Liquidmetal Technologies, Inc.

Liquidmetal reported 2025 revenue of about $800,000, a net loss of $2,400,000, and EBITDA of about negative $1,800,000. It ended the year with about $20,000,000 of readily available liquid cash and investments, and management said the corporate office building has a market value more than double its current book value of $7,000,000. No revenue or EPS guidance was provided; instead, management said the Hangzhou manufacturing plant buildout is progressing smoothly and it hopes to be fully operational toward 2026.

Tony Chung framed 2025 as a pivotal year centered on Professor Li's deeper involvement in Asia operations and the move into owned manufacturing. He argued that in-house production will help Liquidmetal develop its own process know-how and intellectual property, improve cost control, and eventually support higher gross margins and more strategic pricing. His tone was upbeat and forward-looking, emphasizing collaboration with tier-one manufacturers and saying the company has 'unlimited potential' in consumer products, physical AI, and medical devices.

The call did not include a separate CFO speaker; Tony Chung covered the financial summary. He cited about $800,000 of 2025 revenue, a net loss of $2,400,000, and EBITDA of about negative $1,800,000, then said the company ended the year with about $20,000,000 of readily available liquid cash and investments. He also noted the office building's market value is more than double its $7,000,000 book value and said those resources should fund growth for the foreseeable future.

There was no analyst Q&A segment on this call. The key management commentary was that the Hangzhou plant is expected to be fully operational toward 2026, while the short-term relationship with Yeehaw Metal will not change. Management also stressed that customer orders could eventually come through either Liquidmetal or Yeehaw, and that multiple manufacturing sources are needed to widen adoption.