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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