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LiqTech International Inc (LIQT)
NASDAQ:LIQT
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LiqTech International
(NASDAQ:LIQT)
Rating:49Neutral
Price Target:
$2.00
▲(3.09% Upside)
Positive Factors
Financial Position
$10.4 million in cash provides ample runway, enough to sustain operations through FY2026.
New Orders
LiqTech announced a large commercial order for its PureFlow mobile water filtration units for the North American Oil & Gas Market, marking progress in the company's efforts to unlock new geographies and verticals.
Sales Performance
Sales were up 36% from the prior quarter, indicating the company has likely passed the low point in quarterly sales.
Negative Factors
Risk Factors
Low visibility and potential dilution remain the biggest risks to the price target.
LiqTech International (LIQT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.70M
Dividend YieldN/A
Average Volume (3M)17.60K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth-12.76%
EPS Growth15.23%
CountryUS
Employees105
SectorIndustrials
Sector Strength79
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)-0.22
Shares Outstanding9,614,043
10 Day Avg. Volume22,745
30 Day Avg. Volume17,597
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue1.34
Enterprise Value/Gross Profit192.66
Enterprise Value/Ebitda-2.66
Forecast
1Y Price Target
$3.60Price Target Upside85.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
LiqTech International Business Overview & Revenue Model
Company DescriptionLiqTech International (LIQT) is a leading provider of advanced filtration and purification technologies focused on the water and air treatment sectors. The company specializes in developing and manufacturing ceramic membranes and other filtration solutions that are utilized in various industries, including marine, industrial, and environmental applications. LiqTech's innovative products help in reducing environmental impact by efficiently removing contaminants and improving water quality.
How the Company Makes MoneyLiqTech International generates revenue primarily through the sale of its ceramic membrane products and filtration systems. The company has established key revenue streams from both direct sales to end-users and partnerships with original equipment manufacturers (OEMs) who integrate LiqTech's technologies into their own systems. Additionally, LiqTech benefits from ongoing maintenance and service contracts, which provide a steady income stream. The company's strategic collaborations in various sectors, particularly in the marine industry and with environmental agencies, further enhance its market reach and revenue potential. Overall, LiqTech's innovative solutions and strong partnerships are critical factors contributing to its financial performance.
LiqTech International Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q2-2025)
| % Change Since: -1.52%|
Next Earnings Date:Nov 06, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted solid revenue growth and strategic achievements across several segments including swimming pools, ceramics, and plastics, with an optimistic outlook for the remainder of the year. However, challenges such as reduced gross margins and decreased sales in certain areas were noted, alongside a continued net loss.Q2-2025 Updates
Positive Updates
Revenue Growth
Revenue for the quarter came in at almost USD 5 million, up from $4.5 million in the year ago first quarter and up from $4.6 million in the sequential first quarter.
Strong Performance in Swimming Pool Segment
Delivered 6 systems and generated nearly $800,000 in revenue in the swimming pool segment. Order flow looks strong as the company enters the back half of the year.
Sequential Growth in Ceramics and Plastics
Ceramics and plastic segments experienced a 31% sequential growth, contributing to overall revenue improvement.
Significant Orders and Projects
Received an order from North Star Bluescope Steel for a filtration system. Also, a new pilot system was delivered to Razorback Direct to address a new end market opportunity.
Positive Outlook for Full Year Revenue
Full year revenue is expected to be between USD 19 million and USD 20 million, equating to a 30% to 37% increase from full year 2024.
Negative Updates
Reduced Gross Margins
Gross margins were 9.8% compared to 16% in the year-ago period, partially due to one-off write-offs and currency effects.
Decreased DPF and Ceramic Membrane Sales Year-Over-Year
DPF and ceramic membrane sales were $1.3 million, down from $1.7 million in Q2 last year.
Operating Expenses and Net Loss
Total operating expenses for the quarter were $2.6 million compared to $2.8 million in the same period last year, and the net loss was $2 million for the quarter.
Company Guidance
In the LiqTech Second Quarter 2025 Financial Results Conference Call, the company reported revenue of nearly USD 5 million, showing growth from the USD 4.5 million reported in the previous year and USD 4.6 million in the sequential first quarter. The revenue increase was driven by advancements in various business segments, including water systems, DPF and ceramic membranes, and plastics, with water systems alone generating $2.4 million. The company also highlighted a 31% sequential growth in ceramics and plastics. The gross margin for the quarter was 9.8%, affected by one-off write-offs, but adjusted figures suggested a margin closer to 15%. Operating expenses were $2.6 million, and the net loss stood at $2 million. LiqTech provided guidance for Q3 2025 revenue to be between $3.8 million and $4.2 million, projecting a 52% to 68% increase from Q3 2024, and full-year revenue is expected to range from $19 million to $20 million, marking a 30% to 37% rise from 2024. The company aims to achieve an EBITDA-positive quarter, contingent on sales volume and mix.LiqTech International Financial Statement Overview
Summary
LiqTech International is facing significant financial challenges with declining revenues, persistent losses, and negative cash flows. The balance sheet shows moderate leverage, but decreasing equity and ongoing liquidity issues suggest underlying financial instability.Income Statement
LiqTech International has faced declining revenue over recent years, with TTM revenue at $14.99M, down from $18.27M in 2021. The company is experiencing persistent losses, including a negative net income of $10.31M for the TTM. Gross profit margin remains low at 0.70%, and the net profit margin is significantly negative at -68.78%. These metrics highlight ongoing profitability challenges.35
Negative
Balance Sheet
The balance sheet indicates moderate financial stability with a debt-to-equity ratio of 0.86, reflecting manageable leverage. However, stockholders' equity has decreased over time, now at $15.06M. The equity ratio stands at 46.23%, suggesting reasonable asset financing through equity. Despite these, declining equity levels pose a potential risk.55
Neutral
Cash Flow
Cash flow analysis shows a negative operating cash flow of $6.87M for the TTM, indicating liquidity struggles. The free cash flow is also negative at $8.02M, with a free cash flow to net income ratio of 0.78, illustrating inefficiencies in converting revenue to cash. Although financing activities have provided some cash inflow, the overall cash flow position is weak.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.99M | 14.61M | 18.00M | 15.98M | 18.27M | 22.53M |
| Gross Profit | 104.27K | 250.91K | 2.77M | 567.14K | 1.58M | 2.15M |
| EBITDA | -7.54M | -7.48M | -5.08M | -11.40M | -7.74M | -7.33M |
| Net Income | -10.31M | -10.35M | -8.57M | -14.17M | -11.13M | -9.81M |
Balance Sheet | ||||||
| Total Assets | 32.57M | 32.43M | 35.97M | 40.13M | 45.05M | 42.21M |
| Cash, Cash Equivalents and Short-Term Investments | 10.45M | 10.87M | 9.48M | 16.60M | 15.36M | 2.71M |
| Total Debt | 12.99M | 11.81M | 12.22M | 11.54M | 24.46M | 8.69M |
| Total Liabilities | 17.50M | 15.77M | 18.70M | 16.82M | 32.28M | 17.39M |
| Stockholders Equity | 15.06M | 16.65M | 17.28M | 23.31M | 12.77M | 24.82M |
Cash Flow | ||||||
| Free Cash Flow | -8.02M | -8.90M | -7.08M | -13.73M | -8.34M | -6.41M |
| Operating Cash Flow | -6.87M | -7.53M | -4.18M | -12.04M | -7.20M | -2.60M |
| Investing Cash Flow | -1.09M | -424.04K | -2.89M | -1.69M | -1.45M | -4.01M |
| Financing Cash Flow | 10.49M | 8.49M | 580.64K | 13.70M | 13.90M | 7.22M |
LiqTech International Technical Analysis
Neutral
1.94
Price Trends
1.89
Positive
1.72
Positive
1.72
Positive
Market Momentum
>-0.01
Positive
48.23
Neutral
46.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LIQT, the sentiment is Neutral. The current price of 1.94 is below the 20-day moving average (MA) of 2.00, above the 50-day MA of 1.89, and above the 200-day MA of 1.72, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.23 is Neutral, neither overbought nor oversold. The STOCH value of 46.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $9.29M | 12.83 | 4.68% | ― | -14.25% | -59.84% | |
64 Neutral | $10.95B | 16.10 | 8.81% | 1.99% | 2.59% | -16.41% | |
56 Neutral | $30.41M | ― | -46.19% | ― | 19.03% | 11.70% | |
53 Neutral | $97.57M | ― | -7.69% | ― | -4.78% | -1359.72% | |
49 Neutral | $18.70M | ― | -78.97% | ― | -12.76% | 15.23% | |
41 Neutral | $17.14M | ― | -94.24% | ― | -12.72% | -36.80% | |
39 Underperform | $40.81M | ― | -160.82% | ― | ― | ― |
* Industrials Sector Average
Performance Comparison
LIQT
LiqTech International
1.94
-0.96
-33.10%
CLWT
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1.22
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FTEK
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2.91
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CLIR
ClearSign Combustion
0.59
-0.11
-15.71%
SCWO
374Water
0.27
-0.79
-74.53%
TOMZ
TOMI Environmental Solutions
0.83
-0.03
-3.49%
LiqTech International Corporate Events
Executive/Board ChangesShareholder MeetingsBusiness Operations and Strategy
LiqTech International Approves Equity Plan Amendment
Positive
Jun 6, 2025
On June 5, 2025, LiqTech International held its annual stockholders meeting, where an amendment to the 2022 Equity Incentive Plan was approved, increasing authorized shares by 1,500,000. The meeting also saw the election of five directors and the ratification of Sadler, Gibb & Associates, LLC as the independent accounting firm, reflecting strong shareholder engagement and support for the company’s strategic initiatives.
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.