Water Intelligence (WATR) H1 2025 earnings summary

Executive summary

• Revenue grew 8% year-over-year to $45 million, with momentum from a strong Q2 and continued EBITDA growth.

• Strategic focus on technology-enabled services and the StreamLabs partnership to drive competitive differentiation and organic growth.

• The Next 50 Growth Plan is underway, emphasizing preventive maintenance, technology-enabled solutions, and scalable operating models.

Financial highlights

• Adjusted EBITDA increased 16% to $9.2 million; Adjusted PBT rose 8% to $5.7 million year-over-year.

• Statutory PBT decreased 11% to $4.2 million due to IFRS 3 treatment of Irish acquisition profits and exclusion of Las Vegas gain.

• Adjusted EBITDA margin improved to 20% (from 19%); Adjusted PBT margin steady at 13%.

• Basic Adjusted EPS up 8% to 22.9 cents; Fully Diluted Adjusted EPS up 8% to 22.4 cents.

• Cash and equivalents at $8.42 million; Net debt to Adjusted EBITDA ratio at 1.24.

Outlook and guidance

• Anticipates accelerated organic growth and margin improvement from technology investments and StreamLabs partnership.

• New KPIs to be published in upcoming quarters to reflect gains from platform investments.

• Confident in delivering near-term results and maintaining a strong balance sheet for opportunistic acquisitions and share repurchases.