LiqTech International, Inc.
2.3500-0.03 (-1.26%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · LIQT · USD
Key Stats
Market Cap
22.59MP/E (TTM)
-Basic EPS (TTM)
-1.34Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
LiqTech's Q2 revenue climbed 10.5% y/y to $4.96M, driven by stronger water filtration systems and plastics sales, though diesel particulate filter deliveries dipped. Gross margins slipped to 9.8% from 16.0%, hit by manufacturing underutilization and inventory provisions, while operating expenses fell 7.5% on R&D cuts and bad debt releases. Net loss narrowed slightly to $2.16M, with EPS at -$0.22 versus -$0.36 last year, reconciling to 9.61M diluted shares. Cash stood at $8.67M after $2.91M operating burn, bolstered by a $1.08M related-party loan for the January 2025 China JV (90% owned, targeting marine water treatment with $1.1M R&D funding). Debt totals $5.34M net under senior notes extended to May 2027 at 10% interest. Yet tariffs on China and EU trade could squeeze future margins.
8-K
Equity plan shares increased
LiqTech International's stockholders approved an amendment to its 2022 Equity Incentive Plan at the June 5, 2025 annual meeting, boosting authorized shares by 1,500,000 to a total of 2,500,000. This enhances the company's flexibility for equity awards to attract talent. All five director nominees were elected, and auditors Sadler, Gibb & Associates were ratified with overwhelming support. Plan expansion signals growth ambitions.
10-Q
Q1 FY2025 results
LiqTech's revenue climbed 9.0% year-over-year to $4.6M for Q1 ended March 31, 2025, driven by stronger water segment sales ($2.7M, up from $1.5M) and plastics ($1.0M, up from $0.9M), though ceramics dipped to $0.9M from $1.8M amid temporary market waits for rate cuts; Europe and Americas each contributed over 48% of the total. Gross profit shrank 53.9% to $125K with margins slipping to 2.7% from 6.4%, hit by development costs on a major U.S. filtration system delivery and underused capacity, while operating loss widened 6.8% to $2.2M on higher selling expenses tied to the new China JV. Yet net loss narrowed 1.3% to $2.4M, or $(0.25) per diluted share on 9.6M shares—better than last year's $(0.41) on 5.8M—thanks to smaller disposal losses offsetting lower forex gains. Cash held steady at $10.4M after $1.3M operating burn, bolstered by $1.1M related-party loan for the January-formed Nantong JV (90% owned, targeting marine water treatment with $1.1M R&D funding at 12% interest, convertible at LiqTech's option); senior notes extended to May 2027 at 10% with warrants repriced to $2. Free cash flow turned negative at $(1.4M) (derived), but liquidity supports 12 months amid $5.3M debt. Tariffs and trade tensions loom as a key risk, potentially hiking costs or curbing China demand.
10-K
FY2024 results
LiqTech International's FY2024 revenue fell 18.9% y/y to $14.6M, driven by lower liquid filtration systems and plastics sales, though diesel particulate filters grew amid regulatory tailwinds. Gross margins compressed to 1.7% from 15.4%, reflecting underutilized capacity and a shift to lower-margin oil & gas pilots that secured a full-scale Q1 2025 order. Q4 momentum built through new distribution deals in the U.S., China, Greece, and South Korea, plus a China JV for marine scrubbers, while capex dropped 85% y/y to $424K on facility optimization. Cash rose to $10.9M after a $10M equity raise, funding $5.3M in debt extended to 2027. No 2025 guidance disclosed. Geopolitical tensions risk supply chain disruptions.
8-K
CFO appointment bolsters operations
LiqTech International appointed David Kowalczyk as CFO and COO effective March 1, 2025, bringing over 20 years of finance and operations expertise from roles at Novozymes, Hempel, and PwC to drive profitable growth. Interim CFO Phillip Massie Price steps down on the same date but stays until April 30 for transition, receiving DKK 700,000 severance plus a $25,000 bonus. Kowalczyk's DKK 2,000,000 base salary underscores the board's push for strategic financial leadership. Yet risks linger in forward-looking growth plans.
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