Liquidmetal Technologies Reports 68.6% Revenue Growth to $860,000 for Fiscal Year 2024

Liquidmetal Technologies, Inc. reported a total revenue of $860,000 for the fiscal year ending December 31, 2024, marking a significant increase of 68.6% compared to $510,000 in 2023. This growth was primarily driven by increased product shipments, particularly related to the launch of health monitoring rings and medical devices utilizing the company's proprietary amorphous alloy technology. Despite the revenue increase, the company continued to experience operating losses, reporting a net loss of $1.511 million for 2024, an improvement from the $2.048 million loss in the previous year.

The company's cost of sales rose to $643,000, representing 74.8% of total revenue, compared to 70.8% in 2023. This increase in cost percentage reflects fluctuations in production volumes and pricing. Gross profit for the year was $217,000, with a gross margin of 25.2%, down from 29.2% in 2023. Operating expenses also increased, with selling, general, and administrative expenses rising to $3.511 million, accounting for 408.3% of revenue, largely due to higher audit and trade show costs.

In terms of strategic developments, Liquidmetal Technologies has focused on enhancing its manufacturing capabilities through partnerships. In January 2022, the company entered into a five-year manufacturing agreement with Dongguan Yihao Metal Materials Technology Co. Ltd., which is expected to streamline production processes. Additionally, the company has been actively pursuing licensing agreements, including a sublicense with Amorphous Technologies Japan, Inc. for golf equipment applications, which is expected to generate ongoing royalty income.

Operationally, Liquidmetal Technologies reported a customer concentration risk, with three major customers accounting for 91% of total revenue in 2024, compared to 86% in 2023. The company has a limited employee base, with only seven full-time employees and one consultant as of December 31, 2024. The company continues to invest in research and development, albeit at a reduced level, to enhance its technology and explore new applications for its alloys.

Looking ahead, Liquidmetal Technologies anticipates ongoing operating losses as it works to increase product shipments and secure significant licensing revenues. The company has $22.341 million in cash and investments, which it views as sufficient to fund operations for the foreseeable future. However, the company acknowledges the challenges of customer adoption cycles and the need for sustained production to achieve profitability.