The Company Expects to Report Record Revenue of
Approximately $19.6 Million
Third-Party Data Shows Alkaline88’s 52-Week
Retail Sales Up Over 36% Year-over-Year
(All amounts in U.S. dollars)(unaudited)
The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the
“Company”), the country’s largest independent alkaline water
company and the Clean Beverage® company, today announced it expects
to report record revenue of approximately $19.6 million for the
second quarter of fiscal year 2023, representing year-over-year
growth of 28%.
“The second quarter fiscal 2023 was The Alkaline Water Company’s
best sales quarter ever,” said Frank Lazaran, President and CEO of
The Alkaline Water Company. “Alkaline88® continues to show strong
growth at retail, with more consumers buying our products at more
stores across the country than ever before, and that has translated
into record revenue for the Company.”
According to Nielsen data for All Outlets Combined including
Convenience (xAOC+Conv.) for the period ending October 8, 2022:
- Alkaline88® grew 36.6% year-over-year in dollar volume
in the trailing 52 weeks
- This growth rate was over 2.5 times greater than that of
the overall Value-Added Water category
- The Value-Added Water Category was the
second-fastest-growing category behind only Water (for
non-alcoholic categories above $100 million in total retail
sales)
- Alkaline88’s 13-week retail sales tracked by Nielsen were
over $26 million
“The Alkaline Water Company has grown to record revenue while
increasing operational efficiency by executing our pathway to
profitability strategy,” continued Mr. Lazaran. “We look forward to
sharing the full results of this record quarter with our
shareholders next week.”
The Company plans to release the full results for its second
quarter fiscal 2023 on Monday, November 14th, 2022 after market
close. Management plans to host a conference call to discuss the
results on the morning of Tuesday, November 15th at 8:30 a.m.
Eastern Time.
Conference Call Details:
Date: November 15, 2022 Time: 8:30 a.m. Eastern Time (ET)
Dial-in Number for U.S. and Canadian Callers: 877-407-3088 Dial-in
Number for International Callers (Outside of the U.S. and Canada):
201-389-0927 Conference ID Number: 13734370
Selected preliminary financial results
for the second quarter of Fiscal 2023
This news release presents preliminary results, for the period
presented, of the Company. Included above are certain estimated
preliminary unaudited financial results for the second quarter of
fiscal 2023. These results are preliminary and subject to change,
and there is a possibility that the Company’s actual results may
differ materially from these preliminary estimates. These results
are based on the information available to the Company as of the
date of this news release.
These estimated preliminary results for the second quarter of
fiscal 2023 are derived from the preliminary internal financial
records of the Company and are subject to revisions based on the
Company’s procedures and controls associated with the completion of
the Company’s financial reporting, including all the customary
reviews and approvals.
These estimated preliminary results should not be viewed as a
substitute for financial statements prepared in accordance with
U.S. GAAP. The Company’s independent registered public accounting
firm has not conducted a review of, and does not express an opinion
or any other form of assurance with respect to, these estimated
preliminary results. It is possible that the Company or its
independent registered public accounting firm may identify items
that would require the Company to make adjustments to the
preliminary estimates set forth above as the Company completes its
financial statements and that the Company’s actual results may
differ materially from these preliminary estimates. Accordingly,
undue reliance should not be placed on these preliminary estimates.
These preliminary estimates are not necessarily indicative of any
future period and should be read together with the risk factors
disclosure outlined in the reports and other documents the Company
files with the SEC, available at www.sec.gov, and on the SEDAR,
available at www.sedar.com.
About The Alkaline Water Company:
The Alkaline Water Company is the Clean Beverage® company making
a difference in the water you drink and the world we share.
Founded in 2012, The Alkaline Water Company (NASDAQ and CSE:
WTER) is headquartered in Scottsdale, Arizona. Its flagship
product, Alkaline88®, is a leading premier alkaline water brand
available in bulk and single-serve sizes along with eco-friendly
aluminum packaging options. With its innovative, state-of-the-art
proprietary electrolysis process, Alkaline88® delivers perfect 8.8
pH alkaline drinking water with trace minerals and electrolytes and
boasts our trademarked “Clean Beverage” label. In 2021, The
Alkaline Water Company was pleased to welcome Shaquille O’Neal to
its board of advisors and to serve as the celebrity brand
ambassador for Alkaline88®.
To purchase The Alkaline Water Company’s products online, visit
us at www.alkaline88.com.
To learn more about The Alkaline Water Company, please visit
www.thealkalinewaterco.com or connect with us on Facebook, Twitter,
Instagram, or LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements.”
Statements in this news release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such forward-looking statements include, among other things, the
following: the statements relating to expected record revenue of
approximately $19.6 million for second quarter of fiscal year 2023,
representing year-over-year growth of 28%; and the statements
relating to the Company’s pathway to profitability strategy.
The material assumptions supporting these forward-looking
statements include, among others, that the Company’s cost-saving
and margin enhancement measures will be fully implemented and, once
implemented, they will be effective to reduce the Company’s annual
expense and enhance the Company’s margin to the extent anticipated
by the Company; that the Company’s burn rate to reach the level
anticipated by the Company as a result of the Company’s proactive
reduction in its monthly burn rate; that the demand for the
Company’s products will continue to significantly grow; that the
past production capacity of the Company’s co-packing facilities can
be maintained or increased; that there will be increased production
capacity through implementation of new production facilities, new
co-packers and new technology; that there will be an increase in
number of products available for sale to retailers and consumers;
that there will be an expansion in geographical areas by national
retailers carrying the Company’s products; that there will be an
expansion into new national and regional grocery retailers; that
there will be an expansion into new e-commerce, home delivery,
convenience, and healthy food channels; that there will not be
interruptions in production of the Company’s products; that there
will not be a recall of products due to unintended contamination or
other adverse events relating to the Company’s products; and that
the Company will be able to obtain additional capital to meet the
Company’s growing demand and satisfy the capital expenditure
requirements needed to increase production and support sales
activity. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, governmental regulations being implemented
regarding the production and sale of alkaline water or any other
products, including products containing hemp/CBD; the fact that
consumers may not embrace and purchase any of the Company’s
CBD-infused products; the fact that the Company may not be
permitted by the FDA or other regulatory authority to market or
sell any of its CBD-infused products; additional competitors
selling alkaline water and enhanced water products in bulk
containers reducing the Company’s sales; the fact that the Company
does not own or operate any of its production facilities and that
co-packers may not renew current agreements and/or not satisfy
increased production quotas; the fact that the Company has a
limited number of suppliers of its unique bulk bottles; the
potential for supply-chain interruption due to factors beyond the
Company’s control; the fact that there may be a recall of products
due to unintended contamination; the inherent uncertainties
associated with operating as an early stage company; changes in
customer demand and the fact that consumers may not embrace
enhanced water products as expected or at all; the extent to which
the Company is successful in gaining new long-term relationships
with new retailers and retaining existing relationships with
retailers; the Company’s ability to raise the additional funding
that it will need to continue to pursue its business, planned
capital expansion and sales activity; and competition in the
industry in which the Company operates and market conditions. These
forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements, except as required by applicable law, including the
securities laws of the United States and Canada. Although the
Company believes that any beliefs, plans, expectations and
intentions contained in this news release are reasonable, there can
be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Readers should consult all of
the information set forth herein and should also refer to the risk
factors disclosures outlined in the reports and other documents the
Company files with the SEC, available at www.sec.gov, and on the
SEDAR, available at www.sedar.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221109006065/en/
The Alkaline Water Company Inc. Jeff Wright Director of
Investor Relations 866-242-0240
investors@thealkalinewaterco.com
Media Jessica Starman 888-461-2233
jessica@elev8newmedia.com
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