Global Water Resources Inc 2024年度报告

(Mark One) For the fiscal year endedDecember 31, 2024OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________Commission File Number:001-37756 Global Water Resources, Inc. (Exact Name of Registrant as Specified in its Charter) Registrant’s telephone number, including area code: (480)360-7775Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange on Which Registered The NASDAQ Stock Market, LLC Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐Yes xNoIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.☐Yes xNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.xYes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).xYes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Accelerated filer☐Non-accelerated filerxSmallerreportingcompanyxEmerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes xNo The aggregate market value of the common stock held by non-affiliates of the registrant as of the last business day of the registrant’s most recently completed secondfiscal quarter (June 28, 2024) was $138.8million based upon the closing sale price of the registrant’s common stock as reported on the NASDAQ Global Market. As ofMarch3, 2025, the registrant had24,226,016shares of common stock, $0.01 par value per share, outstanding. DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III of this report, to the extent not set forth herein, is incorporated herein by reference to the registrant’s definitive proxy statementrelating to the 2025 annual meeting of stockholders to be filed with the Securities and Exchange Commission not later than 120 days after the end of the registrant’sfiscal year ended December 31, 2024. TABLE OF CONTENTS PART I ITEM 1.BusinessITEM 1A.Risk FactorsITEM 1B.Unresolved Staff CommentsITEM 1C.CybersecurityITEM 2.PropertiesITEM 3.Legal ProceedingsITEM 4.Mine Safety Disclosures PART II38ITEM 5.Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of EquitySecurities38ITEM 6.Reserved38ITEM 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations39ITEM 7A.Qualitative and Quantitative Disclosures About Market Risk50ITEM 8.Financial Statements and Supplementary Data51ITEM 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure85ITEM 9A.Controls and Procedures85ITEM 9B.Other Information85ITEM 9C.Disclosures Regarding Foreign Jurisdictions That Prevent Inspections85 PART III ITEM 10.Directors, Executive Officers and Corporate Governance86ITEM 11.Executive Compensation86ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters86ITEM 13.Certain Relationships and Related Tran