Liquidia Corporation (LQDA) Revenue History
Annual and quarterly revenue from 2016 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
LQDA Revenue Growth
Revenue Breakdown (FY 2020)
LQDA's revenue distribution by segment and geography for fiscal year 2020
By Product/Segment
LQDA Revenue Analysis (2016–2024)
As of May 7, 2026, Liquidia Corporation (LQDA) generated trailing twelve-month (TTM) revenue of $69.2 million, reflecting explosive growth of +1121.7% year-over-year. The most recent quarter (Q3 2025) recorded $54.3 million in revenue, up 514.9% sequentially.
Looking at the longer-term picture, LQDA's 5-year compound annual growth rate (CAGR) stands at +11.6%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $17.5 million in 2023.
Revenue diversification analysis shows LQDA's business is primarily driven by Promotion Agreement (100%), and Research and Development Services (0%). With over half of revenue concentrated in Promotion Agreement, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including UTHR (+5.9% YoY), MNKD (+21.2% YoY), and INVA (+13.6% YoY), LQDA has outperformed the peer group in terms of revenue growth. Compare LQDA vs UTHR →
LQDA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| LQDACurrent | $69M | +1121.7% | +11.6% | -866.6% | |
 UTHR | $3.2B | +5.9% | +16.5% | 46.9% | |
 MNKD | $349M | +21.2% | +39.9% | 11.1% | |
 INVA | $425M | +13.6% | +4.8% | 38.5% | |
 INSM | $606M | +30.3% | +29.8% | -205.6% |
LQDA Historical Revenue Data (2016–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $14.0M | -20.0% | $8.1M | 58.0% | $-121,294,000 | -866.6% |
| 2023 | $17.5M | +9.7% | $14.6M | 83.5% | $-73,384,000 | -419.6% |
| 2022 | $15.9M | +24.0% | $13.1M | 82.1% | $-38,770,000 | -243.3% |
| 2021 | $12.9M | +1637.8% | $9.8M | 76.5% | $-33,797,000 | -263.0% |
| 2020 | $740K | -90.8% | $502K | 67.9% | $-59,089,130 | -7989.0% |
| 2019 | $8.1M | +198.2% | $7.3M | 90.0% | $-46,823,549 | -580.1% |
| 2018 | $2.7M | -62.7% | $2.6M | 95.5% | $-34,868,074 | -1288.1% |
| 2017 | $7.3M | -45.1% | $6.9M | 95.6% | $-28,028,286 | -386.2% |
| 2016 | $13.2M | - | $12.3M | 93.0% | $-15,862,803 | -120.0% |
See LQDA's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs LQDA Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare LQDA vs DBVT
Side-by-side business, growth, and profitability comparison vs DBV Technologies S.A..
Start ComparisonLQDA — Frequently Asked Questions
Quick answers to the most common questions about buying LQDA stock.
Is LQDA's revenue growth accelerating or slowing?
LQDA revenue is accelerating at +1121.7% year-over-year, exceeding the 5-year CAGR of +11.6%. TTM revenue reached $69M. Growth momentum has increased versus prior periods.
What is LQDA's long-term revenue growth rate?
Liquidia Corporation's 5-year revenue CAGR of +11.6% reflects the sustained expansion pattern. Current YoY growth of +1121.7% is above this long-term average.
How is LQDA's revenue distributed by segment?
LQDA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2016-2024 are available for download. Segment mix reveals concentration and diversification trends.