LQDA is the ticker symbol for Liquidia Corp, a publicly traded Healthcare sector company listed on Nasdaq. 13F Pro tracks LQDA with AI-powered analysis, an AI quality score, SEC EDGAR financials, insider transactions, and institutional 13F holdings — all sourced directly from public SEC filings.

Is LQDA a good stock to buy?

13F Pro's AI ranking engine scores LQDA at 78.2/100, ranked #56 of 2,925 stocks on a composite quality score built from its SEC filings, covering profitability, growth, balance sheet strength, and free cash flow. The full AI verdict and bull/bear case for LQDA is available at https://13fpro.ai/company/LQDA. Not investment advice — review the underlying SEC filings before making any trade.

Where does 13F Pro source LQDA data?

All Liquidia Corp fundamentals and ownership data come directly from SEC EDGAR. Liquidia Corp files with the SEC under CIK 1819576. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

Liquidia Corp LQDA

NasdaqMid CapHealthcare

13F Pro quality score

Rank #56 of 2,925TOP 5%

Why it scores 78 Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed. Next update: ~Nov 14, 2026.

Revenue

$171.68M

Quarter to Jun 30

Net income

$74.72M

Quarter to Jun 30

Free cash flow

$69.01M

Quarter to Jun 30

Operating margin

49.8%

Quarter to Jun 30

Top Institutional Holders

as of Q2 2026

$5.77B total

BlackRock, Inc.

$860.17M+96.5%

FARALLON CAPITAL MANAGEMENT LLC

$666.94M-3.4%

Caligan Partners LP

$647.32M0.0%

FINDELL CAPITAL MANAGEMENT LLC

$279.22M0.0%

VANGUARD CAPITAL MANAGEMENT LLC

$250.29M+7.3%

STATE STREET CORP

$241.61M+61.1%

Opaleye Management Inc.

$195.14M-3.8%

GEODE CAPITAL MANAGEMENT, LLC

$169.16M+10.0%

BANK OF AMERICA CORP /DE/

$158.79M-12.9%

PRICE T ROWE ASSOCIATES INC /MD/

$154.71M+103.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

$122.16M+142.2%

Caprock Group, LLC

$112.40M+3.1%

MPM BioImpact LLC

$110.52M-1.4%

D. E. Shaw & Co., Inc.

$101.07M+45.2%

FULLER & THALER ASSET MANAGEMENT, INC.

$96.44MNew

GOLDMAN SACHS GROUP INC

$76.45M+18.1%

FEDERATED HERMES, INC.

$65.07M+86.0%

NORTHERN TRUST CORP

$56.53M+22.3%

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

$53.74M+21.0%

MORGAN STANLEY

$52.50M+91.0%

BOOTHBAY FUND MANAGEMENT, LLC

$49.65M-0.4%

UBS Group AG

$48.36M+192.7%

FMR LLC

$47.49M+2.3%

AMERICAN CENTURY COMPANIES INC

$43.22MNew

VANGUARD FIDUCIARY TRUST CO

$40.17M+6.7%

See all 336 institutional holders →

What's Driving LQDA's Business? Latest 10-Q Breakdown

27/27 datapoints verified

AI-extracted from the 10-Q filed 2026-08-12 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

First full year of YUTREPIA selling drove Q2 revenue to $171.7M from $8.8M, delivering $74.7M net income versus a $41.6M loss a year ago.

Biggest Revenue Drivers

Product sales, net (YUTREPIA)$170.4M+2,514.4% YoY

The increase of $163.9 million was due to higher volume of YUTREPIA sales.

Service revenue, net (Sandoz Promotion Agreement)$1.3M-44% YoY

The decrease of $1.0 million was primarily due to the impact of unfavorable gross-to-net adjustments.

Biggest Revenue Drivers

Total revenue: $171.7M+1,843% YoY

Product sales, net (YUTREPIA)$170.4M+2,514.4% YoY

The increase of $163.9 million was due to higher volume of YUTREPIA sales.

Service revenue, net (Sandoz Promotion Agreement)$1.3M-44% YoY

The decrease of $1.0 million was primarily due to the impact of unfavorable gross-to-net adjustments.

Largest Expense Items

Selling, general and administrative$57.4M+48% YoY

$10.0M higher personnel, $3.1M stock compensation and $8.6M commercial/consulting, offset by a $5.5M decrease in litigation legal fees.

Research and development$17.2M+185% YoY

Primarily a $7.0M increase in L606 program spend, $2.0M in YUTREPIA R&D, and a $1.0M L606 development milestone.

Cost of product sales$10.8M+5,148% YoY

The increase of $10.6 million was primarily due to higher volume of YUTREPIA sales.

Margins: Cost of product sales was $10.8M on $170.4M of product sales. The filing warns that, having sold through inventory previously expensed to R&D, future cost of product sales will reflect the full manufacturing cost of YUTREPIA.

Watch Items from the Filing

United Therapeutics litigation seeks injunctive relief removing YUTREPIA from the market; the '327 trial decision is pending and the company cannot estimate a range of losses.
Customer concentration: Customer A and Customer B were 46% and 45% of gross product sales for the six months, and 40% and 55% of accounts receivable.
HCR revenue interest financing: $176.1M carrying value, $54.0M due within one year, $250.6M total fixed contractual payments, and a $15.0M minimum cash covenant through 2033.
Service revenue remains constrained: ICU Medical no longer supports the CADD-MS 3 pump, limiting patients placed on subcutaneous Treprostinil Injection therapy.
Effective tax rate of 8.5% includes a partial valuation allowance release; management may release more if sustained profitability is demonstrated. Cash rose to $284.2M.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →

Key Metrics

Revenue

Q2 2026

EDGAR

Net Income

Q2 2026

EDGAR

EPS (Diluted)

Q2 2026

EDGAR

Operating Margin

Q2 2026

EDGAR

Free Cash Flow

Q2 2026

EDGAR

Financial Trends

Revenue & Net Income

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Earnings Per Share

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Liquidia Corp reported revenue, net income and margins by fiscal period, from SEC filings.
Period	Form	Revenue	Net income	Op. marginOperating margin
FY 2025	10-K	$158.3M	$-68.9M	-32.5%
FY 2024	10-K	$14.0M	$-128.3M	—
FY 2023	10-K	$17.5M	$-78.5M	—
FY 2022	10-K	$15.9M	$-41.0M	—
FY 2021	10-K	$12.9M	$-34.6M	—
FY 2020	10-K	$739.6K	$-59.8M	—

About Liquidia Corp (LQDA): stock profile, AI score and financials

Liquidia Corp (LQDA) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores LQDA at 78.2/100 on a composite quality score built from its SEC filings, placing it at rank #56 of 2,925 stocks — the top 5% of the AI-ranked universe. LQDA scores in the top quartile across revenue growth (99.4), balance sheet strength (98.8), institutional flow (92.8). Areas of concern include revenue scale (35.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 9.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Liquidia Corp reports quarterly revenue of $171.7M, net income of $74.7M, an operating margin of 49.8%. Top institutional holders of LQDA by reported 13-F value include BlackRock, FARALLON CAPITAL MANAGEMENT, Caligan Partners, based on the most recent SEC filings. LQDA trades on the Nasdaq exchange and files with the SEC under CIK 1819576. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LQDA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Liquidia Corp directly from SEC EDGAR.

Financials through the period ended Jun 30, 2026SEC EDGAR: CIK 1819576 →

Liquidia Corp LQDA

Top Institutional Holders

What's Driving LQDA's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Biggest Revenue Drivers

Largest Expense Items

Watch Items from the Filing

Key Metrics

Financial Trends

Revenue & Net Income

Earnings Per Share

LQDA key financials by period

LQDA insiders

About Liquidia Corp (LQDA): stock profile, AI score and financials

Liquidia Corp LQDA

Top Institutional Holders

What's Driving LQDA's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Key Metrics

Financial Trends

Revenue & Net Income

Earnings Per Share

LQDA key financials by period

Companies similar to LQDA

LQDA insiders

About Liquidia Corp (LQDA): stock profile, AI score and financials