Filing Flows › Global Water Resources (GWRS) › Q3 2025
Global Water Resources (GWRS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Global Water Resources (GWRS) reported revenue of $15.5M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +9% from the quarter before. Operating margin was 18.8%, net earnings $1.7M (11.1% of revenue).
Global Water Resources, Q3 2025: revenue $15.5M (+8% year over year), operating margin 18.8%, net earnings $1.7M, operating cash flow $8.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.5M | +9% | +8% |
| Operating profit | $2.9M | +12% | -27% |
| Net earnings | $1.7M | +7% | -41% |
| Operating cash flow | $8.6M | +541% | +289% |
What changed
Revenue was $15.5M in Q3 2025, up 8% year over year and up 9% from the previous quarter. Water service was the largest line at 55% of revenue. Water service added $1.0M year over year (up 13%), 82% of the total change.
Operating profit was $2.9M, a 18.8% margin (down 9.0 points year over year). Operating profit fell $1.1M even though revenue rose $1.2M versus a year earlier, so costs grew faster than sales. Total costs grew 22% against revenue growth of 8%. The fastest-growing cost line was General & admin (+24%). Net earnings were $1.7M, down 41% year over year. The effective tax rate was 27.2%.
Operating cash flow was $8.6M (up 289% year over year), 504% of net earnings. Non-cash charges added back $3.6M of depreciation and amortization and $435K of share-based compensation. Working capital and other items added $2.9M. Capital expenditures of $14.2M exceeded it, leaving free cash flow of −$5.6M.
Questions
What was Global Water Resources' revenue in the third quarter 2025?
Global Water Resources (GWRS) reported revenue of $15.5M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +9% from the quarter before.
Was Global Water Resources profitable in the third quarter 2025?
Operating profit was $2.9M (18.8% of revenue) and net earnings $1.7M.