LiqTech International Stock Slips Despite Expecting Double Revenue in 2H

LiqTech International Inc LIQT reported a second-quarter revenue decline of 13.5% year-over-year to $4.02 million, missing the consensus of $4.07 million.
EPS decreased to $(0.14) from $(0.12) in 2Q20, missing consensus of $(0.12).
The gross margin contracted by 267 bps to 8%.
Loss from operations expanded to $(2.56) million from $(1.94) million a year ago.
LiqTech generated cash flow from operations of $0.4 million and held cash on hand and restricted cash of $25.1 million on June 30, 2021.
LiqTech expects revenue to more than double in the second half of 2021, supported via overall improving market trends, coupled with breakthrough new orders and current backlog.
Additionally, the company announced it had received the first order for a new offshore deep-sea drilling application in the oil & gas market.
Price Action: LIQT shares are trading lower by 2.53% at $5.00 on the last check Monday.

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