The following is a summary of the LiqTech International, Inc. (LIQT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• LiqTech reported Q1 revenue of $4.2 million, a 6% increase from Q1 of 2023 with strength in its DPF and ceramic membrane businesses contributing to this increase.

• The company expects Q2 revenue to range between $5 million and $5.5 million, signifying a sequential growth of 20% to 30%.

• The gross profit margin reported was approximately 6.4%, a decrease from 9.8% from the same quarter of the previous year.

• Total operating expenses for Q1 were $2.3 million, down by 10% from Q1 of 2023.

• The company reported a net loss of $2.4 million, in line with the net loss of Q1 of 2023, and ended the quarter with a cash reserve of $7.7 million.

Business Progress:

• LiqTech secured its first U.S.-based oil and gas produced water order as part of a new distribution agreement with Razorback Direct, bolstering their industry presence.

• Significant partnerships with Dan Marine Group and Franman were established to extend market presence in Chinese shipbuilding, repair, and Greece.

• Efforts are focused on penetrating global oil and gas, chemicals, and pool system markets and compressing delivery lead times without compromising product quality.

• LiqTech aims to break even with a quarterly revenue target of $7 million and is focused on increasing efficiency with existing distributors to drive sales and overall revenue.

More details: LiqTech International IR

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