LiqTech International Inc (LIQT)

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LiqTech Sees 4Q Rev $6 Million to $8 Million
By Michael Dabaie

The company guided for fourth-quarter 2021 revenue of $6 million to $8 million, which would be below FactSet consensus of two estimates for $10.4 million.

The maker of filtration technologies said it will end the year with a good backlog and expects ramping revenue growth starting in the first quarter of 2022.

For the full year 2022, the company said it sees revenue of $50 million to $80 million. The upside scenario assumes some large orders in its oil and gas pipeline will be released sooner than currently expected.

"While the past 18 months have been very challenging, we have taken this time to increase our investments in developing new product applications for the oil & gas and black carbon marine emission reduction markets. We expect these markets will be significant contributors to our business in 2022 and beyond. Further, we are seeing a recovery in our marine scrubber business, with increased inquiries and new orders," said Chief Executive Sune Mathiesen.

The company said its third-quarter results were lower than expectations due to continuing supply-chain disruptions that have affected its ability to deliver all of the planned shipments. LiqTech said it expects these supply-chain issues to remain through at least the next quarter.