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LIQT Nasdaq· LiqTech International Inc.
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LIQT Nasdaq· LiqTech International Inc.
Earnings report Q3 2023

LIQT Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

In the latest quarter ended September 30, 2023, LIQTECH INTERNATIONAL, INC. (LIQT) reported total revenue of $5.07 million, representing a significant increase from $3.31 million in the same quarter of the previous year. This growth in revenue can be attributed to the company's continued focus on manufacturing ceramic silicon carbide filters and membranes, which are in high demand for gas and liquid purification purposes.

Strengths

LIQT demonstrated strong revenue growth in the latest quarter, reflecting the effectiveness of its clean technology products in the market. The company's revenue increased by approximately 53% compared to the same quarter last year, indicating a positive trend in sales. Management attributes this growth to the increasing demand for LIQT's state-of-the-art purification products, which are known for their efficiency and effectiveness.

Challenges

Despite the strong revenue growth, LIQT faced challenges in managing its operating expenses. The company reported a loss from operations of $1.70 million in the latest quarter, compared to a loss of $2.28 million in the same quarter of the previous year. This indicates that LIQT needs to focus on optimizing its operating expenses to improve profitability.

Noteworthy

It is worth mentioning that LIQT's revenue growth in the latest quarter outpaced the growth rate of the overall market for gas and liquid purification products. This indicates that LIQT is gaining market share and successfully capitalizing on the increasing demand for its innovative products.

Summary

LIQTECH INTERNATIONAL, INC. reported strong revenue growth in the latest quarter, driven by the increasing demand for its ceramic silicon carbide filters and membranes. The company's revenue increased by approximately 53% compared to the same quarter last year, indicating a positive trend in sales. However, LIQT needs to address its operating expenses to improve profitability. Overall, LIQT's performance in the latest quarter reflects its strength in the clean technology sector and its ability to capture market share.

Source documents

Form 10-Q  filed on Nov 09, 2023
76 pages scanned

Reference data

Company financials Q3 revenue 5.1M
Analyst estimates Q3 EPS missed by -∞%
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