Global Water Resources, Inc.

Listed Company

GWRSCIK 0001434728NasdaqNon-AcceleratedSmaller ReportingWater SupplyDelawareFY ends Dec 31

Period

FY 2025

Revenue

$55.76M

Net Income

$2.96M

Total Assets

$482.91M

Equity

$86.62M

Shares Out

28.76M

Op. Cash Flow

$20.17M

Business

Global Water Resources, Inc. is a water resource management company that owns, operates, and manages multiple water, wastewater, and recycled water public utility systems. It provides regulated potable water, wastewater collection and treatment, and high-quality recycled (non-potable) water services, deploying a Total Water Management approach that emphasizes reuse, conservation, advanced treatment, and automation. Its operations are organized through regulated utility subsidiaries that deliver integrated water, wastewater and recycled water services. The company serves ACC-designated service areas principally in metropolitan Phoenix and Tucson, Arizona, distributing potable water and recycled water via separate distribution systems and partnering with developers and municipalities.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	56	53	53	45	42
Operations and maintenance	16	14	13	11	10
General and administrative	18	17	17	16	15
Depreciation, amortization and accretion	15	13	—	—	—
Total operating expenses	49	43	41	37	35
Operating Income	7	9	12	8	7
Interest income	446,000	946,000	52,000	65,000	19,000
Interest expense	−6	−6	−5	−5	—
Other, net	2	4	3	3	3
Total other expense	−3	−2	−1	−1	−2
Income Before Income Taxes	4	8	11	6	5
Income Tax Expense	−1	−2	−3	−934,000	−1
Net Income	3	6	8	6	4
Basic earnings per common share (in dollars per share)	0.11	0.24	0.33	0.24	0.16
Diluted earnings per common share (in dollars per share)	0.11	0.24	0.33	0.24	0.16
Dividends declared per common share (in dollars per share)	0.3	0.3	0.3	0.3	0.29
Basic (in shares)	27	24	24	23	23
Diluted (in shares)	27	24	24	23	23

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Utility Plant	611	515	466	—	—
Less: accumulated depreciation	−169	−154	−142	−125	−113
Net utility plant	442	362	323	288	256
Cash and cash equivalents	4	9	3	7	13
Accounts receivable, net of allowance for credit losses of $244 and $163, respectively	4	3	3	2	2
Unbilled revenue	3	3	3	3	3
Prepaid expenses and other current assets	3	4	2	2	2
Total current assets	15	19	12	14	19
Goodwill	7	9	11	5	6
Intangible assets, net	6	6	9	10	10
Regulatory assets	7	4	3	3	2
Restricted cash	3	2	2	1	806,000
Right-of-use assets, net	4	2	2	2	0
Other noncurrent assets	117,000	78,000	74,000	34,000	10,000
Total other assets	26	24	26	21	19
Total Assets	483	405	361	323	294
Common stock, $0.01 par value, 60,000,000 shares authorized; 29,116,183 and 24,570,994 shares issued, respectively	285,000	240,000	240,000	239,000	228,000
Treasury stock, 359,329 and 344,978 shares, respectively	−2,000	−2,000	−2,000	−2,000	−2,000
Additional paid-in capital	87	47	48	44	30
Retained deficit	−961,000	0	797,000	0	0
Total shareholders equity	87	48	49	44	30
Long-term debt, net	130	119	101	105	109
Total Capitalization	216	166	150	—	—
Accounts payable	2	2	1	2	2
Customer and meter deposits	2	2	2	—	—
Long-term debt, current portion	4	4	4	4	4
Leases, current portion	850,000	871,000	553,000	505,000	142,000
Accrued expenses and other current liabilities	10	14	7	8	9
Total current liabilities	19	22	14	16	17
Long-term lease liabilities	4	1	1	2	199,000
Deferred revenue - ICFA	23	22	20	21	19
Regulatory liabilities	5	5	6	6	7
Advances in aid of construction	155	126	112	94	85
Contributions in aid of construction, net	38	37	33	26	21
Deferred income tax liabilities, net	10	10	8	6	3
Other noncurrent liabilities	13	15	15	755,000	778,000
Total other liabilities	247	217	197	262	247
Commitments and contingencies (Refer to Note 17)	—	—	—	—	—
Total Capitalization and Liabilities	483	405	361	323	294

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Share-based compensation	861,000	1	1	—	—
Deferred income tax expense	58,000	1	—	—	—
AFUDC-Equity	−1	−892,000	—	—	—
Loss on disposal of fixed assets	1	309,000	−63,000	—	—
Operating lease expense	367,000	384,000	—	—	—
Other adjustments	254,000	125,000	112,000	—	—
Accounts receivable and other current assets	85,000	−2	−994,000	—	—
Accounts payable and other current liabilities	151,000	−915,000	−635,000	−2	415,000
Other noncurrent assets	−195,000	565,000	312,000	387,000	−300,000
Other noncurrent liabilities	537,000	3	3	6	5
Net cash provided by operating activities	20	22	25	23	20
Capital expenditures	−67	−32	−22	−34	−18
Cash paid for acquisitions, net of cash acquired	−8	−150,000	−6	—	—
Other cash flows used in investing activities	0	−4,000	−40,000	−24,000	−1,000
Net cash used in investing activities	−75	−32	−29	−34	−20
Dividends paid	−8	−7	−7	−7	−7
Advances and contributions in aid of construction	6	11	2	—	—
Refunds of advances for construction	−1	−1	−1	—	—
Principal payments under finance lease	−401,000	−273,000	−525,000	—	—
Proceeds from issuance of long-term debt	15	22	2	0	—
Repayments of long-term debt	−4	−4	—	—	—
Revolver borrowings	11	0	2	—	—
Revolver repayments	−11	−2	0	—	—
Issuance of common stock, net of issuance costs	44	0	3	15	0
Financing costs of debt and equity transactions	−443,000	−418,000	0	0	−46,000
Other financing activities	−182,000	−316,000	−40,000	0	—
Net cash provided by financing activities	51	17	406,000	5	−8
Increase (Decrease) in cash, cash equivalents, and restricted cash	−4	6	−3	−6	−8

Filings

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