	$1.10	$1.82	$1.89
Total Capital	77	47	110	76	81	51
Total Debt	0.00	0.00	20	10	10	16
Total Long-Term Debt	0.00	0.00	20	10	10	10
Net Debt	-176	-84	-73	-47	-55	-40
Capital Expenditures (CapEx)	4.94	1.29	0.59	0.11	0.75	1.85
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-33	-12	-2.27	-3.55	-11	-11
Debt-free Net Working Capital (DFNWC)	143	71	91	54	54	45
Net Working Capital (NWC)	143	71	91	54	54	40
Net Nonoperating Expense (NNE)	45	27	14	11	18	15
Net Nonoperating Obligations (NNO)	-176	-84	-73	-47	-55	-40
Total Depreciation and Amortization (D&A)	2.20	2.18	3.65	5.61	3.13	2.64
Debt-free, Cash-free Net Working Capital to Revenue	-236.89%	-70.51%	-14.26%	-27.58%	-1,485.20%	-132.54%
Debt-free Net Working Capital to Revenue	1,024.04%	407.99%	571.14%	419.74%	7,345.79%	558.69%
Net Working Capital to Revenue	1,024.04%	407.99%	571.14%	419.74%	7,345.79%	489.49%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.66)	($1.21)	($0.67)	($0.70)	($1.76)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	78.71M	64.99M	60.96M	49.68M	43.34M	0.00
Adjusted Diluted Earnings per Share	($1.66)	($1.21)	($0.67)	($0.70)	($1.76)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	78.71M	64.99M	60.96M	49.68M	43.34M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($1.76)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	85.30M	76.03M	64.69M	52.44M	33.89M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-85	-51	-27	-24	-41	-33
Normalized NOPAT Margin	-606.64%	-293.74%	-170.31%	-184.07%	-5,592.32%	-406.05%
Pre Tax Income Margin	-931.65%	-448.89%	-257.39%	-269.03%	-8,080.11%	-589.48%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-7.24	-8.55	-11.63	-41.47	-68.87	-34.09
NOPAT to Interest Expense	-5.07	-5.98	-8.14	-29.03	-48.21	-23.86
EBIT Less CapEx to Interest Expense	-7.53	-8.70	-11.80	-41.60	-69.75	-35.43
NOPAT Less CapEx to Interest Expense	-5.36	-6.13	-8.31	-29.16	-49.08	-25.21
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-2.73%	-1.58%

This table displays calculated financial ratios and metrics derived from Liquidia's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.98%	-35.62%	20.94%	-23.55%	-33.85%	-15.47%	16.21%	22.15%	28.67%	66.77%	-0.44%
EBITDA Growth	-23.53%	-37.25%	-98.78%	-19.70%	-226.82%	-337.19%	-86.64%	-179.21%	35.95%	43.46%	-39.17%
EBIT Growth	-23.00%	-36.58%	-96.02%	-19.15%	-211.97%	-306.90%	-68.62%	-154.46%	36.21%	42.82%	-24.73%
NOPAT Growth	-23.00%	-36.58%	-96.02%	-19.15%	-211.97%	-306.90%	-68.62%	-154.46%	36.21%	42.82%	-24.73%
Net Income Growth	-27.54%	-39.78%	-46.64%	-18.82%	-248.47%	-320.17%	-73.67%	-148.94%	26.33%	43.50%	-24.87%
EPS Growth	-12.50%	-4.65%	-25.00%	-2.78%	-200.00%	-437.50%	-71.43%	-140.00%	40.00%	63.64%	0.00%
Operating Cash Flow Growth	-23.38%	-30.23%	-116.95%	-307.28%	-194.03%	-247.21%	-100.23%	33.99%	13.55%	39.11%	0.98%
Free Cash Flow Firm Growth	-402.98%	7.58%	31.97%	-19.16%	65.41%	1,131.01%	1,108.89%	1,163.84%	401.53%	66.39%	85.97%
Invested Capital Growth	129.00%	-172.64%	-232.58%	-155.53%	-460.72%	-313.81%	-271.49%	-254.08%	-174.80%	-6.40%	-14.48%
Revenue Q/Q Growth	6.96%	-34.42%	21.56%	23.12%	-34.41%	23.19%	-23.15%	6.52%	-16.18%	69.35%	-19.22%
EBITDA Q/Q Growth	1.73%	-24.53%	-7.37%	5.99%	-9.19%	-80.36%	35.34%	-156.68%	-46.06%	23.00%	3.28%
EBIT Q/Q Growth	1.89%	-23.70%	-7.32%	5.57%	-8.95%	-77.53%	34.76%	-147.24%	-42.10%	26.43%	1.55%
NOPAT Q/Q Growth	1.89%	-23.70%	-7.32%	5.57%	-8.95%	-77.53%	34.76%	-147.24%	-42.10%	26.43%	1.55%
Net Income Q/Q Growth	0.01%	-65.71%	17.13%	31.73%	-49.10%	-73.84%	32.86%	-100.23%	-79.78%	28.15%	3.76%
EPS Q/Q Growth	0.00%	-50.00%	18.92%	31.48%	-25.58%	-79.17%	33.33%	-100.00%	-125.00%	42.86%	6.67%
Operating Cash Flow Q/Q Growth	-47.40%	17.02%	-10.68%	8.87%	-55.59%	-38.24%	-107.78%	34.21%	-83.73%	20.28%	31.50%
Free Cash Flow Firm Q/Q Growth	-412.06%	-16.94%	89.96%	-38.47%	10.80%	1.89%	16.36%	25.91%	790.64%	0.29%	-22.70%
Invested Capital Q/Q Growth	120.93%	-5.70%	-33.36%	1.71%	-96.77%	-28.94%	-2.47%	-115.67%	-175.03%	3.42%	-7.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.38%	53.58%	64.82%	59.20%	50.64%	78.08%	84.50%	85.98%	85.44%	87.05%	76.62%
EBITDA Margin	-1,120.96%	-1,220.05%	-642.51%	-727.44%	-952.62%	-572.28%	-390.89%	-464.61%	-192.81%	-110.65%	-243.38%
Operating Margin	-1,135.42%	-1,237.81%	-656.23%	-743.29%	-969.08%	-583.45%	-404.87%	-476.91%	-205.48%	-121.21%	-279.02%
EBIT Margin	-1,135.42%	-1,237.81%	-656.23%	-743.29%	-969.08%	-583.45%	-404.87%	-476.91%	-205.48%	-121.21%	-279.02%
Profit (Net Income) Margin	-1,229.71%	-1,315.36%	-520.57%	-763.65%	-1,377.12%	-605.83%	-429.31%	-491.37%	-261.41%	-121.88%	-287.27%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	108.30%	106.26%	79.33%	102.74%	142.11%	103.84%	106.04%	103.03%	127.22%	100.55%	102.96%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1,132.47%	-76.82%	-150.89%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1,124.51%	-73.53%	-146.49%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,089.21%	56.91%	115.37%
Return on Equity (ROE)	-203.98%	-209.35%	-150.73%	-181.73%	-128.27%	-114.01%	-80.52%	-62.53%	-43.26%	-19.92%	-35.53%
Cash Return on Invested Capital (CROIC)	-876.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-147.60%	-155.52%
Operating Return on Assets (OROA)	-75.65%	-99.38%	-56.20%	-73.79%	-94.92%	-82.44%	-60.73%	-65.14%	-31.29%	-17.33%	-33.04%
Return on Assets (ROA)	-81.94%	-105.61%	-44.58%	-75.81%	-134.88%	-85.60%	-64.40%	-67.12%	-39.80%	-17.42%	-34.02%
Return on Common Equity (ROCE)	-203.98%	-209.35%	-150.73%	-181.73%	-128.27%	-114.01%	-80.52%	-62.53%	-43.26%	-19.92%	-35.53%
Return on Equity Simple (ROE_SIMPLE)	-278.96%	0.00%	-108.10%	-178.74%	-124.84%	0.00%	-119.95%	-83.89%	-45.10%	0.00%	-48.45%
Net Operating Profit after Tax (NOPAT)	-25	-25	-20	-19	-20	-19	-10	-16	-6.46	-4.55	-6.18
NOPAT Margin	-794.79%	-866.47%	-459.36%	-520.30%	-678.35%	-408.41%	-283.41%	-333.84%	-143.83%	-84.85%	-195.31%
Net Nonoperating Expense Percent (NNEP)	-14.53%	-10.07%	-1.94%	-8.05%	-16.46%	-11.39%	-6.93%	-8.75%	-7.96%	-3.30%	-4.40%
Return On Investment Capital (ROIC_SIMPLE)	-13.02%	-32.71%	-	-	-	-39.13%	-	-	-	-	-
Cost of Revenue to Revenue	48.62%	46.42%	35.18%	40.80%	49.36%	21.92%	15.50%	14.02%	14.56%	12.95%	23.38%
SG&A Expenses to Revenue	963.53%	726.60%	453.73%	545.04%	681.33%	378.39%	287.09%	193.17%	173.45%	115.43%	213.08%
R&D to Revenue	223.27%	564.79%	267.31%	257.45%	338.39%	283.14%	202.28%	369.72%	117.47%	92.84%	142.56%
Operating Expenses to Revenue	1,186.79%	1,291.40%	721.04%	802.49%	1,019.72%	661.53%	489.37%	562.89%	290.92%	208.26%	355.64%
Earnings before Interest and Taxes (EBIT)	-35	-36	-29	-27	-29	-26	-15	-23	-9.23	-6.50	-8.83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-35	-36	-29	-27	-28	-26	-14	-22	-8.66	-5.93	-7.70
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	25.27	11.98	7.09	14.62	12.89	16.53	8.57	8.38	5.47	4.29	3.69
Price to Tangible Book Value (P/TBV)	29.42	13.18	7.57	16.52	14.08	19.57	10.13	9.56	6.03	4.69	4.02
Price to Revenue (P/Rev)	88.82	66.13	50.17	61.81	69.65	44.71	22.45	28.57	26.38	24.37	25.43
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	59.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	18.50	16.53
Enterprise Value to Revenue (EV/Rev)	86.78	53.52	37.08	52.84	59.76	39.92	18.29	23.61	20.81	19.76	19.73
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	343.06	46.12	34.34	55.32	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.22	0.21
Long-Term Debt to Equity	2.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.22	0.21
Financial Leverage	-1.37	-2.09	-1.77	-1.79	-1.50	-1.14	-1.08	-1.06	-0.97	-0.77	-0.79
Leverage Ratio	3.12	2.80	2.30	2.42	1.94	1.80	1.71	1.60	1.62	1.43	1.39
Compound Leverage Factor	3.38	2.97	1.82	2.49	2.76	1.87	1.81	1.65	2.07	1.44	1.43
Debt to Total Capital	73.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.02%	17.20%
Short-Term Debt to Total Capital	19.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	54.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.02%	17.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	26.09%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	81.98%	82.80%
Debt to EBITDA	-1.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.57	-0.50
Net Debt to EBITDA	0.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.09	1.98
Long-Term Debt to EBITDA	-0.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.57	-0.50
Debt to NOPAT	-1.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.73	-0.65
Net Debt to NOPAT	0.32	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.70	2.57
Long-Term Debt to NOPAT	-1.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.73	-0.65
Altman Z-Score	0.74	0.52	0.95	1.28	3.17	1.66	-0.67	0.82	2.49	3.01	2.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.93	4.43	6.33	6.08	7.66	4.85	6.83	4.76	14.62	11.34	13.81
Quick Ratio	2.83	4.29	6.16	5.63	7.32	4.73	6.55	4.73	14.45	11.17	13.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-117	38	45	24	39	35	34	29	23	-3.38	-3.39
Operating Cash Flow to CapEx	-9,296.67%	-1,626.02%	-1,435.72%	-1,756.67%	-3,984.94%	-7,758.25%	-2,433.89%	-2,289.71%	-2,323.35%	-937.47%	-6,142.55%
Free Cash Flow to Firm to Interest Expense	-25.09	8.60	0.00	9.15	2.76	17.79	19.45	20.64	6.81	-4.85	-5.48
Operating Cash Flow to Interest Expense	-6.57	-4.77	0.00	-8.72	-1.78	-8.15	-6.57	-3.90	-2.46	-6.59	-9.31
Operating Cash Flow Less CapEx to Interest Expense	-6.64	-5.06	0.00	-9.21	-1.82	-8.25	-6.83	-4.07	-2.57	-7.30	-9.46
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.08	0.09	0.10	0.10	0.14	0.15	0.14	0.15	0.14	0.12
Accounts Receivable Turnover	7.41	4.13	4.14	4.04	4.77	3.85	5.66	4.54	4.57	3.98	4.46
Inventory Turnover	2.44	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.01	2.19	2.56	2.81	3.22	4.05	4.39	4.24	3.78	3.48	2.94
Accounts Payable Turnover	1.06	1.93	2.69	1.18	2.22	1.61	1.75	1.66	2.25	1.75	2.10
Days Sales Outstanding (DSO)	49.25	88.41	88.15	90.32	76.59	94.74	64.50	80.45	79.94	91.70	81.88
Days Inventory Outstanding (DIO)	149.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	343.67	188.89	135.93	309.04	164.25	227.05	208.09	220.27	162.30	208.54	173.61
Cash Conversion Cycle (CCC)	-144.64	-100.49	-47.78	-218.72	-87.66	-132.32	-143.58	-139.82	-82.37	-116.84	-91.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	21	-99	-94	-70	-72	-36	-28	-28	-13	17	16
Invested Capital Turnover	-0.56	-0.21	-0.26	-0.30	-0.38	-1.81	-3.11	-3.68	7.87	0.91	0.77
Increase / (Decrease) in Invested Capital	92	-63	-66	-43	-59	-53	-45	-45	-30	-1.16	-2.79
Enterprise Value (EV)	1,227	749	579	784	954	698	335	420	352	315	272
Market Capitalization	1,256	926	783	917	1,112	782	411	509	447	388	351
Book Value per Share	$0.58	$0.91	$1.44	$0.82	$1.13	$0.73	$0.74	$0.94	$1.26	$1.40	$1.48
Tangible Book Value per Share	$0.50	$0.83	$1.35	$0.73	$1.04	$0.62	$0.63	$0.82	$1.15	$1.28	$1.36
Total Capital	191	77	111	63	86	47	48	61	82	110	115
Total Debt	141	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	20	20
Total Long-Term Debt	103	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	20	20
Net Debt	-29	-176	-204	-133	-158	-84	-76	-88	-94	-73	-79
Capital Expenditures (CapEx)	0.33	1.28	1.75	1.29	0.62	0.21	0.48	0.24	0.36	0.49	0.09
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-15	-33	-24	-10	-12	-12	-5.40	-15	-1.54	-2.27	-2.72
Debt-free Net Working Capital (DFNWC)	154	143	180	123	146	71	71	73	93	91	96
Net Working Capital (NWC)	117	143	180	123	146	71	71	73	93	91	96
Net Nonoperating Expense (NNE)	14	13	2.72	8.90	21	8.94	5.37	7.54	5.28	1.99	2.91
Net Nonoperating Obligations (NNO)	-29	-176	-204	-133	-158	-84	-76	-88	-94	-73	-79
Total Depreciation and Amortization (D&A)	0.45	0.52	0.61	0.58	0.49	0.51	0.51	0.59	0.57	0.57	1.13
Debt-free, Cash-free Net Working Capital to Revenue	-109.21%	-236.89%	-153.71%	-67.74%	-74.20%	-70.51%	-29.49%	-83.12%	-9.10%	-14.26%	-19.74%
Debt-free Net Working Capital to Revenue	1,091.01%	1,024.04%	1,155.50%	829.12%	914.45%	407.99%	386.66%	412.25%	548.36%	571.14%	693.29%
Net Working Capital to Revenue	824.99%	1,024.04%	1,155.50%	829.12%	914.45%	407.99%	386.66%	412.25%	548.36%	571.14%	693.29%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.45)	($0.45)	($0.30)	($0.37)	($0.54)	($0.43)	($0.24)	($0.36)	($0.18)	($0.08)	($0.14)
Adjusted Weighted Average Basic Shares Outstanding	85.17M	78.71M	78.32M	76.44M	75.39M	64.99M	64.86M	64.79M	64.66M	60.96M	64.46M
Adjusted Diluted Earnings per Share	($0.45)	($0.45)	($0.30)	($0.37)	($0.54)	($0.43)	($0.24)	($0.36)	($0.18)	($0.08)	($0.14)
Adjusted Weighted Average Diluted Shares Outstanding	85.17M	78.71M	78.32M	76.44M	75.39M	64.99M	64.86M	64.79M	64.66M	60.96M	64.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	85.48M	85.30M	84.64M	76.79M	76.38M	76.03M	64.91M	64.74M	64.72M	64.69M	64.49M
Normalized Net Operating Profit after Tax (NOPAT)	-25	-25	-20	-19	-20	-19	-10	-16	-6.46	-4.55	-6.18
Normalized NOPAT Margin	-794.79%	-866.47%	-459.36%	-520.30%	-678.35%	-408.41%	-283.41%	-333.84%	-143.83%	-84.85%	-195.31%
Pre Tax Income Margin	-1,229.71%	-1,315.36%	-520.57%	-763.65%	-1,377.12%	-605.83%	-429.31%	-491.37%	-261.41%	-121.88%	-287.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-7.59	-8.27	0.00	-10.46	-2.06	-13.47	-8.46	-16.01	-2.69	-9.31	-14.24
NOPAT to Interest Expense	-5.31	-5.79	0.00	-7.32	-1.44	-9.43	-5.92	-11.20	-1.88	-6.52	-9.97
EBIT Less CapEx to Interest Expense	-7.66	-8.56	0.00	-10.96	-2.10	-13.58	-8.73	-16.18	-2.79	-10.01	-14.40
NOPAT Less CapEx to Interest Expense	-5.38	-6.08	0.00	-7.82	-1.48	-9.54	-6.19	-11.37	-1.99	-7.22	-10.12
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Liquidia's Financials

When does Liquidia's financial year end?

According to the most recent income statement we have on file, Liquidia's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Liquidia's net income changed over the last 5 years?

Liquidia's net income appears to be on an upward trend, with a most recent value of -$130.39 million in 2024, rising from -$47.58 million in 2019. The previous period was -$78.50 million in 2023. Check out Liquidia's forecast to explore projected trends and price targets.

What is Liquidia's operating income?

Liquidia's total operating income in 2024 was -$121.29 million, based on the following breakdown:

Total Gross Profit: $8.12 million
Total Operating Expenses: $129.41 million

How has Liquidia revenue changed over the last 5 years?

Over the last 5 years, Liquidia's total revenue changed from $8.07 million in 2019 to $14.00 million in 2024, a change of 73.4%.

How much debt does Liquidia have?

Liquidia's total liabilities were at $153.04 million at the end of 2024, a 115.4% increase from 2023, and a 351.5% increase since 2019.

How much cash does Liquidia have?

In the past 5 years, Liquidia's cash and equivalents has ranged from $55.80 million in 2019 to $176.48 million in 2024, and is currently $176.48 million as of their latest financial filing in 2024.

How has Liquidia's book value per share changed over the last 5 years?

Over the last 5 years, Liquidia's book value per share changed from 1.89 in 2019 to 0.91 in 2024, a change of -51.7%.

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This page (NASDAQ:LQDA) was last updated on 5/27/2025 by MarketBeat.com Staff

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Liquidia (LQDA) Financials

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Liquidia (LQDA) Financials

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