ALKALINE WATER Co INC (WTER)
The Alkaline Water Company Inc., headquartered in Scottsdale, Arizona, and founded in 2011, specializes in the production, nationwide distribution, and marketing of bottled alkaline water across the United States. Its primary offering is bottled alkaline water, available in various sizes, sold under the "Alkaline88" brand. The company also diversifies its product range with sports drinks, marketed as "Alkaline88 Sports Drinks." To reach consumers, the company utilizes a network of brokers and distributors, supplying its products to a broad spectrum of retail outlets, including convenience stores, health food shops, large ethnic grocery stores, national chain retailers, and numerous e-commerce platforms.
Sector: Wholesale-Groceries & Related Products
Industry: Beverages - Non-Alcoholic
The Alkaline Water Company Inc.
OTC:WTERConsumer Defensive · Beverages - Non-Alcoholic
+3.03%$0.0340
Mkt Cap$44K
Float1.09M
O/S1.3M
Inst Own-
SI0.2%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$4.58M
Net Income-$1.74M
Total Assets$954K
Free Cash Flow-$266K
Debt & Equity
Total Debt$315K
Total Equity-$2.18M
Preferred Stock$100
Shares Outstanding
Short Interest
Split History3 splits · 3 reverse
2-year cumulative
1:10
Nasdaq bars a compliance period at 1:250
- 1:10Reverse splitDec 16, 202510 shares → 1
- 1:15Reverse splitApr 5, 202315 shares → 1
- 1:50Reverse splitDec 30, 201550 shares → 1
Balance Sheet Details
Assets$954K
Liabilities$3.13M
Accounts Receivable$342K
Accounts Payable$714K
Inventory$255K
PP&E (Net)$355K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 | 2015-03-31 | 2014-03-31 | 2012-03-31 | 2011-08-31 |
| Revenue | $4.58M | $61K | $28.5M | $63.78M | $54.77M | $46.07M | $38.43M | $32.2M | $19.81M | $12.76M | $7.09M | $3.7M | $553K | $0 | $0 |
| YoY Growth | 7470.5% | -99.8% | -55.3% | 16.4% | 18.9% | 19.9% | 19.3% | 62.5% | 55.2% | 80.1% | 91.6% | 569.5% | - | - | - |
| Cost of Revenue | $2.43M | $26K | $26.27M | $52.13M | $45.38M | $29.62M | $25.31M | $19.25M | $11.69M | $7.35M | $4.43M | $2.53M | $412K | $0 | $0 |
| Gross Profit | $2.15M | $35K | $2.23M | $11.65M | $9.39M | $16.45M | $13.12M | $12.95M | $8.13M | $5.41M | $2.66M | $1.17M | $141K | $0 | $0 |
| Gross Margin | 47.0% | 57.7% | 7.8% | 18.3% | 17.2% | 35.7% | 34.1% | 40.2% | 41.0% | 42.4% | 37.5% | 31.6% | 25.5% | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $3.79M | $782K | $14.85M | $33.68M | $48.39M | $32.28M | $27.5M | $20.43M | $13.64M | $7.59M | $9.82M | $7.91M | $4.38M | $43K | $516 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $581K | $419K | $360K | $318K | $175K | $42K | $0 | $0 |
| Total Operating Expenses | $3.79M | $782K | $14.85M | $33.68M | $48.39M | $32.28M | $27.5M | $21.01M | $14.06M | $7.95M | $10.13M | $8.08M | $4.42M | $43K | $516 |
| Operating Income (EBIT) | -$1.64M | -$747K | -$12.62M | -$22.03M | -$39M | -$15.83M | -$14.38M | -$8.06M | -$5.93M | -$2.54M | -$7.48M | -$6.91M | -$4.28M | -$43K | -$516 |
| Operating Margin | -35.7% | -1235.3% | -44.3% | -34.5% | -71.2% | -34.4% | -37.4% | -25.0% | -29.9% | -19.9% | -105.5% | -186.8% | -774.5% | - | - |
| Interest Expense | $101K | $90K | $964K | $2.97M | $917K | $576K | $449K | $554K | $760K | $923K | $849K | $551K | $587K | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $103 | $97 | $11 | -$19K | $0 | $0 |
| Other Income (Expense) | -$101K | -$90K | -$22K | -$5.38M | -$586K | -$576K | -$449K | -$554K | -$757K | -$916K | -$804K | -$225K | $51K | $0 | $0 |
| Income Before Tax (EBT) | -$1.74M | -$837K | -$12.64M | -$27.41M | -$39.58M | -$16.41M | -$14.83M | -$8.62M | -$6.69M | -$3.45M | -$8.28M | -$7.14M | -$4.23M | -$43K | -$516 |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$1.74M | -$837K | -$12.64M | -$27.41M | -$39.58M | -$16.41M | -$14.83M | -$8.62M | -$6.69M | -$3.45M | -$8.28M | -$7.14M | -$4.23M | -$43K | -$516 |
| Net Income Margin | -37.9% | -1383.3% | -44.4% | -43.0% | -72.3% | -35.6% | -38.6% | -26.8% | -33.8% | -27.1% | -116.8% | -192.9% | -765.2% | - | - |
| Supplementary Data | |||||||||||||||
| EPS | -0.05 | -0.00 | -0.95 | -2.99 | -5.99 | -3.54 | -5.17 | -4.05 | -4.86 | -3.33 | -32.92 | -47.94 | -39.54 | -0.36 | -0.01 |
| Diluted EPS | -0.05 | -0.00 | -0.95 | -2.99 | -5.99 | -3.54 | -5.17 | -4.05 | -4.86 | -3.33 | -32.92 | -47.94 | -39.54 | -0.36 | -0.01 |
| Weighted Average OS | 35.61M | 180.10M | 13.33M | 9.16M | 6.61M | 4.63M | 2.87M | 2.13M | 1.38M | 1.04M | 251,529 | 148,939 | 106,960 | 117,597 | 199,463 |
| EBITDA | -$1.55M | -$747K | -$11.86M | -$23.53M | -$37.87M | -$14.84M | -$13.35M | -$7.48M | -$5.51M | -$2.17M | -$7.11M | -$6.41M | -$3.6M | -$43K | -$516 |
| EBITDA Margin | -33.8% | -1235.3% | -41.6% | -36.9% | -69.1% | -32.2% | -34.8% | -23.2% | -27.8% | -17.0% | -100.4% | -173.3% | -651.4% | - | - |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 | 2015-03-31 | 2014-03-31 | 2013-03-31 | 2012-03-31 | 2011-08-31 |
| Assets | |||||||||||||||
| Current Assets | |||||||||||||||
| Cash and Cash Equivalents | $3K | $841 | $1.04M | $1.53M | $9.13M | $4.56M | $11.03M | $989K | $604K | $1.19M | $90K | $3K | $65K | $1K | $5K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $3K | $841 | $1.04M | $1.53M | $9.13M | $4.56M | $11.03M | $989K | $604K | $1.19M | $90K | $3K | $65K | $1K | $5K |
| Accounts Receivable | $342K | $558K | $6.52M | $7.93M | $8.46M | $4.92M | $3.07M | $2.6M | $1.42M | $911K | $416K | $166K | $15K | $0 | $0 |
| Inventory | $255K | $639K | $5.59M | $8.58M | $4.41M | $2.92M | $2.06M | $1M | $820K | $435K | $193K | $58K | $8K | $0 | $0 |
| Other Current Assets | $0 | $0 | $122K | $188K | $236K | $87K | $0 | $0 | $0 | $0 | $0 | $54K | $0 | $4K | $0 |
| Total Current Assets | $599K | $1.2M | $15.95M | $21.16M | $23.27M | $14.18M | $16.54M | $4.89M | $3.15M | $2.55M | $717K | $281K | $87K | $5K | $5K |
| Long-Term Assets | |||||||||||||||
| Property, Plant & Equipment Net | $355K | $443K | $2.08M | $1.34M | $1.28M | $1.42M | $1.94M | $1.17M | $1.12M | $1.23M | $1.2M | $287K | $38K | $11K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $62K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | -$62K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15K | -$11K | $0 |
| Total Long-Term Assets | $355K | $443K | $2.08M | $1.34M | $1.28M | $1.42M | $1.94M | $1.17M | $1.12M | $1.23M | $1.2M | $287K | $53K | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $300 | $0 | $0 | -$30 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $954K | $1.64M | $18.03M | $22.5M | $24.55M | $15.61M | $18.48M | $6.06M | $4.27M | $3.78M | $1.92M | $568K | $140K | $5K | $5K |
| Liabilities | |||||||||||||||
| Current Liabilities | |||||||||||||||
| Accounts Payable | $714K | $615K | $11.62M | $10.44M | $7.06M | $5.41M | $2.9M | $2.05M | $1.34M | $847K | $606K | $339K | $13K | $0 | $0 |
| Short-Term Debt | $315K | $747K | $9.6M | $9.27M | $4.65M | $7.29M | $3.13M | $2.72M | $1.44M | $800K | $243K | $83K | $150K | $8K | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $76K | $0 | $0 | $0 |
| Other Current Liabilities | $2.1M | $983K | $0 | $0 | $0 | $0 | $0 | $288 | $3K | $11K | $195K | $262K | $0 | -$8K | $0 |
| Total Current Liabilities | $3.13M | $2.35M | $23.34M | $21.92M | $13.24M | $13.98M | $7.13M | $5.6M | $3.43M | $2.15M | $1.41M | $836K | $170K | $21K | $604 |
| Long-Term Liabilities | |||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $84K | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $0 | $22K | $179K | $293K | $0 | $0 | $0 | $8K | $95K | $234K | $84K | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.13M | $2.35M | $23.37M | $22.1M | $13.54M | $13.98M | $7.13M | $5.6M | $3.44M | $2.25M | $1.65M | $920K | $170K | $21K | $604 |
| Stockholders' Equity | |||||||||||||||
| Preferred Stock | $100 | $100 | $3K | $4K | $0 | $3K | $5K | $5K | $23K | $23K | $20K | $20K | $0 | $0 | $0 |
| Common Stock | $356K | $180K | $10K | $7K | $87K | $46K | $40K | $26K | $18K | $15K | $2K | $82K | $78K | $7K | $5K |
| Retained Earnings | -$136.13M | -$134.39M | -$137.08M | -$109.52M | -$69.93M | -$53.52M | -$38.69M | -$30.08M | -$23.39M | -$19.93M | -$11.65M | -$4.51M | -$283K | -$43K | -$516 |
| Comprehensive Income & Other | $0 | $0 | -$77K | $0 | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $133.6M | $133.51M | $131.73M | $109.91M | $80.86M | $55.1M | $50.01M | $30.51M | $24.2M | $21.45M | $11.92M | $4.08M | $176K | $21K | $0 |
| Total Equity | -$2.18M | -$705K | -$5.34M | $401K | $11.01M | $1.62M | $11.36M | $460K | $833K | $1.53M | $270K | -$352K | -$29K | -$15K | $4K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $954K | $1.64M | $18.03M | $22.5M | $24.55M | $15.61M | $18.48M | $6.06M | $4.27M | $3.78M | $1.92M | $568K | $140K | $5K | $5K |
| Supplementary Data | |||||||||||||||
| Total Debt | $315K | $747K | $9.75M | $9.62M | $5.18M | $7.39M | $3.13M | $2.72M | $1.63M | $1.14M | $686K | $83K | $150K | $8K | $0 |
| Net Debt | $312K | $746K | $8.72M | $8.09M | -$3.96M | $2.83M | -$7.9M | $1.73M | $1.03M | -$54K | $596K | $81K | $85K | -$1K | -$5K |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 | 2018-03-31 | 2017-03-31 | 2016-03-31 | 2015-03-31 | 2014-03-31 | 2012-03-31 | 2011-08-31 |
| Operating Activities | |||||||||||||||
| Net Income | -$1.74M | -$837K | -$12.64M | -$27.41M | -$39.58M | -$16.41M | -$14.83M | -$8.62M | -$6.69M | -$3.45M | -$8.28M | -$7.14M | -$4.23M | -$43K | -$516 |
| Depreciation & Amortization | $89K | $0 | $761K | $900K | $801K | $998K | $1.02M | $581K | $419K | $360K | $318K | $175K | $42K | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$8.74M | -$3.73M | -$1.59M | $0 | -$3K | -$8K | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $8.41M | $3.73M | $1.59M | $393K | $3.55M | $379K | $4.55M | $3.73M | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||
| Accounts Receivable | -$283K | -$61K | $3.2M | $1.41M | $531K | -$3.54M | -$1.85M | -$469K | -$1.18M | -$508K | -$495K | -$256K | -$161K | $0 | $0 |
| Inventory | -$255K | $0 | $4.64M | $2.99M | -$4.18M | -$1.49M | -$862K | -$1.06M | -$182K | -$385K | -$241K | -$135K | -$50K | $0 | $0 |
| Accounts Payable | $99K | $51K | $4.87M | $862K | $3.39M | $1.65M | $2.51M | $846K | $709K | $496K | $242K | $269K | $325K | $0 | $0 |
| Other Working Capital | $1.72M | $711K | $1.47M | $3.39M | -$1.16M | $782K | -$1.23M | $194K | $374K | -$93K | $98K | $67K | $71K | -$4K | $504 |
| Total Working Capital Change | $1.28M | $702K | $14.19M | $8.65M | -$1.42M | -$2.6M | -$1.43M | -$485K | -$279K | -$490K | -$397K | -$56K | $185K | -$4K | $504 |
| Other Non-Cash Items | $101K | $90K | $77K | $7.43M | $8.71M | $3.73M | $1.59M | -$288 | $370K | $659K | $698K | $138K | $2.61M | $7K | $0 |
| Net Cash from Operating | -$266K | -$46K | $2.38M | -$10.43M | -$31.82M | -$14.28M | -$13.64M | -$8.13M | -$2.63M | -$2.55M | -$3.11M | -$3.15M | -$1.39M | -$40K | -$12 |
| Investing Activities | |||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$1.44M | -$992K | -$585K | -$489K | -$1.36M | -$318K | -$253K | -$345K | -$352K | -$276K | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | -$1.44M | -$992K | -$585K | -$489K | -$1.36M | -$318K | -$253K | -$345K | -$352K | -$276K | $0 | $0 |
| Financing Activities | |||||||||||||||
| Debt Repaid | - | - | - | - | -$3.8M | -$326K | - | -$539K | -$223K | -$1.54M | $1.27M | -$133K | -$83K | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $5.27M | $5.19M | $14.9M | $1M | $17.24M | $1.95M | $425K | $3.75M | $2.36M | $1.1M | $24K | $5K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$43K | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $5.65M | $13.5M | $7.18M | $2.5M | $1.88M | $0 | $300K | $0 | $1.34M | $0 | $0 | $0 |
| Net Cash from Financing | $268K | $47K | -$3.42M | $11.38M | $25.21M | $19.43M | $7.66M | $19.53M | $3.33M | $2.22M | $4.56M | $3.59M | $1.61M | $37K | $5K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $2K | $841 | -$1.04M | -$492K | -$7.6M | $4.57M | -$6.47M | $10.04M | $385K | -$588K | $1.1M | $87K | -$62K | -$3K | $5K |
| Supplementary Data | |||||||||||||||
| Operating Cash Flow | -$266K | -$46K | $2.38M | -$10.43M | -$31.82M | -$14.28M | -$13.64M | -$8.13M | -$2.63M | -$2.55M | -$3.11M | -$3.15M | -$1.39M | -$40K | -$12 |
| Capital Expenditure | $4 | -$3 | -$4 | -$1.44M | -$992K | -$585K | -$489K | -$1.36M | -$318K | -$253K | -$345K | -$352K | -$276K | -$4 | $0 |
| Free Cash Flow | -$266K | -$46K | $2.38M | -$11.87M | -$32.81M | -$14.87M | -$14.13M | -$9.48M | -$2.94M | -$2.81M | -$3.45M | -$3.5M | -$1.67M | -$40K | -$10 |
| Cash at Beginning | $841 | $0 | $1.04M | $1.53M | $9.13M | $4.56M | $11.03M | $989K | $604K | $1.19M | $90K | $3K | $65K | $5K | $0 |
| Cash at End | $3K | $841 | $0 | $1.04M | $1.53M | $9.13M | $4.56M | $11.03M | $989K | $604K | $1.19M | $90K | $3K | $1K | $5K |