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

  • LiqTech International reported FY 2025 revenue of $16.5 million, a 13% increase from $14.6 million in FY 2024.
  • Q4 2025 revenue was $3.1 million, an 8% decrease compared to $3.4 million in Q4 2024.
  • FY 2025 net loss narrowed to $8.6 million from $10.3 million in the prior year, while Q4 2025 net loss decreased to $2.6 million from $3.0 million.
  • Adjusted EBITDA for FY 2025 was $(5.0) million, an improvement from $(6.1) million in FY 2024.
  • Ending cash balance on December 31, 2025, stood at $5.1 million.
  • Total system & aftermarket revenue surged 49% to $8.2 million, driven by pool systems, water-for-energy, industrial, & marine applications.
  • LiqTech sold a record 34 pool systems in 2025, generating $2.6 million in revenue compared to $1.2 million in 2024.
  • Two commercial systems were delivered in 2025, including an advanced filtration system for NorthStar BlueScope Steel.
  • The marine segment secured three commercial orders for eight dual-fuel engine water treatment systems, with five units in backlog for 2026 delivery.
  • The company expanded its U.S. footprint by establishing a service center in Texas.
  • FY 2026 revenue guidance is set between $23 million & $27 million, representing a 39% to 64% increase over FY 2025.
  • Management targets positive FY 2026 Adjusted EBITDA within the mid-to-high revenue guidance range.
  • Gross profit margin improved to 7.6% in 2025 from 1.7% in 2024 due to higher activity levels & a favorable sales mix.
  • Total operating expenses remained stable at $9.6 million in 2025 compared to $9.7 million in 2024.
  • A strategic refocus shifted the company away from automotive DPFs toward sub-segments with higher future demand.
  • Gross profit included $1.5 million in depreciation for 2025, down from $1.8 million in 2024.
  • Operating expenses excluding foreign exchange impact were $9.2 million on a constant currency basis.
  • R&D expenses decreased to $1.2 million in 2025 from $1.4 million in 2024 due to a more focused strategy.
  • Net loss per share for 2025 was $(0.89), improving from $(1.64) in 2024.
  • Conference call for results discussion is scheduled for February 27, 2026, at 9:00 a.m. Eastern time.