Liquidia annual r&d spending
2019
2020
2021
2022
2023
2024
2025
Liquidia R&D Spending Growth & History (LQDA)
Liquidia's r&d spending was $39.3M for fiscal 2025.
View full Liquidia company overviewLiquidia annual r&d spending history
| Fiscal year | Period ended | R&D spending | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $39.3M | −$8.6M | −17.90% |
| 2024 | 2024-12-31 | $47.8M | $4.6M | +10.64% |
| 2023 | 2023-12-31 | $43.2M | $23.8M | +122.50% |
| 2022 | 2022-12-31 | $19.4M | −$1.1M | −5.27% |
| 2021 | 2021-12-31 | $20.5M | −$11.7M | −36.33% |
| 2020 | 2020-12-31 | $32.2M | −$8.3M | −20.42% |
| 2019 | 2019-12-31 | $40.5M | — | — |
Liquidia quarterly r&d spending
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | R&D spending | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $17.2M | $11.2M | +185.40% |
| Q1 2026 | 2026-03-31 | $12.6M | $5.6M | +80.46% |
| Q4 2025 | 2025-12-31 | $16.9M | $468,000 | +2.84% |
| Q3 2025 | 2025-09-30 | $9.3M | −$2.5M | −21.40% |
| Q2 2025 | 2025-06-30 | $6.0M | −$3.4M | −36.08% |
| Q1 2025 | 2025-03-31 | $7.0M | −$3.1M | −30.73% |
| Q4 2024 | 2024-12-31 | $16.5M | $3.6M | +28.42% |
| Q3 2024 | 2024-09-30 | $11.9M | $4.5M | +59.81% |
| Q2 2024 | 2024-06-30 | $9.4M | −$8.3M | −46.76% |
| Q1 2024 | 2024-03-31 | $10.1M | $4.8M | +90.55% |
| Q4 2023 | 2023-12-31 | $12.8M | $7.9M | +157.82% |
| Q3 2023 | 2023-09-30 | $7.4M | $2.9M | +64.89% |
| Q2 2023 | 2023-06-30 | $17.7M | $12.5M | +239.05% |
| Q1 2023 | 2023-03-31 | $5.3M | $550,000 | +11.63% |
| Q4 2022 | 2022-12-31 | $5.0M | −$405,000 | −7.53% |
| Q3 2022 | 2022-09-30 | $4.5M | $25,000 | +0.56% |
| Q2 2022 | 2022-06-30 | $5.2M | $624,000 | +13.58% |
| Q1 2022 | 2022-03-31 | $4.7M | −$1.3M | −21.90% |
| Q4 2021 | 2021-12-31 | $5.4M | $132,928 | +2.53% |
| Q3 2021 | 2021-09-30 | $4.5M | −$3.2M | −41.43% |
| Q2 2021 | 2021-06-30 | $4.6M | −$3.9M | −45.88% |
| Q1 2021 | 2021-03-31 | $6.1M | −$4.8M | −44.06% |
| Q4 2020 | 2020-12-31 | $5.2M | — | — |
| Q3 2020 | 2020-09-30 | $7.7M | — | — |
| Q2 2020 | 2020-06-30 | $8.5M | — | — |
| Q1 2020 | 2020-03-31 | $10.8M | — | — |
Liquidia r&d spending trends
Over the last five fiscal years, Liquidia's r&d spending increased from $32.2M to $39.3M, a change of $7.1M. The latest reported quarter, Q2 2026, shows $17.2M.
About the metric
What research and development spending means
Research and development (R&D) spending covers the costs of creating and improving products, services, software, technologies, and processes. Higher R&D spending may support future innovation, but the amount alone does not show whether those investments will generate returns.
Calculation and source
SEC-reported R&D expense
TickerStat standardizes research and development expense reported in company SEC filings, including the software-specific US-GAAP R&D concept when it is the filer’s primary R&D expense line. It is historical company-reported spending, not an estimate or forecast. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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