Alkaline Water Company (WTER) Announces Preliminary Q2 Results

The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline company and the Clean Beverage® company, today announced that it anticipates topline revenue for the second quarter of fiscal year 2022 to be approximately $15 million. This would be the best quarter on record and represent year-over-year growth approaching almost 50%. The Company reiterates full fiscal year 2022 revenue guidance of $62 million. The Company will officially report its full second quarter for fiscal year 2022 results in November.

“We anticipate the second quarter sales of fiscal 2022 will be a record and will represent our 34th straight comparable quarter of record growth,” stated Ricky Wright, President & CEO of The Alkaline Water Company. “It is now clear to us that our ability to increase production capacity through new co-packers and raw material manufacturers is creating new business opportunities. Just like last year, we are meeting demand when others cannot. This year, we have seen tremendous growth of our single-serve Alkaline88® SKUs. Recent wins like Sam’s Club, Giant Food, new SKUs at CVS, United Pacific convenience stores, and adding nine of the largest airports in the country have positioned us to continue significant growth. Another measure of growth is quarterly purchase orders which have steadily increased this year and set a new record in Q2 fiscal 2022. The momentum seems to be continuing in the current quarter.”

“We are looking forward to launching our omni-channel advertising campaign featuring one of the most respected and well-liked brand ambassadors in the world, Shaquille O’Neal. Based on preliminary interest from buyers, we believe the 2-liter Shaq Paq will be one of the most successful launches in the company’s history,” continued Ricky Wright. “As stated in our first quarter call, to meet guidance this year we need to outpace the last three quarters of fiscal 2021 by over 46%. Based on our continued organic growth and new initiatives including Hospitality, e-Commerce, Convenience Store, Functional CBD Water, and Club/Specialty Retailers/and Big Box we reiterate our guidance of $62 Million for fiscal year 2022.”

“I have to thank the tireless effort of all Alkaline88 employees, suppliers, co-packers, and brokers that make this kind of success possible, and look forward to the rest of this year and beyond,” concluded Ricky Wright.

Selected preliminary financial results for the second quarter of Fiscal 2022

This news release presents preliminary results, for the periods presented, of the Company. Included above are certain estimated preliminary unaudited financial results for the second quarter of fiscal 2022. These results are preliminary and subject to change, and there is a possibility that the Company’s actual results may differ materially from these preliminary estimates. These results are based on the information available to the Company as of the date of this news release.

These estimated preliminary results for the second quarter of fiscal 2022 are derived from the preliminary internal financial records of the Company and are subject to revisions based on the Company’s procedures and controls associated with the completion of the Company’s financial reporting, including all the customary reviews and approvals.

These estimated preliminary results should not be viewed as a substitute for financial statements prepared in accordance with U.S. GAAP. The Company’s independent registered public accounting firm has not conducted a review of, and does not express an opinion or any other form of assurance with respect to, these estimated preliminary results. It is possible that the Company or its independent registered public accounting firm may identify items that would require the Company to make adjustments to the preliminary estimates set forth above as the Company completes its financial statements and that the Company’s actual results may differ materially from these preliminary estimates. Accordingly, undue reliance should not be placed on these preliminary estimates. Except for the statements relating to the full fiscal year 2022 revenue guidance, these preliminary estimates are not necessarily indicative of any future period and should be read together to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC, available at www.sec.gov, and on the SEDAR, available at www.sedar.com.

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