LIQTNasdaqMisc Industrial & Commercial Machinery & EquipmentUS GAAP · USD

LiqTech International, Inc

LiqTech International is a clean technology company that designs and manufactures ceramic silicon carbide filtration products and automated purification systems. Its core business spans liquid filtration systems, ceramic diesel particulate filters, and plastic components, with products used in water treatment, marine, industrial, chemical, and oil & gas applications.

Liikevaihto16,5milj. USD
Liikevoitto (EBIT)−8,3milj. USD
+12,4 %v/v
EBIT-marginaali−50,3%
Nettotulos−8,5milj. USD
+17,6 %v/v
Vapaa kassavirta−6,5milj. USD
+26,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−20−1001020milj. USD2020: EBIT −8,3 milj. USD20202021: EBIT −11 milj. USD20212022: EBIT −13 milj. USD20222023: EBIT −7,8 milj. USD20232024: EBIT −9,5 milj. USD20242025: 17 milj. USD2025: EBIT −8,3 milj. USD202517−8,3
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Ceramic membranes and filtration media35 %

Proprietary silicon carbide membranes and filters used in liquid purification and separation.

Liquid filtration systems40 %

Integrated systems for pool water, marine scrubbers, industrial wastewater, and process fluids.

Diesel particulate filters10 %

Ceramic DPF components used to reduce soot and black carbon emissions from diesel engines.

Plastic components and fabrication10 %

Machined, welded, bent, and solvent-cemented plastic parts for industrial and life-science customers.

Aftermarket and service5 %

Installation support, spare parts, and service for deployed filtration systems.

Asiakkaat

LiqTech sells to commercial and industrial customers that need filtration for aggressive fluids, wastewater, or emissions control. End markets mentioned in reports include commercial pool operators, shipowners and ship operators, oil & gas operators, industrial and chemical processors, mining wastewater users, and steel processing customers. It also serves plastics customers in pharmaceuticals, food & beverage, healthcare, and graphics.

Marine and shipping

Buys scrubber and water-treatment filtration systems to meet emissions and water-quality requirements.

Industrial wastewater and process industries

Buys systems for mining, steel, chemicals, petrochemicals, and heavy-metals removal.

Oil & gas

Buys tailored filtration for produced water and related process streams to improve compliance and reuse.

Commercial pool filtration

Buys pool water filtration systems and aftermarket support for clean-water performance.

Plastics fabrication customers

Buys machined and fabricated plastic components for regulated and precision applications.

Strategia

LiqTech is focused on commercializing its silicon carbide technology across end markets with regulatory and sustainability tailwinds. Management is prioritizing new product development, deeper penetration of existing markets, and expansion into adjacent applications through distributors, partners, and localized service capabilities.

New product and application developmentKeskipitkä aikaväli

Broader use cases can increase the addressable market for the core silicon carbide platform.

Penetration of existing end marketsLyhyt aikaväli

The company already has reference customers in marine, pool, wastewater, and oil & gas.

Geographic expansion and localizationKeskipitkä aikaväli

Local service, spare parts, and R&D can improve customer response and execution in key markets.

Maantiede

Production is centered in Denmark, with offices and operations in the Copenhagen area and Hobro, while the company also maintains U.S. and China presence in Fort Worth, Texas and Nantong/Shanghai. Management says it markets through offices in Denmark plus local representatives and distributors, and customer relationships span more than 25 countries. Geography matters because manufacturing is concentrated in Denmark, but sales, service, and localization efforts are expanding in the U.S. and China.

Riskit

The company remains exposed to operating losses, working-capital pressure, and the need for additional funding, which can constrain execution if demand or margins weaken. Its business is also sensitive to trade restrictions, tariffs, geopolitical disruption, energy prices, and supply-chain interruptions because products are manufactured in Denmark and shipped internationally. Cybersecurity, customer payment risk, and asset impairment are additional company-specific risks given its IP-heavy, project-based business model.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Liquidity and going-concern pressure1Trade tariffs and export restrictions2Geopolitical and shipping disruption3Energy cost volatility4Cybersecurity and IP protection5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Liquidity and going-concern pressureVaikutus: KorkeaTodennäköisyys: Korkea

    The company has a history of operating losses and may need additional funding to support operations.

    KohdistuuCash burnFinancing accessCovenant flexibility
  2. Trade tariffs and export restrictionsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company manufactures in Denmark and sells internationally, so tariffs can raise costs and reduce demand.

    Kohdistuu: China and cross-border supply chains

  3. Geopolitical and shipping disruptionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    War, sanctions, and Red Sea/Russia-Ukraine instability can interrupt delivery and customer service.

    Kohdistuu: Global shipping lanes and multi-jurisdiction operations

  4. Energy cost volatilityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Kiln operations and manufacturing are energy-intensive, so higher power prices can compress margins.

    Kohdistuu: Denmark and European manufacturing base

  5. Cybersecurity and IP protectionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Proprietary membrane technology and customer data create exposure to theft or disruption.

    KohdistuuIT systemsProduction continuityIntellectual property

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

The business mixes product sales, installed systems, and aftermarket services, which can have different recognition timing.

Vaikutus: Affects reported revenue, cost of sales, and quarterly comparability

Inventory valuation

Specialized membranes, DPFs, and system components may require write-downs if demand changes.

Vaikutus: Directly affects gross profit

Warranty reserves

Installed filtration systems can create future service and replacement obligations.

Vaikutus: Affects gross margin and operating expense estimates

Receivables allowance

Project customers and international buyers may pay slowly or face financing constraints.

Vaikutus: Affects bad debt expense and operating results

Long-lived asset impairment

Persistent losses and changing demand can reduce recoverable value of manufacturing assets.

Vaikutus: Can create non-cash impairment charges

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026