Liquidmetal doesn't manufacture anything now -- they have partners for that. So they make money (we make money) when LM is used in a product to be sold in Europe or NA. The income is royalties.
There appear to be two caveats to this statement. One is Apple, which supposedly never has to pay any royalty on anything, even LM106c. The other is agreements that are grandfathered into a previous agreement, which apparently includes Tesla and door locks.
So we make money with royalties. We also make money by stock, if the price rises because the product becomes popular.
This is the full extent of my understanding of how Liquidmetal LF makes money. Corrections and expansions are most welcome.