Short answer
Liquidia Corp (LQDA) filed its Q3 2025 10-Q quarterly report on Nov 3, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $54M (up 1121.7% year over year) with net income of −$4M.
Q3 2025 key financials · XBRL
- Revenue
- $54M
- +1121.7% YoY · +514.9% QoQ
- Net income
- −$4M
- +84.7% YoY · +91.5% QoQ
- Operating margin
- 3.3%
- EPS (diluted)
- −$0.03
- +89.7% YoY · +93.9% QoQ
Source: XBRL data from the Liquidia Corp (LQDA) Q3 2025 10-Q on SEC EDGAR. USD.
Liquidia Corp Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- New legal risk: United Therapeutics lawsuits seeking injunction to remove YUTREPIA from PAH/PH-ILD markets, risking loss of FDA approval or sales suspension
- Most material update: Accumulated deficit $640.9M as of Sep 30, 2025, net losses $83.5M (9 months 2025) versus $128.3M (2024) and $78.5M (2023), ongoing loss uncertainty
- Regulatory risk: Dependence on Sandoz for Treprostinil Injection manufacture and FDA compliance, with no direct control over quality or regulatory adherence
- Operational risk: Single-source suppliers for YUTREPIA and L606 components risk supply disruptions, potentially delaying commercialization
- Financial risk: Financing facility with HCR requires maintaining minimum $15M cash balance and contains restrictive covenants, risking collateral seizure upon default
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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