LiqTech International, Inc. (LIQT) Income Statement
LIQT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLIQT revenue and net income
Where LIQT's revenue goes
2025Each bar shows an amount and its share of revenue. LIQT kept −51.7% of revenue as net income.
LIQT profit margins
LIQT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.0% | +1.1% | −6.0% | +0.4% |
| Gross profit | +398.4% | +30.2% | −10.2% | −9.0% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LIQT quarterly EPS vs estimates
LiqTech International beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.06).
LIQT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.5M | $14.6M | $18.0M | $16.0M | $18.3M | $22.5M | $32.6M | $12.2M | $11.3M | $13.9M |
| Cost of revenue | $15.3M | $14.4M | $15.2M | $15.4M | $16.7M | $20.4M | $25.5M | $11.2M | $11.1M | $12.5M |
| Gross profit | $1.3M | $250,905 | $2.8M | $567,144 | $1.6M | $2.1M | $7.2M | $1.1M | $206,751 | $1.4M |
| Research & development | $1.2M | $1.4M | $1.4M | $1.8M | $1.9M | $1.3M | $749,249 | $661,014 | $536,848 | $626,147 |
| Sales, general & admin | $8.4M | $8.4M | $9.2M | $9.4M | $10.4M | $9.1M | $7.0M | $4.9M | $4.3M | $6.6M |
| Total operating expenses | $9.6M | $9.7M | $10.6M | $13.1M | $12.3M | $10.4M | $7.7M | $5.6M | $4.8M | $7.2M |
| Operating income | −$8.3M | −$9.5M | −$7.8M | −$12.5M | −$10.7M | −$8.3M | −$577,122 | −$4.5M | −$4.6M | −$13.1M |
| Interest income | $445,496 | $178,834 | $311,570 | $384,058 | $371,467 | $139,513 | $73,635 | $28,401 | $1,515 | $968 |
| Interest expense | $315,458 | $167,556 | $151,670 | $419,942 | $708,176 | $120,903 | $18,831 | $71,781 | $45,888 | $38,945 |
| Income before taxes | −$8.6M | −$10.4M | −$8.8M | −$14.4M | −$11.2M | −$10.3M | −$257,636 | −$4.2M | −$4.8M | −$13.2M |
| Income taxes | −$75,711 | −$38,837 | −$206,207 | −$237,410 | −$63,036 | −$465,145 | −$297,252 | −$365,000 | −$318,000 | $3.2M |
| Net income | −$8.5M | −$10.3M | −$8.6M | −$14.2M | −$11.1M | −$9.8M | $39,616 | −$3.8M | −$4.5M | −$16.4M |
| EBITDA | −$6.0M | −$7.5M | −$5.5M | −$11.4M | −$7.7M | −$7.3M | $1.1M | −$3.5M | −$3.8M | −$11.8M |
| EPS (diluted) | −$0.85 | −$1.67 | −$1.49 | −$0.45 | −$4.20 | −$1.99 | $0.35 | −$1.84 | −$2.64 | −$4.64 |
| Gross margin | 7.6% | 1.7% | 15.4% | 3.5% | 8.6% | 9.5% | 21.9% | 8.7% | 1.8% | 10.3% |
| Operating margin | −50.3% | −65.0% | −43.3% | −78.4% | −58.5% | −36.6% | −1.8% | −36.7% | −40.6% | −94.5% |
| Net margin | −51.7% | −70.8% | −47.6% | −88.7% | −60.9% | −43.5% | 0.1% | −31.2% | −39.3% | −118.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4M | $4.1M | $3.1M | $3.8M | $5.0M | $4.6M | $3.4M | $2.5M | $4.5M | $4.2M | $3.9M | $5.1M |
| Cost of revenue | $4.0M | $3.7M | $3.2M | $3.1M | $4.5M | $4.5M | $3.9M | $2.7M | $3.8M | $4.0M | $3.7M | $4.1M |
| Gross profit | $365,539 | $393,744 | −$106,989 | $747,878 | $484,578 | $125,056 | −$527,875 | −$209,533 | $717,211 | $271,102 | $273,041 | $948,565 |
| Research & development | $271,745 | $276,134 | $421,546 | $269,426 | $242,556 | $230,123 | $411,595 | $278,361 | $407,292 | $254,812 | $287,839 | $428,600 |
| Sales, general & admin | $2.4M | $2.4M | $2.2M | $1.8M | $2.4M | $2.1M | $1.8M | $2.1M | $2.4M | $2.1M | $2.3M | $2.2M |
| Total operating expenses | $2.7M | $2.7M | $2.6M | $2.1M | $2.6M | $2.3M | $2.2M | $2.4M | $2.8M | $2.3M | $2.6M | $2.6M |
| Operating income | −$2.3M | −$2.3M | −$2.7M | −$1.3M | −$2.1M | −$2.2M | −$2.8M | −$2.6M | −$2.1M | −$2.0M | −$2.3M | −$1.7M |
| Interest income | $22,378 | $16,857 | $247,786 | $64,354 | $64,605 | $68,751 | $39,925 | $24,079 | $45,744 | $69,086 | $94,260 | $103,887 |
| Interest expense | $633,111 | $296,568 | $742,946 | $150,005 | $147,784 | $216,313 | $193,957 | $191,511 | $179,881 | $217,759 | $202,175 | $121,181 |
| Income before taxes | −$3.1M | −$2.7M | −$2.6M | −$1.5M | −$2.2M | −$2.4M | −$3.0M | −$2.9M | −$2.1M | −$2.4M | −$3.4M | −$1.4M |
| Income taxes | −$370 | −$15,364 | −$46,788 | −$28,224 | −$360 | −$339 | −$187 | −$10,061 | −$14,150 | −$14,439 | −$163,000 | −$14,480 |
| Net income | −$3.0M | −$2.7M | −$2.6M | −$1.4M | −$2.2M | −$2.4M | −$3.0M | −$2.8M | −$2.1M | −$2.4M | −$3.2M | −$1.4M |
| EBITDA | −$2.6M | −$1.9M | −$1.3M | −$828,172 | −$1.4M | −$1.6M | −$2.1M | −$1.9M | −$1.3M | −$1.5M | −$2.4M | −$508,172 |
| EPS (diluted) | −$0.14 | −$0.25 | −$0.27 | −$0.14 | −$0.22 | −$0.22 | −$0.38 | −$0.45 | −$0.37 | −$0.47 | −$0.57 | −$0.25 |
| Gross margin | 8.4% | 9.5% | −3.4% | 19.6% | 9.8% | 2.7% | −15.5% | −8.5% | 16.0% | 6.4% | 6.9% | 18.7% |
| Operating margin | −53.4% | −55.1% | −85.8% | −35.0% | −42.6% | −47.3% | −81.2% | −104.5% | −46.5% | −48.3% | −58.7% | −33.5% |
| Net margin | −69.1% | −65.5% | −83.0% | −37.6% | −43.4% | −50.9% | −88.2% | −114.6% | −47.1% | −56.4% | −81.7% | −27.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LIQT's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LIQT financial results
In fiscal year 2025 (ended December 31, 2025), LiqTech International reported revenue of $16.5 million, up 13.0% from the year before. It had a net loss of $8.5 million, a net profit margin of −51.7%. Diluted earnings per share came to −$0.85. Over five years revenue grew at an average rate of −6.0% a year.
See the LIQT stock overview for the latest quote and news, or the LIQT chart for price history and technical indicators.
LIQT income statement FAQ
What is LiqTech International's annual revenue?
LiqTech International reported total revenue of $16.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 13.0% from $14.6 million the previous year.
Is LiqTech International profitable?
No. LiqTech International reported a net loss of $8.5 million in fiscal 2025, a net profit margin of −51.7%; its operating margin was −50.3%.
What is LiqTech International's gross margin?
LiqTech International's gross margin was 7.6% in fiscal 2025: for every $100 of revenue, LiqTech International kept $8 after the direct cost of its products and services.
How much does LiqTech International spend on research and development?
LiqTech International spent $1.2 million on research and development in fiscal 2025, 7.0% of revenue.
How fast is LiqTech International growing?
Revenue grew −6.0% a year on average over the last five fiscal years, from $22.5 million to $16.5 million.
What are LiqTech International's earnings per share?
LiqTech International earned $-0.85 per diluted share in fiscal 2025, compared with $-1.67 a year earlier.
When will LiqTech International report its next earnings?
LiqTech International is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does LiqTech International's fiscal year end?
LiqTech International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.