InvestorNewsBreaks – The Alkaline Water Company Inc.’s (NASDAQ: WTER) (CSE: WTER) Releases Fiscal Year Financial Report Showing Record High Revenue
Jul 15, 2022
The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company, releases its financial report for the fiscal year ending March 31, 2022. The report included record revenue for the company — $60.6 million, which represented an increase of 32% over last year’s number — and gross profit of $15.2 million. The company also issued guidance of $70 million for fiscal year 2023 and outlined plans for a pathway to profitability. The company also held a conference call to discuss the financial report. The call, held at 8:45 a.m. on July 15, was hosted by The Alkaline Water Company president and CEO Frank Lazaran, who was joined by CFO David Guarino. Tom Hutchinson, chief marketing officer, and Frank Chessman, executive director of sales and operations, joined in for a Q&A session. A replay of the call will be available for one week starting on July 15, 2022, at approximately 12:45 p.m. ET. Those interested can access the call by dialing 877-660-6853 in the United States and Canada or 201-612-7415 internationally; the access ID number is 13731538. “Topline revenue for fiscal year 2022 was the best ever for The Alkaline Water Company,” said The Alkaline Water Company president and CEO Frank Lazaran in the press release. “Our record revenue of $60.6 million represents a 32% growth over last year and is the strongest year-over-year growth we’ve seen since 2019. Alkaline88 is a stronger brand than it has ever been. We remain confident in The Alkaline Water Company’s ability to continue to grow double digits year-over-year in fiscal year 2023 and are issuing revenue guidance of $70 Million for fiscal year 2023. We expect our topline to be driven by the momentum we’re carrying forward as one of the fastest-growing top-ten brands in one of the fastest growing beverage categories. We believe that we will continue to see continued organic growth within our existing retail clients and distribution expansion to new clients throughout the country. Our confidence is bolstered by the fact that early results from the first quarter of fiscal year 2023 indicate another record quarter to report in August 2022.”
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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(R) delivers perfect 8.8 pH-balanced 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 as a celebrity brand ambassador for the 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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