Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $8.07M | $740K | $12.9M | $15.9M | $17.5M | $14.0M | $158M |
| Revenue growth | — | -90.8% | 1637.8% | 24.0% | 9.7% | -20.0% | 1031.2% |
| Operating income | -$46.8M | -$59.1M | -$33.8M | -$38.8M | -$73.4M | -$121M | -$51.4M |
| Operating margin | -580.1% | -7989.0% | -263.0% | -243.3% | -419.6% | -866.6% | -32.5% |
| Net income | -$47.6M | -$59.8M | -$34.6M | -$41.0M | -$78.5M | -$128M | -$68.9M |
| Net margin | -589.5% | -8080.1% | -269.0% | -257.4% | -448.9% | -916.6% | -43.5% |
| EPS (diluted) | -$2.57 | -$1.76 | -$0.70 | -$0.67 | -$1.21 | -$1.63 | -$0.80 |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$48.3M | -$54.1M | -$34.0M | -$28.6M | -$41.6M | -$93.4M | -$35.7M |
| Capital expenditures | $1.85M | $752K | $107K | $592K | $1.29M | $4.95M | $4.34M |
| Free cash flow | -$50.1M | -$54.9M | -$34.1M | -$29.2M | -$42.9M | -$98.4M | -$40.0M |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | — | $65.3M | $57.5M | $93.3M | $83.7M | $176M | $191M |
| Total assets | $68.8M | $99.5M | $93.7M | $129M | $118M | $230M | $328M |
| Total liabilities | $33.9M | $28.4M | $28.5M | $38.8M | $71.0M | $151M | $283M |
| Long-term debt | $10.3M | $10.3M | $10.4M | $19.9M | — | — | — |
| Shareholders' equity | $34.9M | $71.1M | $65.3M | $90.4M | $47.3M | $79.4M | $44.7M |
| Retained earnings | -$215M | -$275M | -$310M | -$351M | -$429M | -$557M | -$626M |
| Shares (wtd avg diluted) | 18.5M | 33.9M | 49.7M | 61.0M | 65.0M | 78.7M | 86.1M |
Every figure is extracted from Liquidia Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.