The Alkaline Water Stock Price, News & Analysis

The Alkaline Water Company (NASDAQ: WTER) reported strong growth for the fiscal year 2023, ending March 31. The company expanded its distribution, adding products to over 11,000 new stores and enhancing offerings in 33,000 existing locations. Revenue increased by 29% year-over-year, and operating expenses and net loss improved by 33% and 30%, respectively. Alkaline88® retail sales surged with a year-over-year growth of 19.5%, significantly surpassing the category average. CEO Frank Chessman highlighted the brand's resilience amid economic challenges and a commitment to achieving profitability.

The Alkaline Water Company (NASDAQ: WTER) announced a significant expansion of its Alkaline88® brand, adding 1,141 new distribution points within The Kroger Co. across the United States, including 130 Fred Meyer locations. This nationwide distribution is expected to be completed by late April. Alkaline88® ranks as the best-selling bulk-sized enhanced water in the country, with its 1-Gallon product ranking 7th best out of the top-100 value-added-water SKUs based on sales per distribution point. The expansion is anticipated to enhance the company’s market presence and sales performance significantly.

The Alkaline Water Company (NASDAQ: WTER) has announced a 15-for-1 reverse stock split effective April 5, 2023, to comply with Nasdaq's minimum bid price of $1.00. The authorized shares will decrease from 200 million to 13.33 million, while the outstanding shares will drop from approximately 152 million to about 10.14 million. The reverse split aims to increase the per-share trading price, thereby maintaining the company's Nasdaq listing. Stockholders with electronic shares need not take action, while physical certificate holders will receive further instructions from the transfer agent.

The Alkaline Water Company (NASDAQ: WTER) has achieved nationwide distribution for its flagship Alkaline88® 1-Gallon product in all Whole Foods Market locations, expanding to 514 stores across 11 divisions. This recent rollout adds 306 stores, enhancing accessibility for organic food shoppers. Known as the top-selling bulk enhanced water product, Alkaline88's growth reflects strong performance in the natural grocery channel. The company's strategy focuses on ongoing brand expansion and cost-effective growth opportunities, aligning with its Pathway to Profitability.

The Alkaline Water Company (NASDAQ: WTER) has appointed Ronald DaVella as an independent director to its Board, effective March 17, 2023. With over four decades of financial experience, he will chair the audit committee and serve on the compensation committee. DaVella previously held executive positions, including CFO for NanoFlex Power Corp, and has extensive board experience, including with The Joint Corp. His appointment aims to enhance the Company’s financial governance and operational success. Chairman Frank Lazaran expressed optimism about DaVella's contribution to the company's growth and value creation for stakeholders.

The Alkaline Water Company Inc. (NASDAQ: WTER) is expanding its flagship product, Alkaline88 1-Gallon, into 160 new stores across California, Nevada, Arizona, and Hawaii by the end of March. This expansion follows successful testing in Arizona, with CEO Frank Chessman noting the demand for Alkaline88 as the best-selling bulk-sized enhanced water. Additionally, Chairman Aaron Keay has resigned effective March 13, 2023, to pursue other opportunities, with Frank Lazaran stepping in as non-executive Chairman. The company emphasizes its commitment to profitability while exploring further distribution expansion.

The Alkaline Water Company (NASDAQ: WTER) will showcase its latest products at Expo West 2023 in Anaheim, California, from March 9-11, 2023. Featured items include the rapidly growing 2-Liter Shaq Paq, the eco-friendly 750 aluminum bottle, and the new Alkaline88 Sport in infused flavors such as Jolly Watermelon, Fruit Punch, and Very Berry. The event offers a platform to connect with customers and industry leaders. CEO Frank Chessman highlighted the brand's performance in the natural food channel, promoting its all-natural and buffer-free properties. The company aims to expand its retail presence and build relationships with potential new buyers.

The Alkaline Water Company (NASDAQ: WTER) will exhibit at Expo West 2023 from March 9-11 in Anaheim, California. The company will showcase its popular 2-Liter Shaq Paq and eco-friendly 750 aluminum bottle, along with the newly launched Alkaline88 Sport in three flavors. President and CEO Frank Chessman highlighted the importance of the event for connecting with customers and promoting their growth in the natural food sector. The company aims to attract new buyers interested in high-quality alkaline water products, which have experienced significant retail sales growth.

The Alkaline Water Company reported its best third quarter ever with $15.9 million in sales, a 21% increase year-over-year. The company's gross profit reached $3.9 million with a gross margin of 24.7%, improving by 300 basis points from the previous quarter. Total operating expenses decreased by 46% to $7.5 million, while operating loss improved by 67% to $3.6 million. The cash position as of December 31, 2022, was approximately $2.2 million. CEO Frank Chessman emphasized a clear pathway to profitability despite challenging market conditions.