LQDA - Liquidia Corporation
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$63.00
DETAILS
HIGH:
$67.00
LOW:
$60.00
MEDIAN:
$62.00
CONSENSUS:
$63.00
UPSIDE:
3.31%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 158.3 | 14.0 | 17.5 | 15.9 | 12.9 | 0.7 | 8.1 | 2.7 | 7.3 | 13.2 |
| Cost of Revenue | 13.2 | 5.9 | 2.9 | 2.9 | 3.0 | 0.2 | 0.8 | 0.1 | 0.3 | 0.9 |
| Gross Profit | 145.1 | 8.1 | 14.6 | 13.1 | 9.8 | 0.5 | 7.3 | 2.6 | 6.9 | 12.3 |
| Operating Expenses | ||||||||||
| R&D Expenses | 39.3 | 47.8 | 43.2 | 19.4 | 20.5 | 32.2 | 40.5 | 28.7 | 24.8 | 23.3 |
| SG&A Expenses | 157.2 | 81.6 | 44.7 | 32.4 | 23.1 | 27.4 | 13.6 | 8.8 | 10.2 | 4.8 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 196.5 | 129.4 | 88.0 | 51.8 | 43.6 | 59.6 | 54.1 | 37.5 | 35.0 | 28.2 |
| Operating Income | ||||||||||
| Operating Income | (51.4) | (121.3) | (73.4) | (38.8) | (33.8) | (59.1) | (46.8) | (34.9) | (28.0) | (15.9) |
| Interest Expense | 24.2 | 12.5 | 6.3 | 2.3 | 0.8 | 0.9 | 1.4 | 19.0 | 13.0 | 0.1 |
| Interest Income | 6.6 | 7.7 | 3.5 | 1.1 | 0.0 | 0.2 | 0.6 | 0.3 | 0.0 | 0.0 |
| Profitability | ||||||||||
| EBITDA | (43.2) | (115.7) | (70.1) | (35.0) | (28.2) | (55.8) | (43.4) | (32.6) | (15.2) | (15.2) |
| EBIT | (44.8) | (117.9) | (72.2) | (38.7) | (33.8) | (58.9) | (46.2) | (34.1) | (16.1) | (15.8) |
| Income Before Tax | (68.9) | (130.4) | (78.5) | (41.0) | (34.6) | (59.8) | (47.6) | (53.1) | (29.2) | (15.9) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 |
| Net Income | (68.9) | (130.4) | (78.5) | (41.0) | (34.6) | (59.8) | (47.6) | (53.1) | (29.2) | (15.9) |
| Per Share Data | ||||||||||
| EPS (Basic) | -0.80 | -1.66 | -1.21 | -0.67 | -0.70 | -1.76 | -2.51 | -7.42 | -3.40 | -1.86 |
| EPS (Diluted) | -0.80 | -1.66 | -1.21 | -0.67 | -0.70 | -1.76 | -2.51 | -7.42 | -3.40 | -1.86 |
| Shares Outstanding | 86.1 | 78.7 | 65.0 | 61.0 | 49.7 | 33.9 | 18.5 | 7.2 | 8.6 | 8.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 190.7 | 176.5 | 83.7 | 93.3 | 57.5 | 65.3 | 55.8 | 39.5 | 3.4 | 1.4 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 54.1 | 2.7 | 4.1 | 5.0 | 3.0 | 0 | 0 | 0.3 | 1.6 | 1.2 |
| Inventory | 0 | 0.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | (54.1) | 5.7 | 2.2 | 1.5 | (0.0) | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 190.7 | 185.1 | 89.9 | 99.8 | 61.3 | 66.1 | 56.4 | 40.0 | 5.5 | 3.1 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 0 | 12.5 | 6.2 | 6.3 | 7.4 | 9.5 | 12.1 | 8.1 | 8.2 | 4.3 |
| Goodwill | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.0 | 3.2 | 3.4 | 3.7 | 4.4 | 5.5 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 3.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 126.9 | 25.7 | 14.9 | 15.5 | 16.7 | 14.6 | 0.4 | 1.3 | 1.1 | 1.0 |
| Total Non-Current Assets | 137.3 | 45.2 | 28.4 | 29.4 | 32.5 | 33.5 | 12.5 | 9.4 | 9.4 | 5.3 |
| Total Assets | 327.9 | 230.3 | 118.3 | 129.2 | 93.7 | 99.5 | 68.8 | 49.4 | 14.8 | 8.5 |
| Current Liabilities | ||||||||||
| Account Payables | 3.7 | 4.7 | 1.4 | 2.2 | 1.1 | 3.7 | 3.5 | 3.2 | 4.4 | 2.4 |
| Short-Term Debt | 58.9 | 18.0 | 2.6 | 0 | 0 | 0 | 5.6 | 0.3 | 15.6 | 2.9 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,071.9 | 3.6 | 3.3 |
| Other Current Liabilities | 73.2 | 18.7 | 8.5 | 2.9 | 3.2 | 5.0 | 1.3 | 0.3 | 2.2 | 1.2 |
| Total Current Liabilities | 135.8 | 41.8 | 18.6 | 8.8 | 7.3 | 11.7 | 16.9 | 8.2 | 30.5 | 12.1 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 132.9 | 97.4 | 43.4 | 19.9 | 10.4 | 10.3 | 10.3 | 11.6 | 5.6 | 5.2 |
| Deferred Tax Liabilities | 3.6 | 0 | 0 | 0 | 0 | 0 | 0 | (0.4) | (0.5) | (0.2) |
| Other Non-Current Liabilities | 4.7 | 7.3 | 6.7 | 6.6 | 6.1 | 1.2 | 0 | 2.4 | 6.4 | 0.5 |
| Total Non-Current Liabilities | 147.4 | 111.3 | 52.5 | 30.0 | 21.1 | 16.7 | 17.0 | 22.5 | 18.0 | 14.6 |
| Total Liabilities | 283.2 | 153.0 | 71.0 | 38.8 | 28.5 | 28.4 | 33.9 | 30.7 | 48.5 | 26.7 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (626.3) | (559.5) | (429.1) | (350.6) | (309.6) | (275.0) | (215.2) | (167.1) | (113.4) | (84.3) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (9.3) | (7.8) | (6.9) |
| Total Stockholders' Equity | 44.7 | 77.3 | 47.3 | 90.4 | 65.3 | 71.1 | 34.9 | 18.7 | (33.7) | (18.2) |
| Total Liabilities & Equity | 327.9 | 230.3 | 118.3 | 129.2 | 93.7 | 99.5 | 68.8 | 49.4 | 14.8 | 8.5 |
| Debt Metrics | ||||||||||
| Total Debt | 197.9 | 122.4 | 49.5 | 24.5 | 16.1 | 17.1 | 24.4 | 12.8 | 22.1 | 8.7 |
| Net Debt | 7.2 | (54.1) | (34.1) | (68.8) | (41.4) | (48.2) | (31.4) | (26.8) | 18.7 | 7.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (68.9) | (130.4) | (78.5) | (41.0) | (34.6) | (59.8) | (47.6) | (53.1) | (29.2) | (15.9) |
| Depreciation & Amortization | 1.5 | 2.2 | 2.2 | 3.6 | 5.6 | 3.1 | 2.6 | 1.5 | 0.9 | 0.7 |
| Stock-Based Compensation | 29.5 | 18.8 | 10.1 | 9.3 | 6.7 | 4.0 | 3.4 | 2.2 | 0.5 | 0.3 |
| Change in Working Capital | (24.2) | (4.8) | 5.9 | (2.2) | (12.4) | (1.7) | (7.0) | 0.3 | 0.4 | 0.6 |
| Other Non-Cash Items | 26.4 | 20.8 | 18.8 | 1.6 | 0.6 | 0.2 | 0.3 | 17.7 | 14.9 | 0.4 |
| Operating Cash Flow | (35.7) | (93.4) | (41.6) | (28.6) | (34.0) | (54.1) | (48.3) | (31.8) | (24.3) | (13.9) |
| Investing Activities | ||||||||||
| Capital Expenditure | (4.3) | (4.9) | (1.3) | (0.6) | (0.1) | (0.8) | (1.9) | (0.9) | (2.5) | (2.9) |
| Acquisitions | 0 | 0 | 0 | 0.0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (2) | (3.5) | (10.0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (6.3) | (8.4) | (11.3) | (0.6) | (0.1) | 0.2 | (1.9) | (0.9) | (2.5) | (2.9) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 53.8 | 52.5 | 19.4 | 9.0 | (0.4) | (6.8) | 4.0 | (1.4) | 30.1 | 5.7 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 1.1 | 3.6 | (0.4) | 1.5 | 5.0 | (1.0) | 0 | (2.2) | (1.3) | 0.4 |
| Financing Cash Flow | 59.7 | 194.7 | 43.2 | 65.0 | 26.3 | 63.4 | 66.4 | 68.8 | 28.8 | 6.1 |
| Cash Position | ||||||||||
| Net Change in Cash | 14.2 | 92.8 | (9.6) | 35.8 | (7.8) | 9.5 | 16.3 | 36.1 | 2.0 | (10.7) |
| Cash at Beginning | 176.5 | 83.7 | 93.3 | 57.5 | 65.3 | 55.8 | 39.5 | 3.4 | 1.4 | 12.2 |
| Cash at End | 190.7 | 176.5 | 83.7 | 93.3 | 57.5 | 65.3 | 55.8 | 39.5 | 3.4 | 1.4 |
| Free Cash Flow | (40.0) | (98.4) | (42.9) | (29.2) | (34.1) | (54.9) | (50.1) | (32.7) | (26.8) | (16.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 158.3 | 14.0 | 17.5 | 15.9 | 12.9 | 0.7 | 8.1 | 2.7 | 7.3 | 13.2 |
| Gross Profit | 145.1 | 8.1 | 14.6 | 13.1 | 9.8 | 0.5 | 7.3 | 2.6 | 6.9 | 12.3 |
| Operating Income | (51.4) | (121.3) | (73.4) | (38.8) | (33.8) | (59.1) | (46.8) | (34.9) | (28.0) | (15.9) |
| Net Income | (68.9) | (130.4) | (78.5) | (41.0) | (34.6) | (59.8) | (47.6) | (53.1) | (29.2) | (15.9) |
| EPS (Diluted) | -0.80 | -1.66 | -1.21 | -0.67 | -0.70 | -1.76 | -2.51 | -7.42 | -3.40 | -1.86 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 190.7 | 176.5 | 83.7 | 93.3 | 57.5 | 65.3 | 55.8 | 39.5 | 3.4 | 1.4 |
| Total Assets | 327.9 | 230.3 | 118.3 | 129.2 | 93.7 | 99.5 | 68.8 | 49.4 | 14.8 | 8.5 |
| Total Debt | 197.9 | 122.4 | 49.5 | 24.5 | 16.1 | 17.1 | 24.4 | 12.8 | 22.1 | 8.7 |
| Stockholders' Equity | 44.7 | 77.3 | 47.3 | 90.4 | 65.3 | 71.1 | 34.9 | 18.7 | (33.7) | (18.2) |
| Cash Flow | ||||||||||
| Operating Cash Flow | (35.7) | (93.4) | (41.6) | (28.6) | (34.0) | (54.1) | (48.3) | (31.8) | (24.3) | (13.9) |
| Capital Expenditure | (4.3) | (4.9) | (1.3) | (0.6) | (0.1) | (0.8) | (1.9) | (0.9) | (2.5) | (2.9) |
| Free Cash Flow | (40.0) | (98.4) | (42.9) | (29.2) | (34.1) | (54.9) | (50.1) | (32.7) | (26.8) | (16.8) |