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LIQT

LiqTech International, Inc.

LIQT

LiqTech International, Inc. • NASDAQ
$1.88 ▼ -2.59% (-0.05)
Market Cap $18.10 M
52w High $3.35
52w Low $1.34
Dividend Yield 0%
P/E -1.88
Volume 1.08K
Outstanding Shares 9.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.807M ▼ $2.081M ▼ $-1.432M ▲ -37.61% ▲ $-0.15 ▲ $-828.172K ▲
Q2-2025 $4.957M ▲ $2.594M ▲ $-2.152M ▲ -43.407% ▲ $-0.22 ▲ $-1.408M ▲
Q1-2025 $4.618M ▲ $2.31M ▲ $-2.351M ▲ -50.923% ▲ $-0.24 ▲ $-1.566M ▲
Q4-2024 $3.406M ▲ $2.237M ▼ $-3.005M ▼ -88.219% ▲ $-0.39 ▲ $-2.138M ▼
Q3-2024 $2.478M $2.38M $-2.841M -114.62% $-0.49 $-1.936M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.354M ▼ $30.296M ▼ $17.519M ▼ $12.808M ▼
Q2-2025 $8.673M ▼ $31.721M ▼ $17.791M ▲ $13.933M ▼
Q1-2025 $10.447M ▼ $32.571M ▲ $17.505M ▲ $15.059M ▼
Q4-2024 $10.869M ▲ $32.427M ▲ $15.773M ▼ $16.654M ▲
Q3-2024 $4.535M $28.725M $17.304M $11.421M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.432M ▲ $-1.069M ▲ $-118.289K ▼ $-76.437K ▲ $-1.319M ▲ $-1.196M ▲
Q2-2025 $-2.161M ▲ $-1.611M ▼ $62.975K ▲ $-133.226K ▼ $-1.774M ▼ $-1.55M ▼
Q1-2025 $-2.358M ▲ $-1.297M ▲ $-110.86K ▲ $989.722K ▼ $-421.297K ▼ $-1.461M ▲
Q4-2024 $-3.005M ▼ $-2.006M ▼ $-395.269K ▼ $8.619M ▲ $6.333M ▲ $-2.396M ▼
Q3-2024 $-2.841M $-1.749M $-361.938K $989.435K $-954.51K $-2.114M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Ceramics Segment
Ceramics Segment
 $0 ▲$0 ▲$0 ▲$0 ▲
Plastics Segment
Plastics Segment
 $0 ▲$0 ▲$0 ▲$0 ▲
Water Segment
Water Segment
 $0 ▲$0 ▲$0 ▲$0 ▲
Corporate Segment
Corporate Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement LiqTech’s income statement looks like that of a very small, still‑developing industrial company. Revenue has stayed very low and fairly flat for several years, so the business has not yet shown clear scaling. The company has reported operating losses and net losses every year in the recent period, which means the core business is not yet covering its costs. Per‑share losses look large and volatile, partly because of reverse stock splits, but the underlying picture is simple: interesting technology, but not yet a profitable, mature business on the income side.

Balance Sheet

Balance Sheet The balance sheet is lean and modest in size, reflecting a small company. Assets and equity are limited, and repeated losses have constrained the buildup of net worth. There is some debt but not an overwhelming amount, so the main concern is not heavy leverage but rather the overall thin capital base. Cash is present but not abundant, which limits room for prolonged losses or aggressive expansion without new funding. Overall, the balance sheet provides only a modest cushion against setbacks and leaves the company sensitive to execution and financing risks.

Cash Flow

Cash Flow Cash flow mirrors the income statement: the business has not yet become clearly self‑funding. Operating cash flow hovers around break‑even to mildly negative, which signals that even day‑to‑day operations still rely somewhat on outside capital or existing cash reserves. Free cash flow has been consistently negative, though not dramatically so, with very light spending on physical assets. That suggests an asset‑light, project‑oriented model but also hints that growth and R&D must be carefully balanced with limited cash. Continued access to capital markets or new financing remains important if losses persist or growth ambitions increase.

Competitive Edge

Competitive Edge Competitively, LiqTech stands out more than its financials suggest. Its focus on silicon carbide ceramic membranes gives it a specialized position in harsh‑environment filtration and pollution control, where durability and performance matter more than lowest price. The company’s strategy of selling full, customized systems rather than just components strengthens relationships and can make customers more “sticky.” It also operates in areas supported by long‑term environmental and regulatory trends, such as marine scrubber water treatment and industrial wastewater. However, LiqTech is very small compared with major filtration and water‑treatment players, which means limited scale, brand reach, and bargaining power. Its niche technology and know‑how are strengths, but the market is competitive and dominated by large, well‑funded rivals.

Innovation and R&D

Innovation and R&D Innovation is the heart of LiqTech’s story. Its silicon carbide membrane technology offers clear technical advantages—durability, chemical and heat resistance, and strong performance in dirty, oily, or corrosive environments. The newer hybrid membrane platform broadens this into finer, more selective filtration, opening doors to higher‑value applications. The company is actively exploring emerging areas tied to the energy transition and tightening environmental rules, such as green hydrogen water treatment, potential carbon‑capture roles, and solutions for new contaminants. It also works with partners in industry and academia, which can accelerate development. The flip side is that significant R&D spending must be supported by a small and still‑unprofitable revenue base, so the key question is how quickly and reliably these innovations can be scaled into stable, margin‑accretive business.

Summary

LiqTech is a classic “technology‑rich, financially early‑stage” industrial cleantech company. On paper, its filtration technology and system expertise offer a compelling fit with growing global needs for cleaner water, lower emissions, and tougher environmental compliance. In practice, the financial track record so far shows a small revenue base, recurring losses, a thin balance sheet, and ongoing negative free cash flow—conditions that leave the company reliant on continued operational improvement and access to external capital. The main opportunity lies in converting its technical edge and regulatory tailwinds into sustained growth and better margins. The main risks center on scale‑up execution, competitive pressure from much larger players, and the company’s limited financial buffer if commercialization takes longer or proves more costly than expected.

NEWS

November 13, 2025 · 8:00 AM UTC

LiqTech International Announces Third Quarter 2025 Financial Results

Read more