10-K - LiqTech International, Inc. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

LiqTech International reported FY 2025 revenue of $16.5M, a 13.0% increase from $14.6M in FY 2024. Despite revenue growth, the company incurred a net loss of $8.6M, an improvement from a $10.3M net loss in the prior year. Gross profit improved significantly to $1.3M (7.6% margin) from $0.3M (1.7% margin), driven by a more favorable sales mix and increased deliveries of high-margin systems. However, operating losses remained substantial at $8.3M. The company ended the year with $5.1M in cash, down from $10.9M, and negative operating cash flow of $6.1M, raising substantial doubt about its ability to continue as a going concern. Management is implementing cost optimization and evaluating financing alternatives.

Key Takeaways

1Revenue increased 13.0% to $16.5M, driven by systems and components sales.

2Net loss improved 16.9% to $8.6M from $10.3M in prior year.

3Gross margin expanded to 7.6% from 1.7% due to favorable sales mix.

4Cash decreased to $5.1M from $10.9M with negative operating cash flow of $6.1M.

5Four largest customers accounted for approximately 30% of total net sales.

Key Financial Metrics

EPS

-$1

-$1.64 prior year

Revenue

$16.5M

+13.0%

Net Income

-$8.6M

-16.9%

Gross Margin

7.6%

1.7% prior year

Gross Profit

$1.3M

+398.4%

Operating Income

-$8.3M

-12.4%

operating margin

-50.3%

Business Segments

Systems and AftermarketIncreased deliveries of pool filtration and industrial water treatment systems

$8.2M+48.8% YoY

Filters and MembranesDecreased sales due to strategic refocusing away from automotive DPFs

$4.0M-28.9% YoY

ComponentsIncreased machine building for food & beverage industry

$4.1M+21.9% YoY

Amendment History

2 filings

10-K
Original
Viewing
Feb 27, 20260001437749-26-005983
10-K/A
Amendment 1
Latest
Mar 19, 20260001437749-26-008965