Liquidmetal Technologies Reports Significant Revenue Decline in Q3 2025

Liquidmetal Technologies, Inc. reported a significant decline in financial performance for the third quarter and the first nine months of 2025, as detailed in its latest 10-Q filing. For the three months ending September 30, 2025, the company generated total revenue of $37, a decrease of 88.3% from $316 in the same period of 2024. The nine-month revenue also fell by 16.8%, totaling $608 compared to $731 in the prior year. The decline in revenue was primarily attributed to reduced product shipments, particularly in recurring customer orders and medical device orders. The company's gross profit for the quarter was $20, down from $77 a year earlier, while the gross profit for the nine months increased slightly to $175 from $171.

Operating expenses increased during the quarter, with selling, marketing, general, and administrative expenses rising to $961, or 2,597.3% of revenue, compared to $904, or 286.1% of revenue, in the prior year. This increase was driven by higher payroll, legal fees, travel expenses, and stock compensation. Research and development expenses remained relatively stable at $4 for the quarter, reflecting ongoing efforts to develop new Liquidmetal alloys. The company reported a net loss of $552 for the third quarter, compared to a loss of $441 in the same period last year, and a net loss of $1,645 for the nine months, up from $1,015 in 2024.

In terms of operational developments, Liquidmetal Technologies has made strategic moves to enhance its market position. Notably, on July 4, 2025, the company established a joint venture, Hangzhou Feifeng Liquidmetal Co., Ltd., in China, aimed at developing a manufacturing facility for amorphous metal products. This venture is expected to bolster the company's production capabilities and market reach in Asia. Additionally, the company continues to engage with contract manufacturers, such as Dongguan Yihao Metal Materials Technology Co. Ltd., to produce its products, although the ability to scale production remains uncertain.

As of September 30, 2025, Liquidmetal Technologies reported total assets of $29,135, a decrease from $30,400 at the end of 2024. The company had cash and cash equivalents of $8,490, along with $12,616 in investments in debt securities, providing a total liquidity of $21,106. The company anticipates that these resources will be sufficient to fund operations in the near term, despite ongoing operating losses. Looking ahead, Liquidmetal Technologies aims to stabilize and increase its revenue through improved product shipments and potential licensing agreements, although it acknowledges the challenges posed by long sales lead times and market conditions.