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1. Company Snapshot

1.a. Company Description

LiqTech International, Inc., a clean technology company, designs, develops, produces, markets, and sells automated filtering systems, ceramic silicon carbide liquid applications, and diesel particulate air filters in the United States, Canada, Europe, Asia, and South America.It operates in three segments: Water, Ceramics, and Plastics.The company manufactures and sells silicon carbide ceramic filtration technologies for liquid and gas purification; and diesel particulate filters for exhaust emission control solutions to the verified retrofit and the original equipment manufacturer market.


It also develops, manufactures, and sells liquid filtration systems, which are used for the marine scrubber systems, filtration of produced water, pre-filtration of reverse osmosis drinking water, industrial applications, producing clean drinking water, pool and spa water, food and beverage applicationz, seawater reverse osmosis, filter press, and UV disinfection.In addition, the company manufactures machined and welded plastic parts.LiqTech International, Inc.


sells its products primarily to industrial customers through direct sales, systems integrators, distributors, agents, and partners.The company was formerly known as Blue Moose Media, Inc.and changed its name to LiqTech International, Inc.


in October 2011.LiqTech International, Inc.was founded in 2000 and is headquartered in Ballerup, Denmark.

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1.b. Last Insights on LIQT

LiqTech International's recent performance was driven by progress in its filtration technologies business. The company reported Q2 2025 financial results, highlighting a narrowed quarterly loss of $0.22 per share compared to $0.36 per share a year ago. Management's conference call on August 13, 2025, likely provided investors with insights into the company's growth prospects. With a focus on clean technology, LiqTech's specialized filtration solutions continue to garner attention. According to recent announcements, the company's financials reflect a steady evolution in its business conditions.

1.c. Company Highlights

2. LiqTech International's Q3 2025 Earnings: A Strong Upswing

LiqTech International, Inc. reported a significant increase in revenue for its third quarter of 2025, with $3,800,000, up from $2,500,000 in the year-ago quarter. The company's gross margin also improved to 19.6%, and operating expenses were at their lowest levels in many years. The actual EPS came out at '-0.15', beating estimates at '-0.17'.

Publication Date: Nov -30

📋 Highlights
  • Revenue Growth:: Q3 2025 revenue reached $3.8M, up 52% YoY from $2.5M in Q3 2024.
  • Water Treatment Systems Breakthrough:: Swimming pool systems achieved record $1M revenue, the highest quarterly revenue segment ever.
  • Gross Margin Improvement:: Gross margin rose to 19.6%, with guidance for further increases as revenue grows.
  • 2025 Guidance:: Full-year revenue projected at $18–19M, reflecting 23–30% growth over 2024’s $14.3M.
  • Breakeven Target:: CFO outlines $6M quarterly revenue as breakeven threshold, with $7.3M cash reserves and spare capacity for growth.

Segment-wise Performance

The company's water treatment systems business, led by its swimming pool vertical, achieved its highest quarterly revenue to date, with $1,000,000 in revenue from six customers. The company also made progress in other applications, including water for energy, industry, and marine industries, with a strong order book and new bookings indicating a continuation of the positive trend. CEO Fei Chen highlighted the company's proprietary silicon carbide filtration technology as a key driver of growth.

Guidance and Outlook

The company expects revenue to be between $4,600,000 and $5,600,000 in Q4 2025, and between $18,000,000 and $19,000,000 for the full year 2025, representing a 23% to 30% increase compared to 2024. Analysts estimate next year's revenue growth at 17.7%. The company's CFO, David Kowalczyk, noted that the company's breakeven target is a quarterly revenue of approximately $6,000,000.

Valuation and Metrics

With a P/S Ratio of 1.17, the stock appears to be reasonably valued given the company's growth prospects. The EV/EBITDA ratio stands at -3.24, indicating that the company's valuation is largely dependent on its future growth prospects. The ROE and ROIC are negative, largely due to the company's current losses. The company's cash position is healthy, with $7,300,000 in cash at the end of the quarter.

Operational Highlights

The company is expanding its presence in the US, with the opening of a dedicated service center in Texas, and is working to reduce costs and improve efficiency. The company has spare capacity to support growth with limited investments, which should help in achieving its breakeven target.

3. NewsRoom

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LiqTech Secures First U.S. Commercial Pool Order for Three QlariFlow™ Systems

Mar -23

Source: globenewswire.com

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LiqTech International Q4 Earnings Call Highlights

Mar -02

Source: defenseworld.net

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LiqTech International, Inc. (LIQT) Q4 2025 Earnings Call Transcript

Feb -27

Source: seekingalpha.com

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LiqTech International, Inc. (LIQT) Reports Q4 Loss, Misses Revenue Estimates

Feb -27

Source: zacks.com

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LiqTech International Announces Financial Results for Fourth Quarter and Full Year 2025

Feb -27

Source: globenewswire.com

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LiqTech to Discuss Fourth Quarter and Fiscal Year 2025 Results on Friday, February 27, 2026

Feb -24

Source: globenewswire.com

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Head to Head Survey: Euro Tech (NASDAQ:CLWT) versus LiqTech International (NASDAQ:LIQT)

Feb -16

Source: defenseworld.net

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LiqTech Achieves Major Commercial Pool Milestone with Record Sales of 34 Systems Sold

Jan -13

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.05%)

6. Segments

Water

Expected Growth: 8.95%

LiqTech International's 8.95% growth in Water segment is driven by increasing demand for clean water, stringent regulations, and adoption of membrane technology. Growing need for wastewater treatment and recycling, particularly in industrial and municipal applications, also contributes to this growth.

Ceramics

Expected Growth: 9.27%

LiqTech International's Ceramics segment growth of 9.27% is driven by increasing demand for water filtration systems, stringent environmental regulations, and growing adoption in industrial applications. Additionally, the company's expansion into new markets, product innovation, and strategic partnerships contribute to the segment's rapid growth.

Plastics

Expected Growth: 8.9%

LiqTech International's 8.9% growth in Plastics is driven by increasing demand for water filtration systems, stringent regulations on water purification, and rising adoption of membrane technology in industrial applications. Additionally, growing concerns about water scarcity and quality, coupled with the company's innovative product offerings, contribute to this growth.

Corporate

Expected Growth: 10.43%

LiqTech International, Inc.'s 10.43% growth is driven by increasing demand for water treatment solutions, expansion into new markets, and strategic partnerships. The company's proprietary silicon carbide ceramic technology provides a competitive edge, while its focus on clean water and environmental sustainability resonates with customers and investors alike.

7. Detailed Products

Ceramic Membranes

LiqTech's ceramic membranes are used for water and wastewater treatment, providing high-quality filtration and purification of water and wastewater.

Systems and Plants

LiqTech designs and builds customized systems and plants for water and wastewater treatment, utilizing its ceramic membranes and other technologies.

Marine Scrubbers

LiqTech's marine scrubbers are used to remove pollutants and sulfur emissions from ship exhaust gases, enabling compliance with international emissions regulations.

DPF (Diesel Particulate Filters)

LiqTech's DPFs are used to reduce particulate matter emissions from diesel engines, improving air quality and reducing environmental impact.

Silicon Carbide (SiC) Membranes

LiqTech's SiC membranes are used for high-temperature and high-pressure applications, providing high-quality filtration and separation.

8. LiqTech International, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for LiqTech International, Inc. is medium due to the availability of alternative technologies and products in the market.

Bargaining Power Of Customers

The bargaining power of customers for LiqTech International, Inc. is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers for LiqTech International, Inc. is medium due to the presence of multiple suppliers in the market.

Threat Of New Entrants

The threat of new entrants for LiqTech International, Inc. is high due to the low barriers to entry in the industry.

Intensity Of Rivalry

The intensity of rivalry for LiqTech International, Inc. is high due to the presence of several established competitors in the market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 25.17%
Debt Cost 3.95%
Equity Weight 74.83%
Equity Cost 7.83%
WACC 6.85%
Leverage 33.63%

11. Quality Control: LiqTech International, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Porvair

A-Score: 4.9/10

Value: 3.9

Growth: 5.8

Quality: 6.9

Yield: 1.2

Momentum: 7.5

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Aker Carbon Capture

A-Score: 3.9/10

Value: 7.6

Growth: 3.3

Quality: 2.5

Yield: 10.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

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Stock-Card
LiqTech International

A-Score: 3.2/10

Value: 8.4

Growth: 3.1

Quality: 2.9

Yield: 0.0

Momentum: 5.0

Volatility: 0.0

1-Year Total Return ->

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Stock-Card
Top Ships

A-Score: 3.2/10

Value: 9.8

Growth: 2.0

Quality: 4.4

Yield: 0.0

Momentum: 2.5

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Envipco

A-Score: 3.2/10

Value: 5.2

Growth: 5.2

Quality: 4.3

Yield: 0.0

Momentum: 3.0

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
GVS

A-Score: 2.6/10

Value: 3.8

Growth: 2.0

Quality: 5.9

Yield: 0.0

Momentum: 1.5

Volatility: 2.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.82$

Current Price

1.82$

Potential

0.00%

Expected Cash-Flows