Liquidia Corporation · NASDAQ:LQDA
Liquidia — Q3 2025 Earnings Presentation
9 slides from Liquidia's earnings presentation, Nov 3, 2025
Slide 1: 3Q2025 Earnings & Corporate Update
Liquidia Corporation 3Q2025 Earnings & Corporate Update November 3, 2025 ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED
Slide 2: Forward-looking statements
Forward-looking statements This presentation includes, and our response to questions may include, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). All statements contained in this presentation other than statements of historical facts,
Slide 3: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information This presentation includes U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The section titled “Reconciliation of Non-GAAP Financial Information” in this presentation provides reconciliations to the most directly comparable G
Slide 4: Rapid adoption over last 5 months
Rapid adoption over last 5 months! As of October 30, 2025 PH centers and community practices >600 >2,000 >1,500 Through 3Q, physicians unique patients 85% of Rx’s convert prescribing patient started on to new starts YUTREPIA prescriptions YUTREPIA ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED 4
Slide 5: Broad use of YUTREPIA across indications
Broad use of YUTREPIA across indications PAH has accounted for a majority of our total prescriptions, with the usage in PH-ILD growing steadily ~10% ~3 out of 4 patients ~1 in 4 are transitioning of PAH Rxs represent starting YUTREPIA are from other prostacyclin switches from oral therapies with new
Slide 6: Focused on driving profitability and reinvesting in R&D
Focused on driving profitability and reinvesting in R&D Consolidated Statements Ending cash and $157.5M cash equivalents for 3Q 2025 of Operations in $ thousands Three Months Ended 9/30/25 9/30/24 Product sales, net 51,669 – Service revenue, net 2,673 4,448 Total revenue 54,342 4,448 Cost of product
Slide 7: Drivers of future value for Liquidia's programs
Drivers of future value for Liquidia’s programs Portfolio built on optimizing inhaled delivery Exposure Tolerability Convenience drives drives drives Efficacy Durability Compliance ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED 7
Slide 8: Q&A session
Q&A session Dr. Roger Jeffs Scott Moomaw Chief Executive Officer Chief Commercial Officer Michael Kaseta Rajeev Saggar COO & CFO Chief Medical Officer Russell Schundler General Counsel ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED 8
Slide 9: Reconciliation of Non-GAAP Financial Information
Reconciliation of Non-GAAP Financial Information Reconciliation of Net Loss to Adjusted EBITDA (unaudited) (in thousands) Three Months Non-GAAP basis adjusted EBITDA Ended 9/30/25 Net loss $(3,533) Interest expense, net 5,300 Income tax expense – Depreciation and amortization 476 EBITDA $2,243 Stock