| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 222,786 | 190,680 | 157,496 | 173,422 |
| Accounts receivable, net | 74,157 | 54,093 | 35,959 | 9,968 |
| Inventory | 28,506 | 23,802 | 24,534 | 6,444 |
| Prepaid expenses and other current assets | 7,606 | 4,826 | 8,730 | 5,749 |
| Total current assets | 333,055 | 273,401 | 226,719 | 195,583 |
| Property, plant and equipment, net | 20,838 | 11,844 | 10,704 | 9,540 |
| Operating lease right-of-use assets, net | 4,358 | 3,949 | 4,014 | 4,075 |
| Indemnification asset, related party | 8,547 | 8,392 | 8,294 | 8,284 |
| Contract acquisition costs, net | 6,669 | 6,818 | 6,901 | 7,049 |
| Intangible asset, net | 2,887 | 2,952 | 2,988 | 3,052 |
| Goodwill | 3,903 | 3,903 | 3,903 | 3,903 |
| Deferred tax assets, net | 873 | NaN | NaN | NaN |
| Restricted cash | 3,504 | 3,504 | 3,504 | 3,504 |
| Other assets | 16,899 | 13,171 | 8,954 | 22,420 |
| Total assets | 401,533 | 327,934 | 275,981 | 257,410 |
| Accounts payable | 10,981 | 3,678 | 6,019 | 11,346 |
| Accrued expenses and other current liabilities | 87,729 | 73,197 | 40,444 | 22,522 |
| Long-term debt, current | 50,223 | 58,406 | 56,051 | 44,140 |
| Operating and finance lease liabilities, current | 807 | 487 | 428 | 402 |
| Total current liabilities | 149,740 | 135,768 | 102,942 | 78,410 |
| Litigation finance payable | 8,547 | 8,384 | 8,284 | 7,970 |
| Long-term debt, noncurrent | 127,643 | 132,935 | 136,446 | 149,470 |
| Operating and finance lease liabilities, noncurrent | 6,151 | 6,099 | 6,257 | 6,371 |
| Long-term tax liability | 873 | NaN | NaN | NaN |
| Total liabilities | 292,954 | 283,186 | 253,929 | 242,221 |
| Preferred stock - 10,000,000 shares authorized, none outstanding | 0 | NaN | 0 | 0 |
| Common stock - 0.001 par value, 115,000,000 shares authorized as of march 31, 2026 and december 31, 2025, respectively, 88,308,411 and 87,204,137 shares issued and outstanding as of march 31, 2026 and december 31, 2025, respectively | 88 | 87 | 87 | 86 |
| Additional paid-in capital | 681,942 | 670,974 | 662,833 | 652,438 |
| Accumulated deficit | -573,451 | -626,313 | -640,868 | -637,335 |
| Total stockholders' equity | 108,579 | 44,748 | 22,052 | 15,189 |
| Total liabilities and stockholders' equity | 401,533 | 327,934 | 275,981 | 257,410 |
Liquidia Corp (LQDA)
Liquidia Corp (LQDA)