LiqTech posted $16.5 million in revenue for the year ended December 31, 2025, a 13% increase over 2024, while Q4 revenue slipped to $3.1 million from $3.4 million. The net loss narrowed to $8.6 million versus $10.3 million a year earlier, and adjusted EBITDA loss improved to $5.0 million; cash on hand totaled $5.1 million.

Total system and aftermarket revenue jumped 49% to $8.2 million, driven by a record 34 pool system sales (24 delivered in 2025, generating $2.6 million), two commercial energy and industrial systems for a major steel producer, and eight marine dual-fuel engine water treatment orders through its China joint venture. The company also expanded its U.S. footprint with a new Texas service center for produced water and industrial filtration.

For fiscal 2026, LiqTech projects revenue between $23 million and $27 million (up 39%–64%) and aims for a positive adjusted EBITDA in the mid-to-high range of that guidance, factoring in contributions from delayed oil and gas orders and continued growth in high-value system sales.