Global Water Resources, Inc. (NASDAQ: GWRS)

Global Water Resources Inc 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 The company seeks to deploy an integrated approach referred to as Total Water Management which reduces demand on scarce non renewable water sources and costly renewable water supplies while ensuring sustainability and providing environmental and economic benefits to communities This approach employs principles and practices such as reuse of recycled water regional planning use of advanced technology and data employing subject matter experts leading outreach and educational initiatives and establishing partnerships with communities developers and industry stakeholders As of December 31 2025 the company served more than 121000 people in approximately 40000 homes within its 418 square miles of ACC designated service areas

Global Water Resources Inc generates revenue primarily through the provision of water wastewater and recycled water utility services to residential commercial and industrial customers within its regulated service areas The company earns predictable rate regulated cash flows from its utilities with revenue derived from water sales wastewater treatment and recycled water distribution for non potable uses such as irrigation facilities cooling and industrial applications All of the companys total revenue in 2025 was accounted for by its regulated utilities which operate under the regulatory authority of the Arizona Corporation Commission The company also benefits from agreements with developers who are required to utilize recycled water within their communities and invest in purple pipe infrastructure supporting the companys water recycling model and conservation achievements

The company operates through the following segments GW Santa Cruz GW Palo Verde GW Hassayampa GW Belmont GW Turner GW Saguaro GW Farmers and GW Ocotillo

• GW Santa Cruz provides water service to approximately 30147 active service connections in Pinal County Arizona and represented approximately 402 percent of total revenue for the year ended December 31 2025.

• GW Palo Verde provides wastewater and recycled water service to approximately 29727 active service connections in Pinal County Arizona and represented approximately 487 percent of total revenue for the year ended December 31 2025.

• GW Hassayampa is a wastewater utility with two active service connections as of December 31 2025 serving approximately 43 square miles in western Maricopa County Arizona.

• GW Belmont provides water service to approximately 662 active service connections in Maricopa County Arizona serving an area of approximately 111 square miles west of the Hassayampa River and including two small subdivisions in northern Scottsdale.

• GW Turner is a non potable irrigation water utility serving approximately 962 residential and commercial irrigation customers in Maricopa County Arizona with approximately seven square miles of service area.

• GW Saguaro provided approximately 1565 active water connections in Sahuarita Arizona and unincorporated Pima County Arizona as of December 31 2025.

• GW Farmers provided approximately 3510 active water connections in Sahuarita Arizona and unincorporated Pima County Arizona as of December 31 2025.

• GW Ocotillo provided approximately 2002 active water connections in unincorporated Pima County Arizona as of December 31 2025.

Global Water Resources Inc occupies a distinctive position in the U. S water industry as an investor owned operator of integrated water and wastewater utilities focused on Total Water Management practices in arid western regions where water scarcity management is essential for long term economic sustainability The company faces competition for new service areas and acquisitions from entities such as EPCOR Water Arizona Inc Arizona Water Company Central States Water Resources NW Natural Water Company LLC Ullico Inc Liberty Utilities Community Water of Arizona and Voyager Water Company Its competitive advantages include the ability to integrate both water and wastewater service implement conservation practices throughout service areas leverage relationships with municipalities and developers and achieve economies of scale through centralized administrative and support activities which reduce costs to serve each customer

Global Water Resources Inc serves a customer base consisting of residential commercial and industrial users within its service areas in metropolitan Phoenix and Tucson Arizona The company provides water wastewater and recycled water utility service to more than 121000 people across approximately 40000 homes as of December 31 2025 Specific customer references include the City of Maricopa City of Casa Grande City of Coolidge and Town of Sahuarita with which the company has public private partnerships formally adopted through memoranda of understanding and or license franchise agreements to deploy its Total Water Management approach