LiqTech International, Inc. (LIQT) financial statements (2023 and earlier)

Company profile

Business Address INDUSTRIPARKEN 22C
BALLERUP, DK-2750
State of Incorp. NV
Fiscal Year End December 31
SIC 359 - Miscellaneous Industrial And Commercial (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15,364 7,0703,7762,4861,2091,371
Cash and cash equivalents15,364 7,0703,7762,4861,2091,371
Restricted cash and investments2,1261,5162,714   293
Receivables1,9583,1299,4762,4071,7611,4183,698
Inventory, net of allowances, customer advances and progress billings5,4215,5225,1994,4324,6625,1754,917
Inventory5,4215,5225,1994,4324,6625,1754,917
Prepaid expense  255134286214
Contract with customer, asset1,9072,7082,773624
Costs in excess of billings4906432,519
Deferred tax assets   172
Other undisclosed current assets1,29212,780     
Total current assets:28,06725,65527,48711,3739,4288,50612,983
Noncurrent Assets
Finance lease, right-of-use asset  206
Operating lease, right-of-use asset6,9264,9485,054
Property, plant and equipment8,85910,3224,8261,4321,9592,6343,539
Long-term investments and receivables   66522
Long-term investments   66522
Intangible assets, net (including goodwill)5757407251367,593
Goodwill240260236   7,583
Intangible assets, net (excluding goodwill)33548048913610
Deposits noncurrent assets   348284262252
Deferred tax assets, net   3,684
Other undisclosed noncurrent assets628546292    
Total noncurrent assets:16,98816,55511,1021,7862,2522,90615,091
TOTAL ASSETS:45,05542,21038,59013,15911,68011,41228,074
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,3327,2427,5773,9913,5014,6494,897
Accounts payable1,6472,3324,3392,1221,7752,2633,455
Accrued liabilities4,6864,9093,2231,8681,7252,3861,442
Taxes payable 115 111
Deferred revenue9151,1521,421
Debt8,7743951,034142661150
Business combination, contingent consideration, liability  300    
Deferred revenue and credits934193118
Billings in excess of cost307106175
Contract with customer, liability516
Other undisclosed current liabilities8471,026 99   
Total current liabilities:16,8689,81510,3324,6204,7685,0095,341
Noncurrent Liabilities
Long-term debt and lease obligation14,8417,2724,314  134166
Long-term debt, excluding current maturities6,187    40 
Finance lease, liability2,5003,112172
Capital lease obligations  94166
Operating lease, liability6,1544,1594,142
Liabilities, other than long-term debt572305938    
Deferred income tax liabilities225305339
Other liabilities347      
Business combination, contingent consideration, liability  599    
Total noncurrent liabilities:15,4127,5775,252  134166
Total liabilities:32,28017,39215,5844,6204,7685,1435,506
Stockholders' equity
Stockholders' equity attributable to parent, including:12,77524,81823,0068,5406,9126,27022,567
Preferred stock    2  
Common stock21222173443740
Additional paid in capital70,91169,89861,39846,52140,45836,08436,088
Deferred compensation equity   (23)(80)(149)(591)
Accumulated other comprehensive loss(4,975)(3,046)(6,167)(5,745)(5,041)(5,691)(5,377)
Accumulated deficit(53,182)(42,055)(32,247)(32,286)(28,472)(24,011)(7,593)
Warrants and rights outstanding 3,476     
Other undisclosed stockholders' equity attributable to parent (3,476)     
Total stockholders' equity:12,77524,81823,0068,5406,9126,27022,567
TOTAL LIABILITIES AND EQUITY:45,05542,21038,59013,15911,68011,41228,074

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues18,27322,52632,63712,23211,34313,90615,813
Revenue, net11,34313,90615,813
Cost of revenue
(Cost of Goods and Services Sold)
(16,697)(20,380)(25,475)(11,166)(11,136)(12,474)(12,598)
Gross profit:1,5762,1477,1621,0662071,4323,214
Operating expenses(12,263)(10,402)(7,555)(5,552)(4,814)(14,567)(6,614)
Operating loss:(10,687)(8,255)(392)(4,486)(4,607)(13,135)(3,399)
Nonoperating income (expense)(503)(2,018)135306(171)(64)513
Investment income, nonoperating     (17)7
Foreign currency transaction gain (loss), before tax668(1,470)286344(102)(10) 
Interest and debt expense (121)(204)(72)(46)(39)(51)
Other undisclosed income from continuing operations before equity method investments, income taxes 12120472463951
Loss from continuing operations before income taxes:(11,190)(10,274)(258)(4,180)(4,778)(13,199)(2,886)
Income tax expense (benefit)63465297365318(3,220)698
Net income (loss):(11,127)(9,808)40(3,815)(4,460)(16,419)(2,188)
Net income attributable to noncontrolling interest      22
Other undisclosed net loss attributable to parent      (43)
Net income (loss) available to common stockholders, diluted:(11,127)(9,808)40(3,815)(4,460)(16,419)(2,210)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(11,127)(9,808)40(3,815)(4,460)(16,419)(2,188)
Other undisclosed comprehensive loss     (315)(2,541)
Comprehensive income (loss):(11,127)(9,808)40(3,815)(4,460)(16,733)(4,729)
Comprehensive income, net of tax, attributable to noncontrolling interest      22
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,929)3,120(422)   (22)
Comprehensive loss, net of tax, attributable to parent:(13,056)(6,688)(382)(3,815)(4,460)(16,733)(4,729)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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