Filing Flows › Liquidia (LQDA) › Q1 2025
Liquidia (LQDA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Liquidia (LQDA) reported revenue of $3.1M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +7% from the quarter before.
Liquidia, Q1 2025: revenue $3.1M (+5% year over year), net loss $38.4M, operating cash flow −$30.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1M | +7% | +5% |
| Operating profit | −$35.4M | — | — |
| Net earnings | −$38.4M | — | — |
| Operating cash flow | −$30.7M | — | — |
What changed
Revenue was $3.1M in Q1 2025, up 5% year over year and up 7% from the previous quarter.
Operating costs exceeded revenue by $35.4M, an operating margin of -1135.4%. Total costs grew 21% against revenue growth of 5%. The quarter ended with a net loss of $38.4M, narrower than the previous quarter's $38.5M loss.
Operating cash flow was −$30.7M. Non-cash charges added back $451K of depreciation and amortization and $7.4M of share-based compensation. Capital expenditures of $330K exceeded it, leaving free cash flow of −$31.0M.
Questions
What was Liquidia's revenue in the first quarter 2025?
Liquidia (LQDA) reported revenue of $3.1M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +7% from the quarter before.
Source: Liquidia 10-Q on SEC EDGAR.