Liquidia Corp · Drugmakers

LQDA

Elevated riskNext report: In 6 days (est.)

View price ↗

The short version

A company still losing money, with elevated risk. Institutions are adding.

Watch out for

Share count growing 12.2% a year (dilution)
Losing money, losses are large next to sales

Money moves

Insiders sold $9.3M in the last 30 days
Institutions added 17% to their holdings in the quarter ending June 2026 (225 bought, 113 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$43.74+2.6% that day

Company value: $3.9B; Share price times all shares
Price vs profit (P/E): 31.5x; You pay about $31 for each $1 of yearly profit
Price vs sales: 8.7x; Company value is 8.7 times a year of sales
Cash vs value: 7%; Cash as a share of company value

From LQDA's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$171.7M

Sep '23Tap a barJun '26

Last 12 months: $450.9M.

What the price assumes

Your guesses, our math

Move the sliders to your own view of LQDA. Starting points are the company's recent numbers.

Sales growth+5% a yearRecent growth not reportedProfit margin31%Last 12 months: 30.7%P/E at the end31xToday: 31.5x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$575M

Profit in 5 years$178M

Price these guesses point to$38.36-12% vs $43.74 todayAbout -2.6% a year, before dividends

What today's price needs: with a 31% margin and a 31x P/E, sales would have to grow about 7.8% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

0/5Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.-111.1%
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-43.5%
MissProfitable every yearSteady profits, not one good year.0 of 7 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$40.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+41.2% in 3 years

Revenue: $158.3M
5-year growth: +192.5%/yr; revenue, per year
Current ratio: 2.01x; short-term assets / bills due
Free cash flow: -$40.0M; -25.3% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 12

Revenue: $171.7M; +1842.7% YoY
EPS: $0.74; vs -$0.49
Op. margin: 49.8%; +474.2 pts
Free cash flow: $69.0M
Share count: +18.5%; vs a year ago

Insider rating

Last 90 days

16Heavy selling

1 insider sold $6.4M (not pre-planned)
An insider sold their entire stake
Pre-planned sales of $2.9M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 2.4
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+17.3%

Institutions added 17.3% to their holdings. 225 bought, 113 sold.

Shares held by institutions72.6M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+11.4%

Cash runwayAt last year's cash burn

96 months

Debt to equityLatest balance sheet: debt compared with what owners have

Total liabilities $326.8M

Shares outstandingLatest reported

90M

Why elevated risk

Losing money, losses are large next to sales
Share count growing 11.4% a year (dilution)

Earnings reports

Last 12

Next reportIn 6 days (est.)Estimated from the same quarter last year

Results filedAug 12
Results filedMay 11
Results filedMar 5
Results filedNov 3, 2025
Results filedAug 12, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Aug 14 · View filing ↗Big holder 5%+ holder update (passive)Aug 4 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$9.3M10 insiders, 9 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Russell SchundlerGeneral Counsel	Sell	14K	$28.48	$390K	603K	Oct 12Filing ↗
-2.2% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Rajeev SaggarChief Medical Officer	Sell	9K	$28.48	$263K	126K	Oct 12Filing ↗
-6.8% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Scott MoomawChief Commercial Officer	Sell	9K	$28.48	$252K	181K	Oct 12Filing ↗
-4.7% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Sarah KreppChief Human Resource Officer	Sell	5K	$28.48	$149K	115K	Oct 12Filing ↗
-4.4% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Sanjeev KhindriChief Development Officer	Sell	1K	$28.48	$31K	65K	Oct 12Filing ↗
-1.7% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Michael KasetaCFO and COO	Sell	19K	$28.48	$539K	340K	Oct 12Filing ↗
-5.3% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Roger JeffsChief Executive Officer	Sell	33K	$28.48	$933K	1M	Oct 12Filing ↗
-2.8% of their holdings Pre-planned sale (10b5-1) Also Director Filed 1 day after
Dana BoyleChief Accounting Officer	Sell	6K	$28.48	$168K	166K	Oct 12Filing ↗
-3.4% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Jason AdairChief Business Officer	Sell	7K	$28.48	$208K	178K	Oct 12Filing ↗
-3.9% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Stephen M BlochDirector	Sell	235K	$27.13	$6.4M	0	Oct 5Filing ↗
Sold entire stake Held See footnote Not a pre-planned sale Filed 2 days after