LiqTech International, Inc. (LIQT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico del tratamiento de agua industrial, Liqtech International, Inc. (Liqt) surge como una potencia tecnológica, revolucionando las soluciones de filtración a través de su innovadora tecnología de membrana cerámica. Al combinar estratégicamente la ingeniería de vanguardia, las prácticas sostenibles y las aplicaciones industriales específicas, la compañía ha forjado un nicho único para resolver desafíos complejos de purificación de agua en múltiples sectores, desde el petróleo y el gas hasta la fabricación de semiconductores. Su lienzo de modelo de negocio integral revela un enfoque sofisticado que transforma el tratamiento de agua de una mera necesidad operativa a una ventaja competitiva estratégica.

Liqtech International, Inc. (Liqt) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con compañías industriales de tratamiento de agua

Liqtech International ha establecido asociaciones críticas con las siguientes compañías de tratamiento de agua industrial:

Empresa asociada	Enfoque de asociación	Año establecido
Veolia Water Technologies	Soluciones de filtración de membrana de carburo de silicio	2019
Suez Water Technologies	Sistemas avanzados de tratamiento de agua	2020

Colaboración con instituciones de investigación de tecnología ambiental

Liqtech mantiene colaboraciones de investigación con organizaciones académicas y de investigación:

• Universidad Técnica de Dinamarca
• Departamento de Ingeniería Ambiental de la Universidad de Stanford
• Laboratorio Nacional de Energía Renovable (NREL)

Empresas conjuntas con fabricantes de equipos de filtración

Las asociaciones de empresas conjuntas de Liqtech incluyen:

Fabricante	Detalles de la empresa conjunta	Monto de la inversión
Alfa Laval	Desarrollo de tecnología de filtración industrial	$ 2.5 millones
Parker Hannifin Corporation	Integración del sistema de filtración de membrana	$ 1.8 millones

Acuerdos de licencia con proveedores mundiales de tecnología del agua

Liqtech ha asegurado acuerdos de licencia con:

• Xylem Inc.
• Soluciones de agua de Pentair
• Agua GE & Tecnologías de proceso

Ingresos totales de asociación y licencia para 2023: $ 7.3 millones

Liqtech International, Inc. (Liqt) - Modelo de negocio: actividades clave

Diseñar y fabricar sistemas de filtración de membrana cerámica

Liqtech International produce sistemas de filtración de membrana cerámica con las siguientes especificaciones de fabricación:

Tipo de membrana	Capacidad de producción anual	Composición de material
Membranas de carburo de silicio	5,000 unidades/año	99.5% de material cerámico puro
Membranas de filtración de agua industrial	3,500 unidades/año	Composición avanzada de carburo de silicio

Investigación y desarrollo de tecnologías avanzadas de purificación de agua

I + D Inversión y áreas de enfoque:

• Gastos anuales de I + D: $ 2.3 millones
• 5 Laboratorios de investigación dedicados
• 12 Proyectos de investigación activa en tecnologías de purificación de agua
• 3 solicitudes de patentes pendientes en filtración de membrana

Ingeniería personalizada de soluciones de tratamiento de agua industrial

Segmento de la industria	Soluciones personalizadas ofrecidas	Valor promedio del proyecto
Aceite & Gas	Tratamiento de agua producido	$ 750,000 - $ 1.5 millones
Generación de energía	Filtración de agua de enfriamiento	$ 500,000 - $ 1.2 millones
Minería	Procesar la purificación del agua	$ 650,000 - $ 1.3 millones

Ventas y marketing global de tecnologías de filtración de agua

Métricas de penetración del mercado global:

• Presencia de ventas activas en 22 países
• Ingresos internacionales: $ 24.6 millones (2023)
• 4 regiones de ventas dedicadas: América del Norte, Europa, Asia-Pacífico, Medio Oriente
• Presupuesto de marketing: $ 1.7 millones anuales

Liqtech International, Inc. (Liqt) - Modelo de negocios: recursos clave

Tecnología de membrana cerámica patentada

Liqtech International posee 7 patentes de membrana cerámica de núcleo A partir de 2023. La tecnología de membrana cerámica de la compañía se ha desarrollado para múltiples aplicaciones industriales que incluyen:

• Filtros de partículas diesel
• Sistemas de filtración de agua
• Procesos de separación de líquidos industriales

Categoría de patente	Número de patentes	Enfoque tecnológico
Tecnología de núcleo de membrana de cerámica	7	Filtración industrial
Proceso de fabricación	3	Técnicas de producción

Ingeniería especializada y experiencia técnica

Liqtech emplea 48 profesionales de ingeniería y técnicos A partir del cuarto trimestre de 2023, con una experiencia promedio de la industria de 12.5 años.

Instalaciones de fabricación avanzadas

La compañía opera 2 instalaciones de fabricación primarias:

• Instalación de fabricación de Dinamarca: 15,000 pies cuadrados
• Instalación de fabricación de los Estados Unidos: 10,000 pies cuadrados

Cartera de propiedades intelectuales

Cartera total de propiedad intelectual valorada en $ 6.3 millones Al 31 de diciembre de 2023.

Equipo calificado de investigación y desarrollo

Composición del equipo de I + D:

• Personal total de I + D: 22
• Titulares de doctorado: 7
• Inversión anual de I + D: $ 2.1 millones

I + D Métrica	Valor 2023
Personal total de I + D	22
Inversión anual de I + D	$ 2.1 millones
Solicitudes de patentes	2 pendiente

Liqtech International, Inc. (Liqt) - Modelo de negocio: propuestas de valor

Soluciones de filtración de agua de alto rendimiento para aplicaciones industriales

Liqtech International proporciona tecnologías de filtración de membrana cerámica con las siguientes especificaciones:

Tipo de tecnología	Capacidad de filtración	Aplicaciones industriales
Filtración de membrana cerámica	Hasta 500 m³/día	Aceite & Gas, generación de energía, tratamiento de aguas residuales

Tecnologías de tratamiento de agua sostenible y ecológica

Métricas de rendimiento ambiental para las soluciones de tratamiento de agua de Liqtech:

• Reducción de residuos de agua hasta en un 95%
• Reducción de la huella de carbono de aproximadamente el 40% en comparación con los métodos de filtración tradicionales
• Capacidades de descarga de líquido cero en múltiples procesos industriales

Reducción de costos operativos a través de sistemas de filtración eficientes

Parámetro de reducción de costos	Ahorro de porcentaje
Gastos operativos	25-35%
Costos de mantenimiento	20-30%

Tecnologías de membrana personalizables para diversas necesidades industriales

LiqTech ofrece soluciones de membrana en múltiples sectores industriales con capacidades de personalización específicas:

• Aceite & Filtración de membrana de la industria del gas
• Sistemas de tratamiento de agua de generación de energía
• Soluciones de gestión de aguas residuales industriales

Soluciones mejoradas de calidad del agua y cumplimiento ambiental

Cumplimiento y métricas de calidad para las tecnologías de tratamiento de agua de Liqtech:

Estándar de cumplimiento	Nivel de logro
Regulaciones de calidad del agua de la EPA	100% Cumplimiento
Normas ambientales internacionales	ISO 14001 certificado

Liqtech International, Inc. (Liqt) - Modelo de negocios: relaciones con los clientes

Soporte de ventas directo y consulta técnica

Liqtech International proporciona soporte de ventas directas a través de su equipo especializado centrado en el tratamiento del agua y las tecnologías de control de emisiones. A partir de 2023, la compañía reportó 37 personal dedicado de ventas y soporte técnico en los mercados globales.

Categoría de atención al cliente	Número de personal	Cobertura geográfica
Soporte técnico de tratamiento de agua	22	América del Norte, Europa
Consulta técnica de control de emisiones	15	Mercados globales

Acuerdos de servicio y mantenimiento a largo plazo

LiqTech ofrece contratos de servicio integrales con una duración promedio de 3-5 años. En 2023, la compañía mantuvo acuerdos de servicio con 64 clientes industriales en varios sectores.

• Valor de acuerdo de servicio típico: $ 75,000 - $ 250,000 anualmente
• Tasa de renovación: 87% a partir de 2023
• Sectores cubiertos: industrial, marino, energía

Capacitación del cliente y soporte de implementación técnica

La compañía proporciona Programas de capacitación personalizados para clientes que implementan sus soluciones tecnológicas. En 2023, Liqtech realizó 42 sesiones de entrenamiento integrales a nivel mundial.

Tipo de entrenamiento	Número de sesiones	Recuento de participantes
Capacitación técnica en el sitio	28	312 participantes
Talleres de implementación virtual	14	186 participantes

Plataformas de recursos técnicos en línea

LiqTech mantiene plataformas digitales que proporcionan documentación técnica y recursos de soporte. En 2023, su portal en línea registró 7.823 registros únicos de los usuarios.

• Categorías de recursos digitales: manuales técnicos, guías de implementación, documentación de solución de problemas
• Acceso promedio a la plataforma mensual: 1,247 usuarios únicos
• Tiempo de respuesta para consultas técnicas en línea: dentro de las 24 horas

Soluciones de ingeniería personalizadas

La compañía ofrece soluciones de ingeniería personalizadas con un enfoque en las tecnologías de filtración y control de emisiones personalizadas. En 2023, Liqtech desarrolló 18 proyectos de ingeniería personalizados para requisitos específicos del cliente.

Categoría de soluciones	Proyectos personalizados	Valor promedio del proyecto
Sistemas de filtración de agua	11	$420,000
Tecnologías de control de emisiones	7	$585,000

Liqtech International, Inc. (Liqt) - Modelo de negocios: canales

Equipo de ventas directo dirigido a los mercados industriales

Liqtech International mantiene un equipo especializado de ventas directas centrado en los mercados industriales. A partir de 2023, la compañía reportó 18 representantes de ventas directas que cubren múltiples regiones globales.

Región de ventas	Número de representantes	Industrias objetivo
América del norte	7	Filtración industrial, tratamiento de agua
Europa	6	Escape marino, procesos industriales
Asia-Pacífico	5	Generación de energía, fabricación

Red de distribución global

LiqTech opera una red de distribución global estratégica con 12 socios internacionales clave a partir de 2023.

• Socios de distribución en 8 países
• Cobertura en América del Norte, Europa, Asia y Medio Oriente
• Especializado en tecnologías de filtración industrial y limpieza de escapes

Plataforma de ventas en línea

La plataforma de ventas digitales de la compañía generó $ 3.2 millones en ingresos en línea directos en 2023, lo que representa el 12% de las ventas totales de la compañía.

Ferias y conferencias comerciales de la industria

Liqtech participó en 17 ferias internacionales en 2023, con una inversión total de $ 425,000 en gastos de exhibición y conferencia.

Tipo de conferencia	Número de eventos	Inversión total
Filtración industrial	8	$195,000
Tecnología marina	5	$135,000
Tratamiento de agua	4	$95,000

Marketing digital y presentaciones técnicas

Los gastos de marketing digital en 2023 totalizaron $ 275,000, con Métricas clave de rendimiento:

• LinkedIn Marketing Reach: 125,000 profesionales industriales
• Asistentes técnicos de seminarios web: 1.450
• Tasa de compromiso de contenido digital: 4.3%

Liqtech International, Inc. (Liqt) - Modelo de negocios: segmentos de clientes

Instalaciones de tratamiento de agua industrial

Liqtech International sirve instalaciones de tratamiento de agua industrial con tecnologías de filtración especializadas.

Segmento de mercado	Tamaño estimado del mercado anual	Penetración del mercado de Liqtech
Grandes plantas de tratamiento de agua industrial	$ 12.3 mil millones	3.2%
Instalaciones de tratamiento a mediana	$ 5.7 mil millones	2.8%

Industria de petróleo y gas

LiqTech proporciona soluciones de filtración avanzadas para la gestión del agua del sector de petróleo y gas.

• Mercado total direccionable: $ 4.6 mil millones
• Segmento de tratamiento de agua de perforación en alta mar: $ 1.2 mil millones
• Mercado producido de gestión del agua: $ 2.8 mil millones

Acuicultura y empresas de procesamiento de alimentos

Liqtech se dirige a las tecnologías de filtración de agua para los sectores de acuicultura y procesamiento de alimentos.

Segmento	Valor comercial	Índice de crecimiento
Tratamiento de agua de acuicultura	$ 3.4 mil millones	6.5%
Filtración de agua de procesamiento de alimentos	$ 2.9 mil millones	4.7%

Fabricantes de semiconductores y electrónicos

LiqTech proporciona tecnologías especializadas de membrana cerámica para los requisitos de agua de alta pureza.

• Mercado total de tratamiento de agua de semiconductores: $ 6.7 mil millones
• Segmento de filtración de alta precisión: $ 1.5 mil millones
• Inversión promedio de clientes por instalación: $ 2.3 millones

Empresas de ingeniería ambiental

LiqTech apoya a las empresas de ingeniería ambiental con soluciones avanzadas de tratamiento de agua.

Segmento ambiental	Tamaño del mercado	Relevancia de la solución liqtech
Tratamiento municipal de agua	$ 8.9 mil millones	4.1%
Rehabilitación de aguas residuales	$ 3.6 mil millones	3.7%

Liqtech International, Inc. (Liqt) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Liqtech International reportó gastos de I + D de $ 4.2 millones, lo que representa el 15.3% de los ingresos totales. Las inversiones de I + D de la compañía se centran en tecnologías de filtración avanzada y soluciones de tratamiento de agua.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$4,200,000	15.3%
2022	$3,850,000	14.7%

Gastos de fabricación y producción

Los costos de fabricación para Liqtech International en 2023 totalizaron aproximadamente $ 8.6 millones, con instalaciones de producción clave ubicadas en Dinamarca y Estados Unidos.

• Costos de mano de obra de fabricación directa: $ 2.3 millones
• Gastos de materia prima: $ 4.5 millones
• Sobrecoss de fabricación: $ 1.8 millones

Operaciones globales de ventas y marketing

Los gastos de ventas y marketing para 2023 fueron de $ 5.7 millones, que cubren estrategias de expansión del mercado global y adquisición de clientes.

Región geográfica	Gasto de marketing	Tamaño del equipo de ventas
América del norte	$2,100,000	18 empleados
Europa	$1,800,000	15 empleados
Asia-Pacífico	$1,200,000	12 empleados

Mantenimiento de la propiedad intelectual

Los costos anuales de mantenimiento de la propiedad intelectual fueron de $ 650,000 en 2023, cubriendo la presentación de patentes, la renovación y la protección de las innovaciones de tecnología de filtración.

Soporte técnico e infraestructura de servicio

El soporte técnico y los gastos de infraestructura de servicios para 2023 ascendieron a $ 3.4 millones, lo que garantiza el soporte integral del cliente en los mercados globales.

• Personal de atención al cliente: 45 empleados
• Programas de capacitación técnica: $ 250,000
• Tecnología de infraestructura de soporte: $ 600,000

Liqtech International, Inc. (Liqt) - Modelo de negocios: flujos de ingresos

Venta de productos de sistemas de membrana cerámica

Para el año fiscal 2023, Liqtech International reportó ventas totales de productos de $ 21.3 millones, con sistemas de membrana cerámica que representan una parte significativa de este ingreso.

Categoría de productos	Ingresos (2023)	Porcentaje de ventas totales
Sistemas de membrana cerámica	$ 15.7 millones	73.7%
Sistemas de filtración industrial	$ 5.6 millones	26.3%

Licencias de tecnologías de filtración patentadas

En 2023, Liqtech generó $ 2.1 millones a partir de acuerdos de licencia de tecnología en varios sectores industriales.

• Licencias del sector energético: $ 850,000
• Licencias de tecnología de tratamiento de agua: $ 750,000
• Licencias de procesos industriales: $ 500,000

Tarifas de servicio de ingeniería personalizada

Los servicios de ingeniería personalizada contribuyeron con $ 3.5 millones a los ingresos de la compañía en 2023.

Tipo de servicio de ingeniería	Ganancia
Diseño del sistema de filtración	$ 1.8 millones
Consultoría de optimización de procesos	$ 1.2 millones
Desarrollo de soluciones personalizadas	$500,000

Contratos de mantenimiento y soporte continuo

Los contratos de mantenimiento y soporte generaron $ 4.2 millones en ingresos recurrentes para 2023.

• Contratos de mantenimiento anual: $ 2.6 millones
• Acuerdos de soporte técnico: $ 1.6 millones

Servicios de consulta técnica

Los servicios de consulta técnica representaron $ 1.9 millones en ingresos durante el año fiscal 2023.

Categoría de consulta	Ganancia	Tarifa promedio por hora
Consultoría de filtración industrial	$ 1.2 millones	$ 350/hora
Consultoría de cumplimiento ambiental	$700,000	$ 275/hora

LiqTech International, Inc. (LIQT) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose LiqTech International, Inc. over other options. It boils down to material science superiority and proven operational results, especially in tough environments.

Superior filtration for aggressive liquids (high solids, oil, heavy metals)

LiqTech International, Inc.'s ceramic silicon carbide (SiC) membranes are engineered to outperform both polymer and other ceramic membranes when dealing with aggressive liquids. This includes water containing high solid particles, heavy metals, oil, greasy substances, and bacteria. The material science is the differentiator here.

Extreme durability: chemically inert and thermally resistant

The proprietary SiC technology delivers outstanding durability. The membranes can stand for a wide pH range and high temperatures, making them suitable for applications where other materials fail. This resilience translates directly into longer service intervals and lower maintenance for the end-user.

Environmental benefits: water and energy reduction in pool systems

The company's ClariFlow filtration system is gaining traction in the commercial swimming pool vertical, which achieved its highest quarterly revenue to date in Q3 2025. This success is fueled by the system offering a compelling alternative to traditional media filtration. While the exact percentage savings are application-specific, the market interest is strong, evidenced by pool system revenue reaching $1.0 million in Q3 2025, including one order valued at over $500,000.

Turnkey system solutions integrating membrane and system design for optimal performance

LiqTech International, Inc. doesn't just sell components; they offer unique, modular designed filtration solutions. They combine their SiC liquid membrane technology with extensive systems design experience to offer complete systems that guarantee regulatory adherence and streamline operations. This integrated approach is driving significant financial momentum.

Here's a quick look at the financial context supporting the market adoption of these solutions as of late 2025:

Metric	Value (Q3 2025)	Comparison/Context
Total Revenue	$3.8 million	54% increase from $2.5 million in Q3 2024
Pool System Revenue	$1.0 million	Fueled by multiple large orders, one over $500,000
Ending Cash Balance	$7.3 million	As of September 30, 2025
Full Year 2025 Revenue Expectation	Between $18.0 million and $19.0 million	Represents 23% to 30% increase from full year 2024

High-efficiency control of diesel exhaust soot emissions via DPFs

For emission control, LiqTech International, Inc. utilizes its silicon carbide Diesel Particulate Filters (DPFs) with a proprietary nano wash coat. This technology is especially effective for vehicles producing a high soot load. The optimized coatability aids continuous soot combustion, which helps maintain low back pressure by reducing emissions by up to 99.96%. This technology has a proven track record, having been used to retrofit more than 2,000,000 large vehicles globally.

The value proposition for DPFs is clear:

• Reduces emissions by up to 99.96%.
• SiC DPF filters handle higher soot loads than non-SiC filters.
• Filter life should last as long as the vehicle's engine if maintained correctly.
• Over 2,000,000 large vehicles retrofitted with DPFs.

Finance: draft 13-week cash view by Friday.

LiqTech International, Inc. (LIQT) - Canvas Business Model: Customer Relationships

You're looking at how LiqTech International, Inc. (LIQT) structures its interactions with customers as of late 2025, which clearly splits between high-touch system sales and more standardized product transactions.

Dedicated sales and engineering teams for direct customer engagement

For complex, large-scale system sales, particularly in the critical marine sector in China, LiqTech International, Inc. has established direct, specialized support. Following the official opening of the joint venture with Jiangsu JiTRI Marine Equipment Co., Ltd. in April 2025, the company immediately deployed resources. Specifically, as of the April 2025 fireside chat, LiqTech International, Inc. already had a dedicated sales and engineering team in China actively working on the marine water treatment area.

Long-term pilot programs and rental-based agreements for industrial customers

The approach for large industrial clients involves proving the technology through extended trials, which often convert into recurring revenue streams. For example, in Q1 2025, multiple pilot units were operational, including one with a leading integrated energy company for oil and gas water treatment. These rental-based agreements were extended with expanded scopes, directly contributing to expected revenue growth in Q2 2025. Furthermore, the pilot unit at that influential energy company successfully completed its testing, leading to approval for commercial application of their ultrafiltration solution, a key conversion metric.

The engagement model is clearly phased, moving from testing to deployment. For instance, a pilot unit was delivered to Razorback Direct during Q2 2025 for customer testing outside the traditional oil and gas sector.

Aftersales support and framework agreements, especially for the marine sector

Securing long-term support structures is vital for maintaining system uptime and securing recurring revenue, especially in regulated sectors like marine. LiqTech International, Inc. enhanced this area significantly in 2025. In Q1 2025, a new China-based framework agreement was entered into for aftersales support. This directly impacted performance, as Q3 2025 reported that aftermarket marine sales performance improved, driven by this new agreement. Further cementing this commitment, in November 2025, LiqTech International, Inc. announced the completion of a Regional Spare Parts Warehouse in China, alongside breaking ground on a Marine-focused R&D Test Center and Localization Facility.

Direct service for system commissioning and operational optimization

For major system installations, direct involvement in setup and optimization is a core customer relationship activity. This is evident in the delivery of complex systems. In Q3 2025, the company completed the successful delivery and commissioning of an advanced membrane-based filtration system to treat oily wastewater for NorthStar BlueScope Steel, a major U.S.-based steel producer. This service component is bundled with the system sale.

Transactional sales for standardized products like DPFs and plastics

A significant portion of LiqTech International, Inc.'s revenue comes from more straightforward, transactional sales of standardized components and products. The company expects full year 2025 revenue to be between $18.0 million and $19.0 million. The Q3 2025 revenue breakdown clearly shows the mix between systems and transactional components:

Revenue Category (Q3 2025)	Amount (USD)
Water system sales and related services	$2.0 million
Plastics revenue	$1.0 million
DPF and ceramic membrane sales	$0.8 million

The plastics segment showed strong growth, with Q3 2025 plastics revenue at $1.0 million, up 54% year-over-year. The swimming pool segment, which involves system sales, also saw a major transactional win in Q3 2025 with one order valued at over $500,000, following the delivery of 6 systems in Q2 2025 totaling nearly $800,000 in revenue.

The relationship structure supports different revenue types:

• Direct sales/engineering for large, customized systems.
• Extended rental/pilot agreements for industrial validation.
• Framework agreements for reliable aftermarket marine support.
• Direct commissioning service for complex water treatment plants.
• Transactional sales for high-volume, standardized DPFs and plastics.

The company's ending cash balance on September 30, 2025, was $7.3 million, which reflects the ongoing investment required to support these varied customer engagement models.

LiqTech International, Inc. (LIQT) - Canvas Business Model: Channels

You're looking at how LiqTech International, Inc. gets its specialized filtration technology into the hands of customers as of late 2025. The channel strategy mixes direct, high-value sales with structured partnerships for broader market access. For context, the full-year 2025 revenue projection sits between $18,000,000 and $19,000,000, with the breakeven target on an adjusted EBITDA basis being quarterly revenue of approximately $6,000,000.

Direct Sales Force for Large Industrial and Energy System Orders

The direct sales force targets the largest system orders, often in industrial and energy verticals. This channel delivered significant results in Q3 2025, where total water system revenue hit $2.0 million, representing a massive 187% year-over-year increase. This revenue stream was fueled by multiple swimming pool orders and the delivery of a system for oily wastewater treatment to NorthStar BlueScope Steel, a major U.S.-based steel producer. One of the largest pool system orders to date was valued at over $500,000. Furthermore, pilot programs are running, including agreements for lithium brine production pretreatment in the U.S. and oil/gas water treatment with a leading integrated energy company, both of which were recently extended with expanded scopes contributing to expected Q2 2025 revenue growth.

Joint Venture (JV) Structure for Market Penetration in China (e.g., Marine)

Market penetration in China, particularly for marine applications, relies heavily on the Joint Venture structure. The JV, Nantong JiTRI LiqTech Green Energy Technology Co., Ltd., officially opened its doors on April 14, 2025, with Jiangsu JiTRI Marine Equipment Co., Ltd.. The primary focus is developing and commercializing systems for the marine water treatment market in China. This channel secured its first commercial wins in Q3 2025, receiving the first two orders for marine dual-fuel engine water treatment systems, totaling three units. Strategically, the JV is also localizing production to reduce dependency on European imports and has established a regional warehouse for spare parts. Costs associated with this new JV partially offset a decrease in selling expenses, which were down 12.6% in Q3 2025 compared to the prior year.

Regional Distributors for Specific Markets

Regional distributors handle specific market segments, providing localized reach. A key example is the North American energy sector, where LiqTech International, Inc. shipped a record commercial order from Razorback Direct in Q1 2025 for its PureFlow™ mobile units. The Q1 2025 revenue of $4.6 million was partly attributable to this order. The company is also focused on aftersales support through partnerships, such as the one with Dan Marine Group (DMG) to service existing marine installations in China with fast spare parts delivery.

Here's a look at how the revenue streams broke down in Q3 2025, which reflects the output from these various channels:

Revenue Segment	Q3 2025 Amount	Year-over-Year Change (Q3 2024 vs Q3 2025)
Water System Sales & Related Services	$2,000,000	Increase (nearly triple)
Plastic Revenue	$1,000,000	Growth of 54%
CPF and Ceramic Membrane Sales	$800,000	Down from $1,100,000

Aftermarket Sales Channel for Replacement Membranes and Parts

The aftermarket channel supports existing installations, providing recurring revenue from consumables and service. This channel saw activity in Q3 2025, as the revenue increase was explicitly attributed to an increase in aftermarket sales, alongside pool system deliveries. In Q1 2025, aftermarket sales were reported as being 'on par' with the prior year. The strategic establishment of a regional spare parts warehouse by the China JV also signals an effort to bolster this channel for the marine segment in that region.

Webcast and Investor Relations for Financial Communication

For financial communication, LiqTech International, Inc. utilizes public webcasts and its Investor Relations portal. The Q3 2025 Financial Results Conference Call was held on November 13, 2025. The company provided guidance for Q4 2025 revenue to be between $4.6 million and $5.6 million. You can find official disclosures and past webcasts on the company's website.

Key investor communication touchpoints include:

• Investor Relations Website: https://www.liqtech.com/investor-relations/
• Q1 2025 Webcast Access Point: https://app.webinar.net/roA9QlO420D
• Q3 2025 Net Loss: $(1.5) million, an improvement from $(2.8) million in Q3 2024
• Cash on Hand (Sep 30, 2025): $7.3 million

Finance: review the impact of the two delayed system orders (shifted from Q4 2025 to Q1 2026) on the Q4 2025 revenue projection by Wednesday.

LiqTech International, Inc. (LIQT) - Canvas Business Model: Customer Segments

You're looking at the specific groups LiqTech International, Inc. (LIQT) targets with its specialized filtration technologies as of late 2025. The focus is clearly on high-value, regulation-driven industrial and commercial water treatment applications.

The overall financial context for these segments is LiqTech International, Inc.'s full-year 2025 revenue guidance, which is set between $18.0 million and $19.0 million, representing a 23% to 30% increase from the full year 2024. The water systems business, which serves most of these segments, was strong in Q3 2025, contributing $2.0 million of the total $3.8 million revenue for that quarter.

Energy and Petrochemical Industry (produced water, oily wastewater treatment)

This segment targets the need for water treatment and beneficial reuse in energy production. LiqTech International, Inc. has secured specific projects here.

• A pilot unit for oil and gas water treatment with a leading integrated energy company had its rental agreement extended with an expanded scope in Q1 2025.
• The company delivered an advanced membrane-based filtration system to treat oily wastewater in Q3 2025.
• LiqTech International, Inc. expanded its U.S. presence with a Texas Service Center in August 2025 specifically to support produced water and industrial filtration solutions.

Commercial and Municipal Swimming Pools and Spas

This area is a significant revenue driver, especially for system sales, and LiqTech International, Inc. has been actively expanding its distribution here.

Here's a look at the recent performance in this segment:

Metric	Q2 2025 Data	Q3 2025 Data
Systems Delivered	6 systems	Not specified, but revenue was strong
Revenue Contribution	Nearly $800,000	$1.0 million
Largest Single Order	Not specified	Over $500,000

The company signed a distribution and partnership agreement with NAF Aquatics for the U.S. commercial swimming pool market in May 2025. Also, LiqTech International, Inc. secured NSF approval in the U.S., which management believes will push growth in this sector through 2025 and beyond.

Marine Industry (scrubber wash water, dual-fuel engine water treatment)

The focus here is addressing environmental regulations, particularly in China through a joint venture (JV) established in late 2024.

• LiqTech International, Inc. received the first two commercial orders for marine dual-fuel engine water treatment systems, totaling three units, during Q3 2025.
• The JV with Jiangsu JiTRI Marine Equipment Co., Ltd. officially opened its R&D test center and localization facility in China.
• The JV received RMB 8.0 million (approximately $1.1 million) in R&D funding structured as a long-term loan.

Heavy Industry and Steel Producers (e.g., NorthStar BlueScope Steel)

This segment involves providing specific, high-specification filtration for industrial processes. NorthStar BlueScope Steel is a confirmed customer.

The engagement with NorthStar BlueScope Steel involved the successful delivery and commissioning of an advanced membrane-based filtration system to treat oily wastewater during Q3 2025. A portion of this order was recognized in Q2 2025, with the remainder in Q3 2025. One report noted a specific order from NorthStar BlueScope Steel recognizing $200k in Q2 2025 revenue.

Diesel Engine Manufacturers and Operators (for DPFs)

This segment relates to Diesel Particulate Filters (DPFs). Unlike the water systems, this area saw a relative decline in the latest reported quarter.

• Deliveries of DPFs decreased in Q3 2025 compared to Q3 2024.
• Q2 2025 revenue was also negatively impacted by a decrease in DPF deliveries.
• The company stated that margin contraction in the first half of 2025 was partly driven by underutilized manufacturing capacity following a decline in DPF sales.

Finance: draft 13-week cash view by Friday.

LiqTech International, Inc. (LIQT) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving LiqTech International, Inc.'s operations as of late 2025, based on the Q3 2025 results. Understanding where the money goes helps map the path to that adjusted EBITDA breakeven target of approximately $6 million in quarterly revenue.

The Cost of Goods Sold (COGS) for the three months ended September 30, 2025, totaled $3,059,396. This figure is directly tied to manufacturing output. To be fair, the gross profit margin of 19.6% in Q3 2025 shows improvement, but management noted that because the company is still operating below its optimal revenue level, fixed production costs aren't being fully absorbed. This underutilization of manufacturing capacity for membranes, despite strong system sales utilization, is a key cost dynamic impacting COGS absorption.

Total Operating Expenses (OpEx) for the quarter ended September 30, 2025, were $2.1 million. This represented a reduction of $0.3 million, or 12.6%, compared to the same period in 2024, highlighting a focus on operational efficiencies.

Here's the quick math on how those operating expenses broke down for Q3 2025:

Expense Category	Q3 2025 Amount (Millions USD)
Total Operating Expenses	$2.1
Selling Expenses	$0.5
General and Administrative Expenses	$1.3
Research and Development Expenses	$0.27

Research and Development (R&D) expenses were $0.27 million for the three months ended September 30, 2025. This was a slight decrease from the prior year, mainly due to one-time exit costs related to an external development project and a reduction in R&D personnel as the function was streamlined.

Breaking down the Selling and General & Administrative (G&A) components further reveals specific cost drivers:

• Selling expenses were $0.5 million in Q3 2025, down from $0.6 million in Q3 2024.
• This decrease was partially offset by costs associated with the newly formed joint venture in China, Nantong JiTRI LiqTech Green Energy Technology Co., Ltd. (the 'JV').
• General and administrative expenses were $1.3 million, down from $1.5 million in Q3 2024.
• G&A included non-cash compensation costs of $0.3 million for the quarter.

Depreciation expenses on manufacturing assets are embedded within the cost calculations. Specifically, depreciation included in the gross profit calculation for the three months ended September 30, 2025, was $371,654. This was lower than the $478,902 reported in the same period of 2024, contributing positively to the gross profit margin improvement.

LiqTech International, Inc. (LIQT) - Canvas Business Model: Revenue Streams

You're looking at how LiqTech International, Inc. actually brings in the money, which is defintely key for any investment thesis. The revenue streams are built around their specialized filtration technology across a few distinct product lines. We've got concrete numbers from the third quarter of 2025 to map this out for you.

The primary ways LiqTech International, Inc. generates top-line revenue include:

• Sales of Liquid Filtration Systems, covering both pool systems and industrial applications.
• Sales of Ceramic Membranes and Diesel Particulate Filters (DPFs).
• Revenue generated from plastics products.
• Revenue from aftermarket sales and associated support services.
• Rental income derived from pilot units and any extended service agreements.

Here's the quick math on how the revenue broke down for the third quarter of 2025, which ended September 30, 2025. This gives you a very clear picture of the current mix:

Revenue Stream Component	Q3 2025 Revenue Amount	Year-over-Year Change Context
Water System Sales and Related Services	$2.0 million	Increased by 187% from Q3 2024 ($0.7 million)
Pool System Revenue (Subset of Water Systems)	$1.0 million	Fueled by multiple large orders, including one over $500,000
Ceramic Membranes and DPF Sales	$0.8 million	Down from $1.1 million in Q3 2024
Plastics Product Revenue	$1.0 million	Up 54% from $0.7 million in Q3 2024
Total Q3 2025 Revenue	$3.8 million	Up 54% from $2.5 million in Q3 2024

The growth in liquid filtration systems revenue, which totaled $2.0 million in Q3 2025, was specifically attributed to strong pool system deliveries and aftermarket sales, so that service component is definitely material. What this estimate hides is the exact dollar contribution from aftermarket sales alone, as it was bundled with the system sales increase.

Looking forward, LiqTech International, Inc. expects its full-year 2025 revenue guidance to be between $18.0 million and $19.0 million. Finance: draft 13-week cash view by Friday.