Alkaline Water Co reports record Q2 revenue $19.6M (+28.3% YoY); operating loss narrows 50%

ALKALINE WATER Co INC

2023-Q2 EPS reported -$0.12 revenue$36,469,356

Record Q2 FY2023 revenue $19.6M, up 28.3% YoY from $15.3M; gross profit $4.6M (23.7% of revenue).
Net loss ($8.4M) improved $2M YoY; diluted EPS ($0.06) vs ($0.11) prior year.
Total operating expenses $9.7M, down 37% YoY; operating loss ($5.1M), a 50% improvement.
Identified $5M additional cost savings; total projected savings ~$20M for FY2023-2024 vs FY2022.
Reaffirmed FY2023 revenue guidance of $70M; term sheets for $6-7M nondilutive financing expected to close by year end.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ALKALINE WATER Co INC reported Second Quarter Fiscal 2023 results: revenue $19.6 million, net income ($8.4 Million), EPS ($0.06). Guidance reaffirmed.

Period: Second Quarter Fiscal 2023
Revenue: $19.6 million
Net income: ($8.4 Million)
EPS: ($0.06)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Second Quarter Fiscal 2023 Financial Highlights (all amounts in U.S. dollars)(unaudited): Record revenue of $19.6 million, +28.3% year-over-year compared to $15.3 million Gross Profit was $4.6 million, 23.7% of revenue, up 295 BPS sequentially over first quarter Total Operating Expenses were $9.7 million, a 37% YoY improvement Total Operating Loss was ($5.1 million), a 50% YoY improvement Net Loss was ($8.4 Million), a $2 million YoY improvement Net Loss Per Share of ($0.06) compared to ($0.11) in Q1 Fiscal 2022 Cash Position on September 30, 2022 was approximately $2.3 million

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Source: SEC EDGAR

accession 0001062993-22-022069

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