The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company, is reporting on its financial results for the third quarter, ended Dec. 31, 2022. The report represented the second full quarter that the company has been following its announced Pathway to Profitability. The report noted that the company’s $15.9 million in revenue was its best third-quarter report ever; the figure also represents a 21% year-over-year improvement. Other financial highlights include gross profit of approximately $3.9 million and total operating expenses of $7.5 million, a 46% reduction compared to the same period last year. “In spite of a challenging economy, we still experienced significant year-over-year growth of more than 21% in topline revenue,” said The Alkaline Water Company president and CEO Frank Chessman in the press release. “While continuing to grow sales, we were also able to reduce our operating expenses and total loss compared to last year. Total operating expenses are down 46% from the same quarter last year. Total operating loss is down 67% by the same comparison, and sequentially compared to Q2, it is down almost 30%. This has been a very quick turnaround in just a few quarters, thanks to our strategically implemented Pathway to Profitability initiative focused on cutting expenses to create a more efficient growth company. We remain confident in our ability to continue driving growth and profitability in the coming quarters.”
To view the full press release, visit https://ibn.fm/L3Tmo
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with ecofriendly aluminum packaging options. With its innovative, state-of-the-art, proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH alkaline drinking water with trace minerals and electrolytes and boasts the company’s trademarked Clean Beverage label. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for Alkaline88. To learn more about the company, please visit www.Alkaline88.com and www.TheAlkalineWaterCo.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://ibn.fm/WTER
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