Air Water Ventures Limited (WATR) Cash Flow Statement
Where WATR’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$18.1M
- Capital expenditures
- $758,209 55.5% of revenue
- Free cash flow
- −$18.9M −1,379.6% margin
- Returned to shareholders
- $3.8M
- Change in cash
- $16.5M cash at year-end $16.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
WATR operating cash flow, capex and free cash flow
WATR cash flow trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$2.9M2023 | −$18.1M2025 | — | |
| Capital expenditures | $212,9672023 | $758,2092025 | +88.7%/yr | |
| Free cash flow | −$3.1M2023 | −$18.9M2025 | — | |
| Free cash flow margin | −1,388.7%2023 | −1,379.6%2025 | +9.1 pts | |
| Share buybacks (net) | $02023 | $3.8M2025 | — | |
| Capex / revenue | 94.9%2023 | 55.5%2025 | −39.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WATR cash flow by activity
WATR net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
WATR cash flow statement
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Operating activities | |||
| Net income | −$27.5M | −$11.0M | −$6.6M |
| Depreciation & amortization | $2.5M | $564,592 | $161,811 |
| Change in working capital | $822,342 | −$4.0M | $2.9M |
| Other non-cash items | $6.2M | $1.3M | $564,749 |
| Cash from operating activities | −$18.1M | −$13.1M | −$2.9M |
| Investing activities | |||
| Capital expenditures | −$758,209 | −$3.3M | −$212,967 |
| Financing activities | |||
| Share repurchases & issuance (net) | −$3.8M | −$10.0M | $0 |
| Net borrowing (repayment) | $7.9M | $10.8M | $747,628 |
| Shares issued | $0 | $15.0M | $1.4M |
| Other financing | $31.3M | $267,957 | $1.2M |
| Cash from financing activities | $35.4M | $16.2M | $3.4M |
| Summary | |||
| Net change in cash | $16.5M | −$232,936 | $276,543 |
| Cash at end of period | $16.6M | $77,696 | $310,632 |
| Free cash flow | −$18.9M | −$16.4M | −$3.1M |
| Free cash flow margin | −1,379.6% | −3,159.0% | −1,388.7% |
| Capex / revenue | 55.5% | 638.4% | 94.9% |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
WATR cash generation
In fiscal 2025 (ended December 31, 2025), Air Water Ventures generated -$18.1 million of cash from operations and spent $0.8 million on capital expenditures, leaving free cash flow of -$18.9 million, −1,379.6% of revenue. It returned $3.8 million to shareholders through dividends ($0) and net share buybacks ($3.8 million). Cash and equivalents rose by $16.5 million over the year.
Related: WATR income statement, WATR balance sheet. See the WATR stock overview for the latest quote and news.
WATR cash flow FAQ
What is Air Water Ventures's free cash flow?
Air Water Ventures's free cash flow was -$18.9 million in fiscal 2025: -$18.1 million of operating cash flow minus $0.8 million of capital expenditures It was -$16.4 million a year earlier..
How much cash does Air Water Ventures generate from operations?
Air Water Ventures generated -$18.1 million of cash from operating activities in fiscal 2025.
How much does Air Water Ventures spend on capital expenditures?
Air Water Ventures spent $0.8 million on capital expenditures in fiscal 2025, 55.5% of revenue, compared with $3.3 million the year before.
How much stock does Air Water Ventures buy back?
Air Water Ventures spent $3.8 million on net share repurchases in fiscal 2025.