---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-23-005135"
form_type: "8-K"
ticker: "WTER"
cik: "0001532390"
company_name: "ALKALINE WATER Co INC"
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T21:59:52.465952+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Alkaline Water Q3 revenue record $15.9M (+21% YoY); CEO changed to Frank Chessman after Lazaran medical leave

## Summary
- Revenue $15.9M (+21% YoY); gross margin 24.7% (up 300 bps sequentially).
- Operating loss ($3.6M), improvement >67% YoY; net loss ($0.03) per share vs ($0.10).
- Total operating expenses reduced 46% to $7.5M; cash $2.2M.
- CEO Frank Lazaran stepped down due to medical concerns; Frank Chessman appointed CEO/President.
- Nasdaq late-filing notice received Feb 22, remedied by filing 10-Q on Feb 28.

## SEC filing metadata
- accession: 0001062993-23-005135
- form_type: 8-K
- ticker: WTER
- cik: 0001532390
- company_name: ALKALINE WATER Co INC
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1532390/000106299323005135/0001062993-23-005135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1532390/000106299323005135/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-23-005135
- JSON: https://secwatch.observer/filing/0001062993-23-005135.json
- Plain text: https://secwatch.observer/filing/0001062993-23-005135.txt

## Key facts
- Earnings Releases
  ALKALINE WATER Co INC reported third quarter ended December 31, 2022 results: revenue $15.9 million, net income ($3.97 million), EPS ($0.03).
  - Period: third quarter ended December 31, 2022
  - Revenue: $15.9 million
  - Net income: ($3.97 million)
  - EPS: ($0.03)
  - Result: reported results
  source text: Net revenue for the quarter ended December 31, 2022, was approximately $15.9 million, an increase of more than 21% compared to $13.1 million in the same period last year. Gross profit for the quarter was approximately $3.9 million, representing a gross margin of 24.7%, up 300 basis points from 21.7% in the second quarter fiscal year 2023. Total operating expenses were approximately $7.5 million, a 46% reduction compared to the same period last year. Total operating loss was approximately ($3.6 million), an improvement of more than 67% compared to ($10.9 million) in the same period last year. Net loss for the quarter was ($3.97 million), an improvement of 63% compared to the same period last year. Net loss per share was ($0.03) compared to ($0.10) in Q3 Fiscal 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1532390/000106299323005135/0001062993-23-005135-index.htm
- Listing & Compliance Notices
  ALKALINE WATER Co INC received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: late filing
  - Rules: 5250(c)(1)
  source text: February 22, 2023, The Alkaline Water Company Inc. (the "Company") received a letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market (the "Nasdaq"), notifying the Company that since the Company had not yet filed its Form 10-Q for the period ended December 31, 2022, it no longer complies with the Nasdaq's Listing Rule 5250(c)(1) (the "Rule") relating to the Company's obligation to file periodic financial reports for continued listing. The Company has since satisfied this obligation by filing its delinquent Form 10-Q on February 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1532390/000106299323005135/0001062993-23-005135-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.