Denmark's LiqTech Q3 revenue rises; net loss widens on margin decline
LIQT•LiqTech's Q3 revenue rose 15.5% year over year to $4.4 million, while its net loss widened to $1.8 million from $1.5 million. The company maintained 2026 revenue guidance of $20 million to $23 million.
1. Revenue and losses
LiqTech reported Q3 revenue of $4.4 million, up 15.5% year over year. Its net loss widened to $1.8 million from $1.5 million, and its adjusted EBITDA loss widened to $1.1 million from $0.5 million.
2. Margin and outlook
Gross margin declined as revenue mix shifted toward systems, particularly Marine, and away from aftermarket services, alongside lower manufacturing capacity utilization. LiqTech maintained full-year 2026 revenue guidance of $20 million to $23 million, saying the upper end depends on additional orders and project execution. It sees an opportunity pipeline supporting potential revenue growth of 30% to 40% in 2027.
3. Business drivers
Revenue growth was driven by higher sales in Marine and Water for Industry and contributions from externally funded research and development. The DPF business regained momentum with a strong order backlog after raw-material availability issues were resolved.
