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The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) Record Revenue Streak Continues
July 23, 2021

The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) Record Revenue Streak Continues

  • The company’s FY 2021 numbers show record revenue of $46 million, a 20% year-over-year increase
  • WTER issues guidance for the full FY 2022 of $62 million, which would represent year-over-year growth of 35%
  • In addition to significant financial highlights, the FY 2021 report noted key operational milestones

As The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER) continues its focus on consistent growth and expansion, its financial reports are tangible proof of the success of those efforts. The company’s FY 2021 numbers show record revenue of $46 million, a 20% year-over-year increase for the country’s largest independent alkaline water company ( 

“Fiscal 2021 was another record year for The Alkaline Water Company continuing our streak of never having a down or a flat year,” said company president and CEO Richard A. Wright. “Our employees and business partners rose to the occasion throughout last year, and we have seen significant sales acceleration into fiscal 2022. We delivered to our customers and consumers when they needed us most. 

“The trust and appreciation we earned from our strong performance throughout the pandemic allowed us to continue to see more organic and new-store growth, and an expanding presence in more key channels,” Wright continued. “Our guidance for the full fiscal year 2022 is $62 million, which would represent year-over-year growth of 35%.”

In addition to the $46 million record revenue, WTER’s financial report for the period ending March 31, 2021, included compound annual growth rate (“CAGR”) of 52% for revenue since fiscal 2015; cost of Goods sold equal to an estimated $29.6 million, which represents a 17% increase over FY 2020; gross profit of some $16.4 million, a 25% increase over the $13.1 million reported in fiscal 2020. In addition, the company reported cash or cash equivalents of more than $9 million. 

In addition to financial highlights, the FY 2021 report noted key operational milestones, including the fact that the company’s flagship product, Alkaline88(R) water, is now available in more than 75,000 stores across the country. The company also launched its Direct Store Delivery (“DSD”) strategy with Mahaska, Nevada Beverage Company and Hensley Beverage, which combined serve 16,000 clients in five states. 

WTER also noted significant expansion efforts, including its first move across borders through its international distribution agreement with Mexico-based Tiendas Sindicales, which sells to approximately 6 million customers a month in the Mexican Free Trade Zone. The company also expanded into the multibillion-dollar hospitality and food-service channel through key partnerships with Dot Foods Inc., the largest food redistributor in the United States, and Independent Broker Alliance (IBA Foodservice), an alliance of 30 independently owned and operated foodservice sales agencies.

“During Fiscal 2021, we tightened our supply lines, met production demands and added talented employees to our mix,” Wright states. “While the hospitality industry as a whole was disrupted last year, we made significant strides to position ourselves well for channel penetration. We partnered with the largest food redistribution company in the U.S., Dot Foods, and national broker IBA Foodservice. We expect these partnerships to bear fruit in fiscal 2022 as the hospitality industry opens up and on-premise consumption makes a significant comeback.

Wright also noted that WTER received new export certificates from the FDA and now have three co-packers that are certified to export. “We expanded into our first international market, with Tiendas Sindicales in Mexico,” he said. “We’re excited for what this means for The Alkaline Water Company, as Mexico has one of the highest per capita bottled water consumption rates in the world. Expansion into the Caribbean and Puerto Rico is already underway in fiscal 2022, and we are confident that Canada can be our next international market.”

Looking forward, the company expects to deliver revenue of $62 million, with an estimated gross profit of approximately $23.5 million, according to WTER chief financial officer David Guarino. “This represents revenue growth of approximately 35% for the full year. We expect our top line to be driven primarily by the momentum we’re carrying forward from a successful 2021, which has resulted in SKU expansion, a gain in traction for our single-serves, and significant organic growth within our existing retail clients. This momentum should also allow us to see expanded distribution to additional retailers throughout the country.”

For more information, visit the company’s website at and

NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at

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