WTER ALKALINE WATER Co INC

Overview and Growth

Fiscal 2023 results for ALKALINE WATER Co INC combined $63.78M of revenue with net loss of $27.41M and an operating cash outflow of $10.43M. The $63.78M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 16.4% above fiscal 2022 revenue of $54.77M, marking a year-over-year increase. The company reported diluted EPS of -$2.99, adding a shareholder-level measure to the absolute income figures considered below. Diluted shares averaged 9.16M; this is the reported share base over which the company’s diluted per-share earnings were spread. The diluted share count was 38.6% higher than fiscal 2022, when diluted shares averaged 6.61M, adding context to the EPS comparison. Total assets stood at $18.03M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 3.54x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $11.65M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 18.3% of revenue, showing how much of the top line remained after direct costs. Operations produced a $22.03M operating loss before non-operating and tax effects. Relative to revenue, the operating deficit measured 34.5%, showing the shortfall after operating costs. The company ended the period with a net loss of $27.41M, extending the operating result through all remaining items. The net loss equaled 43.0% of revenue, showing the bottom-line deficit relative to the company’s sales base. EBITDA was negative $21.13M, showing a deficit before interest, taxes, depreciation, and amortization. Relative to total assets, the net loss represented 152.0%. The bottom-line deficit decreased from $39.58M in fiscal 2022 to $27.41M.

Liquidity and Capital Structure

Total assets were $18.03M, supported by $23.37M of liabilities and -$5.34M of shareholder equity. Equity was negative at -$5.34M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. Current assets were $15.95M against $23.34M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 0.68x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. The company held $1.04M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 4.4%, excluding receivables and other current assets. Equity equaled -29.6% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 129.6%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 5.8%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $22.50M in fiscal 2022, the current asset base moved 19.9% and finished lower. The reported cash balance changed 32.2% from $1.53M in fiscal 2022, ending lower year over year.

Cash Flow and Earnings Quality

Operating activities used $10.43M of cash, resulting in an operating cash outflow for the year. The company spent $1.44M on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Negative free cash flow was $11.87M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 18.6%. Relative to total assets, the post-investment cash deficit measured 65.9%. Cash absorbed by operations decreased from $31.82M in fiscal 2022 to $10.43M.

Based on the annual report for the fiscal year ending Mar 31, 2023. Analysis generated Oct 21, 2026.