Overview
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- TickerGWRS on Nasdaq1
- IndustryWater Supply1
- HeadquartersPhoenix, Arizona1
- Incorporated inDE2
- Business address21410 N. 19Th Avenue, Suite 220, Phoenix, Az 850272
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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GWRI is a water resource management company that owns, operates, and manages thirty-nine water, wastewater, and recycled water public utility systems in strategically located communities, principally in metropolitan Phoenix and Tucson, Arizona. We seek to deploy an integrated approach, referred to as “Total Water Management.” Total Water Management is a comprehensive approach to water utility management that reduces demand on scarce non-renewable water sources and costly renewable water supplies, in a manner that ensures sustainability and greatly benefits communities both environmentally and economically. This approach employs a series of principles and practices that can be tailored to each community:4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
12.8%Operating margin5
5.3%Net margin5
5.8%Revenue growth, 20255
3.4%Return on equity5
1.50×Debt to equity5
-$47.2MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Water Services brought in 51% of the revenue Global Water Resources, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Water Services | $26.1M | $28.6M |
| Wastewater And Recycled Water | $26.6M | $27.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs93¢$51.8M
- Income tax2¢$1.0M
- Profit5¢$3.0M
Out of $55.8M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Capital spending89¢$67.3M
- Dividends paid11¢$8.2M
Out of $20.2M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenue | $55.8M | $52.7M |
| Operations and maintenance | $15.7M | $13.7M |
| General and administrative | $17.9M | $16.9M |
| Depreciation, amortization and accretion | $15.0M | $12.7M |
| Total operating expenses | $48.6M | $43.3M |
| Operating Income | $7.2M | $9.4M |
| Interest income | $446.0K | $946.0K |
| Interest expense | -$6.0M | -$6.1M |
| Other, net | $2.3M | $3.6M |
| Total other expense | -$3.2M | -$1.5M |
| Income Before Income Taxes | $4.0M | $7.9M |
| Income Tax Expense | -$1.0M | -$2.1M |
| Net Income | $3.0M | $5.8M |
| Basic earnings per common share (in dollars per share) | $0.11 | $0.24 |
| Diluted earnings per common share (in dollars per share) | $0.11 | $0.24 |
| Dividends declared per common share (in dollars per share) | $0.30 | $0.30 |
| Basic (in shares) | 27.0M shares | 24.2M shares |
| Diluted (in shares) | 27.1M shares | 24.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Utility Plant | $610.8M | $515.4M | |
| Less: accumulated depreciation | -$168.9M | -$153.6M | |
| Net utility plant | $441.9M | $361.7M | |
| Cash and cash equivalents | $4.1M | $9.0M | |
| Accounts receivable, net of allowance for credit losses of $244 and $163, respectively | $3.7M | $3.2M | |
| Unbilled revenue | $3.4M | $3.1M | |
| Prepaid expenses and other current assets | $3.4M | $4.1M | |
| Total current assets | $14.6M | $19.5M | |
| Goodwill | $6.5M | $9.5M | |
| Intangible assets, net | $6.1M | $6.1M | |
| Regulatory assets | $7.0M | $4.0M | |
| Restricted cash | $2.8M | $2.1M | |
| Right-of-use assets, net | $4.0M | $2.2M | |
| Other noncurrent assets | $117.0K | $78.0K | |
| Total other assets | $26.4M | $23.9M | |
| Total Assets | $482.9M | $405.1M | |
| Common stock, $0.01 par value, 60,000,000 shares authorized; 29,116,183 and 24,570,994 shares issued, respectively | $285.0K | $240.0K | |
| Treasury stock, 359,329 and 344,978 shares, respectively | -$2.0K | -$2.0K | |
| Additional paid-in capital | $87.3M | $47.4M | |
| Retained deficit | -$961.0K | $0 | |
| Total shareholders equity | $86.6M | $47.6M | $48.6M |
| Long-term debt, net | $129.8M | $118.5M | |
| Total Capitalization | $216.4M | $166.1M | |
| Accounts payable | $2.3M | $2.1M | |
| Customer and meter deposits | $1.7M | $1.6M | |
| Long-term debt, current portion | $3.9M | $3.9M | |
| Leases, current portion | $850.0K | $871.0K | |
| Accrued expenses and other current liabilities | $10.5M | $13.8M | |
| Total current liabilities | $19.2M | $22.3M | |
| Long-term lease liabilities | $3.7M | $1.4M | |
| Deferred revenue - ICFA | $22.8M | $21.5M | |
| Regulatory liabilities | $5.2M | $5.4M | |
| Advances in aid of construction | $155.4M | $126.5M | |
| Contributions in aid of construction, net | $37.9M | $36.8M | |
| Deferred income tax liabilities, net | $9.7M | $9.7M | |
| Other noncurrent liabilities | $12.6M | $15.4M | |
| Total other liabilities | $247.3M | $216.8M | |
| Total Capitalization and Liabilities | $482.9M | $405.1M | |
| Accounts receivable, allowance for credit losses | $244.0K | $163.0K | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, authorized (in shares) | 60.0M shares | 60.0M shares | |
| Common stock, issued (in shares) | 29.1M shares | 24.6M shares | |
| Treasury stock (in shares) | 359.3K shares | 345.0K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Utility Plant | $610.8M | $515.4M | |
| Less: accumulated depreciation | -$168.9M | -$153.6M | |
| Net utility plant | $441.9M | $361.7M | |
| Cash and cash equivalents | $4.1M | $9.0M | |
| Accounts receivable, net of allowance for credit losses of $244 and $163, respectively | $3.7M | $3.2M | |
| Unbilled revenue | $3.4M | $3.1M | |
| Prepaid expenses and other current assets | $3.4M | $4.1M | |
| Total current assets | $14.6M | $19.5M | |
| Goodwill | $6.5M | $9.5M | |
| Intangible assets, net | $6.1M | $6.1M | |
| Regulatory assets | $7.0M | $4.0M | |
| Restricted cash | $2.8M | $2.1M | |
| Right-of-use assets, net | $4.0M | $2.2M | |
| Other noncurrent assets | $117.0K | $78.0K | |
| Total other assets | $26.4M | $23.9M | |
| Total Assets | $482.9M | $405.1M | |
| Common stock, $0.01 par value, 60,000,000 shares authorized; 29,116,183 and 24,570,994 shares issued, respectively | $285.0K | $240.0K | |
| Treasury stock, 359,329 and 344,978 shares, respectively | -$2.0K | -$2.0K | |
| Additional paid-in capital | $87.3M | $47.4M | |
| Retained deficit | -$961.0K | $0 | |
| Total shareholders equity | $86.6M | $47.6M | $48.6M |
| Long-term debt, net | $129.8M | $118.5M | |
| Total Capitalization | $216.4M | $166.1M | |
| Accounts payable | $2.3M | $2.1M | |
| Customer and meter deposits | $1.7M | $1.6M | |
| Long-term debt, current portion | $3.9M | $3.9M | |
| Leases, current portion | $850.0K | $871.0K | |
| Accrued expenses and other current liabilities | $10.5M | $13.8M | |
| Total current liabilities | $19.2M | $22.3M | |
| Long-term lease liabilities | $3.7M | $1.4M | |
| Deferred revenue - ICFA | $22.8M | $21.5M | |
| Regulatory liabilities | $5.2M | $5.4M | |
| Advances in aid of construction | $155.4M | $126.5M | |
| Contributions in aid of construction, net | $37.9M | $36.8M | |
| Deferred income tax liabilities, net | $9.7M | $9.7M | |
| Other noncurrent liabilities | $12.6M | $15.4M | |
| Total other liabilities | $247.3M | $216.8M | |
| Total Capitalization and Liabilities | $482.9M | $405.1M | |
| Accounts receivable, allowance for credit losses | $244.0K | $163.0K | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, authorized (in shares) | 60.0M shares | 60.0M shares | |
| Common stock, issued (in shares) | 29.1M shares | 24.6M shares | |
| Treasury stock (in shares) | 359.3K shares | 345.0K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | $3.0M | $5.8M |
| Depreciation, amortization and accretion | $15.0M | $12.7M |
| Share-based compensation | $861.0K | $1.0M |
| Deferred income tax expense | $58.0K | $1.5M |
| AFUDC-Equity | -$1.2M | -$892.0K |
| Loss on disposal of fixed assets | $1.3M | $309.0K |
| Operating lease expense | $367.0K | $384.0K |
| Other adjustments | $254.0K | $125.0K |
| Accounts receivable and other current assets | $85.0K | -$2.0M |
| Accounts payable and other current liabilities | $151.0K | -$915.0K |
| Other noncurrent assets | -$195.0K | $565.0K |
| Other noncurrent liabilities | $537.0K | $3.2M |
| Net cash provided by operating activities | $20.2M | $21.8M |
| Capital expenditures | -$67.3M | -$32.3M |
| Cash paid for acquisitions, net of cash acquired | -$8.1M | -$150.0K |
| Other cash flows used in investing activities | $0 | -$4.0K |
| Net cash used in investing activities | -$75.4M | -$32.5M |
| Dividends paid | -$8.2M | -$7.3M |
| Advances and contributions in aid of construction | $6.2M | $10.6M |
| Refunds of advances for construction | -$1.4M | -$1.4M |
| Principal payments under finance lease | -$401.0K | -$273.0K |
| Proceeds from issuance of long-term debt | $15.2M | $22.4M |
| Repayments of long-term debt | -$3.9M | -$3.9M |
| Revolver borrowings | $10.9M | $0 |
| Revolver repayments | -$10.9M | -$2.3M |
| Issuance of common stock, net of issuance costs | $44.1M | $0 |
| Financing costs of debt and equity transactions | -$443.0K | -$418.0K |
| Other financing activities | -$182.0K | -$316.0K |
| Net cash provided by financing activities | $50.9M | $17.1M |
| Increase (Decrease) in cash, cash equivalents, and restricted cash | -$4.3M | $6.4M |
No quarter-by-quarter statement was filed.
Corporate structure
Global Water Resources, Inc. sits at the top of its group. 13 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Global Water Resources, Inc.
- Andrew M. Cohn Filed SCHEDULE 13D/A on Global Water Resources, Inc., latest Aug 24, 2026 (5 filings since Feb 10, 2023)
- Jonathan L. Levine Filed SCHEDULE 13D/A on Global Water Resources, Inc., latest Aug 24, 2026 (3 filings since Feb 22, 2023)
- Handelsbanken Fonder AB Filed SCHEDULE 13G/A on Global Water Resources, Inc., latest Apr 27, 2026 (2 filings since Jan 24, 2024)
- Polar Asset Management Partners Inc. Filed SC 13G/A on Global Water Resources, Inc., latest Feb 13, 2024 (3 filings since Feb 8, 2022)
- Global Water Resources, Inc. Phoenix, Arizona
- Global Water - Belmont Water Company, Inc. Subsidiary · Arizona, United States
- Global Water - CP Water Company, Inc. Subsidiary · Arizona, United States
- Global Water - Farmers Water Company, Inc. Subsidiary · Arizona, United States
- Global Water - Hassayampa Utilities Company, Inc. Subsidiary · Arizona, United States
- Global Water - Ocotillo Water Company, Inc. Subsidiary · Arizona, United States
- Global Water - Palo Verde Utilities Company, Inc. Subsidiary · Arizona, United States
- Global Water - Saguaro District Water Company, Inc. Subsidiary · Arizona, United States
- Global Water - Santa Cruz Water Company, Inc. Subsidiary · Arizona, United States
- Global Water - Turner Ranches Irrigation, Inc. Subsidiary · Arizona, United States
- Global Water Holdings, Inc. Subsidiary · Arizona, United States
- Global Water, LLC Subsidiary · Delaware, United States
- West Maricopa Combine, LLC Subsidiary · Arizona, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Global Water Resources, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finance-lease assets | $1.3M5 Dec 31, 2025 | $1.1M5 Dec 31, 2024 | +12.4% |
| Operating-lease assets (leased space) | $2.7M5 Dec 31, 2025 | $1.0M5 Dec 31, 2024 | +166.5% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $6.5M5 Dec 31, 2025 | $9.5M5 Dec 31, 2024 | −31.4% |
| Intangible assets, net (excluding goodwill) | $6.1M5 Dec 31, 2025 | $6.1M5 Dec 31, 2024 | 0% |
| Indefinite-lived intangibles (excluding goodwill) | $2.4M10 Dec 31, 2024 | $1.8M10 Dec 31, 2023 | +28.0% |
| Finite-lived intangibles, gross | $25.4M5 Dec 31, 2025 | $25.4M5 Dec 31, 2024 | 0% |
| Accumulated amortization | $19.3M5 Dec 31, 2025 | $19.3M5 Dec 31, 2024 | 0% |
| Finite-lived intangibles, net | $6.1M5 Dec 31, 2025 | $6.1M5 Dec 31, 2024 | 0% |
Properties, in its own words
The following table lists the principal properties that we own or lease as of December 31, 2025. Water utility plant primarily consists of water distribution centers, well sites, booster stations, water storage and water treatment facilities, Wastewater utility plant primarily consists of lift stations, wastewater recycling facilities and recycled water booster stations. Our existing properties are adequate to meet our current needs.
Operated by · Nature of Property · Count · County
The rest of Item 2
GW-Santa Cruz · Water Utility Plant · 25 · Pinal
GW-Palo Verde · Wastewater Utility Plant · 16 · Pinal
GW-Belmont · Water Utility Plant · 16 · Maricopa
GW-Hassayampa · Wastewater Utility Plant · 1 · Maricopa
GW-Saguaro · Water Utility Plant · 15 · Pima
GW-Farmers · Water Utility Plant · 11 · Pima
GW-Ocotillo · Water Utility Plant · 34 · Pima
GW-Turner · Water Utility Plant · 7 · Maricopa
GWRI · Corporate Office · 1 · Maricopa
Item 2 of the 10-K filed Mar 4, 2026.4
Leadership
Who has led Global Water Resources, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
20202025
- Chief executive officerRonnie L. Fleming Jul 1, 2016 to now14
- PresidentRonnie L. Fleming Jul 1, 2016 to now14
- Chief financial officerMichael J. Liebman Aug 2, 2016 to now15
- Chief operating officerChristopher D. Krygier Mar 2, 2023 to now16
Board members and other officers (27)
- Vice President and ControllerKyle Upchurch Jul 9, 2026 to now17
- EVP Eng & Env ResourcesRobert J. Kuta Jan 16, 2025 to now18
- Vice President and ControllerSuzanne Michelle Kitts Sep 1, 2022 to Aug 26, 202419
- Former DirectorDavid C. Tedesco May 14, 2021 to May 14, 202120
- Former DirectorWilliam S. Levine May 14, 2021 to Mar 14, 202321
- VP, Water ResourcesJohn Carroll Lenderking Feb 4, 2020 to now22
- Chief Strategy OfficerChristopher D. Krygier Jun 4, 2020 to Feb 2, 202323
- Vice President and ControllerHeather M. Krupa Aug 13, 2019 to Aug 13, 202124
- Vice PresidentJason Thuneman Jun 13, 2017 to Jul 5, 202325
- Vice President and ControllerJeffrey E. Risenmay Jun 13, 2017 to Aug 14, 201726
- Vice PresidentJoanne Ellsworth Jun 13, 2017 to now27
- Vice PresidentJonathan C. Corwin Jun 15, 2017 to now28
- OfficerMichael J. Liebman Apr 27, 2016 to Jul 1, 201629
- OfficerRonnie L. Fleming Apr 27, 2016 to May 5, 201630
- Board memberChrista Steele Jan 7, 2026 to now31
- Board memberAndrew M. Cohn May 12, 2021 to now32
- Board memberDavid Rousseau Feb 27, 2019 to now33
- Board memberBrett Huckelbridge May 30, 2018 to now34
- Board memberDebra Coy May 30, 2018 to now35
- Board memberCindy M. Bowers Apr 27, 2016 to Mar 14, 201936
- Board memberDavid C. Tedesco Apr 27, 2016 to May 4, 202137
- Board memberL. Rita Theil Apr 27, 2016 to Aug 1, 201838
- Board memberRichard M. Alexander Apr 27, 2016 to now39
- Board memberTrevor T. Hill Apr 27, 2016 to Jun 18, 201840
- Board memberWilliam S. Levine Apr 27, 2016 to May 4, 202141
- Board memberMichael J. Liebman May 5, 2016 to May 5, 201642
- Board memberRonnie L. Fleming May 5, 2016 to now43
Named in SEC Form D filings
People the company listed in its private-offering notices.
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Global Water - Belmont Water Company, Inc. Arizona3
- Global Water - CP Water Company, Inc. Arizona3
- Global Water - Farmers Water Company, Inc. Arizona3
- Global Water - Hassayampa Utilities Company, Inc. Arizona3
- Global Water - Ocotillo Water Company, Inc. Arizona3
- Global Water - Palo Verde Utilities Company, Inc. Arizona3
- Global Water - Saguaro District Water Company, Inc. Arizona3
- Global Water - Santa Cruz Water Company, Inc. Arizona3
- Global Water - Turner Ranches Irrigation, Inc. Arizona3
- Global Water Holdings, Inc. Arizona3
- Global Water Resources, Inc. Delaware3
- Global Water, LLC Delaware3
- West Maricopa Combine, LLC Arizona3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 1, 20268-K Entered a material agreement; New debt or obligation45
- Aug 21, 20268-K Entered a material agreement; Unregistered sale of shares46
- Aug 13, 20268-K Results of operations47
- May 18, 20268-K Shareholder vote48
- May 13, 20268-K Results of operations49
- May 4, 20268-K Entered a material agreement; New debt or obligation50
- Apr 30, 20268-K Entered a material agreement; Other events51
- Apr 15, 20268-K Other events52
- Mar 4, 20268-K Results of operations53
- Dec 16, 20258-K Entered a material agreement; New debt or obligation54
- Nov 17, 20258-K Executive or director change55
- Nov 12, 20258-K Results of operations56
- Jul 1, 2016New chief executive Ronnie L. Fleming becomes CEO14
Calendar
Coming up
- Nov 5, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.07 a share, on Nov 12, 2025.57
When it reported results
- Aug 13, 2026Reported quarterly or annual results47
- May 13, 2026Reported quarterly or annual results49
- Mar 4, 2026Reported quarterly or annual results53
- Nov 12, 2025Reported quarterly or annual results56
- Aug 13, 2025Reported quarterly or annual results58
- May 14, 2025Reported quarterly or annual results59
- Mar 6, 2025Reported quarterly or annual results60
- Nov 6, 2024Reported quarterly or annual results61
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
973 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 52 major events, 860 insider forms, 13 large holders, 3 private raises, 25 other. The latest 20:
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 3, 2026D EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 20264 EDGAR
The 973 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
56 open-market trades by officers, directors and large owners since October 2021: 51 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Levine Jonathan LDirector | Buy | 651,618 | $8.85 | $5.8M | Form 4 |
| Aug 20, 2026 | Cohn Andrew M.Director | Buy | 139,343 | $8.85 | $1.2M | Form 4 |
| May 20, 2026 | Liebman Michael JCFO and Corporate Secretary | Buy | 7,000 | $6.89 | $48.3K | Form 4 |
| May 20, 2026 | Krygier Christopher DChief Operating Officer | Buy | 5,389 | $6.87 | $37.0K | Form 4 |
| May 19, 2026 | Lenderking John CarrollSVP, Water Resources | Buy | 700 | $6.85 | $4.8K | Form 4 |
| Mar 13, 2026 | Cohn Andrew M.Director | Buy | 18,305 | $7.20 | $131.8K | Form 4 |
| Sep 30, 2025 | Cohn Andrew M.Director | Buy | 154,026 | $10.30 | $1.6M | Form 4 |
| Sep 30, 2025 | Levine Jonathan LDirector | Buy | 728,197 | $10.30 | $7.5M | Form 4 |
| Mar 27, 2025 | Cohn Andrew M.Director | Buy | 252,000 | $10.00 | $2.5M | Form 4 |
| Mar 27, 2025 | Levine Jonathan LDirector | Buy | 1,187,200 | $10.00 | $11.9M | Form 4 |
| Jan 31, 2025 | Brill Steven D.VP of IT Operations | Buy | 8 | $11.64 | $88 | Form 4 |
| Dec 30, 2024 | Brill Steven D.VP of IT Operations | Buy | 8 | $11.44 | $88 | Form 4 |
| Nov 27, 2024 | Brill Steven D.VP of IT Operations | Buy | 7 | $13.23 | $87 | Form 4 |
| Sep 30, 2024 | Brill Steven D.VP of IT Operations | Buy | 7 | $12.57 | $88 | Form 4 |
| Sep 11, 2024 | Brill Steven D.VP of IT Operations | Buy | 6 | $12.74 | $76 | Form 4 |
| Aug 23, 2024 | Kitts Suzanne MichelleVice President and Controller | Sale | 1,513 | $12.28 | $18.6K | Form 4 |
| Aug 19, 2024 | Krygier Christopher DChief Operating Officer | Buy | 1,258 | $11.92 | $15.0K | Form 4 |
| Aug 15, 2024 | Brill Steven D.VP of IT Operations | Buy | 13 | $11.60 | $151 | Form 4 |
| Jul 8, 2024 | Cohn Andrew M.Director | Sale | 536 | $11.95 | $6.4K | Form 4 |
| Jul 2, 2024 | Cohn Andrew M.Director | Buy | 536 | $12.00 | $6.4K | Form 4 |
All 56 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Andrew M. CohnSCHEDULE 13D/A, 5 filings Feb 10, 2023 to Aug 24, 202662
- Jonathan L. LevineSCHEDULE 13D/A, 3 filings Feb 22, 2023 to Aug 24, 202663
- Handelsbanken Fonder ABSCHEDULE 13G/A, 2 filings Jan 24, 2024 to Apr 27, 202664
- Polar Asset Management Partners Inc.SC 13G/A, 3 filings Feb 8, 2022 to Feb 13, 202465
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Ron L. Fleming | 46 | $385.0K | $819.4K66 |
| 2025 | Michael J. Liebman | 49 | $308.0K | $610.3K66 |
| 2025 | Christopher D. Krygier | 42 | $275.0K | $458.4K66 |
| 2024 | ChairmanPresident, and Chief Executive Officer | $367.5K | $753.7K66 | |
| 2024 | Chief Financial Officer and Corporate Secretary | $294.0K | $541.4K66 | |
| 2024 | Chief Operating Officer | $262.5K | $389.4K66 |
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Global Water Resources, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGlobal Water Resources, Inc.1
- CIK0001434728
- Employer ID (EIN)90-06321934
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)4941 Water Supply1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address21410 N. 19Th Avenue, Suite 220, Phoenix, AZ 850271
- Phone480-999-34611
- Shares outstanding28,795,352 as of Aug 7, 202612
- Public float$135.1M as of Jun 30, 20254
- AuditorDELOITTE & TOUCHE LLP, Tempe, Arizona PCAOB ID 34; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceMay 13, 20081
- Filings1,853 in all: 4 (1,548), 8-K (101), 10-Q (32), 3 (26), 4/A (17), SC 13G (13), 424B5 (11), 10-K (10)1
All 37 form types
DEF 14A (10), DEFA14A (10), CORRESP (7), SC 13G/A (7), 3/A (6), EFFECT (5), S-1/A (5), D (4), S-3 (4), S-8 (4), 144 (3), ARS (3), SC 13D/A (3), SCHEDULE 13D/A (3), UPLOAD (3), FWP (2), S-1 (2), SC 13D (2), SCHEDULE 13D (2), 10-K/A (1), 144/A (1), 424B4 (1), 5 (1), 8-A12B (1), CERTNAS (1), RW (1), S-1MEF (1), S-3/A (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 4, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Mar 31, 2026
Latest 8-K (8-K) Sep 1, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | GWRS | The NASDAQ Stock Market, LLC |
From the cover page of the 10-K filed Mar 4, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Global Water Resources, Inc. names in Item 1A of its 10-K filed Mar 4, 2026: 48 risks under these headings, as written.4
- Legal, Regulatory, and Legislative Factors
- We are subject to the jurisdiction and regulations of the ACC, the primary utility regulator in Arizona, and our financial condition depends upon our ability to recover costs in a timely manner from customers through regulated rates.
- New or stricter regulatory standards or other governmental actions could increase our regulatory compliance and operating costs, require us to alter our existing distribution or treatment facilities, and/or cause us to build additional facilities, which could cause our profitability to suffer, particularly if we are unable to increase our rates to offset such costs.
- We have significant obligations under ICFAs, yet funds from our ICFAs are dependent on development activities by developers which we do not control, and are also subject to certain regulatory requirements.
- Our ability to expand into new service areas and to expand current water and wastewater service depends on approval from regulatory agencies. Failure to obtain required regulatory approvals will adversely affect future growth.
- Proposals to change utility policy in Arizona made through legislative, regulatory, or ballot initiatives may impact our growth, business plans, and financial condition.
- We are subject to environmental risks that may subject us to clean-up costs or litigation that could adversely affect our business, operating results, financial condition, and prospects.
- Changes in, interpretations of, or enforcement trends related to tax rules and regulations may adversely affect our effective income tax rates or operating margins and we may be required to pay additional tax assessments.
- We are exposed to various risks relating to legal proceedings or claims that could materially adversely affect our operating results.
- Our water and wastewater systems are subject to condemnation by governmental authorities, which may result in the receipt of less than the fair market value of our assets, and a loss of revenue from our operations.
- Business and Operational Factors
- The risk of natural adverse weather conditions, pandemic outbreaks, global political events, war or terrorism could disrupt our business, impacting operating costs and capital expenditures.
The other 38 risks
- We may have difficulty recruiting and retaining qualified personnel, and due to the technical and specialized nature of our business, our profitability may suffer if we do not have the necessary workforce.
- Increased operating expenses associated with the expansion of our business may negatively impact our operating income.
- Climate variability may cause increased volatility in weather and may impact water usage and related revenue or require additional expenditures, all of which may not be fully recoverable in rates or otherwise.
- We do not control when and where a developer may request service within our service areas, and if this occurs outside the location and capacity of existing infrastructure, it may require significantly more capital expenditures than currently anticipated.
- Inadequate water supplies and wastewater capacity could have a material adverse effect upon our ability to achieve the customer growth necessary to increase our revenue.
- If we do not manage our anticipated growth effectively, we may not be able to develop or implement the infrastructure necessary to support our operations and could suffer a loss of profitability.
- We face risks associated with the design, construction, and operation of our systems that may adversely affect our business and financial condition.
- Operating costs, construction costs and costs of providing service can be volatile and may rise faster than revenue.
- Contamination of the water supplied by us may result in disruption in our service, loss of credibility, lower demand for our service and potential liability that could adversely affect our business and financial condition.
- We depend on an adequate supply of electricity and chemicals for the delivery of our water, and an interruption in the supply of these inputs or increases in their prices could adversely affect our results of operations.
- Our utilities business is subject to seasonal fluctuations and other weather-related conditions, such as droughts, which could adversely affect the supply of and demand for our service and our results of operations.
- Our operations of regulated utilities are currently located exclusively in the state of Arizona, and more specifically approximately 81.9% of our active service connections are within a single municipality, which increases the impact of local conditions on our results of operations.
- If future acquisitions do not achieve sufficient profitability relative to expenses and investment, our business and ability to finance our operations could be materially adversely affected.
- The nature of our business exposes us to various liability claims, which may exceed the level of our insurance coverage and thereby not be reimbursed fully by insurance proceeds, or not be covered by our insurance at all, and may also make it difficult for us to obtain insurance coverage at affordable rates.
- Any failure of our network of treatment facilities, water and wastewater pipes and water reservoirs could result in losses and damages that may affect our financial condition and reputation.
- We may have difficulty accomplishing our growth strategy within and outside of our current service areas. This would cause us to rely more heavily on regulatory rate increases to increase our revenue.
- Risks associated with the collection, treatment and disposal of wastewater and the operation of water utilities may impose significant costs that may not be covered by insurance, which could result in increased insurance premiums.
- We are subject to industrial risks that could adversely affect our results of operations.
- We face competition for new service areas and acquisition targets.
- Service interruptions, including due to any disruption or problem at our facilities could increase our expenses.
- We are subject to adverse publicity and reputational risks, which make us vulnerable to negative customer perception and could lead to increased regulatory oversight or other sanctions.
- Pandemics, epidemics or disease outbreaks could adversely affect our business operations, cash flows and financial position to an extent that is difficult to predict.
- Doing business in jurisdictions other than Arizona may present unforeseen regulatory, legal and operational challenges that could impede or delay our operations or adversely affect our profitability.
- If the general public perceives recycled water to be unsafe, we will have difficulty executing our business plan and could face a loss of revenue.
- Technology Factors
- Our information technology systems may be vulnerable to unauthorized external or internal threats due to hacking, ransomware, viruses or other cybersecurity breaches.
- We rely on information technology systems to assist with the management of our business and customer relationships. A disruption or interruption of these systems could adversely affect our business and operations.
- Maintaining our operational technology and information technology systems or implementing new systems could result in higher than expected costs or otherwise adversely impact our internal controls environment, operations and profitability.
- We rely on telecommunications vendors for communication between our sites and to enable centralized management of information and operation technologies. Disruption of those communication systems may adversely affect our results of operations.
- Market and Financial Factors
- We will need additional capital to grow our business, and additional financing may not be available to us on favorable terms when required, or at all.
- Our existing indebtedness could affect our business adversely and limit our ability to plan for or respond to growth opportunities, and we may be unable to generate sufficient cash flow to satisfy our liquidity needs.
- Our growth depends significantly on increased residential and commercial development in our service areas, and if developers or builders are unable to complete additional residential and commercial projects, our revenue may not increase.
- Foreclosure rates in our service areas, as well as other factors affecting real estate development, could affect the growth of our regulated customer base or result in a decline in our revenue.
- Risks Related to the Ownership of Our Common Stock
- The concentration of our stock ownership with our officers, directors, certain stockholders and their affiliates may limit your ability to influence corporate matters.
- Our common stock may be volatile or may decline regardless of our operating performance, and you may not be able to resell your shares at or above your purchase price.
- We cannot assure you that we will pay dividends on our common stock, and our indebtedness could limit our ability to pay dividends on our common stock.
- Our failure to maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act as a public company could have a material adverse effect on our business and share price.
- Taking advantage of the reduced disclosure requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
- Delaware law, certain provisions in our certificate of incorporation and bylaws, and regulations of the ACC may prevent efforts by our stockholders to change the direction or management of the Company.
Legal proceedings
In the ordinary course of business, the Company may, from time to time, be subject to various pending and threatened lawsuits in which claims for monetary damages are asserted. To our knowledge, the Company is not involved in any legal proceeding which is expected to have a material effect on the Company.
The opening of Item 3, Legal Proceedings.4
Sources
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- 20SEC EDGARDavid C. Tedesco, Former Director
- 21SEC EDGARWilliam S. Levine, Former Director
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- 25SEC EDGARJason Thuneman, Vice President
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- 27SEC EDGARJoanne Ellsworth, Vice President
- 28SEC EDGARJonathan C. Corwin, Vice President
- 29SEC EDGARMichael J. Liebman, Officer
- 30SEC EDGARRonnie L. Fleming, Officer
- 31SEC EDGARChrista Steele, Board member
- 32SEC EDGARAndrew M. Cohn, Board member
- 33SEC EDGARDavid Rousseau, Board member
- 34SEC EDGARBrett Huckelbridge, Board member
- 35SEC EDGARDebra Coy, Board member
- 36SEC EDGARCindy M. Bowers, Board member
- 37SEC EDGARDavid C. Tedesco, Board member
- 38SEC EDGARL. Rita Theil, Board member
- 39SEC EDGARRichard M. Alexander, Board member
- 40SEC EDGARTrevor T. Hill, Board member
- 41SEC EDGARWilliam S. Levine, Board member
- 42SEC EDGARMichael J. Liebman, Board member
- 43SEC EDGARRonnie L. Fleming, Board member
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- 47SEC EDGARResults of operations
- 48SEC EDGARShareholder vote
- 49SEC EDGARResults of operations
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- 52SEC EDGAROther events
- 53SEC EDGARResults of operations
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- 55SEC EDGARExecutive or director change
- 56SEC EDGARResults of operations
- 57NasdaqNasdaq calendar
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