Liquidia Corporation | Mid-cap | Healthcare

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 3.1M
Gross Profit 1.6M 51.38%
Operating Income -35.4M -1,135.42%
Net Income -38.4M -1,229.71%
EPS (Diluted) $-0.45

Balance Sheet Metrics

Total Assets 227.4M
Total Liabilities 177.7M
Shareholders Equity 49.7M
Debt to Equity 3.57

Cash Flow Metrics

Operating Cash Flow -26.7M
Free Cash Flow -31.0M

Revenue & Profitability Trend

Liquidia Income Statement From 2020 to 2024

Metric20242023202220212020
Revenue i14.0M17.5M15.9M12.9M739.6K
Cost of Goods Sold i5.9M2.9M2.9M3.0M237.7K
Gross Profit i8.1M14.6M13.1M9.8M501.9K
Gross Margin % i58.0%83.5%82.1%76.5%67.9%
Operating Expenses
Research & Development i47.8M43.2M19.4M20.5M32.2M
Selling, General & Administrative i81.6M44.7M32.4M23.1M27.4M
Other Operating Expenses i-----
Total Operating Expenses i129.4M88.0M51.8M43.6M59.6M
Operating Income i-121.3M-73.4M-38.8M-33.8M-59.1M
Operating Margin % i-866.6%-419.6%-243.3%-263.0%-7,989.0%
Non-Operating Items
Interest Income i7.7M3.5M1.1M33.0K184.4K
Interest Expense i12.5M6.3M2.3M762.0K858.0K
Other Non-Operating Income-4.3M-2.3M-997.0K-53.0K-
Pre-tax Income i-130.4M-78.5M-41.0M-34.6M-59.8M
Income Tax i-----
Effective Tax Rate % i0.0%0.0%0.0%0.0%0.0%
Net Income i-130.4M-78.5M-41.0M-34.6M-59.8M
Net Margin % i-931.7%-448.9%-257.4%-269.0%-8,080.1%
Key Metrics
EBITDA i-111.4M-67.7M-34.0M-28.2M-55.8M
EPS (Basic) i$-1.66$-1.21$-0.67$-0.70$-1.76
EPS (Diluted) i$-1.66$-1.21$-0.67$-0.70$-1.76
Basic Shares Outstanding i7870750364993476609588624967773733888434
Diluted Shares Outstanding i7870750364993476609588624967773733888434

Income Statement Trend

Liquidia Balance Sheet From 2020 to 2024

Metric20242023202220212020
Assets
Current Assets
Cash & Equivalents i176.5M83.7M93.3M57.5M65.3M
Short-term Investments i-----
Accounts Receivable i2.7M4.1M5.0M3.0M0
Inventory i241.0K----
Other Current Assets5.7M2.2M1.5M792.0K752.4K
Total Current Assets i185.1M89.9M99.8M61.3M66.1M
Non-Current Assets
Property, Plant & Equipment i11.1M8.5M8.4M9.0M10.1M
Goodwill i11.0M11.2M11.5M12.2M13.3M
Intangible Assets i3.2M3.4M3.7M4.4M5.5M
Long-term Investments-----
Other Non-Current Assets25.7M14.9M15.5M16.7M13.2M
Total Non-Current Assets i45.2M28.4M29.4M32.5M33.5M
Total Assets i230.3M118.3M129.2M93.7M99.5M
Liabilities
Current Liabilities
Accounts Payable i4.7M1.4M2.2M1.1M3.7M
Short-term Debt i18.4M1.1M1.1M1.1M1.6M
Current Portion of Long-term Debt-----
Other Current Liabilities----1.8M
Total Current Liabilities i41.8M18.6M8.8M7.3M11.7M
Non-Current Liabilities
Long-term Debt i104.0M2.4M23.4M15.0M15.6M
Deferred Tax Liabilities i-----
Other Non-Current Liabilities-----
Total Non-Current Liabilities i111.3M52.5M30.0M21.1M16.7M
Total Liabilities i153.0M71.0M38.8M28.5M28.4M
Equity
Common Stock i85.0K69.0K64.0K52.0K43.3K
Retained Earnings i-559.5M-429.1M-350.6M-309.6M-275.0M
Treasury Stock i-----
Other Equity-----
Total Shareholders Equity i77.3M47.3M90.4M65.3M71.1M
Key Metrics
Total Debt i122.4M3.5M24.5M16.1M17.1M
Working Capital i143.3M71.3M91.0M53.9M54.3M

Balance Sheet Composition

Liquidia Cash Flow Statement From 2020 to 2024

Metric20242023202220212020
Operating Activities
Net Income i-130.4M-78.5M-41.0M-34.6M-59.8M
Depreciation & Amortization i2.2M2.2M3.6M5.6M3.1M
Stock-Based Compensation i18.8M10.1M9.3M6.7M4.0M
Working Capital Changes i-8.2M-1.1M-2.0M-13.0M-1.8M
Operating Cash Flow i-101.1M-50.8M-29.4M-34.8M-54.2M
Investing Activities
Capital Expenditures i-4.9M-1.3M-587.0K-107.0K-752.1K
Acquisitions i---01.0M
Investment Purchases i-----
Investment Sales i-----
Investing Cash Flow i-4.9M-1.3M-587.0K-107.0K247.9K
Financing Activities
Share Repurchases i-----
Dividends Paid i-----
Debt Issuance i57.5M41.7M19.8M10.4M0
Debt Repayment i-5.0M-22.4M-10.8M-10.8M-6.8M
Financing Cash Flow i191.6M42.1M63.9M26.3M63.3M
Free Cash Flow i-101.9M-52.9M-29.2M-34.1M-54.9M
Net Change in Cash i85.6M-10.0M33.9M-8.6M9.4M

Cash Flow Trend

Liquidia Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) -16.17
Forward P/E -17.21
Price to Book 151.64
Price to Sales 119.59
PEG Ratio -0.50

Profitability Ratios

Profit Margin 58.00%
Operating Margin -424.41%
Return on Equity -389.13%
Return on Assets -39.74%

Financial Health

Current Ratio 2.49
Debt to Equity 1,319.26
Beta 0.15

Per Share Data

EPS (TTM) $-1.82
Book Value per Share $0.18
Revenue per Share $0.23

Peer Financial Comparison

CompanyMarket CapP/E RatioP/B RatioROEProfit MarginDebt/Equity
lqda2.3B-16.17151.64-389.13%58.00%1,319.26
Vertex 101.3B28.085.9022.77%31.86%8.89
Regeneron 63.6B15.122.0915.34%31.37%9.04
BridgeBio Pharma 9.6B-17.12-5.2836.76%98.25%-1.04
Madrigal 9.1B-18.9413.00-36.30%-54.68%17.81
Halozyme 8.4B16.3925.31179.14%47.28%462.23

Financial data is updated regularly. All figures are in the company's reporting currency.