Artesian Resources Corp
artesianwater.comWhat Do They Do?
Distributes and sells water to households, businesses and public agencies, and provides wastewater services and water and wastewater operations across the Delmarva Peninsula.
10-K for FY2025, filed Mar 16, 2026Artesian Water, our principal subsidiary, distributes and sells water to residential, commercial, industrial, governmental, municipal and…View ↗
Artesian Wastewater began providing wastewater services in Sussex County, Delaware in July 2005. Artesian Wastewater is a regulated entity…View ↗
Artesian Utility was formed in 1996 and designs and builds water and wastewater infrastructure and provides contract water and wastewater…View ↗
How Do They Make Money?
Water customers pay approved rates for measured use, usually billed monthly or quarterly; fixed service fees are billed monthly, quarterly or semi-annually. Other revenue comes from wastewater flow charges, flat monthly or quarterly protection-plan fees, contract operations, and design and installation services.
10-K for FY2025, filed Mar 16, 2026Artesian’s operating revenues are primarily derived from contract services based upon regulated tariff rates approved by the DEPSC, the…View ↗
Artesian generates revenue from the sale of water to customers in Delaware, Cecil County, Maryland, and Southern Chester County…View ↗
Artesian generates revenue from industrial wastewater services provided to a customer in Sussex County, Delaware. We recognize industrial…View ↗
Artesian generates fixed-fee revenue for water and wastewater services provided to customers once a customer requests service in our…View ↗
Artesian Utility provides contract water and wastewater operation services to private, municipal, and governmental institutions. Artesian…View ↗
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10-K for FY2025, filed Mar 16, 2026
FY2025 revenue by product or service ↗
$112.9M
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10-K for FY2025, filed Mar 16, 2026
$112.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Water Sales
Usage-based
10-K for FY2025, filed Mar 16, 2026 |
80%
FY2022: 79%
|
Water Sales, FY2025
$90.9M Sources
|
Usage-based |
|
Other Utility Operating Revenue
|
13%
FY2022: 12%
|
Other Utility Operating Revenue, FY2025
$14.6M Sources
|
|
|
Non-Utility Operating Revenue
|
6.6%
FY2022: 9.2%
|
Non-Utility Operating Revenue, FY2025
$7.4M Sources
|
Who Are Their Customers?
Utility customers request service directly within Artesian's territories; it also serves private, municipal and government institutions through contract operations and infrastructure work.
10-K for FY2025, filed Mar 16, 2026
Do Revenues Turn Into Profits?
Yes. It kept 20 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$18.5M.
10-K for FY2025, filed Mar 16, 2026
$27.8MView ↗
10-K for FY2025, filed Mar 16, 2026
$22.8MView ↗
10-K for FY2025, filed Mar 16, 2026
−$18.5MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 12, 2026
Open tableView ↗
Growing. Revenue grew 24% in 4 years, from $90.9M in FY2021 to $112.9M in FY2025, about 6% a year.
Wastewater customer base
The older report described process-wastewater disposal for an industrial customer; the latest adds a treatment facility serving residential and small commercial customers.
10-K for FY2022, filed Mar 10, 2023 10-K for FY2025, filed Mar 16, 2026Artesian Wastewater owns and operates four wastewater treatment facilities, which, combined, are permitted to treat and/or dispose of…View ↗
Artesian Wastewater owns and operates four wastewater treatment facilities, which, combined, are permitted to treat and/or dispose of…View ↗
Internal protection plan
The older report offered the internal service-line plan to customers; the latest says it stopped enrolling new customers in that plan.
10-K for FY2022, filed Mar 10, 2023 10-K for FY2025, filed Mar 16, 2026Artesian Utility also offers three protection plans to customers, the Water Service Line Protection Plan, or WSLP Plan, the Sewer Service…View ↗
Artesian Utility also offers protection plans to customers, the Water Service Line Protection Plan, or WSLP Plan, the Sewer Service Line…View ↗
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