Financial Data and Key Metrics Changes - The company reported revenue of nearly $5 million for Q2 2025, an increase from $4.5 million in Q2 2024 and $4.6 million in Q1 2025 [19] - Gross margin for Q2 2025 was 9.8%, down from 16% in the same period last year but improved from 2.7% in Q1 2025 [21] - Net loss for the quarter was $2 million, slightly better than the $2.1 million loss in the same period of 2024 [23] Business Line Data and Key Metrics Changes - Water system sales and related services generated $2.4 million, up from $1.9 million in Q2 2024 but down from $2.7 million in Q1 2025 [19] - DPF and ceramic membrane sales were $1.3 million, down from $1.7 million in Q2 2024 but up from $1 million in Q1 2025 [20] - Plastic revenue reached $1.2 million, compared to $900,000 in Q2 2024 and $1 million in Q1 2025 [20] Market Data and Key Metrics Changes - The swimming pool segment delivered six systems, generating nearly $800,000 in revenue, marking a significant increase from previous quarters [5][12] - The company anticipates continued year-over-year revenue improvements in the third and fourth quarters, with full-year revenue expected to be the highest in four years [6][17] Company Strategy and Development Direction - The company is focusing on expanding its presence in water treatment, particularly in the steel industry and swimming pool markets, while also pursuing pilot projects in various sectors [10][27] - Strategic partnerships, such as with ResoVac Direct, are being leveraged to enhance market reach and deliver tailored solutions [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational performance and revenue outlook for the remainder of the year, citing strong order flow and successful pilot projects [6][17] - The company is committed to addressing environmental challenges through its advanced filtration technologies, aiming to meet increasing global demand for sustainable solutions [25][27] Other Important Information - The company plans to record revenue on a percentage of completion basis for large orders, which is expected to stabilize financial reporting [8] - Cash at the end of the quarter was $8.7 million, down from $10.4 million at the end of Q1 2025 [23] Q&A Session Summary Question: Can you discuss the area of focus for the new Razorback pilot? - The focus is on an industry outside oil and gas, specifically in water treatment, with more details to be shared after receiving customer feedback [29] Question: What does the approval of the pilot at the US oil and gas industry application mean in terms of potential timing? - This approval allows for commercialization across the company, with expectations for exciting results in the near future [30] Question: What timing do you think will be for the bidding process in the marine segment? - The bidding process is expected to occur in Q3, with developments anticipated in the next two months [31] Question: Based on your full year guide, does that mean you will be EBITDA profitable in Q4? - The company expects Q4 to potentially be EBITDA positive, depending on sales volume and mix [34]

Core Insights - LiqTech International, Inc. has received an order for an advanced membrane-based filtration system from North Star BlueScope Steel to treat oily wastewater [1][2] - The system is set to be commissioned in the second half of 2025 and aims to address filtration process challenges due to high oil content and variability in wastewater quality [2][3] - LiqTech's Silicon Carbide (SiC) membrane technology is designed for harsh industrial conditions, enhancing process stability and water recovery efficiency [3][4] Company Overview - LiqTech International, Inc. specializes in clean technology, manufacturing and marketing advanced filtration products for liquid and gas applications [6] - The company was founded in 2000 and its patented SiC membranes are utilized in various sectors including industrial and municipal water treatment, marine scrubbers, and oil & gas applications [6] Industry Trends - The project with North Star BlueScope Steel reflects a growing trend in the steel industry towards sustainable water management practices [5] - The addition of advanced wastewater pre-treatment filtration supports broader water reclamation initiatives within the industry [5]