How did LQDA's Q3 2024 earnings surprise analysts?

**Liquidia's Q3 2024 earnings exceeded analysts' expectations in terms of revenue, but fell short in terms of EPS.**

1. **Revenue Surpassed Expectations**: Liquidia reported an actual revenue of $4.45 million for Q3 2024, surpassing the analyst estimate of $4.19 million. This indicates a positive performance in terms of business operations and market demand for their products.

2. **EPS Missed Analyst Estimates**: The company reported an actual EPS of -$0.3 for Q3 2024, which is worse than the estimated loss of -$0.23 per share. This suggests that analysts were expecting a lesser loss, and the company's performance in this regard was disappointing.
3. **Overall Performance Analysis**: While Liquidia's revenue performance was robust, the negative EPS indicates that the company incurred more losses than anticipated. This could be due to increased expenses, such as research and development costs, which rose by 60% to $11.9 million. This highlights the challenges Liquidia faces in managing costs alongside revenue growth.

In conclusion, Liquidia's Q3 2024 earnings show a mixed performance compared to analysts' expectations, with a notable upside in revenue offset by a wider-than-expected loss per share.