LQMT earnings analysis
What we found in LQMT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Liquidmetal Technologies reported a decrease in total revenue of $26, marking a 9.2% decline compared to the prior year. The net loss attributable to shareholders increased by 34.7% to $765, primarily driven by higher selling and administrative expenses associated with their manufacturing expansion in China.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Total revenue decreased by $26 from $282 in Q1 2025 to $256 in Q1 2026, a reduction of 9.2%.
- Gross Margin Improvement
- Gross margin increased slightly to 30.1% in Q1 2026 compared to 27.7% in Q1 2025, despite a decrease in gross profit.
- Increased Operating Expenses
- Selling and administrative expenses surged by $237 to $1,212, representing 473.4% of revenue in Q1 2026.
- Decrease in R&D Spending
- R&D expenses decreased to $3, down from $4, constituting 1.2% of revenue for Q1 2026.
- Higher Lease Income
- Lease income increased to $196 in Q1 2026 from $89 in Q1 2025, a significant growth driven by the amended facility lease.
- Cash Reserves Maintain Stability
- As of March 31, 2026, the company had $19,161 in cash and liquid securities, indicating adequate liquidity for operations.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- History of Operating Losses
- The company reported a net loss of $765, up from $568, indicating ongoing profitability challenges.
- Cash Burn Rate
- Cash used in operating activities was $226 in Q1 2026 compared to $299 in Q1 2025, highlighting continued cash burn.
- Dependence on Third-Party Manufacturing
- Future product shipments and revenue heavily depend on third-party manufacturers' capabilities, creating production risk.
What they reported.
What the company itself reported, taken out of the document.
- Gross margin
- 30.1%
What they said about what is next.
Management expects operational losses to continue until product shipments stabilize and increase.
The filing reads worse than the one before it.
What came before.
- 10-K · March 12, 2026
- The 2025 Form 10-K for Liquidmetal Technologies reiterates a strategy focused on high-margin, design-driven product applications, strategic partnerships and expansion of manufacturing (including developing a China…
- 10-Q · November 13, 2025
- Liquidmetal reported Q3 revenue of $37,000 (down from $316,000 in Q3 2024) and a net loss attributable to shareholders of $552,000 for the quarter (net loss $1.645M for the nine months). Liquidity improved with cash and…
- 10-K · March 13, 2025
- Liquidmetal emphasizes commercialization of its proprietary bulk amorphous alloys via focused, higher-margin product targeting and strategic partnerships/licenses (e.g., Apple, Eontec, Swatch). The 10-K shows a small…
- 10-Q · August 13, 2024
- Liquidmetal reported Q2 revenue of $242,000 (up from $67,000 in Q2 2023) with gross profit of $55,000 and a reduced net loss of $260,000 (vs. $710,000 prior-year quarter). Operating loss improved to $807,000 from…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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