Why Liquidia (LQDA) Is Up 5.2% After Posting Substantial Q3 Revenue Growth and Reduced Losses

• Liquidia Corporation recently reported its third quarter 2025 earnings, revealing US$54.34 million in revenue and a net loss of US$3.53 million, compared to US$4.45 million in revenue and a net loss of US$31.03 million in the same quarter last year.
• This sharp increase in revenue and narrowing of net loss highlights a period of significant operational progress for the company.
• We’ll now explore how Liquidia’s substantial revenue growth shapes its broader investment narrative and prospects for operational improvement.

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What Is Liquidia's Investment Narrative?

For investors considering Liquidia, the central thesis has long focused on the commercial progress of YUTREPIA and the company's ability to shrink losses amid rapid revenue growth. The latest quarterly report, with US$54.34 million in revenue and a sharply reduced net loss, signals a meaningful step forward, likely shifting near-term attention from funding concerns and legal uncertainties toward how well new product adoption sustains this momentum. Prior to this, key near-term catalysts centered on market traction for YUTREPIA, potential outcomes from ongoing patent litigation, and the company’s ability to achieve profitability targets. With this strong revenue jump, most short-term catalysts become even more dependent on YUTREPIA's continued success, while the biggest risk, unresolved litigation, remains front and center. The news materially moves the needle and heightens the stakes around both growth and these pending legal decisions. In contrast, ongoing patent disputes could still weigh heavily on the outlook.

Liquidia's shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.

Exploring Other Perspectives

The Simply Wall St Community posted three individual fair value estimates for Liquidia, spanning a striking range from just US$2.17 to a high of just over US$202.50 per share. With such wide variation, it is clear market participants hold sharply different views about the company’s growth path, especially as recently strengthened YUTREPIA sales compete with unresolved litigation risks. Consider how your own outlook fits into this mix of perspectives.

Explore 3 other fair value estimates on Liquidia - why the stock might be worth less than half the current price!

Build Your Own Liquidia Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Liquidia research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Liquidia research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Liquidia's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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