Liqtech Internat Financials
This page shows Liqtech Internat (LIQT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Liqtech Internat has an operating margin of -50.3%, meaning the company retains $-50 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -65.0% the prior year.
Liqtech Internat's revenue grew 13.0% year-over-year to $16.5M, a solid pace of expansion. This earns a growth score of 55/100.
Liqtech Internat carries a low D/E ratio of 1.62, meaning only $1.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.38, Liqtech Internat holds $3.38 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 66/100.
While Liqtech Internat generated -$6.1M in operating cash flow, capex of $395K consumed most of it, leaving -$6.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Liqtech Internat generates a -81.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -62.1% the prior year.
Liqtech Internat passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Liqtech Internat generates $0.72 in operating cash flow (-$6.1M OCF vs -$8.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Liqtech Internat generated $16.5M in revenue in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Liqtech Internat's EBITDA was -$6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.7% from the prior year.
Liqtech Internat reported -$8.5M in net income in fiscal year 2025. This represents an increase of 17.6% from the prior year.
Cash & Balance Sheet
Liqtech Internat generated -$6.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 26.9% from the prior year.
Liqtech Internat held $5.1M in cash against $0 in long-term debt as of fiscal year 2025.
Liqtech Internat had 10M shares outstanding in fiscal year 2025. This represents an increase of 1.6% from the prior year.
Margins & Returns
Liqtech Internat's gross margin was 7.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 5.9 percentage points from the prior year.
Liqtech Internat's operating margin was -50.3% in fiscal year 2025, reflecting core business profitability. This is up 14.6 percentage points from the prior year.
Liqtech Internat's net profit margin was -51.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 19.2 percentage points from the prior year.
Liqtech Internat's ROE was -81.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 19.6 percentage points from the prior year.
Capital Allocation
Liqtech Internat invested $1.2M in research and development in fiscal year 2025. This represents a decrease of 13.9% from the prior year.
Liqtech Internat invested $395K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 71.1% from the prior year.
LIQT Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1M-17.9% | $3.8M-23.2% | $5.0M+7.4% | $4.6M+35.6% | $3.4M+37.4% | $2.5M-44.7% | $4.5M+5.9% | $4.2M |
| Cost of Revenue | $3.2M+5.6% | $3.1M-31.6% | $4.5M-0.4% | $4.5M+14.2% | $3.9M+46.4% | $2.7M-28.7% | $3.8M-5.0% | $4.0M |
| Gross Profit | -$107K-114.3% | $748K+54.3% | $485K+287.5% | $125K+123.7% | -$528K-151.9% | -$210K-129.2% | $717K+164.6% | $271K |
| R&D Expenses | $422K+56.5% | $269K+11.1% | $243K+5.4% | $230K-44.1% | $412K+47.9% | $278K-31.7% | $407K+59.8% | $255K |
| SG&A Expenses | $1.5M+18.5% | $1.3M-17.5% | $1.5M+13.0% | $1.4M+25.7% | $1.1M-27.3% | $1.5M-3.2% | $1.5M-0.2% | $1.5M |
| Operating Income | -$2.7M-101.1% | -$1.3M+36.8% | -$2.1M+3.5% | -$2.2M+21.0% | -$2.8M-6.8% | -$2.6M-24.1% | -$2.1M-2.0% | -$2.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$380-1.3% | -$375-4.2% | -$360-6.2% | -$339-81.3% | -$187+98.1% | -$10K+28.9% | -$14K+2.0% | -$14K |
| Net Income | -$2.6M-81.1% | -$1.4M+33.5% | -$2.2M+8.5% | -$2.4M+21.7% | -$3.0M-5.8% | -$2.8M-34.5% | -$2.1M+11.6% | -$2.4M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LIQT Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $27.3M-10.0% | $30.3M-4.5% | $31.7M0.0% | $31.7M-2.2% | $32.4M+12.9% | $28.7M+0.5% | $28.6M-8.9% | $31.4M |
| Current Assets | $16.0M-15.0% | $18.8M-5.1% | $19.8M-5.4% | $20.9M+1.3% | $20.6M+29.3% | $16.0M-7.1% | $17.2M-11.5% | $19.4M |
| Cash & Equivalents | $5.1M | N/A | N/A | N/A | N/A | $4.5M-17.4% | $5.5M-28.9% | $7.7M |
| Inventory | $6.5M+0.8% | $6.4M+16.5% | $5.5M-3.5% | $5.7M+3.1% | $5.5M-11.5% | $6.3M+11.4% | $5.6M+2.0% | $5.5M |
| Accounts Receivable | $3.4M-9.2% | $3.8M-7.8% | $4.1M+19.1% | $3.4M+43.6% | $2.4M+3.4% | $2.3M-17.3% | $2.8M+3.6% | $2.7M |
| Goodwill | $248K+0.1% | $248K+0.1% | $248K+8.4% | $228K+3.5% | $221K-6.8% | $237K+4.6% | $226K-1.0% | $229K |
| Total Liabilities | $16.9M-3.5% | $17.5M-1.5% | $17.8M+1.6% | $17.5M+11.0% | $15.8M-8.8% | $17.3M+6.1% | $16.3M-3.1% | $16.8M |
| Current Liabilities | $4.7M-12.0% | $5.4M-2.0% | $5.5M-0.5% | $5.5M+12.3% | $4.9M-18.2% | $6.0M-4.2% | $6.3M-5.6% | $6.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $10.4M-18.5% | $12.8M-8.1% | $13.9M-7.5% | $15.1M-9.6% | $16.7M+45.8% | $11.4M-6.9% | $12.3M-15.6% | $14.5M |
| Retained Earnings | -$94.8M-2.8% | -$92.2M-1.6% | -$90.8M-2.4% | -$88.6M-2.7% | -$86.3M-3.6% | -$83.3M-3.5% | -$80.4M-2.7% | -$78.3M |
LIQT Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.1M-99.3% | -$1.1M+33.6% | -$1.6M-24.2% | -$1.3M+35.3% | -$2.0M-14.7% | -$1.7M+4.1% | -$1.8M+6.8% | -$2.0M |
| Capital Expenditures | $166K+31.3% | $127K+307.1% | -$61K-137.4% | $163K-58.1% | $390K+6.8% | $365K+64.1% | $223K-42.8% | $389K |
| Free Cash Flow | -$2.3M-92.1% | -$1.2M+28.5% | -$1.7M-14.5% | -$1.5M+39.0% | -$2.4M-13.3% | -$2.1M-3.3% | -$2.0M+12.8% | -$2.3M |
| Investing Cash Flow | -$45K+64.2% | -$125K-298.9% | $63K+156.8% | -$111K+72.0% | -$395K-9.2% | -$362K-65.6% | -$219K-139.6% | $552K |
| Financing Cash Flow | -$68K+2.5% | -$69K+47.9% | -$133K-113.5% | $990K-88.5% | $8.6M+771.1% | $989K+1035.9% | -$106K+89.5% | -$1.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LIQT Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -3.4%-23.1pp | 19.6%+9.9pp | 9.8%+7.1pp | 2.7%+18.2pp | -15.5%-7.0pp | -8.5%-24.4pp | 16.0%+9.6pp | 6.4% |
| Operating Margin | -85.8%-50.8pp | -35.0%+7.5pp | -42.6%+4.8pp | -47.3%+33.9pp | -81.2%+23.3pp | -104.5%-58.0pp | -46.5%+1.8pp | -48.3% |
| Net Margin | -83.0%-45.3pp | -37.6%+5.8pp | -43.4%+7.5pp | -50.9%+37.3pp | -88.2%+26.4pp | -114.6%-67.5pp | -47.1%+9.3pp | -56.4% |
| Return on Equity | -24.9%-13.7pp | -11.2%+4.3pp | -15.4%+0.2pp | -15.6%+2.4pp | -18.0%+6.8pp | -24.9%-7.7pp | -17.2%-0.8pp | -16.4% |
| Return on Assets | -9.5%-4.8pp | -4.7%+2.0pp | -6.8%+0.6pp | -7.4%+1.9pp | -9.3%+0.6pp | -9.9%-2.5pp | -7.4%+0.2pp | -7.6% |
| Current Ratio | 3.38-0.1 | 3.50-0.1 | 3.61-0.2 | 3.80-0.4 | 4.21+1.5 | 2.66-0.1 | 2.75-0.2 | 2.93 |
| Debt-to-Equity | 1.62+0.3 | 1.37+0.1 | 1.28+0.1 | 1.16+0.2 | 0.95-0.6 | 1.51+0.2 | 1.33+0.2 | 1.16 |
| FCF Margin | -73.5%-42.1pp | -31.4%+2.3pp | -33.7%-2.1pp | -31.6%+38.7pp | -70.3%+15.0pp | -85.3%-39.7pp | -45.6%+9.8pp | -55.4% |
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Frequently Asked Questions
What is Liqtech Internat's annual revenue?
Liqtech Internat (LIQT) reported $16.5M in total revenue for fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Liqtech Internat's revenue growing?
Liqtech Internat (LIQT) revenue grew by 13% year-over-year, from $14.6M to $16.5M in fiscal year 2025.
Is Liqtech Internat profitable?
No, Liqtech Internat (LIQT) reported a net income of -$8.5M in fiscal year 2025, with a net profit margin of -51.7%.
What is Liqtech Internat's EBITDA?
Liqtech Internat (LIQT) had EBITDA of -$6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Liqtech Internat's gross margin?
Liqtech Internat (LIQT) had a gross margin of 7.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Liqtech Internat's operating margin?
Liqtech Internat (LIQT) had an operating margin of -50.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Liqtech Internat's net profit margin?
Liqtech Internat (LIQT) had a net profit margin of -51.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Liqtech Internat's return on equity (ROE)?
Liqtech Internat (LIQT) has a return on equity of -81.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Liqtech Internat's free cash flow?
Liqtech Internat (LIQT) generated -$6.5M in free cash flow during fiscal year 2025. This represents a 26.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Liqtech Internat's operating cash flow?
Liqtech Internat (LIQT) generated -$6.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Liqtech Internat's total assets?
Liqtech Internat (LIQT) had $27.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Liqtech Internat's capital expenditures?
Liqtech Internat (LIQT) invested $395K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Liqtech Internat spend on research and development?
Liqtech Internat (LIQT) invested $1.2M in research and development during fiscal year 2025.
What is Liqtech Internat's current ratio?
Liqtech Internat (LIQT) had a current ratio of 3.38 as of fiscal year 2025, which is generally considered healthy.
What is Liqtech Internat's debt-to-equity ratio?
Liqtech Internat (LIQT) had a debt-to-equity ratio of 1.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Liqtech Internat's return on assets (ROA)?
Liqtech Internat (LIQT) had a return on assets of -31.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Liqtech Internat's cash runway?
Based on fiscal year 2025 data, Liqtech Internat (LIQT) had $5.1M in cash against an annual operating cash burn of $6.1M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Liqtech Internat's Piotroski F-Score?
Liqtech Internat (LIQT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Liqtech Internat's earnings high quality?
Liqtech Internat (LIQT) has an earnings quality ratio of 0.72x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Liqtech Internat?
Liqtech Internat (LIQT) scores 32 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.