---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-023794"
form_type: "8-K"
ticker: "LQDA"
cik: "0001819576"
company_name: "Liquidia Corp"
filed_at: "2026-03-05T23:59:59+00:00"
generated_at: "2026-05-15T19:49:53.763720+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-023794
- form_type: 8-K
- ticker: LQDA
- cik: 0001819576
- company_name: Liquidia Corp
- filed_at: 2026-03-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819576/000110465926023794/0001104659-26-023794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819576/000110465926023794/tm267579d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-023794
- JSON: https://secwatch.observer/filing/0001104659-26-023794.json
- Plain text: https://secwatch.observer/filing/0001104659-26-023794.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.