The following is a summary of the LiqTech International, Inc. (LIQT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• LiqTech International Inc. reported a 13% increase in revenue growth and a 12% increase in gross margin.

• Operating expenses dropped by $2.5 million, improving the bottom line by $5.6 million.

• System sales and services contribution to revenue grew by 45%, standing at $7.7 million.

• The Diesel Particulate Filter and Ceramic Membrane business generated $6.2 million, despite a 9% decrease.

• LiqTech projects its breakeven revenue target to be $7 million per quarter and expects revenue growth of 3% to 8% for the next quarter.

Business Progress:

• LiqTech delivered 20 swimming pool systems in 2023 and now has over 120 installations across Europe and the Pacific Ocean regions.

• The company realigned its commercial strategy to expand and address customer needs in established business areas like diesel particulate filters, marine scrubbers, and commercial pool systems.

• LiqTech signed key distribution agreements to widen its commercial footprint and plans further expansion in 2024.

• The company secured significant commercial pilot orders from companies in the U.S and the Middle East, in a bid to expand its operations in the oil & gas market.

• LiqTech improved product quality and efficiency by standardizing all solutions for system markets.

• The company anticipates growth in various sectors, including the Diesel Particle Filter sector and progress in the ethylene glycol market in 2024.

More details: LiqTech International IR

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