---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-058234"
form_type: "8-K"
ticker: "LQDA"
cik: "0001819576"
company_name: "Liquidia Corp"
filed_at: "2026-05-11T23:59:59+00:00"
generated_at: "2026-05-14T18:54:11.488486+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Liquidia Q1 2026 net income $53M vs $38M loss YoY; YUTREPIA sales $130M

## Summary
- YUTREPIA net product sales $129.9M in Q1 2026; over 4,500 prescriptions, ~3,750 patients treated since June 2025 launch.
- Net income $52.9M ($0.60 basic, $0.52 diluted) vs net loss $38.4M ($0.45 loss) in Q1 2025 – third consecutive profitable quarter.
- Adjusted EBITDA $71.2M; cash & equivalents $222.8M, up $32.1M from Q4 2025.
- R&D expenses $12.6M (+$5.6M YoY) driven by L606 and YUTREPIA clinical programs.
- Screening PH-ILD patients for Phase 4 Tyvaso transition study and pivotal Phase 3 Re-Spire study of L606.

## SEC filing metadata
- accession: 0001104659-26-058234
- form_type: 8-K
- ticker: LQDA
- cik: 0001819576
- company_name: Liquidia Corp
- filed_at: 2026-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819576/000110465926058234/0001104659-26-058234-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819576/000110465926058234/tm2614109d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-058234
- JSON: https://secwatch.observer/filing/0001104659-26-058234.json
- Plain text: https://secwatch.observer/filing/0001104659-26-058234.txt

## Source-grounded claims
- claim_id: a4c06057126af08b2a14bfac77459390e7a1bfdc
  claim: Liquidia Corp reported first quarter ended March 31, 2026 results: revenue $129.9 million, net income $52.9 million, EPS $0.60 per basic and $0.52 per diluted share.
  evidence_excerpt: First Quarter 2026 Financial Results YUTREPIA sales led to the company’s third consecutive quarter of profitability with net income of $52.9 million and positive non-GAAP adjusted EBITDA of $71.2 million in the first quarter of 2026. Cash and cash equivalents totaled $222.8 million as of March 31, 2026, compared to $190.7 million as of December 31, 2025. Product sales, net, were $129.9 million for the three months ended March 31, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819576/000110465926058234/0001104659-26-058234-index.htm

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