LiqTech(US:LIQT)2025-11-14 12:15Revenue Performance - Revenue for the three months ended September 30, 2025, was $3,807,274, an increase of $1,329,053 or 53.6% compared to $2,478,221 for the same period in 2024[75] - Revenue for the nine months ended September 30, 2025, was $13,382,304, an increase of $2,183,677 or 19.5% compared to $11,198,627 for the same period in 2024[83] Gross Profit - Gross profit for the three months ended September 30, 2025, was $747,878, representing a gross profit margin of 19.6%, compared to a gross profit loss of $209,533 with a margin of -8.5% for the same period in 2024, marking an increase of $957,411 or 456.9%[76] - Gross profit for the nine months ended September 30, 2025, was $1,357,512, representing a gross profit margin of 10.1%, compared to $778,780 with a margin of 7.0% for the same period in 2024, marking an increase of $578,732 or 74.3%[82] Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $2,080,880, a decrease of $299,560 or 12.6% compared to $2,380,440 for the same period in 2024[77] - Total operating expenses for the nine months ended September 30, 2025, were $6,985,712, a decrease of $515,580, or 6.9% compared to $7,501,292 for the same period in 2024[85] Specific Expense Categories - Selling expenses for the three months ended September 30, 2025, were $541,259, a decrease of $69,454 or 11.4% compared to $610,713 for the same period in 2024[78] - General and administrative expenses for the three months ended September 30, 2025, were $1,270,195, a decrease of $221,171 or 14.8% compared to $1,491,366 for the same period in 2024[79] - Research and development expenses for the three months ended September 30, 2025, were $269,426, a decrease of $8,935 or 3.2% compared to $278,361 for the same period in 2024[80] - Selling expenses increased by $88,429, or 4.5%, to $2,071,843 for the nine months ended September 30, 2025, primarily due to lower sales commissions in 2024 and costs associated with a joint venture[86] - General and administrative expenses decreased by $405,649, or 8.9%, to $4,171,764 for the nine months ended September 30, 2025, mainly due to non-recurring costs in the prior year[87] - Research and development expenses decreased by $198,360, or 21.1%, to $742,105 for the nine months ended September 30, 2025, attributed to one-time exit costs from a prior project[88] Net Loss - Net loss for the three months ended September 30, 2025, was $1,459,762, a favorable change of $1,380,764 or 48.6% compared to a net loss of $2,840,526 for the same period in 2024[81] - The net loss for the nine months ended September 30, 2025, was $5,978,890, a decrease of $1,361,631, or 18.5% compared to the net loss of $7,340,521 in the same period in 2024[90] Cash Flow - Cash flows used in operating activities for the nine months ended September 30, 2025, were $3,977,121, a favorable change of $1,551,321 compared to $5,528,442 for the same period in 2024[96] - Cash flows provided from financing activities were $787,024 for the nine months ended September 30, 2025, a favorable change of $912,742 compared to cash flows used by financing activities of $125,718 in the prior year[98] Financial Position - As of September 30, 2025, the company had cash of $7,354,024 and net working capital of $13,406,883, a decrease of $2,329,926 compared to December 31, 2024[92]