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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 reported a 2020 revenue of $22.5 million, down 31% from $32.6 million in 2019, with a significant net loss of $9.8 million. Despite the challenges posed by COVID-19, the company maintains a strong cash balance of $13.3 million and has increased R&D investment by 70%. A $15 million convertible note was secured to fund future investments. Management anticipates improvement in the marine scrubber market and plans to build a facility in China targeting black carbon emissions reduction.
LiqTech International, Inc. (NASDAQ: LIQT) will share its fourth quarter and fiscal year 2020 results on March 25, 2021, before market opening. The company specializes in filtration technologies for gas and liquid purification. A conference call is set for 9:00 a.m. ET on the same day for discussion of the results. Interested parties can access the call by dialing (833) 535-2206 or (412) 902-6741, and a replay will be available until April 1, 2021. Visit the company's investor relations page for further information.
LiqTech International, Inc. (NASDAQ: LIQT) reported preliminary fourth quarter 2020 revenue of $4.1 million, up from $3.5 million in Q3 2020, driven by a recovery in the marine scrubber market. CEO Sune Mathiesen emphasized three growth opportunities for 2021: marine scrubber market rebound, launch of water treatment solutions in the oil and gas sector in the Middle East, and black carbon reduction in China. The company aims for record revenue and profitability in fiscal 2021, supported by plans to double manufacturing capacity in Copenhagen.
LiqTech International, a clean technology company focused on filtration technologies, will hold an Analyst and Investor Meeting on January 26, 2021, at 8:00 AM ET. The virtual event will showcase management updates on the company's growth strategies in marine scrubbers, oil and gas, and black carbon reduction. Preliminary financial results for Q4 and fiscal year 2020 will also be announced. Investors can access the meeting via the Investor Relations section of their website.
LiqTech International (NASDAQ: LIQT) reported Q3 2020 revenue of $3.5 million, a 63% decline from $9.7 million in Q3 2019, primarily due to COVID-19's impact on the marine scrubber market. The company achieved a gross profit of $(0.3) million, marking a negative margin of 9%. Cash balance stood at $14.5 million. Despite challenges, management remains optimistic, citing growing opportunities in black carbon and NOx reduction and the launch of a new 60-nanometer ceramic membrane. The transition to closed loop scrubbers may also be accelerated due to recent regulatory changes.
LiqTech International, Inc. (NASDAQ: LIQT), a leader in clean technology, will announce its third quarter 2020 financial results on November 9, 2020, prior to market opening. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss the results. LiqTech specializes in advanced filtration products utilizing ceramic silicon carbide technology for gas and liquid purification. The company aims to provide comprehensive solutions for challenging water purification applications.
LiqTech International (NASDAQ: LIQT), a clean technology firm specializing in filtration technologies, announced CEO Sune Mathiesen's participation in the Lytham Partners Virtual Investor Growth Conference on October 7, 2020, at 10:00 AM ET. The event will include a presentation and a fireside chat, followed by virtual one-on-one meetings with management. A webcast of the event can be accessed through LiqTech's investor relations webpage, and a replay will be available post-event. LiqTech focuses on advanced filtration solutions for water purification and diesel exhaust control.
LiqTech International, Inc. (Nasdaq: LIQT) has appointed Richard Meeusen to its Board of Directors, effective immediately. Meeusen brings extensive experience from his previous leadership roles, including 17 years as CEO at Badger Meter. His expertise is expected to aid LiqTech in navigating challenges and opportunities in the marine scrubber market and other applications for silicon carbide membrane systems. CEO Sune Mathiesen expressed optimism about Meeusen's contributions, suggesting a strategic move to enhance the company's growth and innovation in filtration technologies.
LiqTech International reported its second quarter 2020 financial results, revealing a revenue decline of 50.1% to $4.6 million compared to $9.3 million in Q2 2019, primarily due to COVID-19's impact. The company experienced a net loss of $(2.6) million, contrasting with a net income of $0.1 million last year. Despite challenges, LiqTech formed a joint venture for water treatment in the Middle East and observed increased inquiries for marine scrubber filtration systems. Ending cash balance was $16.2 million, bolstered by a $7.3 million private placement.
LiqTech International, Inc. (NASDAQ: LIQT) will release its financial results for the second quarter of 2020 on August 10, 2020, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss the results. Interested participants can join by dialing (833) 535-2206 or (412) 902-6741. A replay will be available until August 17, 2020. The company specializes in ceramic silicon carbide filtration technologies for gas and liquid purification, serving diverse water purification needs.
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