A nozzle for a liquid-cooled plasma arc torch is provided. The nozzle includes a thermally conductive body having a distal end, a proximal end, and a longitudinal axis extending therethrough. The nozzle also includes a plasma arc exit orifice at the distal end of the thermally conductive body. The nozzle additionally includes a cooling waist located circumferentially about an exterior surface of the thermally conductive body. The cooling waist includes a liquid inlet slope, a liquid outlet slope and a heat exchange region between the liquid inlet slope and the liquid outlet slope. The heat exchange region extends substantially parallel to the longitudinal axis, and the liquid inlet slope and the liquid outlet slope are oriented generally perpendicular to the longitudinal axis.