Member Info for CEOAdam

WATR: Revenue up 9% to $90.4M, adjusted EBITDA up 15%, and international sales surged 44%

$90m revenue and double-digit EBITDA growth “poor?” says more about the narrative than the numbers.

Full-year performance is improving, margins are moving up, and the company is buying back stock at lows with only ~16.9m shares in issue (~574k already in treasury).

That’s a powerful setup — feels like short-term noise over long-term reality.

A lot better than companies raising funds.

FY25 excellent numbers.

Revenue +9% ($90.4m)

EBITDA +15% ($16.5m)

Margins up to 18%

Debt low at 1.17x EBITDA

I will keep this on my radar. Unfortunately since the last unexpected fund raise. The pumpy posts wont do much until the next hopefully good news RNS.

The share price has performed better here yes short term. Turnover growth and profit is much better at Water Intelligence.

Andi come over to Water Intelligence to say this was going to be much better share. Sorry Andi. It isnt. So its back to Water Intelligence.

Taser - These shares could well be for employees. I'm all for rewarding hard work. We dont know if or when these will be given out. They could give them out as options and not allowed to sell until share price hits £6.

This gives the employees a good reason work hard.

Taser - Over 500,000 shares bought back over the year.

Cash in bank is up.

If this isnt for you then sell.

Patience will reep reward.

I can't say no to these shares, just looking at the annual bar chart graph on Google it is an excellent growth slope. Until that changes, then I'm more than happy to keep topping up.

Good luck in the future Taser. I will still be here picking up shares on the dips. My last sell here was £13 after buying at £2.65 back in 2019.

I am certainly not selling at £2.70 at current price. This share has done amazing for me.

Which shareholders have been mistreated?

Do you wait for a down day before posting?? You go very quiet on the rising days.

Holder my ar$e.

Not for me. They can't even buy sandwiches. You have to treat growth with reward. Stick to WATR. They also have 138 million shares in issue compared to WATR 17 Million.

Why should they keep doing buy backs? There is only 17m shares available as it is.

One of the most overlooked parts of WATR is the recurring revenue model being quietly built out.

StreamLabs (Chubb partnership)

WATR doesn’t just sell sensors. They install, monitor, and bundle them into ongoing aftercare subscriptions.

This creates long-term customer value, not one-off sales.

Importantly, StreamLabs is owned by Chubb – the world’s largest publicly traded property and casualty insurer (market cap over $100 billion). This is enterprise-level tech with deep backing.

TES Model – Margin-first rollout

TES stands for Technology-Enabled Services.

It combines StreamLabs sensors, Salesforce data integration, and ALD’s 45+ field units to deliver real-time detection, repair, and analytics.

Margins in Dallas already exceed 30%. The model is now being rolled out across the UK and Ireland.

Aftercare and Compliance Revenue

WATR is moving into subscription-based services:

Preventive inspections

Compliance reporting

Real-time alerts

Video engagement tools (via SEEEN)

All designed to lock in long-term revenue and meet insurer and regulator requirements.

Conclusion

WATR is evolving from a leak repair company into an infrastructure partner with high-margin, recurring revenues.

This transition is not priced in — but it should be.

Yes, the $2.17m PBT is for Jan–April. The £10.2m from Canaccord is an estimate, not a statutory figure — that’s clear.

But there are still reasons to expect improvement in H2:

April alone was up 20% YoY.

Early-year costs (Texas, Salesforce) won’t repeat.

StreamLabs only just went live — zero monetisation in Q1.

Rollouts (TES, training) should start scaling from Q3.

I’m not saying £10.2m is guaranteed — just that the gap isn’t unexplainable. Let’s see what they deliver.

Also worth noting: historically, Water Intelligence tends to deliver stronger results in Q3 and Q4, due to seasonality in leak detection demand and completion of key rollouts (like TES, Salesforce, and training programs). So extrapolating Jan–April flatly across the year may understate the back-half potential.

Thanks — that clears it up. The $2.17m figure is from the YTD update (Jan–April), so we’re agreed it's not for H1 or FY — just 4 months.

As for the £10.2m adjusted PBT — helpful to know it's from the Canaccord broker note. That makes it a forecast, not a company guarantee — and definitely not statutory.

So yes it’s fair to scrutinise, but let’s not confuse actuals with projections — or short-term with long-term. Always easier to debate when we’re all looking at the same facts.

Could you clarify where the £2.17m PBT (Jan–April 2025) and £10.2m adjusted PBT forecast for FY25 figures are coming from?