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We are a water solutions provider with a unique combination of land, water, pipeline and water filtration assets located in Southern California between major water systems serving population centers in the Southwestern United States. Our portfolio of assets includes 2.5 million acre-feet of permitted water supply, 1 million acre-feet of groundwater storage capacity, 220 miles of existing, under…
The business is unprofitable at the operating level (-156.92% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 69.8% YoY with margins expanding 85.1pp.
Negative free cash flow of -$27M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$15M
▲ +69.8% YoY
Net Income (TTM)
-$33M
▼ -9.7% YoY
Op. Margin
-166.10%
▲ +85.1pp YoY
ROIC
-20.01%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$27M
▼ -18.0% YoY
Op. Cash Flow (TTM)
-$21M
▲ +12.1% YoY
Net Debt
$72M
Cash & Equiv.
$17M
5Y CAGR: +97.6%
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