Alkaline Water Co Q1 Sales $15.00M Down From $16.89M YoY

Author: Benzinga Newsdesk | September 22, 2023 01:06pm

First Quarter of Fiscal 2024 Financial Performance (all amounts in U.S. dollars):

• Revenue: Down 8% Year-over-Year (YoY) to $15 MM.
• Gross Profit Margin: Improved by 733 basis points YoY to 25%.
• Total Operating Expenses (OpEx): Decreased by over $3 million YoY.
• Net Cash Used in Operating Activities: Improved 84% YoY, from ($2.5MM) to ($408K).

"During the first quarter of our fiscal year 2024, we continued to show strong improvement in our operating results as we execute our previously detailed pathway to profitability," stated Frank Chessman, President and CEO of The Alkaline Water Company. "This achievement, highlighted by our 733 basis point improvement in gross profit margin, reflects the strength of the Alkaline88® brand, the hard work of our team, and the loyalty of our customers. I am also pleased to report that the Company is now current with all of its filing requirements with the SEC, and certain internal improvements have been implemented to ensure timely filings going forward," concluded Mr. Chessman.

Posted In: WTER