For the year ending 2025-12-31, LQDA had $17,705K increase in cash & cash equivalents over the period. -$40,022K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net loss | -68,924 | -130,394 | -78,502 | -41,015 |
| Acquired in-process research and development | 2,000 | 3,500 | 10,000 | - |
| Stock-based compensation | 29,472 | 18,806 | 10,089 | 9,298 |
| Depreciation and amortization | 1,528 | 2,197 | 2,178 | 3,647 |
| Non-cash lease expense | 238 | 468 | 397 | 311 |
| Loss (gain) on disposal of property and equipment | -11 | -46 | 2 | -4 |
| Loss on extinguishment of debt | - | -4,268 | -2,311 | -997 |
| Non-cash interest expense | - | - | - | 328 |
| Accretion and non-cash interest expense | 24,172 | 12,479 | 6,093 | - |
| Accounts receivable, net | 51,374 | -1,342 | -956 | 2,027 |
| Inventory | 22,988 | 241 | - | - |
| Prepaid expenses and other current assets | -840 | 1,881 | 798 | 719 |
| Other noncurrent assets | 2,253 | 10,631 | -20 | -4 |
| Accounts payable | -2,593 | 2,330 | -1,152 | 814 |
| Accrued expenses and other current liabilities | 54,538 | 5,259 | 7,746 | 545 |
| Operating lease liabilities | -353 | -970 | -900 | -775 |
| Net cash used in operating activities | -35,686 | -93,422 | -41,564 | -28,588 |
| Purchase of in-process research and development | 2,000 | 3,500 | 10,000 | - |
| Purchases of property, plant and equipment | 4,336 | 4,949 | 1,290 | 592 |
| Proceeds from the sale of property, plant and equipment | - | 8 | 2 | 5 |
| Net cash used in investing activities | -6,336 | -8,441 | -11,288 | -587 |
| Proceeds from revenue interest financing, net | - | 57,460 | 41,744 | - |
| Proceeds from long-term debt, net of fees | 74,975 | - | - | 19,767 |
| Payments on long-term debt | 21,090 | 4,853 | 20,000 | 10,500 |
| Payments for debt prepayment and extinguishment costs | - | - | 2,190 | - |
| Payments | - | - | 1,654 | - |
| Principal payments on finance leases | 64 | 107 | 181 | 311 |
| Receipts from litigation financing | 1,084 | 593 | 113 | 451 |
| Proceeds from sale of common stock, net of issuance costs | - | 138,551 | 24,238 | 54,461 |
| Proceeds from issuance of common stock under stock incentive plans | 4,822 | 3,019 | 1,178 | 1,096 |
| Net cash provided by financing activities | 59,727 | 194,663 | 43,248 | 64,964 |
| Net increase in cash, cash equivalents, and restricted cash | 17,705 | 92,800 | -9,604 | 35,789 |
| Cash, cash equivalents, and restricted cash, beginning of period | 176,479 | 83,679 | 93,283 | 57,494 |
| Cash, cash equivalents, and restricted cash, end of period | 194,184 | 176,479 | 83,679 | 93,283 |
Liquidia Corp (LQDA)
Liquidia Corp (LQDA)