What move does the options market price into Liquidia's report?

Implied ±8.0%, either direction.

How often does Liquidia move more than the options market prices?

2 of the last 8 reports moved at least as far as the implied move.

LQDANasdaqPharmaceutical Preparations

Liquidia Corp (LQDA) earnings date, market-implied expected move, and options open interest by expiry

48.74

+6.54 · +15.51%

Regular session12:25 ET

Open41.80Volume2.6MMkt cap$4.2BP/E30.85EPS1.58

Day41.80 – 48.8199%52-wk22.21 – 93.6137%

LQDA

Liquidia Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±8.0%implied · report alone

8Q avg ±7.4%·×1.07·fair

38.8445.56

straddle ±11.3%

spot 42.20exp Nov 13ATM strike 42ATM straddle 5.60IV 100%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 9

before open · in 5 days

est.Q3 FY26

Calendar

Next report

Last report

−10.52%

vs ±11.9% implied · ×0.89

shaded = implied · ▲▼ = realized

Aug 12 '26 · confirmed

Implied vs realized

Linked news

2dGSK · supplierGSK total voting rights 4,045,439,182
47dICUI · supplierICU Medical CFO Sells 6,381 Shares for $1.1 Million

News

Largest filed tie

13F top-10 QoQ

+27.62%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

340 managers

Top fund weight

0.17%

LQDA weight · IWM

N-PORTJun 30 '26

3 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Liquidia (LQDA) is expected to report on Nov 9 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±13.2%
avg realized: ±7.4%

Nov 13 '24Nov 13 '24confirmed±7.0%▼−3.39%×0.49

Mar 19 '25Mar 19 '25confirmed±10.5%▲+1.22%×0.12

May 8 '25May 8 '25confirmed±9.6%▼−1.16%×0.12

Aug 12 '25Aug 12 '25confirmed±10.0%▲+13.68%×1.36

Q3 FY25Nov 3 '25confirmed±30.8%▲+3.53%×0.11

Q1 FY26Mar 5 '26confirmed±13.8%▲+0.41%×0.03

May 11 '26May 11 '26confirmed±12.0%▲+25.60%×2.13

Q2 FY26Aug 12 '26confirmed±11.9%▼−10.52%×0.89

quarterimplied−35%0+35%realized×

Q2 FY26±11.9%▼−10.52%×0.89

May '26±12.0%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 10 expiries · Nov 3 close

1.04OI · 10 expiries · Nov 3 closeP/C open interest · Nov 13 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

2,545+101%Nov 62d0.693,677+42%0.69

report · Nov 9 · before open · est.

603+2%Nov 139d579+15%

14,805+4%Nov 2016d1.768,415+3%1.76

6970%Nov 2723d2.49280+10%2.49

6 later expiries

6+50%Dec 430d0.05124+1%0.05

0—Dec 1137d0.00

ExpiryPutsCallsP/C

Nov 62d2,545+101%3,677+42%0.69

report · Nov 9 · before open · est.

Nov 139d603+2%579+15%1.04

Nov 2016d14,805+4%

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±11.3%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

43.52%as filednet margin · revenue +29.21% QoQ · +1842.73% YoY

Revenue

$172M+29.21% QoQ

Gross profit

$160M+32.32% QoQ

93.27% margin

Operating income

$86M+39.04% QoQ

49.81% margin

Pre-tax income

$82M+43.88% QoQ

Net income

$75M+41.35% QoQ

43.52% margin

Cost of revenue

$12M−2.55% QoQ

Operating expenses

$75M+25.38% QoQ

SG&A $57M

R&D $17M

Other expense

$4M

Tax

$7M+77.93% QoQ

Revenue$172M+29.21%

Gross profit

$160M+32.32%

93.27% margin

Operating income

$86M+39.04%

49.81% margin

Pre-tax income

$82M+43.88%

Net income

$75M+41.35%

43.52% margin

Cost of revenue

$12M−2.55%

Operating expenses

$75M+25.38%

SG&A $57M

R&D $17M

Other expense

$4M

Tax$7M+77.93%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 12:15 ET

Intraday

Event sensitivity

CPROF ×2.57· ±7.4% vs ±2.9% · 12 releases

eventrelease day|move|up · n×base

CPROFcorporate profits±7.4%8 of 12×2.57

GDPgross domestic product±5.2%10 of 19×1.80

PCEpersonal income & outlays±4.7%10 of 19×1.63

CPIconsumer prices±4.0%4 of 10×1.41

PPIproducer prices±3.2%5 of 10×1.11

NFPjobs report±2.6%7 of 10×0.92

FOMCrate decision±1.9%12 of 24×0.65

Bar = avg |move| to ±8% · tick = ±2.9% avg day · ×base = |move| ÷ ±2.9% · min 6 releases

Earnings history

EPS 0.74 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 12 '26 · confirmed	0.74	—
Q1 FY26	Mar 5 '26 · confirmed	0.52	—
Q3 FY25	Nov 3 '25 · confirmed	-0.04	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod