The Alkaline Water Co. shares traded 20% higher after the company reported that it posted a 51% growth in year-over-year revenue in Q4/20.
Alkaline Water Company Inc. (WTER:NASDAQ; WTER:CSE), which makes premium bottled alkaline water, flavored-infused waters, and CBD infused products that are sold under the brand names Alkaline88®, A88 Infused™ and A88CBD™, today announced some financial highlights for Q4/20.
The company reported that in Q4/20 it posted unaudited revenue of approximately $12.0 million, which was 51% higher than Q4/19 and 42% higher than Q3/20.
The company's President and CEO Richard A. Wright commented, "This quarter's results are a great way for our company to end our fiscal year. We now have tremendous momentum going into fiscal 2021. We expect our first quarter ending June 30, 2020, to set another revenue record. The current pandemic acted as a catalyst for some of the current quarter's growth, but also set the stage for significant future growth. During the pandemic, Alkaline88® was able to meet our retailer's demands. We believe that up to 30% more households tried our water during our fiscal Q4. This is highlighted by the recent Nielson report, where Alkaline88® was ranked as the 10th best selling value-added water, and the third fastest-growing top ten value-added water in the country during the 13 weeks ending May 16, 2020."
Wright added, "We are also very excited about the momentum we have built with new retailers and new product lines. We recently announced over 15,000 new retail locations, to bring our total to over 70,000 retail stores in all 50 states. Our sales team continues to focus on not only our Alkaline88® brand, but also our flavor-infused beverage line, our eco-friendly aluminum bottle, and the recently launched A88CBD™ line of topicals and ingestibles. There are several other catalysts for growth this coming year, which will include hospitality space and expansion of our e-commerce presence to meet new consumer buying habits. As we look to the future, we believe that we are building a strong national lifestyle brand and that our eco-friendly aluminum bottles, flavored infused waters, and CBD products will all contribute significantly to our fiscal year 2021's success."
The company noted that in Q4/20 it added over 15,000 retail locations for flagship products across retail channels including specialty discount, drug, grocery and convenience stores. The firm touched on several other Q4/20 operating highlights some of which included that it launched the A88CBD™ Ingestibles products line, expanded retail channels for its A88CD™ Topical products and it delivered 300,000 aluminum bottles of Alkaline88® in 500-ml sustainable single-serve packaging to the California and Texas markets.
The company advised that due to the impact of COVID-19 and imposed travel restrictions it intends to issue a press release and file a Form 8-K with the SEC on or before June 29, 2020, and at that time will provide the estimated date by which the company's Form 10-K is expected to be filed.
The Alkaline Water Company is based in Scottsdale, Ariz., and was founded in 2012.
Alkaline Water Co. has a market capitalization of around $79.9 million with approximately 59.61 million shares outstanding. WTER shares opened higher today at $1.71 (+$0.37, +27.61%) over yesterday's $1.34 closing price. The stock has traded today between $1.48 and $1.80 per share and is currently trading at $1.62 (+$0.28, +20.90%).
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