- LiqTech International Inc LIQT reported a second-quarter revenue decline of 13.5% year-over-year to $4.02 million, missing the consensus of $4.07 million.
- EPS decreased to $(0.14) from $(0.12) in 2Q20, missing consensus of $(0.12).
- The gross margin contracted by 267 bps to 8%.
- Loss from operations expanded to $(2.56) million from $(1.94) million a year ago.
- LiqTech generated cash flow from operations of $0.4 million and held cash on hand and restricted cash of $25.1 million on June 30, 2021.
- LiqTech expects revenue to more than double in the second half of 2021, supported via overall improving market trends, coupled with breakthrough new orders and current backlog.
- Additionally, the company announced it had received the first order for a new offshore deep-sea drilling application in the oil & gas market.
- Price Action: LIQT shares are trading lower by 2.53% at $5.00 on the last check Monday.
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