Water Intelligence reported a 9% uptick in first-quarter revenue to $23.2m, more than doubling the prior year’s growth rate, with the leak detection specialist saying April had reinforced the momentum and reaffirming full-year guidance.
The company helps identify leaks in ageing water infrastructure and install new water delivery systems.
International business was the key driver, with corporate locations up 38% to $4.3m on the back of strong trading in Ireland and from franchise-related activities, up 14% to $2.6m, as the B2B channel covering insurance and property management climbed 16%.
US corporate locations grew a more modest 3% to $14.7m, with January trading held back by adverse weather. Franchise royalties dipped 2% to $1.58m, reflecting recent reacquisitions.
Adjusted EBITDA rose 8% to $4.4m, holding margins steady at 19%.
The group’s American Leak Detection arm has rolled out paid B2B pilots for both StreamLabs and Bluebot wireless monitoring devices, as part of its push into preventive maintenance with integrated “Five Star” service-level agreements. A strategic partnership with Bluebot was also announced after the quarter end, alongside the appointment of Michael Moulton as Group CFO.
Looking ahead, management says April growth has carried Q1’s pace into the second quarter, with the B2B channel in particular continuing to build, and the group keeping the door open on opportunistic acquisitions and further share buybacks.
Dr. Patrick DeSouza Executive Chairman, commented: “We are pleased with our team’s operating progress in integrating leading wireless monitoring products with our market-leading minimally-invasive leak detection and repair services offerings. We are now able to offer first-class solutions and provide a great user experience for our water infrastructure customers, especially insurance companies and property management. We see strong market demand for such integrated offerings.
“Q1 2026 financial results were much stronger than in Q1 2025. April reinforced this momentum. We anticipate continued growth momentum for our technology-enabled solutions platform as customers look to preventive maintenance to reduce the cost of water and the cost of damage from water leaks.”
Shares trade at around 13x earnings, which could fall further if Q1 earnings growth continues through the year. After a recent decline, today’s update may be what Water Intelligence shares need to build a base and recover lost ground.