LiqTech Reports Narrower Annual Loss

(RTTNews) - LiqTech International, Inc. (LIQT), a filtration technology provider for the purification of liquids and gasses, Thursday registered a narrower loss for the full year, reflecting an increase in revenue and reduced expenses.

For the 12-month period, the firm registered a net loss of $8.571 million or $1.51 per share, narrower than loss of $14.169 million or $3.20 per share, posted last year.

Pre-tax loss stood at $8.777 million, compared with loss of $14.406 million in the previous year.

Total operating expenses narrowed to $10.574 million from last year's $13.100 million.

Total other expenses dropped to $978,302 from $1.872 million in 2022. Revenue was $18.001 million, up from $15.982 million a year ago.

The increase in revenue was mainly due to $2.4 million, or 46 percent, growth in system sales led by pool and marine system deliveries as well as oil & gas and industrial system applications. Looking ahead, for the first-quarter, LiqTech expects revenue of $4.1 million to $4.3 million.