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Segment information (Tables)
3 Months Ended
Mar. 31, 2025
Segment information  
Schedule of segment reporting information, by segment

 

Three Months Ended March 31, 2025

 

Retail

    

Bulk

    

Services

    

Manufacturing

Corporate

    

Total

Revenue

$

9,411,342

$

8,411,716

$

10,078,268

$

5,814,059

$

    

$

33,715,385

Cost of revenue

 

3,706,063

 

5,584,089

 

8,061,877

 

4,057,069

 

 

21,409,098

Gross profit

 

5,705,279

 

2,827,627

 

2,016,391

 

1,756,990

 

 

12,306,287

General and administrative expenses

 

788,812

 

346,081

 

2,195,338

 

664,078

 

3,729,650

 

7,723,959

Gain (loss) on asset dispositions and impairments, net

 

29,976

 

 

(1,541)

 

 

 

28,435

Income (loss) from operations

4,946,443

2,481,546

(180,488)

1,092,912

(3,729,650)

 

4,610,763

Interest income

 

32,866

 

204,103

 

143,319

 

1

236,305

616,594

Interest expense

(1,528)

(1,528)

Income (loss) from affiliates

(34,004)

64,478

30,474

Other

28,308

14,933

36

74

43,351

Other income, net

61,174

219,036

141,827

(33,929)

300,783

688,891

Income (loss) before income taxes

 

5,007,617

 

2,700,582

 

(38,661)

 

1,058,983

(3,428,867)

 

5,299,654

Provision (benefit) for income taxes

 

 

 

(35,893)

 

246,010

 

210,117

Net income (loss) from continuing operations

 

5,007,617

 

2,700,582

 

(2,768)

 

812,973

(3,428,867)

 

5,089,537

Income from continuing operations attributable to non-controlling interests

 

 

165,427

 

 

 

165,427

Net income (loss) from continuing operations attributable to Consolidated Water Co. Ltd. stockholders

$

5,007,617

$

2,535,155

$

(2,768)

$

812,973

$

(3,428,867)

 

4,924,110

Net loss from discontinued operations

 

  

 

  

 

  

 

  

 

(133,081)

Net income attributable to Consolidated Water Co. Ltd. stockholders

 

  

 

  

 

  

 

  

$

4,791,029

Three Months Ended March 31, 2024

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Revenue

$

8,624,938

$

8,342,094

$

17,417,611

$

5,304,747

$

$

39,689,390

Cost of revenue

 

3,551,344

 

5,565,258

 

12,668,939

 

4,025,826

 

 

25,811,367

Gross profit

 

5,073,594

 

2,776,836

 

4,748,672

 

1,278,921

 

 

13,878,023

General and administrative expenses

 

766,698

 

344,141

 

1,597,854

 

517,702

 

3,337,634

 

6,564,029

Income (loss) from operations

4,306,896

2,432,695

3,150,818

761,219

(3,337,634)

 

7,313,994

Interest income

 

56,593

 

204,319

 

73,204

 

1

25

334,142

Interest expense

(31,123)

(2,378)

(33,501)

Income from affiliate

77,566

77,566

Other

20,599

5,960

601

11,660

1,157

39,977

Other income, net

46,069

210,279

71,427

11,661

78,748

418,184

Income (loss) before income taxes

 

4,352,965

 

2,642,974

 

3,222,245

 

772,880

(3,258,886)

 

7,732,178

Provision (benefit) for income taxes

 

 

 

778,286

 

169,153

(325,743)

 

621,696

Net income (loss) from continuing operations

 

4,352,965

 

2,642,974

 

2,443,959

 

603,727

(2,933,143)

 

7,110,482

Income from continuing operations attributable to non-controlling interests

 

 

169,068

 

 

 

169,068

Net income (loss) from continuing operations attributable to Consolidated Water Co. Ltd. stockholders

$

4,352,965

$

2,473,906

$

2,443,959

$

603,727

$

(2,933,143)

 

6,941,414

Net loss from discontinued operations

 

  

 

  

 

  

 

  

 

(467,066)

Net income attributable to Consolidated Water Co. Ltd. stockholders

 

  

 

  

 

  

 

  

$

6,474,348

The Company’s cost of revenue consists of:

Three Months Ended March 31, 2025

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Subcontractor and other project costs

$

$

$

3,457,402

$

3,284,142

$

$

6,741,544

Employee costs

757,868

543,300

4,270,363

589,221

6,160,752

Electricity

1,173,586

1,043,386

33,027

10,803

2,260,802

Fuel oil

1,820,056

1,820,056

Depreciation

613,884

689,516

90,598

38,862

1,432,860

Maintenance

220,625

401,642

127,517

99,955

849,739

Insurance

171,534

451,607

26,284

649,425

Retail license royalties

598,086

598,086

Other

170,480

634,582

56,686

34,086

895,834

$

3,706,063

$

5,584,089

$

8,061,877

$

4,057,069

$

$

21,409,098

Three Months Ended March 31, 2024

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Subcontractor and other project costs

$

$

$

7,899,850

$

3,297,314

$

$

11,197,164

Employee costs

676,857

494,411

4,456,690

574,365

6,202,323

Electricity

1,262,250

900,432

72,693

9,113

2,244,488

Fuel oil

2,109,673

2,109,673

Depreciation

610,745

664,675

92,637

40,193

1,408,250

Maintenance

182,994

403,666

108,297

67,160

762,117

Insurance

170,049

397,941

4,982

572,972

Retail license royalties

522,184

522,184

Other

126,265

594,460

33,790

37,681

792,196

$

3,551,344

$

5,565,258

$

12,668,939

$

4,025,826

$

$

25,811,367

Other cost of revenue segment expenses above primarily include chemicals and other supplies, government fees and licenses, and freight costs.

The Company’s general and administrative expenses consist of:

Three Months Ended March 31, 2025

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Employee costs

$

380,860

$

88,809

$

1,002,379

$

341,560

$

2,173,287

$

3,986,895

Professional fees

15,162

21,265

340,000

67,562

624,690

1,068,679

Insurance

103,871

97,009

37,100

84,809

214,949

537,738

Depreciation and amortization

10,580

5,327

155,691

26,179

17,071

214,848

Other

278,339

133,671

660,168

143,968

699,653

1,915,799

$

788,812

$

346,081

$

2,195,338

$

664,078

$

3,729,650

$

7,723,959

Three Months Ended March 31, 2024

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Employee costs

$

360,897

$

85,571

$

934,141

$

280,621

$

1,968,756

$

3,629,986

Professional fees

22,200

16,429

88,287

3,330

447,259

577,505

Insurance

90,983

91,773

56,228

60,394

204,688

504,066

Depreciation and amortization

9,276

6,815

159,114

25,955

20,449

221,609

Other

283,342

143,553

360,084

147,402

696,482

1,630,863

$

766,698

$

344,141

$

1,597,854

$

517,702

$

3,337,634

$

6,564,029

Other general and administrative segment expenses primarily include Board of Directors fees and expenses, maintenance, office rent, amortization of intangible assets, and investor relations costs.

The Company’s segment assets are presented below.

 

As of March 31, 2025

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Cash and cash equivalents

$

19,590,795

$

20,476,902

$

41,443,086

$

1,620,997

$

24,720,452

$

107,852,232

Accounts receivable, net

$

3,719,025

$

25,961,825

$

5,974,673

$

512,067

$

24,522

$

36,192,112

Inventory, current and non-current

$

3,430,692

$

5,133,101

$

826,704

$

3,253,475

$

$

12,643,972

Contract assets

$

$

$

1,331,507

$

8,186,161

$

$

9,517,668

Property, plant and equipment, net

$

32,917,197

$

17,888,288

$

948,957

$

1,597,357

$

191,543

$

53,543,342

Construction in progress

$

627,517

$

2,208,200

$

$

1,641,983

$

$

4,477,700

Intangibles, net

$

$

$

1,988,277

$

544,445

$

$

2,532,722

Goodwill

$

1,170,511

$

1,948,875

$

7,756,807

$

1,985,211

$

$

12,861,404

Total segment assets

$

63,355,243

$

75,452,021

$

63,654,305

$

19,757,550

$

27,980,139

$

250,199,258

Assets of discontinued operations

$

169,707

Total assets

$

250,368,965

 

As of December 31, 2024

     

Retail

    

Bulk

    

Services

    

Manufacturing

    

Corporate

    

Total

Cash and cash equivalents

$

19,167,484

$

13,339,206

$

34,181,902

$

4,768,376

$

27,893,153

$

99,350,121

Accounts receivable, net

$

3,223,190

$

28,807,257

$

6,593,276

$

946,846

$

10,413

$

39,580,982

Inventory, current and non-current

$

3,437,771

$

4,865,117

$

167,856

$

5,828,567

$

$

14,299,311

Contract assets

$

$

$

1,204,522

$

3,265,721

$

$

4,470,243

Property, plant and equipment, net

$

31,689,586

$

18,093,155

$

858,352

$

1,601,501

$

189,688

$

52,432,282

Construction in progress

$

1,951,559

$

2,480,999

$

$

711,159

$

$

5,143,717

Intangibles, net

$

$

$

2,129,037

$

567,778

$

$

2,696,815

Goodwill

$

1,170,511

$

1,948,875

$

7,756,807

$

1,985,211

$

$

12,861,404

Total segment assets

$

62,994,011

$

71,743,161

$

56,792,772

$

20,095,648

$

31,415,104

$

243,040,696

Assets of discontinued operations

 

 

 

 

 

$

272,485

Total assets

 

 

 

 

 

$

243,313,181