Liqtech International, Inc. (LIQT): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Dans le monde dynamique du traitement de l'eau industrielle, Liqtech International, Inc. (LIQT) émerge comme une puissance technologique, révolutionnant des solutions de filtration grâce à sa technologie innovante de la membrane en céramique. En mélangeant stratégiquement l'ingénierie de pointe, les pratiques durables et les applications industrielles ciblées, la société a sculpté un créneau unique pour résoudre des défis complexes de purification de l'eau dans plusieurs secteurs - du pétrole et du gaz à la fabrication de semi-conducteurs. Leur toile complète du modèle commercial révèle une approche sophistiquée qui transforme le traitement de l'eau d'une simple nécessité opérationnelle en un avantage concurrentiel stratégique.

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: partenariats clés

Partenariats stratégiques avec les entreprises de traitement de l'eau industrielle

Liqtech International a établi des partenariats critiques avec les sociétés de traitement de l'eau industrielle suivantes:

Entreprise partenaire	Focus de partenariat	Année établie
Veolia Water Technologies	Solutions de filtration de la membrane en carbure de silicium	2019
Suez Water Technologies	Systèmes de traitement de l'eau avancés	2020

Collaboration avec les institutions de recherche sur la technologie environnementale

Liqtech maintient des collaborations de recherche avec des organisations universitaires et de recherche:

• Université technique du Danemark
• Département de génie environnemental de l'Université de Stanford
• Laboratoire national des énergies renouvelables (NREL)

Coentreprises avec des fabricants d'équipements de filtration

Les partenariats de coentreprise de Liqtech comprennent:

Fabricant	Détails de coentreprise	Montant d'investissement
Alfa Laval	Développement de la technologie de filtration industrielle	2,5 millions de dollars
Parker Hannifin Corporation	Intégration du système de filtration membranaire	1,8 million de dollars

Accords de licence avec les fournisseurs mondiaux de technologie de l'eau

Liqtech a obtenu des accords de licence avec:

• Xylem Inc.
• Pentair Water Solutions
• Eau Ge & Processus Technologies

Revenus de partenariat total et de licence pour 2023: 7,3 millions de dollars

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: Activités clés

Conception et fabrication de systèmes de filtration de la membrane en céramique

Liqtech International produit des systèmes de filtration de la membrane en céramique avec les spécifications de fabrication suivantes:

Type à membrane	Capacité de production annuelle	Composition des matériaux
Membranes en carbure de silicium	5 000 unités / an	99,5% de matériau en céramique pure
Membranes de filtration de l'eau industrielle	3 500 unités / an	Composition avancée en carbure de silicium

Recherche et développement des technologies avancées de purification de l'eau

Investissement en R&D et zones de mise au point:

• Dépenses annuelles de R&D: 2,3 millions de dollars
• 5 laboratoires de recherche dédiés
• 12 Projets de recherche actifs dans les technologies de purification de l'eau
• 3 demandes de brevet en instance en filtration membranaire

Ingénierie personnalisée des solutions de traitement de l'eau industrielle

Segment de l'industrie	Solutions personnalisées offertes	Valeur moyenne du projet
Huile & Gaz	Traitement de l'eau produit	750 000 $ - 1,5 million de dollars
Production d'électricité	Filtration d'eau de refroidissement	500 000 $ - 1,2 million de dollars
Exploitation minière	Traiter la purification de l'eau	650 000 $ - 1,3 million de dollars

Ventes et commercialisation mondiale des technologies de filtration sur l'eau

Mesures de pénétration du marché mondial:

• Présence commerciale active dans 22 pays
• Revenus internationaux: 24,6 millions de dollars (2023)
• 4 Régions de vente dédiées: Amérique du Nord, Europe, Asie-Pacifique, Moyen-Orient
• Budget marketing: 1,7 million de dollars par an

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: Ressources clés

Technologie de membrane en céramique propriétaire

Liqtech International détient 7 brevets de membrane en céramique de base En 2023. La technologie de la membrane en céramique de l'entreprise a été développée pour plusieurs applications industrielles, notamment:

• Filtres à particules diesel
• Systèmes de filtration d'eau
• Processus de séparation des liquides industriels

Catégorie de brevet	Nombre de brevets	Focus technologique
Technologie de base de la membrane en céramique	7	Filtration industrielle
Processus de fabrication	3	Techniques de production

Ingénierie spécialisée et expertise technique

Liqtech utilise 48 professionnels de l'ingénierie et techniques Au quatrième trimestre 2023, avec une expérience moyenne de l'industrie de 12,5 ans.

Installations de fabrication avancées

L'entreprise exploite 2 installations de fabrication primaires:

• Installation de fabrication du Danemark: 15 000 pieds carrés
• United States Manufacturing Facility: 10 000 pieds carrés

Portefeuille de propriété intellectuelle

Portfolio total de propriété intellectuelle évaluée à 6,3 millions de dollars Au 31 décembre 2023.

Équipe de recherche et développement qualifiée

Composition de l'équipe R&D:

• Personnel total de R&D: 22
• Tapisseurs de doctorat: 7
• Investissement annuel de R&D: 2,1 millions de dollars

Métrique de R&D	Valeur 2023
Personnel total de R&D	22
Investissement annuel de R&D	2,1 millions de dollars
Demandes de brevet	2 en attente

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: propositions de valeur

Solutions de filtration d'eau haute performance pour les applications industrielles

Liqtech International fournit des technologies de filtration des membranes en céramique avec les spécifications suivantes:

Type de technologie	Capacité de filtration	Applications industrielles
Filtration de la membrane en céramique	Jusqu'à 500 m³ / jour	Huile & Gaz, production d'électricité, traitement des eaux usées

Technologies de traitement de l'eau durables et respectueuses de l'environnement

Métriques de performance environnementale pour les solutions de traitement de l'eau de Liqtech:

• Réduction des déchets d'eau jusqu'à 95%
• Réduction de l'empreinte carbone d'environ 40% par rapport aux méthodes de filtration traditionnelles
• Capacités de décharge liquide zéro dans plusieurs processus industriels

Réduction des coûts opérationnels grâce à des systèmes de filtration efficaces

Paramètre de réduction des coûts	Pourcentage d'économies
Dépenses opérationnelles	25-35%
Frais de maintenance	20-30%

Technologies de membrane personnalisables pour divers besoins industriels

Liqtech propose des solutions membranaires dans plusieurs secteurs industriels avec des capacités de personnalisation spécifiques:

• Huile & Filtration de la membrane de l'industrie du gaz
• Systèmes de traitement de l'eau de production d'électricité
• Solutions de gestion des eaux usées industrielles

Solutions améliorées de qualité de l'eau et de conformité environnementale

Métriques de conformité et de qualité pour les technologies de traitement de l'eau de Liqtech:

Norme de conformité	Niveau de réussite
Règlement sur la qualité de l'eau de l'EPA	Compliance à 100%
Normes environnementales internationales	Certifié ISO 14001

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: relations clients

Assistance des ventes directes et consultation technique

Liqtech International fournit un soutien direct sur les ventes par le biais de son équipe spécialisée en se concentrant sur le traitement de l'eau et les technologies de contrôle des émissions. En 2023, la société a déclaré 37 membres du personnel de vente et de soutien technique dédié sur les marchés mondiaux.

Catégorie de support client	Nombre de personnel	Couverture géographique
Support technique du traitement de l'eau	22	Amérique du Nord, Europe
Consultation technique du contrôle des émissions	15	Marchés mondiaux

Accords de service et de maintenance à long terme

Liqtech propose des contrats de service complets avec une durée moyenne de 3 à 5 ans. En 2023, la société a maintenu des accords de service avec 64 clients industriels dans divers secteurs.

• Valeur de l'accord de service typique: 75 000 $ - 250 000 $ par an
• Taux de renouvellement: 87% en 2023
• Secteurs couverts: industriel, marin, énergie

Prise en charge de la formation client et de la mise en œuvre technique

La société fournit Programmes de formation personnalisés pour les clients mettant en œuvre leurs solutions technologiques. En 2023, Liqtech a organisé 42 séances de formation complètes dans le monde.

Type de formation	Nombre de sessions	Comptage des participants
Formation technique sur place	28	312 participants
Ateliers de mise en œuvre virtuelle	14	186 participants

Plateformes de ressources techniques en ligne

Liqtech maintient les plateformes numériques fournissant des ressources techniques et de support. En 2023, leur portail en ligne a enregistré 7 823 enregistrements d'utilisateurs uniques.

• Catégories de ressources numériques: manuels techniques, guides de mise en œuvre, documentation de dépannage
• Accès mensuel moyen mensuel: 1 247 utilisateurs uniques
• Temps de réponse pour les requêtes techniques en ligne: dans les 24 heures

Solutions d'ingénierie personnalisées

La société propose des solutions d'ingénierie sur mesure en mettant l'accent sur les technologies de filtration et de contrôle des émissions personnalisées. En 2023, Liqtech a développé 18 projets d'ingénierie personnalisés pour des exigences spécifiques des clients.

Catégorie de solution	Projets personnalisés	Valeur moyenne du projet
Systèmes de filtration d'eau	11	$420,000
Technologies de contrôle des émissions	7	$585,000

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les marchés industriels

Liqtech International maintient une équipe de vente directe spécialisée axée sur les marchés industriels. En 2023, la société a déclaré 18 représentants des ventes directes couvrant plusieurs régions mondiales.

Région de vente	Nombre de représentants	Industries cibles
Amérique du Nord	7	Filtration industrielle, traitement de l'eau
Europe	6	Échappement marin, processus industriels
Asie-Pacifique	5	Production d'énergie, fabrication

Réseau de distribution mondial

Liqtech exploite un réseau de distribution mondial stratégique avec 12 partenaires internationaux clés à partir de 2023.

• Partenaires de distribution dans 8 pays
• Couverture à travers l'Amérique du Nord, l'Europe, l'Asie et le Moyen-Orient
• Spécialisé dans les technologies de filtration et de nettoyage d'échappement industrielles

Plateforme de vente en ligne

La plate-forme de vente numérique de l'entreprise a généré 3,2 millions de dollars de revenus en ligne directs en 2023, ce qui représente 12% du total des ventes d'entreprises.

Salons et conférences de l'industrie

Liqtech a participé à 17 salons internationaux en 2023, avec un investissement total de 425 000 $ en frais d'exposition et de conférence.

Type de conférence	Nombre d'événements	Investissement total
Filtration industrielle	8	$195,000
Technologie marine	5	$135,000
Traitement de l'eau	4	$95,000

Marketing numérique et présentations techniques

Les dépenses de marketing numérique en 2023 ont totalisé 275 000 $, avec Mesures de performance clés:

• LinkedIn Marketing Reach: 125 000 professionnels industriels
• Participations au webinaire technique: 1 450
• Taux d'engagement du contenu numérique: 4,3%

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: segments de clientèle

Installations de traitement de l'eau industrielle

Liqtech International dessert les installations de traitement de l'eau industrielle avec des technologies de filtration spécialisées.

Segment de marché	Taille du marché annuel estimé	Pénétration du marché liqtech
Grandes usines de traitement de l'eau industrielle	12,3 milliards de dollars	3.2%
Installations de traitement à l'échelle moyenne	5,7 milliards de dollars	2.8%

Industrie du pétrole et du gaz

Liqtech fournit des solutions de filtration avancées pour la gestion de l'eau du secteur pétrolier et gazier.

• Marché total adressable: 4,6 milliards de dollars
• Segment de traitement de l'eau à forage offshore: 1,2 milliard de dollars
• Marché de la gestion de l'eau produits: 2,8 milliards de dollars

Aquaculture et entreprises de transformation des aliments

Liqtech cible les technologies de filtration d'eau pour les secteurs de l'aquaculture et de la transformation des aliments.

Segment	Valeur marchande	Taux de croissance
Traitement de l'eau aquaculture	3,4 milliards de dollars	6.5%
Filtration de l'eau de transformation des aliments	2,9 milliards de dollars	4.7%

Fabricants de semi-conducteurs et d'électronique

Liqtech fournit des technologies de membrane en céramique spécialisées pour les exigences en matière d'eau de haute pureté.

• Marché total du traitement de l'eau semi-conducteurs: 6,7 milliards de dollars
• Segment de filtration de haute précision: 1,5 milliard de dollars
• Investissement moyen client par facilité: 2,3 millions de dollars

Entreprises de génie de l'environnement

Liqtech soutient les sociétés d'ingénierie environnementale avec des solutions avancées de traitement de l'eau.

Segment environnemental	Taille du marché	Pertinence de solution liqtech
Traitement de l'eau municipale	8,9 milliards de dollars	4.1%
Réhabilitation des eaux usées	3,6 milliards de dollars	3.7%

Liqtech International, Inc. (LIQT) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Liqtech International a déclaré des dépenses de R&D de 4,2 millions de dollars, ce qui représente 15,3% des revenus totaux. Les investissements en R&D de l'entreprise se concentrent sur les technologies de filtration avancées et les solutions de traitement de l'eau.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	$4,200,000	15.3%
2022	$3,850,000	14.7%

Frais de fabrication et de production

Les coûts de fabrication de Liqtech International en 2023 ont totalisé environ 8,6 millions de dollars, avec des principales installations de production situées au Danemark et aux États-Unis.

• Coûts de main-d'œuvre de fabrication directe: 2,3 millions de dollars
• Dépenses de matières premières: 4,5 millions de dollars
• Fabrication des frais généraux: 1,8 million de dollars

Opérations mondiales de vente et de marketing

Les frais de vente et de marketing pour 2023 étaient de 5,7 millions de dollars, couvrant les stratégies d'expansion du marché mondial et d'acquisition des clients.

Région géographique	Dépenses marketing	Taille de l'équipe de vente
Amérique du Nord	$2,100,000	18 employés
Europe	$1,800,000	15 employés
Asie-Pacifique	$1,200,000	12 employés

Maintenance de la propriété intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle étaient de 650 000 $ en 2023, couvrant le dépôt de brevets, le renouvellement et la protection des innovations sur les technologies de filtration.

Infrastructure de support technique et de service

Le soutien technique et les dépenses d'infrastructure de service pour 2023 s'élevaient à 3,4 millions de dollars, garantissant un support client complet sur les marchés mondiaux.

• Personnel du support client: 45 employés
• Programmes de formation technique: 250 000 $
• Technologie des infrastructures de support: 600 000 $

Liqtech International, Inc. (LIQT) - Modèle commercial: Strots de revenus

Ventes de produits des systèmes de membrane en céramique

Pour l'exercice 2023, Liqtech International a déclaré des ventes totales de produits de 21,3 millions de dollars, avec des systèmes de membrane en céramique représentant une partie importante de ces revenus.

Catégorie de produits	Revenus (2023)	Pourcentage des ventes totales
Systèmes de membrane en céramique	15,7 millions de dollars	73.7%
Systèmes de filtration industrielle	5,6 millions de dollars	26.3%

Licence des technologies de filtration propriétaire

En 2023, Liqtech a généré 2,1 millions de dollars à partir des accords de licence technologique dans divers secteurs industriels.

• Licence du secteur de l'énergie: 850 000 $
• Licence de technologie de traitement de l'eau: 750 000 $
• Licence de processus industriel: 500 000 $

Frais de service d'ingénierie personnalisés

Les services d'ingénierie personnalisés ont contribué 3,5 millions de dollars aux revenus de l'entreprise en 2023.

Type de service d'ingénierie	Revenu
Conception du système de filtration	1,8 million de dollars
Conseil d'optimisation du processus	1,2 million de dollars
Développement de solutions personnalisées	$500,000

Contrats de maintenance et de soutien en cours

Les contrats de maintenance et de soutien ont généré 4,2 millions de dollars de revenus récurrents pour 2023.

• Contrats de maintenance annuels: 2,6 millions de dollars
• Accords de support technique: 1,6 million de dollars

Services de consultation technique

Les services de consultation technique ont représenté 1,9 million de dollars de revenus au cours de l'exercice 2023.

Catégorie de consultation	Revenu	Taux horaire moyen
Conseil de filtration industrielle	1,2 million de dollars	350 $ / heure
Conseil de conformité environnementale	$700,000	275 $ / heure

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.