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Business Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
As of June 30, 2026, the Company is organized and operated as one operating and reportable segment, as the Company is not organized around specific products and services, geographic regions, or regulatory environments. Further, the Company currently operates solely within the state of Arizona. Operating revenue is substantially derived from regulated water, wastewater, and recycled water service provided to customers based upon tariff rates approved by the ACC. Refer to Note 4 — “Revenue Recognition” for additional information on the Company’s sources of revenue, and refer to the Condensed Consolidated Financial Statements (unaudited) for measures of profit and loss, total assets, and capital expenditures of the Company.
The Company’s CODM is the Chief Executive Officer. While the Company reports revenue disaggregated by service type on the face of its Condensed Consolidated Financial Statements (unaudited), the Company does not manage the business based on any performance measure at the individual revenue stream level. The CODM uses consolidated financial information, as outlined below, to evaluate performance against budget and peers and to make all significant decisions regarding the allocation of the Company’s resources, and communicate results and performance to the Company’s board of directors.
The CODM regularly reviews the results of the Company based on GAAP net income as well as non-GAAP measures, EBITDA and Adjusted EBITDA. The CODM uses GAAP net income in the assessment of performance and to make strategic decisions regarding resource allocation predominantly in the annual budget.
The CODM reviews the following significant expense categories:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Segment Revenue$17,767 $14,241 $31,053 $26,698 
Segment Expenses
Personnel costs - operations and maintenance1,538 1,356 3,021 2,696 
Utilities, chemicals and repairs1,388 1,183 2,560 2,215 
Other operations and maintenance expenses1,629 1,378 3,158 2,693 
Personnel costs - general and administrative2,054 2,236 4,411 4,431 
Professional fees355 441 744 908 
Other general and administrative expenses1,896 1,710 3,602 3,235 
Depreciation, amortization and accretion4,401 3,317 8,662 6,645 
Other Income (Expense)
Buckeye growth premiums597 615 1,095 1,233 
Other segment income and expenses(1,379)(1,006)(2,737)(2,105)
Income tax expense(977)(617)(872)(800)
Net Income$2,747 $1,612 $2,381 $2,203 
Other operations and maintenance and other general and administrative expenses include contract services, business development, board compensation, rent, insurance and taxes other than income taxes. Other segment income expenses include interest income, interest expense, AFUDC, and gains and losses on disposal of assets.