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Liquidia (LQDA) Operating Expenses (2020 - 2025)

Liquidia has reported Operating Expenses over the past 6 years, most recently at $72.2 million for Q4 2025.

  • Quarterly results put Operating Expenses at $72.2 million for Q4 2025, up 85.1% from a year ago — trailing twelve months through Dec 2025 was $209.7 million (up 55.0% YoY), and the annual figure for FY2025 was $209.7 million, up 55.0%.
  • Operating Expenses for Q4 2025 was $72.2 million at Liquidia, up from $52.6 million in the prior quarter.
  • Over the last five years, Operating Expenses for LQDA hit a ceiling of $72.2 million in Q4 2025 and a floor of $9.7 million in Q2 2021.
  • Median Operating Expenses over the past 5 years was $23.1 million (2023), compared with a mean of $26.9 million.
  • Biggest five-year swings in Operating Expenses: tumbled 30.74% in 2021 and later surged 161.17% in 2023.
  • Liquidia's Operating Expenses stood at $14.6 million in 2021, then decreased by 18.66% to $11.9 million in 2022, then surged by 161.17% to $31.0 million in 2023, then increased by 26.02% to $39.0 million in 2024, then surged by 85.1% to $72.2 million in 2025.
  • The last three reported values for Operating Expenses were $72.2 million (Q4 2025), $52.6 million (Q3 2025), and $46.3 million (Q2 2025) per Business Quant data.