Global Water Resources, Inc. Q1 FY2025 earnings call

• Operational highlights: Total active service connections increased 4.3% to 65,163 as of March 31, 2025; $15.2 million invested in infrastructure improvements in Q1 2025. Single-family dwelling unit permits in Phoenix area down in Q1 2025 but multifamily and industrial growth noted. - Rate case activity: Arizona Corporation Commission approved new rates for farmers water utility, started charging May 1; Santa Cruz and Palo Verde rate case filed on March 5, 2025, requesting $6.5 million net revenue increase; Tucson acquisition targeting summer close, working on final details.

Total revenue for the first quarter of 2025 was $12.5 million, up $0.8 million or 7.3% compared to Q1 2024. Operating expenses for Q1 2025 were $11.2 million, an increase of approximately $0.9 million or 8.3% compared to Q1 2024. Adjusted EBITDA was $5.6 million in Q1 2025, an increase of approximately $0.2 million or 4.4% compared to Q1 2024. Total active service connections increased 4.3% to 65,163 as of March 31, 2025 from the 12 months prior. Revenue contribution from various segments isn't explicitly broken down further in the provided transcript but key drivers were growth in active service connections and increased consumption.

• Believes 2025 will be a solid year, leveraging organic customer growth, new greenfield utilities, acquisitions, and rate cases. - Bullish on future potential due to economic factors in Arizona like population and job growth, ongoing multifamily, commercial, and industrial projects.