Liquidia (LQDA) Gross Margin (2020 - 2026)
Liquidia (LQDA) recorded quarterly Gross Margin of 91.66% in Q1 2026, down 1.57% quarter-over-quarter from 93.13% in Q4 2025, and up 4028.0% on a YoY basis from 2.22% in Q1 2025.
Liquidia (LQDA) Gross Margin (2020 - 2026) Analysis & Trends
Liquidia's Gross Margin history runs 7 years deep, the most recent figure standing at 91.66% for Q1 2026.
- In Q1 2026, Gross Margin rose 4028.0% year-over-year to 91.66%; the TTM figure through Mar 2026 stood at 93.58% (up 3550.0% YoY), while the FY2025 annual figure was 94.43%, up 3643.0% from the prior year.
- Gross Margin was 91.66% for Q1 2026 at Liquidia, down from 93.13% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 98.38% in Q3 2025 to a low of 50.64% in Q1 2024.
- Historically, Gross Margin has averaged 77.62% across 5 years, with a median of 81.34% in 2022.
- The sharpest annual moves came in 2024 and 2026: Gross Margin sank 3480 bps in 2024, then soared 4028 bps in 2026.
- A 5-year view of Gross Margin shows it stood at 87.05% in 2022, then decreased by 10 bps to 78.08% in 2023, then slumped by 31 bps to 53.58% in 2024, then surged by 74 bps to 93.13% in 2025, then decreased by 2 bps to 91.66% in 2026.
- The last three Gross Margin figures came in at 91.66% (Q1 2026), 93.13% (Q4 2025), and 98.38% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Teva Pharmaceutical Industries | 38.77 Bn | 35.04 Bn | 1.97 Bn | 49.52% |
| 2 | Zoetis | 34.11 Bn | 32.16 Bn | 1.62 Bn | 71.66% |
| 3 | United Therapeutics | 23.68 Bn | 21.53 Bn | 648.10 Mn | 82.93% |
| 4 | Aurora Cannabis | 16.48 Bn | 16.40 Bn | 33.43 Mn | 49.50% |
| 5 | Neurocrine Biosciences | 16.19 Bn | 14.88 Bn | 800.70 Mn | 98.31% |
| 6 | Elanco Animal Health | 11.44 Bn | 11.01 Bn | 785.00 Mn | 57.26% |
| 7 | Alkermes | 7.28 Bn | 6.77 Bn | -116.06 Mn | -293.83% |
| 8 | Lantheus Holdings | 6.48 Bn | 5.98 Bn | 230.92 Mn | 61.20% |
| 9 | Hims & Hers Health | 6.35 Bn | 5.60 Bn | 396.79 Mn | 65.25% |
| 10 | Liquidia | 5.74 Bn | 5.52 Bn | 121.79 Mn | 91.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 91.66% |
| Dec 31, 2025 | 93.13% |
| Sep 30, 2025 | 98.38% |
| Jun 30, 2025 | 97.68% |
| Mar 31, 2025 | 51.38% |
| Dec 31, 2024 | 53.58% |
| Sep 30, 2024 | 64.82% |
| Jun 30, 2024 | 59.20% |
| Mar 31, 2024 | 50.64% |
| Dec 31, 2023 | 78.08% |
| Sep 30, 2023 | 84.50% |
| Jun 30, 2023 | 85.98% |
| Mar 31, 2023 | 85.44% |
| Dec 31, 2022 | 87.05% |
| Sep 30, 2022 | 76.62% |
| Jun 30, 2022 | 81.34% |
| Mar 31, 2022 | 80.13% |
| Dec 31, 2021 | 77.42% |
| Sep 30, 2021 | 72.00% |
| Jun 30, 2021 | 78.85% |