WTTRMEDIUM SIGNALFINANCIAL10-K

WTTR shows declining profitability with operating income falling meaningfully while substantially increasing capital investments and experiencing notable accounts receivable growth.

The company appears to be in an investment phase with capital expenditures growing substantially, but this expansion is coming at the cost of near-term profitability as operating margins compressed significantly. The sharp increase in accounts receivable relative to the business growth suggests either expanding customer payment terms or potential collection challenges that warrant monitoring.

Comparing 2026-02-18 vs 2025-02-19View on EDGAR →
FINANCIAL ANALYSIS

WTTR's financial profile reflects a company investing heavily for growth while facing profitability headwinds. Capital expenditures grew substantially to $294.6M, accounts receivable increased notably, and total assets expanded to $1.6B, but operating income declined meaningfully to $28.8M and net income dropped to $21.2M. The combination of higher interest expense and increased liabilities alongside the margin compression suggests the company is funding expansion through debt while experiencing operational challenges in converting revenue growth to bottom-line results.

FINANCIAL STATEMENT CHANGES
Accounts Receivable
Balance Sheet
+84.7%
$232.8M→$430.0M

Receivables surged 84.7% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Capital Expenditure
Cash Flow
+70.1%
$173.2M→$294.6M

Capital expenditure jumped 70.1% — major investment cycle underway; assess returns on deployment.

Interest Expense
P&L
+62.7%
$2.7M→$4.4M

Interest expense surged 62.7% — significant debt increase or rising rates materially impacting earnings.

Total Liabilities
Balance Sheet
+48.3%
$450.7M→$668.5M

Liabilities grew 48.3% — significant increase in debt or obligations, assess impact on financial flexibility.

Operating Income
P&L
-47.1%
$54.5M→$28.8M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Net Income
P&L
-30.7%
$30.6M→$21.2M

Net income declined 30.7% — review whether driven by operations, interest costs, or non-recurring items.

Total Assets
Balance Sheet
+16.8%
$1.4B→$1.6B

Asset base grew 16.8% — expansion through organic growth, acquisitions, or capital deployment.

Dividends Paid
Cash Flow
+13.1%
$29.7M→$33.7M

Dividend payments increased 13.1% — management confidence in sustained cash generation.

Inventory
Balance Sheet
-10.8%
$38.4M→$34.3M

Inventory reduced 10.8% — lean inventory management or demand outpacing supply.

LANGUAGE CHANGES
NEW — 2026-02-18
PRIOR — 2025-02-19
ADDED
There were 105,140,543 and 16,221,101 shares of the registrant s Class A and Class B common stock, respectively, outstanding as of February 16, 2026.
Comprehensive Environmental Response, Compensation and Liability Act CFO .
Committee of Sponsoring Organizations of the Treadway Commission CTO .
Earnings before Interest, Taxes, Depreciation and Amortization EPA .
National Institute of Standards and Technology Cyber Security Framework NOL .
+7 more — sign up free →
REMOVED
There were 103,066,880 and 16,221,101 shares of the registrant s Class A and Class B common stock, respectively, outstanding as of February 17, 2025.
or elsewhere, such as the Russia-Ukraine war, the instability and hostilities in the Middle East, including heightened tensions with Iran; information technology failures or cyberattacks; accidents, weather, natural disasters or other events affecting our business; and the other risks identified in this Annual Report on Form 10-K, including, without limitation, those under the headings Item 1A.
Political instability or armed conflict in crude oil or natural gas producing regions and OPEC+ policy decisions.
Risks Related to Compliance with Regulations Legislative and regulatory initiatives in the U.S.
In certain cases, payments under the Tax Receivable Agreements may be accelerated and/or significantly exceed the actual benefits.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
CRMHIGHSalesforce significantly increased debt by 71% to $14.4B while simultaneously ac...
2026-03-02
UNHHIGHUNH's operating income plummeted 41% despite 12% revenue growth, indicating seve...
2026-03-02
PFEHIGHPfizer achieved a dramatic 87.3% reduction in total debt from $31.4B to $4.0B, r...
2026-02-26
GILDHIGHGILD dramatically increased R&D spending by 81.5% to $9.1B while introducing new...
2026-02-24
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →