The Alkaline Water Company Inc. (NASDAQ: WTER) announced the best performance with a revenue of $46 million for the year ended March 31, 2021.
Continued with strong performance: The Alkaline Water reported another strong year, with an around 20% increase in the revenue to $46 million compared to the corresponding period last year. As per the management, the company is in a growth phase and never had a declining performance or a flat performance. Given the strong base, the company has seen a significant acceleration in its sales with the new fiscal year (Fiscal 2022). The company offering is available in over 75,000 stores in the U.S., and Alkaline Water has gained several appreciations during the pandemic by providing organic and new-store growth and expanding the presence further in the more key channels.
Guided for $62 million: Given the pent-up demand and strong acceleration in sales witnessed at the start of Fiscal 2022, the company guided a strong growth of ~35% with a revenue of $62 million. Since 2015, the company has grown at a Compounded Annual Growth Rate of 52%. The strong guidance in revenue is primarily backed by the launch of the Direct Store Delivery (DSD) strategy (Nevada Beverage, Mahaska, and Hensley Beverage Company), which currently serves around 16,000 clients. In addition, Alkaline Water also marked a presence into the Hospitality and Foodservice channel, and is also expected to support the revenue in Fiscal 2022.
In addition to the DSD strategy, the presence in brick and mortar space through their partners has helped the company grow well. In addition, the launch of a new product is also supported. To further mark its presence in the export market, Alkaline Water plans to enter the Mid-Atlantic and the Northeast region with Direct Store Delivery partners in the time to come.