Liquidia (LQDA) Research & Development (2020 - 2026)

Liquidia's Research & Development history runs 7 years deep, the most recent figure standing at $12.6 million for Q1 2026.

• In Q1 2026, Research & Development rose 80.46% year-over-year to $12.6 million; the TTM figure through Mar 2026 stood at $44.9 million (changed 0.29% YoY), while the FY2025 annual figure was $39.3 million, down 17.9% from the prior year.
• Research & Development was $12.6 million for Q1 2026 at Liquidia, down from $16.9 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of $17.7 million in Q2 2023 to a low of $4.5 million in Q3 2022.
• Historically, Research & Development has averaged $9.6 million across 5 years, with a median of $9.3 million in 2025.
• The sharpest annual moves came in 2023 and 2024: Research & Development soared 239.05% in 2023, then sank 46.76% in 2024.
• A 5-year view of Research & Development shows it stood at $5.0 million in 2022, then soared by 157.82% to $12.8 million in 2023, then gained by 28.42% to $16.5 million in 2024, then gained by 2.84% to $16.9 million in 2025, then retreated by 25.8% to $12.6 million in 2026.
• The last three Research & Development figures came in at $12.6 million (Q1 2026), $16.9 million (Q4 2025), and $9.3 million (Q3 2025), per Business Quant data.