LiqTech International Inc (LIQT)
NASDAQ:LIQT
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LiqTech International
(NASDAQ:LIQT)
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Rating:47Neutral
Price Target:
$1.50
▼(-31.51% Downside)
Action:ReiteratedDate:03/26/26
The score is primarily held down by weak financial performance (ongoing losses, negative free cash flow, and weakening equity) and a bearish technical trend (price below all major moving averages with negative MACD). Offsetting factors include a more optimistic 2026 outlook from the earnings call (higher revenue guidance and potential positive adjusted EBITDA) and a modestly supportive corporate governance event (adding an experienced finance director).
Positive Factors
Systems revenue momentum & 2026 guidance
Management's explicit 2026 target materially increases systems exposure (from $8.2M to $14M–$18M). Systems are higher-ticket with service potential; structurally shifting revenue mix toward systems and aftermarket supports steadier, higher contribution margins and recurring revenue as scale is reached.
Negative Factors
Persistent negative cash flow
Consistent operating and free cash outflows force dependence on external capital to fund growth. Over months this elevates refinancing and dilution risk, constrains discretionary investment, and can hinder the company's ability to execute backlog delivery without fresh funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Systems revenue momentum & 2026 guidance
Management's explicit 2026 target materially increases systems exposure (from $8.2M to $14M–$18M). Systems are higher-ticket with service potential; structurally shifting revenue mix toward systems and aftermarket supports steadier, higher contribution margins and recurring revenue as scale is reached.
Read all positive factors
LiqTech International (LIQT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.43M
Dividend YieldN/A
Average Volume (3M)12.39K
Price to Earnings (P/E)―
Beta (1Y)1.26
Revenue Growth10.97%
EPS Growth44.99%
CountryUS
Employees105
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)-0.27
Shares Outstanding9,947,841
10 Day Avg. Volume5,362
30 Day Avg. Volume12,386
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.35
Price to Sales (P/S)0.85
P/FCF Ratio-2.16
Enterprise Value/Market Cap2.10
Enterprise Value/Revenue1.70
Enterprise Value/Gross Profit22.50
Enterprise Value/Ebitda-5.48
Forecast
1Y Price Target
$4.30Price Target Upside96.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.56
Revenue Forecast (FY)$21.90M
LiqTech International Business Overview & Revenue Model
Company Description
LiqTech International (LIQT) is a leading provider of advanced filtration technologies and solutions, primarily focusing on the production of membranes and systems for water treatment and air filtration. The company operates within the environment...
How the Company Makes Money
LiqTech makes money primarily by selling filtration products and engineered filtration systems that incorporate its silicon carbide ceramic membranes. Key revenue streams include: (1) product revenue from the sale of SiC membranes, filter elements...
LiqTech International Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The call conveyed clear progress: revenue growth (+13%), strong systems momentum (systems +49%), record pool sales, improved gross margins (1.7% to 7.6%), a narrower adjusted EBITDA loss, concrete operational investments (US service center, China marine R&D/warehouse), and an upbeat 2026 revenue and profitability guide ($23M–$27M with positive adjusted EBITDA). Key risks remain: delays on a large oil & gas order that impacted 2025 results, a notable decline in DPF/membrane sales, tariff uncertainty, still-negative 2025 adjusted EBITDA, and the need to secure financing to fully support 2026 scaling. Overall, highlights around standardized, higher-margin system growth and validated industrial/marine proof points outweigh the lowlights tied to timing and near-term financial strain, positioning the company as cautiously optimistic heading into 2026.Positive Updates
Revenue Growth YoY
Full-year 2025 revenue ~ $16.5M, up 13% from $14.6M in 2024, driven by stronger systems and aftermarket deliveries.
Negative Updates
Delayed Large Oil & Gas Order Impacting 2025 Results
Company missed revenue guidance by a small margin primarily due to continued delays with a large OEM oil & gas order that remains in the pipeline; timing of such large projects is unpredictable and pushed expected revenue into 2026 (management hoped for Q2 finalization).
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth YoY
Full-year 2025 revenue ~ $16.5M, up 13% from $14.6M in 2024, driven by stronger systems and aftermarket deliveries.
Read all positive updates
Company Guidance
The company guided 2026 revenue of $23.0M–$27.0M (vs. ~$16.5M in 2025) with systems revenue targeted at $14M–$18M (up from $8.2M in 2025, a ~70%–120% increase), driven by pool systems of $5M–$6M (vs. $2.6M in 2025; 34 pool systems shipped in 2025, 24 delivered and 10 scheduled for early 2026), water-for-energy and water-for-industry of $5M–$8M (vs. $4.1M in 2025), and marine of about $4M (vs. $1.5M in 2025; three orders for eight vessels in backlog, with ~60% new systems and 40% recurring service); legacy DPF/membrane and plastics revenue is expected to be ~ $9M (vs. ~$8M in 2025). Management expects positive full‑year 2026 adjusted EBITDA assuming constant currency (particularly if revenue reaches the mid‑to‑high end of guidance), notes typical contribution margins near ~40% (2025 gross margin improved to 7.6% from 1.7% in 2024), and ended the period with £5.1M cash.LiqTech International Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
45
Neutral
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 16.51M | 14.60M | 18.00M | 15.98M | 18.27M |
| Gross Profit | 1.25M | 250.91K | 2.78M | 567.14K | 1.58M |
| EBITDA | -5.99M | -7.48M | -5.48M | -11.40M | -7.74M |
| Net Income | -8.53M | -10.35M | -8.57M | -14.17M | -11.13M |
Balance Sheet | |||||
| Total Assets | 27.28M | 32.43M | 35.97M | 40.13M | 45.05M |
| Cash, Cash Equivalents and Short-Term Investments | 5.07M | 10.87M | 9.48M | 15.16M | 15.36M |
| Total Debt | 17.28M | 11.81M | 12.22M | 11.54M | 24.46M |
| Total Liabilities | 16.91M | 15.77M | 18.70M | 16.82M | 32.28M |
| Stockholders Equity | 10.43M | 16.65M | 17.28M | 23.31M | 12.77M |
Cash Flow | |||||
| Free Cash Flow | -6.50M | -8.90M | -7.08M | -13.73M | -8.34M |
| Operating Cash Flow | -6.11M | -7.53M | -4.18M | -12.04M | -7.20M |
| Investing Cash Flow | -217.93K | -424.04K | -2.89M | -1.69M | -1.45M |
| Financing Cash Flow | 719.29K | 8.49M | 580.64K | 13.70M | 13.90M |
LiqTech International Technical Analysis
Negative
2.19
Price Trends
1.65
Negative
1.78
Negative
1.96
Negative
Market Momentum
-0.04
Negative
39.12
Neutral
50.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LIQT, the sentiment is Negative. The current price of 2.19 is above the 20-day moving average (MA) of 1.55, above the 50-day MA of 1.65, and above the 200-day MA of 1.96, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 39.12 is Neutral, neither overbought nor oversold. The STOCH value of 50.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LIQT.
LiqTech International Risk Analysis
LiqTech International disclosed 38 risk factors in its most recent earnings report. LiqTech International reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LiqTech International Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $8.91M | -16.89 | 3.61% | ― | -14.25% | -59.84% | |
56 Neutral | $39.00M | -20.77 | -5.70% | ― | -5.66% | -397.46% | |
48 Neutral | $19.31M | -7.52 | -56.07% | ― | -49.70% | -2.72% | |
48 Neutral | $59.24M | -2.39 | -160.16% | ― | ― | ― | |
47 Neutral | $13.43M | -1.35 | -73.79% | ― | 10.97% | 44.99% | |
43 Neutral | $13.55M | -11.26 | -108.76% | ― | -30.61% | -111.40% |
* Industrials Sector Average
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LiqTech International Corporate Events
Business Operations and StrategyExecutive/Board Changes
LiqTech International Adds Veteran Finance Leader to Board
Positive
Feb 18, 2026
On February 11, 2026, LiqTech International’s board expanded from five to six members and appointed veteran finance executive Robert “Bob” Wowk as an independent director, with his board, audit committee, and compensation committ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.