Short answer
Liquidia Corp (LQDA) filed its Q1 2026 10-Q quarterly report on May 11, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $133M (up 4158.5% year over year) with net income of $53M.
Q1 2026 key financials · XBRL
- Revenue
- $133M
- +4158.5% YoY
- Net income
- $53M
- +237.8% YoY
- Operating margin
- 46.3%
- EPS (diluted)
- $0.52
- +215.6% YoY
Source: XBRL data from the Liquidia Corp (LQDA) Q1 2026 10-Q on SEC EDGAR. USD.
Liquidia Corp Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Total revenue $132.9M, up $129.7M YoY from $3.1M, driven by YUTREPIA product sales of $129.9M
- Service revenue $3.0M, down 4% YoY from $3.1M, reflecting unfavorable chargeback and managed-care adjustments
- Operating income $61.5M versus $35.4M operating loss YoY; operating margin 46.3% versus (1,135.4)%
- Operating cash flow $53.0M versus $(30.7)M YoY; cash and equivalents $222.8M at March 31, 2026
- $20.0M HCR Agreement payment; management expects sufficient liquidity beyond one year but cites FDA, commercialization, and funding risks
Risk Factors
- New tax-law exposure from OBBBA changes to domestic R&D deductions and international tax provisions
- Most material update: YUTREPIA commercialization now follows FDA approval in May 2025 and launch in June 2025
- United Therapeutics litigation seeks injunction forcing YUTREPIA withdrawal or removal of PAH and PH-ILD indications
- Near-term execution risk from scaling sales, marketing, manufacturing, distribution, and compliant healthcare-provider interactions
- Liquidity risk: HCR facility requires a $15.0 million minimum cash balance and permits collateral foreclosure after uncured defaults
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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