The following is a summary of the LiqTech International, Inc. (LIQT) Q2 2024 Earnings Call Transcript:
Financial Performance:
LiqTech International reported a decrease in Q2 revenue to $4.5 million from $5.2 million in the same quarter the previous year.
Gross profit margin for the quarter was 16%, down from 23.3% the previous year, impacted by the delivery of a containerized oil and gas pilot system.
Business Progress:
LiqTech received significant orders for produced water treatment systems, marking a key target market.New distribution agreements were signed with NESR and Razorback Direct, enhancing market reach.
Achievements in marine and pool system markets, including new partnerships and regulatory approvals, were highlighted.
LiqTech is expecting growth from strategic initiatives and collaborative efforts with various partners and expects Q4 revenue to be significantly higher.
Opportunities:
Strategy to penetrate the U.S. market with produced water treatment and gaining NSF certification to expand into the U.S. swimming pool market.
Risks:
Regional impacts due to geopolitical instability have shifted focus from the Middle East to the U.S., mitigating instability risks but requiring adaptation to new market dynamics.
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