LIQTECH INTERNATIONAL INC (LIQT)

NASDAQIndustrialsIndustrial - Pollution & Treatment ControlsSnapshot 2026-10-23

$0.34-4.67%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge LIQTECH INTERNATIONAL INC’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	5.5M
EPS	—	-0.07
Annual ending 2026-12-31
Revenue	—	20M
EPS	—	-0.3
Annual ending 2027-12-31
Revenue	—	24.5M
EPS	—	-0.28

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Avoid further dilutive equity offerings beyond $20 million in mid-2026	A supporting condition in LIQTECH INTERNATIONAL INC's published investment case. The stated target is No additional large equity offerings in next 12 months.	Under Pressure	new equity offerings exceeding $5 million announced	$20M offering vs <$5M trip June 2026 news confirms pricing of a $20M underwritten public offering of common stock. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Gross profit improves to at least $393,744 in Q1 2026	LiqTech is improving its gross profit margin, up $500K from Q4 2025 to Q1 2026.	Broken	gross profit falls below $393,744 in Q1 2026	Gross profit: $365,539 FY2026-Q2; GAAP. Published target: >= $393,744. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 12, 2026365,539 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: e065aac6-79f9-4f88-bf4e-994710f77f50. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating loss improves to no worse than -$2.28 million in Q1 2026	A primary condition in LIQTECH INTERNATIONAL INC's published investment case. The stated target is >= -$2,277,209.	Broken	operating loss worsens beyond -$2,277,209 in Q1 2026	Operating income: $-2.332M FY2026-Q2; GAAP. Published target: >= -$2,277,209. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 12, 2026-2,331,817 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: e065aac6-79f9-4f88-bf4e-994710f77f50. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue grows to at least $21.6 million in FY26	A primary condition in LIQTECH INTERNATIONAL INC's published investment case. The stated target is >= $21.6 million.	Broken	revenue falls below $21.6 million in FY26	Revenue: $4.364M FY2026-Q2; GAAP. Published target: >= $21.6 million. Target period is not explicitly aligned with this observation. Source published Aug 12, 20264,363,752 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: e065aac6-79f9-4f88-bf4e-994710f77f50. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated in 1 supplied transcript quarter, 2026-Q2. Revenue was $3,125,254 in 2025-Q4 and $4,363,752 in 2026-Q2, while operating income remained negative at -$2,331,817 in 2026-Q2. Revenue increased across those reported periods, but the transcript does not provide a specific growth milestone, so delivery against a stated growth commitment is limited. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue: comparable history unavailable.

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	1 / 1
2026-07-25	Unavailable	Unavailable	1 / 1
2026-07-26	Unavailable	Unavailable	1 / 1
2026-07-27	Unavailable	Unavailable	1 / 1
2026-07-28	Unavailable	Unavailable	1 / 1
2026-07-29	Unavailable	Unavailable	1 / 1
2026-07-30	Unavailable	Unavailable	1 / 1
2026-07-31	Unavailable	Unavailable	1 / 1
2026-08-01	Unavailable	Unavailable	1 / 1
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2026-09-01	Unavailable	Unavailable	1 / 1
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2026-09-11	Unavailable	Unavailable	1 / 1
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2026-09-19	Unavailable	Unavailable	1 / 1
2026-09-20	Unavailable	Unavailable	1 / 1
2026-09-21	Unavailable	Unavailable	1 / 1
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2026-09-23	Unavailable	Unavailable	1 / 1
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2026-09-26	Unavailable	Unavailable	1 / 1
2026-09-27	Unavailable	Unavailable	1 / 1
2026-09-28	Unavailable	Unavailable	1 / 1
2026-09-29	Unavailable	Unavailable	1 / 1
2026-09-30	Unavailable	Unavailable	1 / 1
2026-10-01	Unavailable	Unavailable	1 / 1
2026-10-02	Unavailable	Unavailable	1 / 1
2026-10-03	Unavailable	Unavailable	1 / 1
2026-10-04	Unavailable	Unavailable	1 / 1
2026-10-05	Unavailable	Unavailable	1 / 1
2026-10-06	Unavailable	Unavailable	1 / 1
2026-10-07	Unavailable	Unavailable	1 / 1
2026-10-08	Unavailable	Unavailable	1 / 1
2026-10-09	Unavailable	Unavailable	1 / 1
2026-10-10	Unavailable	Unavailable	1 / 1
2026-10-11	Unavailable	Unavailable	1 / 1
2026-10-12	Unavailable	Unavailable	1 / 1
2026-10-13	Unavailable	Unavailable	1 / 1
2026-10-14	Unavailable	Unavailable	1 / 1
2026-10-15	Unavailable	Unavailable	1 / 1
2026-10-16	Unavailable	Unavailable	1 / 1
2026-10-17	Unavailable	Unavailable	1 / 1
2026-10-18	Unavailable	Unavailable	1 / 1
2026-10-19	Unavailable	Unavailable	1 / 1
2026-10-20	Unavailable	Unavailable	1 / 1
2026-10-21	Unavailable	Unavailable	1 / 1
2026-10-22	Unavailable	Unavailable	1 / 1
2026-10-23	Unavailable	Unavailable	1 / 1
2026-10-24	Unavailable	Unavailable	1 / 1

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	1	0	0
2026-06-01	1	0	0
2026-07-01	1	0	0
2026-08-01	1	0	0
2026-09-01	1	0	0
2026-10-01	1	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Avoid further dilutive equity offerings beyond $20 million in mid-2026Published status: Under Pressure
Gross profit improves to at least $393,744 in Q1 2026Published status: Broken
Operating loss improves to no worse than -$2.28 million in Q1 2026Published status: Broken
Revenue grows to at least $21.6 million in FY26Published status: Broken

Next proof point

Nov 12, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

3.6%Typical daily move · historical

Downside history

-86.7%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

LIQTECH INTERNATIONAL INC outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a speculative growth business, not an established compounder: it is still loss-making, recent financial performance is weak, and risk is high. The thesis is in a watch state, though its signal has shifted from cautious to mixed.

What's priced into LIQTECH INTERNATIONAL INC

The valuation model points to LIQT being cheap versus peers, but confidence in that reading is low. The expectations gap is negative, suggesting the current setup does not reflect a strong growth outlook; the evidence does not show that the shares are clearly undervalued.

What the fundamentals likely do

Near term, revenue has risen from $3.1 million in 2025-Q4 to $4.4 million in 2026-Q2, and gross profit moved from a loss to a profit over the period cited. The $20 million capital raise supports business development and debt repayment, but recent quarters have been missed, and a 49% estimated miss probability makes the next report a meaningful risk. A recent delisting notice, officer changes, and a CFO transition add uncertainty.

What LIQTECH INTERNATIONAL INC hinges on

Over the next one to three years, the thesis depends on revenue growth continuing and gross profit progress turning into stronger financial performance. In the near term, sector bellwethers’ results and guidance could either sustain or weaken the Industrials backdrop, while a material slowdown in GDP growth from 2.2% would be a headwind. The capital raised must support growth and debt repayment without execution setbacks.