📊 LQDA Key Takeaways
Is LQDA a Good Investment? Thesis Analysis
Liquidia demonstrates extraordinary revenue growth of 1031% YoY, suggesting successful product launch or acquisition integration, but remains deeply unprofitable with -32.5% operating margin and -$40M annual free cash flow burn. Despite a strong $190.7M cash position and low debt, the company's failure to convert explosive growth into profitability, combined with high insider trading activity, indicates execution risk in a competitive pharmaceutical market.
Why Buy LQDA? Key Strengths
- Exceptional revenue growth of 1031% YoY demonstrating successful market penetration or transformative acquisition
- Fortress balance sheet with $190.7M cash, minimal long-term debt of $19.9M, and 2.01x current ratio
- Sufficient cash runway exceeding 5 years at current burn rate providing time for profitability inflection
LQDA Investment Risks to Consider
- Severe profitability deficit with negative operating margin (-32.5%) and persistent cash burn (-$40M annually) despite revenue scale
- Pharmaceutical sector regulatory and competitive pressures with unclear margin expansion pathway despite growth achievement
- Abnormally high insider trading activity (32 Form 4 filings in 90 days) potentially signaling insider concerns about business trajectory
- Operating cash flow deterioration (-$35.7M) despite 1031% growth suggests unsustainable cost structure or acquisition integration challenges
Key Metrics to Watch
- Operating margin trajectory and timeline to breakeven profitability with sustained revenue growth
- Operating cash flow inflection point and path to positive free cash flow generation
- Gross margin sustainability and operating expense leverage as revenue scales
- Cash burn rate deceleration and working capital efficiency in next two quarters
LQDA Financial Metrics
💡 AI Analyst Insight
Strong liquidity with a 2.01x current ratio provides a solid financial cushion.
LQDA Profitability Ratios
LQDA vs Healthcare Sector
How Liquidia Corp compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is LQDA Overvalued or Undervalued?
Based on fundamental analysis, Liquidia Corp shows some fundamental concerns relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
LQDA Balance Sheet & Liquidity
LQDA 5-Year Financial Trend & Growth Analysis
5-Year Trend Summary: Liquidia Corp's revenue has grown significantly by 1,132% over the 5-year period, indicating strong business expansion. The most recent EPS of $-1.21 indicates the company is currently unprofitable.
LQDA Growth Metrics (YoY)
LQDA Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $4.4M | -$3.5M | $-0.04 |
| Q2 2025 | $3.7M | -$28.7M | $-0.38 |
| Q1 2025 | $3.0M | -$30.1M | $-0.40 |
| Q3 2024 | $3.7M | -$11.7M | $-0.24 |
| Q2 2024 | $3.7M | -$11.7M | $-0.36 |
| Q1 2024 | $3.0M | -$11.7M | $-0.18 |
| Q3 2023 | $3.2M | -$9.1M | $-0.14 |
| Q2 2023 | $3.9M | -$9.4M | $-0.15 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
LQDA Capital Allocation
LQDA SEC 10-K & 10-Q Filing Analysis
Access official SEC EDGAR filings for Liquidia Corp (CIK: 0001819576)
📋 Recent SEC Filings
❓ Frequently Asked Questions about LQDA
What is the AI rating for LQDA?
Liquidia Corp (LQDA) has an AI rating of SELL with 68% confidence, based on fundamental analysis of SEC EDGAR filings.
What are LQDA's key strengths?
Claude: Exceptional revenue growth of 1031% YoY demonstrating successful market penetration or transformative acquisition. Fortress balance sheet with $190.7M cash, minimal long-term debt of $19.9M, and 2.01x current ratio.
What are the risks of investing in LQDA?
Claude: Severe profitability deficit with negative operating margin (-32.5%) and persistent cash burn (-$40M annually) despite revenue scale. Pharmaceutical sector regulatory and competitive pressures with unclear margin expansion pathway despite growth achievement.
What is LQDA's revenue and growth?
Liquidia Corp reported revenue of $158.3M.
Does LQDA pay dividends?
Liquidia Corp does not currently pay dividends.
Where can I find LQDA SEC filings?
Official SEC filings for Liquidia Corp (CIK: 0001819576) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is LQDA's EPS?
Liquidia Corp has a diluted EPS of $-0.80.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is LQDA a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Liquidia Corp has a SELL rating with 68% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is LQDA stock overvalued or undervalued?
Valuation metrics for LQDA: ROE of -154.0% (sector avg: 15%), net margin of -43.5% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy LQDA stock in 2026?
Our dual AI analysis gives Liquidia Corp a combined SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is LQDA's free cash flow?
Liquidia Corp's operating cash flow is $-35.7M, with capital expenditures of $4.3M. FCF margin is -25.3%.
How does LQDA compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -43.5% (avg: 12%), ROE -154.0% (avg: 15%), current ratio 2.01 (avg: 2).