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LiqTech International, Inc. (NASDAQ: LIQT) is a leading clean technology company based in Ballerup, Denmark, specializing in the manufacture and marketing of advanced filtration products and systems. With a focus on gas and liquid purification, LiqTech employs cutting-edge ceramic silicon carbide technology to develop state-of-the-art filtration solutions. The company's main product lines include diesel particulate filters (DPF) for controlling soot emissions from diesel engines, turnkey ceramic membrane systems for water treatment, and complete water treatment plants.
Established over 16 years ago, LiqTech has been at the forefront of innovation, continually seeking to meet the increasing demands for cleaner air and water. Their mission is to provide sustainable solutions that deliver long-term benefits and growth. The company's proprietary silicon carbide technology allows the production of highly effective filters and membranes used in challenging purification applications. This technology is pivotal in their creation of components for both microfiltration and ultrafiltration systems.
Recent notable achievements include a significant order for a pilot system for produced water treatment from Razorback Direct Oilfield Solutions and Services LLC, which marks LiqTech’s first U.S.-based oil & gas produced water order. This pilot project aims to test and document the efficiency of LiqTech's ultrafiltration technology, setting the stage for full-scale commercial implementation in the U.S. Additionally, LiqTech has formed strategic partnerships with companies like NESR and Dan Marine Group, expanding their market presence in the Middle East and Asia, respectively.
LiqTech's commitment to quality, continuous development, and competitive pricing has positioned them as a reliable supplier in the market. Their financial performance has shown improvement, with revenue growing by 13% in 2023. The company's strategic focus includes stabilizing and growing its established markets such as commercial pool systems and diesel particulate filters, while also expanding into target growth markets like oil & gas produced water treatment.
Key Financial Highlights:
- Revenue for 2023: $18.0 million, up from $16.0 million in 2022.
- Gross profit for 2023: $2.76 million (15.4% margin), compared to $0.6 million (3.5% margin) in 2022.
- Net loss for 2023: $(8.6) million, a significant improvement from $(14.2) million in 2022.
- Cash on hand (including restricted cash) as of December 31, 2023: $10.4 million.
LiqTech continues to focus on its strategic roadmap, emphasizing long-term value creation through market expansion, operational efficiency, and technological innovation.
LiqTech International, Inc. (NASDAQ: LIQT), a leader in clean technology, will participate in the Lytham Partners Winter 2021 Investor Conference from December 13-16, 2021. The company is set to host a webcasted Fireside Chat on December 13, 2021, at 11:00 AM ET, detailing its vision for 2022. Investors can attend virtually and engage in 1x1 meetings. LiqTech specializes in ceramic silicon carbide filtration technologies tailored for challenging water purification and diesel exhaust applications. Additional details can be found on the company's website.
LiqTech International (NASDAQ: LIQT) has appointed Simon Stadil as its new Chief Financial Officer, effective November 22, 2021. He brings extensive experience from Welltec and works in corporate finance and risk management. The previous CFO, Claus Toftegaard, will now oversee company projects in China and Denmark. This management change comes as LiqTech aims to expand operations, including a new manufacturing facility in China targeting black carbon emissions from ships, expected to open in 2022.
LiqTech International reported third quarter 2021 revenue of $4.1 million, a 17% increase year-over-year, but incurred a net loss of $2.9 million. The company has a solid cash position of $20.7 million. Supply chain disruptions impacted shipments, but management anticipates a strong backlog entering 2022. Notable orders include Chevron for offshore drilling and Baker Hughes for the Middle East market. Fourth quarter revenue guidance is set between $6 million and $8 million, with expectations for 2022 revenues ranging from $50 million to $80 million.
LiqTech International, Inc. (NASDAQ: LIQT) will announce its third quarter 2021 financial results on November 11, 2021, before market opens. A conference call is scheduled for the same day at 9:00 a.m. ET, accessible via dialing (833) 535-2206 or online through a live webcast. The replay will be available until November 18, 2021. This clean technology company specializes in advanced filtration solutions and aims to provide unique purification technologies for water and gas applications.
LiqTech International, Inc. (NASDAQ: LIQT) announced its first oil and gas order valued at approximately $4.0 million through its joint venture in the Middle East. This milestone order was placed by a major oil field services company and represents LiqTech's entry into a large addressable market, utilizing its proprietary silicon carbide ceramic filtration technology. The company is optimistic about securing additional orders and expects revenue from both system sales and a fixed rental fee arrangement. A conference call will be held on October 7, 2021 to discuss further updates.
LiqTech International, Inc. (NASDAQ: LIQT) reported Q2 2021 financial results with revenue of $4.0 million, down 13% year-over-year. The company faced a net loss of $3.1 million, attributed to lower demand in the marine scrubber market due to the COVID-19 pandemic. However, LiqTech achieved positive cash flow from operations of $0.4 million and ended the quarter with a strong cash balance of $25.1 million. The company secured a $15 million convertible note to support growth and received orders for new applications in the oil & gas and marine industries.
LiqTech International, Inc. (NASDAQ: LIQT), a clean technology company, will report its second-quarter financial results on August 16, 2021, before the market opens. A conference call will be held at 9:00 a.m. ET on the same day to discuss the findings. LiqTech specializes in ceramic silicon carbide filtration technologies for gas and liquid purification and offers solutions for challenging water purification applications. Investors and interested parties can access the conference call by calling the provided numbers and view the transcript post-call on the company's investor relations website.
LiqTech International, Inc. (LIQT) reported a challenging first quarter for 2021, with revenue dropping to $4.0 million, a 61% decline compared to $10.3 million in Q1 2020. The net loss for the quarter was $2.5 million. Despite these results, the company highlighted a strong cash position of $10.7 million and an improvement in order intake, marking the highest levels in over a year. Significant opportunities were noted in the marine scrubber market, with first orders for black carbon reduction in China and a $15 million convertible note secured to support growth plans.
LiqTech International, Inc. (NASDAQ: LIQT) will release its Q1 2021 financial results on May 12, 2021, before market opening. A conference call is scheduled for the same day at 9:00 a.m. ET, providing an opportunity for management to discuss the results with stakeholders. LiqTech specializes in advanced filtration technologies and aims to address challenging water purification needs. The company is urging stakeholders to review its risk disclosures when interpreting forward-looking statements.
LiqTech International (NASDAQ: LIQT) has announced its participation in the Lytham Partners Spring 2021 Investor Conference on March 30, 2021, at 8:00 AM ET. The company specializes in advanced filtration technologies, focusing on gas and liquid purification. A webcast of the presentation will be available on their website, along with archived access for later viewing. Management will also engage in virtual one-on-one meetings during the event, which runs until April 1, 2021. For more details, please visit LiqTech's Investor Relations page.
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