Liquidia posts Q4 net income $14.6M; YUTREPIA sales $90.1M in Q4, $148.3M FY2025

Liquidia Corp

Q4 net income $14.6M, positive non-GAAP adjusted EBITDA $27.3M; FY net loss $68.9M vs $128.3M in 2024.
YUTREPIA net product sales $148.3M in FY2025 ($90.1M Q4) since launch in June 2025; no product revenue in 2024.
Cash and equivalents $190.7M at Dec 31, 2025, up from $176.5M at Dec 31, 2024.
Over 3,600 prescriptions and 2,900 patients started since launch; prescribers ~860, 25% have referred 5+ patients.

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