LIQUIDIA CORPORATION
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $74.7M | $52.9M | $-3.5M | $-41.6M | $-38.4M | $-38.5M | $-31.0M | $-28.7M |
| Depreciation & Amortization | $300.0K | $497.0K | $300.0K | $200.0K | $451.0K | — | $300.0K | $200.0K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | $100.0K | $100.0K | $100.0K | — | — | $100.0K | $100.0K |
| Stock-Based Compensation | — | $9.2M | — | — | $7.4M | — | — | — |
| Net Cash from Operating Activities | $80.2M | $53.0M | $-9.8M | $-39.5M | $-30.7M | — | $-25.1M | $-22.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $11.2M | $2.8M | $911.0K | $1.1M | $330.0K | — | $1.7M | $1.3M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | $-2.8M | — | — | $-330.0K | — | — | — |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | — | $-18.1M | — | — | $24.3M | — | — | — |
| Net Change in Cash | — | $32.1M | — | — | $-6.7M | — | — | — |
| Free Cash Flow | $69.0M | $50.2M | $-10.7M | $-40.5M | $-31.0M | — | $-26.8M | $-24.0M |