LiqTech International, Inc. reported its financial results for the second quarter of 2025, revealing a revenue of $4.96 million, a 10.5% increase from $4.49 million in the same period last year. For the first half of 2025, the company generated $9.58 million in revenue, up 9.8% from $8.72 million in the first half of 2024. Despite the revenue growth, the company experienced a net loss of $2.16 million for the quarter, slightly higher than the $2.11 million loss reported in the prior year. The net loss for the six-month period was $4.52 million, compared to $4.50 million in the same period last year.
The increase in revenue was attributed to higher sales of liquid filtration systems, particularly pool systems and aftermarket sales, as well as increased sales of plastics and ceramic membranes. However, this was partially offset by a decline in deliveries of diesel particulate filters (DPFs). The gross profit margin for the second quarter decreased to 9.8% from 16.0% in the previous year, primarily due to underutilization of manufacturing capacity linked to lower DPF sales and increased provisions for slow-moving inventory.
In terms of operational developments, LiqTech established a joint venture, Nantong JiTRI LiqTech Green Energy Technology Co., Ltd., in January 2025, focusing on marine water treatment systems in China. The joint venture received R&D funding of approximately $1.1 million to support its development efforts. The company also reported a decrease in research and development expenses, which fell by 40.4% to $242,556 in the second quarter, attributed to the completion of a loss-making external project and a reduction in R&D personnel.
LiqTech's total assets as of June 30, 2025, were $31.72 million, a slight decrease from $32.43 million at the end of 2024. The company’s cash and restricted cash decreased to $8.67 million from $10.87 million at the end of the previous year. The company’s net working capital also declined to $14.31 million, down from $15.74 million. Looking ahead, LiqTech anticipates that its current cash reserves and ongoing operations will be sufficient to meet its capital requirements over the next 12 months, although it acknowledges significant uncertainties related to global economic conditions and market dynamics.
About LIQTECH INTERNATIONAL INC
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