LiqTech reports Q3 EPS (15c) vs. (49c) last year

Reports Q3 revenue $3.8M vs. $2.5M last year. “We successfully executed during the quarter against our key strategic objectives resulting in 54% revenue growth, improvement in gross margins, reduction in operating expenses, and strong bookings,” commented Fei Chen, CEO of LiqTech (LIQT). “A key driver during the quarter was the strength within our water treatment systems business, led by our swimming pool operations which achieved their highest quarterly revenue to date and new bookings which indicates a continuation of this positive trend. The market is increasingly recognizing the unique attributes of our QlariFlow filtration system and the compelling alternative it offers to traditional media filtration systems used in commercial pools. More broadly, we are seeing increased interest in our systems from a wide variety of applications across the world, including water for energy, industrial applications, and the marine industry. We received the first commercial orders for marine dual-fuel engine water treatment systems through our JV in China, and are seeing increased inquiries from U.S. operators to support produced water and industrial filtration solutions. The increased order flow and interest is a direct result of the numerous successful pilot programs we have implemented over the past two years showing real world examples of our robust Silicon Carbide membrane technology designed to deliver consistent, high-quality filtration. With a strong order backlog heading into the fourth quarter, and a keen focus on operational efficiencies, we look forward to ending the year on a high note which continues to pave the way towards our goal of achieving positive adjusted EBITDA,” Chen concluded.