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LiqTech International
(NASDAQ:LIQT)
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Rating:42Neutral
Price Target:
$0.30
▼(-49.49% Downside)
Action:Reiterated
Date:10/27/26
LIQT’s score is held down primarily by weak financial performance: persistent large losses, very low margins, and ongoing cash burn. Technicals also remain unfavorable with the stock well below major moving averages and bearish momentum. The main offsets are improved balance-sheet flexibility from debt reduction/strengthened liquidity and some encouraging commercial execution (record Commercial Pool results and follow-on industry orders), but guidance was revised lower and near-term profitability pressures remain significant.
Positive Factors
Improved Liquidity
The capital raise materially strengthened liquidity while eliminating senior notes, giving LiqTech more flexibility to fund operations and execute commercial plans. This reduces near-term financing pressure, although sustained losses mean the stronger balance sheet still depends on improved profitability.
Negative Factors
Persistent Unprofitability
Deeply negative operating and net margins show that LiqTech has not yet established a stable earnings model. Continued losses constrain internally funded growth, weaken returns on equity, and leave future financial progress dependent on substantial margin improvement and disciplined spending.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Liquidity
The capital raise materially strengthened liquidity while eliminating senior notes, giving LiqTech more flexibility to fund operations and execute commercial plans. This reduces near-term financing pressure, although sustained losses mean the stronger balance sheet still depends on improved profitability.
Read all positive factors
LiqTech International (LIQT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.03M
Dividend YieldN/A
Average Volume (3M)423.38K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth-0.17%
EPS Growth37.55%
CountryUS
Employees92
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)-0.85
Shares Outstanding32,947,840
10 Day Avg. Volume118,393
30 Day Avg. Volume423,380
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.35
Price to Sales (P/S)0.85
P/FCF Ratio-2.16
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue0.65
Enterprise Value/Gross Profit7.14
Enterprise Value/Ebitda-1.51
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.79
Revenue Forecast (FY)$21.60M
LiqTech International Business Overview & Revenue Model
Company Description
LiqTech International, Inc. operates as a global clean technology enterprise, dedicated to the innovation, manufacturing, marketing, and distribution of sophisticated filtration and purification solutions. The company's reach extends across the Un...
How the Company Makes Money
LiqTech makes money primarily by selling silicon carbide ceramic membrane filters and filtration systems to industrial and environmental customers. Revenue is generated through (1) product sales of SiC membrane-based filtration modules/filters, (2...
LiqTech International Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call presented a mix of meaningful commercial progress (record Commercial Pool sales, Marine milestones, a $2.1M follow-on order, new U.S. customer wins) and materially improved liquidity from an $18M public offering, which strengthens the company's ability to invest and execute. Offsetting those positives were a 12% year-over-year revenue decline, a notable delay in a large Water for Energy project that prompted a downward revision of full-year guidance to $20M–$23M, compressed gross margin (8.4%) and wider net loss. Management’s focus on standardization, partnerships and disciplined capital allocation provides a credible path to improved margins and repeatability, but near-term revenue volatility and profitability pressures remain significant.Positive Updates
Record Commercial Pool Revenue
Commercial Pool revenue reached a record $1.5M in Q2 2026, up from $0.8M in Q2 2025 and Q1 2026, reflecting successful standardization of the QlariFlow platform and expanded distribution.
Negative Updates
Quarterly Revenue Decline
Total revenue for Q2 2026 was $4.4M, down 12% year-over-year from $5.0M in Q2 2025, driven by lower Water for Energy activity and softer sales in DPF/membrane and plastics segments.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Commercial Pool Revenue
Commercial Pool revenue reached a record $1.5M in Q2 2026, up from $0.8M in Q2 2025 and Q1 2026, reflecting successful standardization of the QlariFlow platform and expanded distribution.
Read all positive updates
Company Guidance
Management revised full‑year 2026 revenue guidance to $20.0–$23.0 million after reporting Q2 revenue of $4.4 million (record Commercial Pool $1.5M, Marine $0.7M, DPF & membranes ~$1.0M, plastics ~$0.9M); Q2 gross profit was $0.4M (8.4% margin), net loss $3.1M, adjusted EBITDA -$1.6M, total operating expenses $2.7M (selling $0.8M, G&A $1.6M, R&D $0.3M) and other expenses $0.7M; the outlook assumes strong performance from Commercial Pool, Marine and selected Water for Industry (including a $2.1M steel follow‑on order with ~75%—~$1.575M—expected by year‑end) while a delayed Water for Energy project reduced near‑term visibility; the company finished Q2 with cash (including restricted) of $15.7M after an ~$18M net proceeds public offering that eliminated senior notes, and priorities remain gross‑margin improvement, disciplined spending, working capital management and a rapid path to profitability.LiqTech International Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.43M | 16.51M | 14.60M | 18.00M | 15.98M | 18.27M |
| Gross Profit | 1.40M | 1.25M | 250.91K | 2.78M | 567.14K | 1.58M |
| EBITDA | -6.64M | -5.99M | -7.48M | -5.48M | -11.40M | -7.74M |
| Net Income | -9.75M | -8.53M | -10.35M | -8.57M | -14.17M | -11.13M |
Balance Sheet | ||||||
| Total Assets | 37.95M | 27.28M | 32.43M | 35.97M | 40.13M | 45.05M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 5.07M | 10.87M | 9.48M | 15.16M | 15.36M |
| Total Debt | 5.78M | 17.28M | 11.81M | 12.22M | 11.54M | 24.46M |
| Total Liabilities | 12.15M | 16.91M | 15.77M | 18.70M | 16.82M | 32.28M |
| Stockholders Equity | 25.91M | 10.43M | 16.65M | 17.28M | 23.31M | 12.77M |
Cash Flow | ||||||
| Free Cash Flow | -8.81M | -6.50M | -8.90M | -7.08M | -13.73M | -8.34M |
| Operating Cash Flow | -8.24M | -6.11M | -7.53M | -4.18M | -12.04M | -7.20M |
| Investing Cash Flow | -420.60K | -217.93K | -424.04K | -2.89M | -1.69M | -1.45M |
| Financing Cash Flow | 15.62M | 719.29K | 8.49M | 580.64K | 13.70M | 13.90M |
LiqTech International Technical Analysis
Negative
0.59
Price Trends
0.54
Negative
0.64
Negative
1.20
Negative
Market Momentum
-0.07
Positive
28.86
Positive
8.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LIQT, the sentiment is Negative. The current price of 0.59 is above the 20-day moving average (MA) of 0.41, above the 50-day MA of 0.54, and below the 200-day MA of 1.20, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 28.86 is Positive, neither overbought nor oversold. The STOCH value of 8.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LIQT.
LiqTech International Risk Analysis
LiqTech International disclosed 37 risk factors in its most recent earnings report. LiqTech International reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LiqTech International Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $7.07B | 24.69 | 20.22% | 0.51% | 23.97% | 28.96% | |
71 Outperform | $350.17M | 23.42 | 8.25% | ― | -14.95% | -31.61% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | $2.94B | -98.81 | -3.60% | 2.96% | 37.64% | -145.85% | |
51 Neutral | $33.15M | -7.80 | -101.27% | ― | 13.08% | 39.68% | |
46 Neutral | $12.13M | -2.88 | -326.60% | ― | 11.42% | 13.68% | |
42 Neutral | $10.03M | -0.36 | -68.70% | ― | -0.17% | 37.55% |
* Industrials Sector Average
LIQT
LiqTech International
0.30
-2.08
-87.23%
CECO
Ceco Environmental
50.15
1.65
3.40%
ERII
Energy Recovery
6.86
-10.54
-60.57%
FSS
Federal Signal
115.81
-9.44
-7.53%
BCHT
Birchtech
1.26
-2.10
-62.50%
TOMZ
TOMI Environmental Solutions
1.49
-1.24
-45.42%
LiqTech International Corporate Events
Business Operations and StrategyExecutive/Board Changes
LiqTech International Appoints Interim Chief Financial Officer
Positive
Oct 6, 2026
LiqTech International’s board appointed Michael Schrøder as interim chief financial officer on September 30, 2026, with his mandate to begin November 1, 2026, bringing extensive CFO and interim CEO experience from European logistics, pr...
Business Operations and StrategyExecutive/Board Changes
LiqTech International Announces Upcoming CFO-COO Leadership Transition
Neutral
Sep 8, 2026
On August 31, 2026, LiqTech International, Inc. disclosed that its Chief Financial and Operating Officer, David Noerby Foss Kowalczyk, had notified the company of his intention to resign, with his departure scheduled to take effect on November 30,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.