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Liquidmetal Technologies Inc. (LQMT-4.21%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in total revenue to $860,000 from $510,000 in the previous year. This increase is attributed to higher product shipments, particularly in health monitoring rings and medical devices.
Cost of sales for the year was $643,000, representing 74.8% of total revenue, compared to 70.8% in the previous year. This increase in cost ratio is due to fluctuations in production volumes and quoted production prices.
The company reported a gross profit of $217,000 for the year, up from $149,000 in the previous year, with the gross margin percentage decreasing from 29.2% to 25.2%.
Selling, marketing, general, and administrative expenses increased to $3,511,000 from $3,214,000, primarily due to higher audit and tradeshow expenses.
Research and development expenses slightly decreased to $19,000 from $20,000, mainly due to reductions in employee compensation and associated development initiatives.
The company reported a net loss of $1,511,000 for the year, down from $2,048,000 in the previous year. Net loss attributable to Liquidmetal Technologies shareholders was $1,510,000, compared to $2,047,000 in the previous year.
Cash used in operating activities totaled $1,157,000 for the year, primarily to fund operating expenses related to business and product development efforts.
Cash used in investing activities totaled $1,674,000, primarily consisting of purchases and sales of debt securities.
As of December 31, 2024, Liquidmetal Technologies had $6,011,000 in cash and restricted cash, as well as $16,330,000 in investments in debt securities, which the company views as readily available sources of liquidity.
The filing also details various strategic partnerships and licensing agreements, including a manufacturing agreement with Dongguan Yihao Metal Materials Technology Co. Ltd. and a sublicense agreement with Amorphous Technologies Japan, Inc.
Liquidmetal Technologies continues to focus on developing and commercializing products made from its proprietary amorphous alloys, with applications in medical devices, automotive components, and non-consumer electronic products.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Liquidmetal Technologies Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.