LiqTech International, Inc. reports news on its clean-technology filtration business, including ceramic silicon carbide membranes, membrane-based liquid filtration systems, diesel particulate filters and plastic components. Company updates commonly address QlariFlow™ commercial pool filtration systems, system orders, regional partnerships and deployments for public, institutional and commercial aquatic facilities.
Recurring announcements also cover quarterly and annual results, revenue trends in systems and aftermarket activity, cash and profitability measures, and governance changes such as board appointments. The company's releases connect its filtration platforms to end markets that require water treatment, emissions control and specialized industrial components.
LiqTech International, Inc. (NASDAQ: LIQT), a clean technology firm, will announce its Q2 2022 financial results on August 11, 2022, before the market opens. A conference call will follow at 9:00 a.m. ET to discuss these results. The company's advanced filtration products utilize proprietary silicon carbide technology for gas and liquid purification. Investors can access the call via phone or a live webcast. A replay will be available until August 18, 2022.
LiqTech International, Inc. (NASDAQ: LIQT) has appointed Fei Chen as President and CEO, effective on or before November 1, 2022. Chen, who has over 20 years of experience in global industrial management, will also join the Board of Directors. She previously held significant roles at Topsoe A/S and Grundfos A/S, focusing on clean energy and water treatment technologies. Interim CEO Alexander Buehler will continue as a Board member. Chen’s appointment is seen as a strategic move towards enhancing LiqTech's growth and innovation in the clean technology sector.
LiqTech International, Inc. (NASDAQ: LIQT) announced the completion of a private placement of $6 million in senior notes and warrants for 4,250,000 shares of common stock. The notes will mature in 24 months without interest, while the warrants have an exercise price of $0.65 per share and a five-year term. Proceeds will be utilized to repay the company's $13.5 million convertible note due in 2023. None of the securities will be registered under the Securities Act, limiting their sale without proper registration or exemptions.
LiqTech International, Inc. (NASDAQ: LIQT) announced a new order for its marine scrubber market, which includes two separate vessels to be delivered by the end of 2022. This order signals recovery in a market that has faced significant slowdowns due to the pandemic and shipping dynamics. Interim CEO Alex Buehler expressed optimism about increasing quotation activity and the potential for market normalization following a prolonged downturn. While this order is not significant in revenue terms, it represents a positive step in a strategic market.
LiqTech International, Inc. (NASDAQ: LIQT) announced the closing of its public offering of common stock and pre-funded warrants, raising approximately $26.45 million. The offering included the full exercise of the underwriters' option for an additional 6,900,000 shares at $0.50 per share, totaling 22,535,850 shares sold. The initial closing occurred on May 17, 2022, and the underwriters’ option on May 19, 2022. Notably, directors and officers, including Interim CEO Alexander J. Buehler, purchased 3,080,000 shares during the offering.
LiqTech International, Inc. (NASDAQ: LIQT) announced an underwritten public offering of 15,635,850 shares of common stock at $0.50 per share and pre-funded warrants for 30,425,000 shares at $0.499 each, aiming for roughly $23 million in gross proceeds before discounts. The offering is expected to close on May 17, 2022, pending usual conditions. Proceeds will be allocated for working capital, general corporate purposes, and the repayment of outstanding senior convertible notes. The offering is registered with the SEC under Form S-3.
LiqTech International (NASDAQ: LIQT) announced a proposed underwritten public offering of newly issued shares of common stock or pre-funded warrants. The offering is subject to market conditions, with underwriters granted a 30-day option to purchase up to an additional 15% of the offered shares. The proceeds will primarily be utilized for working capital, general corporate purposes, and repaying outstanding senior convertible notes. The move follows a shelf registration statement declared effective by the SEC on May 12, 2022.
LiqTech International reported a 9% revenue decrease in Q1 2022, totaling $3.6 million against $4.0 million in Q1 2021. Although gross margin improved to 6.8%, the net loss widened to $(3.7) million from $(2.5) million year-over-year. The company has taken steps to cut costs, including reducing headcount by 25% and suspending planned investments, while actively pursuing opportunities in the oil & gas sector and the U.S. acid filtration market. The cash balance decreased to $11.2 million compared to $17.5 million at the end of 2021.
LiqTech International, Inc. (NASDAQ: LIQT) has scheduled a conference call to discuss its first quarter 2022 financial results for the period ending March 31, 2022. The call will take place on Friday, May 13, 2022, at 8:00 a.m. ET. Interested parties can join by dialing (833) 535-2206 or via a live webcast available on the company's website. A replay of the call will be accessible until May 20, 2022.
LiqTech specializes in ceramic silicon carbide filtration technologies for gas and liquid purification.
LiqTech International reported a 19% decline in 2021 revenue, totaling $18.3 million, with a corresponding net loss of $11.1 million, up from $9.8 million in 2020. Despite challenges, including delayed orders in the marine scrubber market and reduced sales due to the pandemic, the company secured $15 million in convertible notes and reported a strong cash balance of $17.5 million. Looking ahead, LiqTech anticipates Q1 2022 revenue between $3.5 million to $4 million and full-year guidance of $25 million to $30 million.