Thu, Nov 21, 9:13 PM (228 days ago)
**Summary of Liquidmetal Technologies, Inc. (LQMT) 10-K/A for FY 2023** Liquidmetal Technologies, Inc. reported total revenue of $510,000 for FY 2023, up 33.2% from $383,000 in FY 2022, primarily driven by increased product shipments, particularly health monitoring rings. However, the company experienced a net loss of $2,048,000, a slight improvement from a loss of $2,394,000 the previous year. Operating expenses rose to $3,234,000, with selling and administrative costs comprising the majority. Gross profit improved significantly to $149,000, with a gross margin of 29.2%. The company maintains a high customer concentration risk, with three major customers accounting for 86% of revenue in 2023, compared to 74% in 2022. Liquidmetal's strategic focus includes enhancing product offerings and pursuing partnerships to drive commercialization. Risks include reliance on a limited number of customers and ongoing operating losses. The amendment primarily updates financial statements and changes the independent auditor to BCRG Group. The company’s financial condition remains stable, with $23.2 million in cash and investments available for operations. Future growth is contingent on successful product commercialization and strategic partnerships in various sectors, including medical devices and automotive components.