Consolidated Water (CWCO) 10-Q14 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 11, 2024
Document and Entity Information
Document Type	10-Q
Document Period End Date	Sep. 30, 2024
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-25248
Entity Registrant Name	CONSOLIDATED WATER CO. LTD.
Entity Incorporation, State or Country Code	KY
Entity Tax Identification Number	98-0619652
Entity Address, Address Line One	Windward Three, 4th Floor, West Bay Road
Entity Address, Address Line Two	P.O. Box 1114
Entity Address, City or Town	Grand Cayman
Entity Address, Postal Zip Code	KY1-1102
Entity Address, Country	KY
City Area Code	345
Local Phone Number	945-4277
Title of 12(b) Security	Class A Common Stock
Security Exchange Name	NASDAQ
Trading Symbol	CWCO
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,834,897
Entity Central Index Key	0000928340
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 104,869,627	$ 42,621,898
Accounts receivable, net	37,199,621	38,226,891
Inventory	3,928,851	6,044,642
Prepaid expenses and other current assets	5,675,517	4,056,370
Contract assets	1,958,361	21,553,057
Current assets of discontinued operations	314,847	211,517
Total current assets	153,946,824	112,714,375
Property, plant and equipment, net	53,203,218	55,882,521
Construction in progress	2,799,135	495,471
Inventory, noncurrent	5,180,540	5,045,771
Investment in OC-BVI	1,384,891	1,412,158
Goodwill	12,861,404	12,861,404
Intangible assets, net	2,860,907	3,353,185
Operating lease right-of-use assets	3,328,936	2,135,446
Other assets	2,801,873	3,407,973
Long-term assets of discontinued operations	0	21,129,288
Total assets	238,367,728	218,437,592
Current liabilities
Accounts payable, accrued expenses and other current liabilities	7,108,726	11,604,369
Accrued compensation	3,747,516	3,160,030
Dividends payable	1,803,926	1,572,655
Current maturities of operating leases	633,971	456,865
Current portion of long-term debt	151,276	192,034
Contract liabilities	6,018,720	6,237,011
Deferred revenue	170,551	317,017
Current liabilities of discontinued operations	451,839	364,665
Total current liabilities	20,086,525	23,904,646
Long-term debt, noncurrent	91,561	191,190
Deferred tax liabilities	227,253	530,780
Noncurrent operating leases	2,784,742	1,827,302
Other liabilities	153,000	153,000
Deferred revenue, noncurrent	38,424	0
Total liabilities	23,381,505	26,606,918
Commitments and contingencies
Consolidated Water Co. Ltd. stockholders' equity
Redeemable preferred stock, $0.60 par value. Authorized 200,000 shares; issued and outstanding 44,650 and 44,297 shares, respectively	26,790	26,578
Additional paid-in capital	93,074,517	92,188,887
Retained earnings	107,164,155	85,148,820
Total Consolidated Water Co. Ltd. stockholders' equity	209,766,137	186,827,212
Non-controlling interests	5,220,086	5,003,462
Total equity	214,986,223	191,830,674
Total liabilities and equity	238,367,728	218,437,592
Common Class A [Member]
Consolidated Water Co. Ltd. stockholders' equity
Common stock value	9,500,675	9,462,927
Common Class B [Member]
Consolidated Water Co. Ltd. stockholders' equity
Common stock value	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Redeemable preferred stock, par value (in dollars per share)	$ 0.60	$ 0.60
Redeemable preferred stock, authorized	200,000	200,000
Redeemable preferred stock, issued	44,650	44,297
Redeemable preferred stock, outstanding	44,650	44,297
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.60	$ 0.60
Common stock, authorized	24,655,000	24,655,000
Common stock, issued	15,834,459	15,771,545
Common stock, outstanding	15,834,459	15,771,545
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.60	$ 0.60
Common stock, authorized	145,000	145,000
Common stock, issued	0	0

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONSOLIDATED STATEMENTS OF INCOME
Revenue	$ 33,390,557	$ 49,854,075	$ 105,559,105	$ 126,960,328
Cost of revenue	21,755,899	33,239,647	68,426,210	84,323,269
Gross profit	11,634,658	16,614,428	37,132,895	42,637,059
General and administrative expenses	6,955,969	5,872,490	20,126,292	17,894,067
Gain (loss) on asset dispositions and impairments, net	201,582		198,452	6,916
Income (loss) from operations	4,880,271	10,741,938	17,205,055	24,749,908
Other income (expense):
Interest income	626,801	196,567	1,341,797	396,348
Interest expense	(32,801)	(34,020)	(99,740)	(108,111)
Profit-sharing income from OC-BVI	20,250	12,150	52,650	38,475
Equity in the earnings of OC-BVI	53,370	37,182	147,333	108,012
Other	56,420	24,187	118,610	87,532
Other income, net	724,040	236,066	1,560,650	522,256
Income before income taxes	5,604,311	10,978,004	18,765,705	25,272,164
Provision for income taxes	490,209	1,976,453	2,175,838	4,366,005
Net income from continuing operations	5,114,102	9,001,551	16,589,867	20,906,159
Income from continuing operations attributable to non-controlling interests	156,784	163,428	448,724	463,775
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders	4,957,318	8,838,123	16,141,143	20,442,384
Net loss from discontinued operations	(502,854)	(232,994)	10,637,926	(699,858)
Net income attributable to Consolidated Water Co. Ltd. stockholders	$ 4,454,464	$ 8,605,129	$ 26,779,069	$ 19,742,526
Basic earnings (loss) per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	$ 0.31	$ 0.56	$ 1.02	$ 1.30
Discontinued operations	(0.03)	(0.01)	0.67	(0.05)
Basic earnings per share	0.28	0.55	1.69	1.25
Diluted earnings (loss) per common share attributable to Consolidated Water Co. Ltd. common stockholders
Continuing operations	0.31	0.55	1.01	1.28
Discontinued operations	(0.03)	(0.01)	0.67	(0.04)
Diluted earnings per share	0.28	0.54	1.68	1.24
Dividends declared per common and redeemable preferred shares	$ 0.11	$ 0.095	$ 0.30	$ 0.265
Weighted average number of common shares used in the determination of:
Basic earnings per share	15,833,715	15,742,854	15,830,599	15,734,234
Diluted earnings per share	15,989,601	15,928,604	15,986,019	15,909,725

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Redeemable preferred stock [Member] Preferred stock [Member]	Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Non controlling interests [Member]	Total
Balance at Dec. 31, 2022	$ 20,630	$ 9,193,725	$ 89,205,159	$ 61,247,699	$ 8,096,976	$ 167,764,189
Balance (in shares) at Dec. 31, 2022	34,383	15,322,875
Issuance of share capital		$ 26,870	(26,870)
Issuance of share capital (in shares)		44,783
Purchase of Remaining Non-Controlling Interests in PERC		$ 221,030	1,006,248		(3,667,305)	(2,440,027)
Purchase of remaining non-controlling interests in PERC (in shares)		368,383
Net income				3,813,626	163,121	3,976,747
Dividends declared				(1,342,015)		(1,342,015)
Compensation expense relating to stock and stock option grants			463,893			463,893
Balance at Mar. 31, 2023	$ 20,630	$ 9,441,625	90,648,430	63,719,310	4,592,792	168,422,787
Balance (in shares) at Mar. 31, 2023	34,383	15,736,041
Balance at Dec. 31, 2022	$ 20,630	$ 9,193,725	89,205,159	61,247,699	8,096,976	167,764,189
Balance (in shares) at Dec. 31, 2022	34,383	15,322,875
Net income						20,206,301
Balance at Sep. 30, 2023	$ 27,125	$ 9,447,931	91,716,763	76,807,700	4,893,446	182,892,965
Balance (in shares) at Sep. 30, 2023	45,209	15,746,552
Balance at Mar. 31, 2023	$ 20,630	$ 9,441,625	90,648,430	63,719,310	4,592,792	168,422,787
Balance (in shares) at Mar. 31, 2023	34,383	15,736,041
Issuance of share capital	$ 7,985		(7,985)
Issuance of share capital (in shares)	13,309
Buyback of preferred stock	$ (122)		(1,708)			(1,830)
Buyback of preferred stock (in shares)	(203)
Net income				7,323,771	137,226	7,460,997
Exercise of options	$ 360		6,891			7,251
Exercise of options (in shares)	599
Dividends declared				(1,340,972)		(1,340,972)
Compensation expense relating to stock and stock option grants			461,695			461,695
Balance at Jun. 30, 2023	$ 28,853	$ 9,441,625	91,107,323	69,702,109	4,730,018	175,009,928
Balance (in shares) at Jun. 30, 2023	48,088	15,736,041
Conversion of preferred stock	$ (4,762)	$ 4,762
Conversion of preferred stock (in shares)	(7,936)	7,936
Net income				8,605,129	163,428	8,768,557
Exercise of options	$ 3,034	$ 1,544	87,935			92,513
Exercise of options (in shares)	5,057	2,575
Dividends declared				(1,499,538)		(1,499,538)
Compensation expense relating to stock and stock option grants			521,505			521,505
Balance at Sep. 30, 2023	$ 27,125	$ 9,447,931	91,716,763	76,807,700	4,893,446	182,892,965
Balance (in shares) at Sep. 30, 2023	45,209	15,746,552
Balance at Dec. 31, 2023	$ 26,578	$ 9,462,927	92,188,887	85,148,820	5,003,462	191,830,674
Balance (in shares) at Dec. 31, 2023	44,297	15,771,545
Issuance of share capital		$ 34,430	(34,430)
Issuance of share capital (in shares)		57,384
Buyback of preferred stock	$ (163)		(2,727)			(2,890)
Buyback of preferred stock (in shares)	(272)
Net income				6,474,348	169,068	6,643,416
Dividends declared				(1,510,082)		(1,510,082)
Compensation expense relating to stock and stock option grants			279,875			279,875
Balance at Mar. 31, 2024	$ 26,415	$ 9,497,357	92,431,605	90,113,086	5,172,530	197,240,993
Balance (in shares) at Mar. 31, 2024	44,025	15,828,929
Balance at Dec. 31, 2023	$ 26,578	$ 9,462,927	92,188,887	85,148,820	5,003,462	191,830,674
Balance (in shares) at Dec. 31, 2023	44,297	15,771,545
Net income						27,227,793
Balance at Sep. 30, 2024	$ 26,790	$ 9,500,675	93,074,517	107,164,155	5,220,086	214,986,223
Balance (in shares) at Sep. 30, 2024	44,650	15,834,459
Balance at Mar. 31, 2024	$ 26,415	$ 9,497,357	92,431,605	90,113,086	5,172,530	197,240,993
Balance (in shares) at Mar. 31, 2024	44,025	15,828,929
Issuance of share capital	$ 3,542		(3,542)
Issuance of share capital (in shares)	5,904
Conversion of preferred stock	$ (386)	$ 386
Conversion of preferred stock (in shares)	(643)	643
Buyback of preferred stock	$ (137)		(2,144)			(2,281)
Buyback of preferred stock (in shares)	(229)
Net income				15,850,257	122,872	15,973,129
Dividends declared				(1,507,710)		(1,507,710)
Compensation expense relating to stock and stock option grants			297,368			297,368
Balance at Jun. 30, 2024	$ 29,434	$ 9,497,743	92,723,287	104,455,633	5,295,402	212,001,499
Balance (in shares) at Jun. 30, 2024	49,057	15,829,572
Conversion of preferred stock	$ (2,932)	$ 2,932
Conversion of preferred stock (in shares)	(4,887)	4,887
Buyback of preferred stock	$ (338)		(5,306)			(5,644)
Buyback of preferred stock (in shares)	(563)
Net income				4,454,464	156,784	4,611,248
Exercise of options	$ 626		23,127			23,753
Exercise of options (in shares)	1,043
Dividends declared				(1,745,942)	(232,100)	(1,978,042)
Compensation expense relating to stock and stock option grants			333,409			333,409
Balance at Sep. 30, 2024	$ 26,790	$ 9,500,675	$ 93,074,517	$ 107,164,155	$ 5,220,086	$ 214,986,223
Balance (in shares) at Sep. 30, 2024	44,650	15,834,459

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income attributable to Consolidated Water Co. Ltd. stockholders	$ 26,779,069	$ 19,742,526
Income from Continuing Operations Attributable to Non-Controlling Interests	448,724	463,775
Net income	27,227,793	20,206,301
Adjustments to reconcile net income to net cash provided by operating activities
Gain on sale of land and project documentation	(12,134,766)
Foreign currency transaction adjustment - discontinued operations	60,915	(966)
Loss from discontinued operations	1,435,925	700,824
Depreciation and amortization	5,020,410	4,862,781
Deferred income tax benefit	(303,527)	(94,021)
Provision for credit losses	390,108	9,215
Compensation expense relating to stock and stock option grants	910,652	1,447,093
Loss (gain) on asset dispositions and impairments, net	(198,452)	(6,916)
Profit-sharing and equity in earnings of OC-BVI	(199,983)	(146,487)
Distribution of earnings from OC-BVI	227,250	303,000
Accounts receivable	637,162	(11,080,886)
Contract assets	19,594,696	(6,059,018)
Inventory	1,529,545	(2,671,769)
Prepaid expenses and other assets	(1,269,737)	(1,978,213)
Accounts payable (including related parties), accrued expenses and other current liabilities	(3,908,157)	2,957,670
Contract liabilities	(218,291)	724,828
Operating lease liabilities	(3,905)	(3,905)
Deferred revenue	(108,042)	75,733
Net cash provided by operating activities - continuing operations	38,689,596	9,245,264
Net cash used in operating activities - discontinued operations	(1,432,041)	(849,639)
Net cash provided by operating activities	37,257,555	8,395,625
Cash flows from investing activities
Additions to property, plant and equipment and construction in progress	(3,747,250)	(4,123,770)
Proceeds from asset dispositions	446,337	21,410
Proceeds from Mexican settlement agreement	33,261,664
Purchase of non-controlling interest in PERC		(2,440,027)
Net provided by in investing activities	29,960,751	(6,542,387)
Cash flows from financing activities
Dividends paid to common shareholders	(4,519,412)	(3,977,676)
Dividends paid to preferred shareholders	(13,051)	(9,933)
Dividends paid to non-controlling interests	(232,100)
Buyback of redeemable preferred stock	(10,815)	(1,830)
Proceeds received from exercise of stock options	23,753	99,764
Principal repayments on long-term debt	(140,387)	(82,347)
Net cash used in financing activities	(4,892,012)	(3,972,022)
Net increase (decrease) in cash and cash equivalents	62,326,294	(2,118,784)
Cash and cash equivalents at beginning of period	42,621,898	50,711,751
Cash and cash equivalents at beginning of period - discontinued operations	91,283	442,252
Less: cash and cash equivalents at end of period - discontinued operations	(169,848)	(189,613)
Cash and cash equivalents at end of period	104,869,627	48,845,606
Non-cash transactions:
Issuance of 5,904 and 13,309, respectively, shares of redeemable preferred stock for services rendered	148,485	287,922
Issuance of 57,384 and 44,783, respectively, shares of common stock for services rendered	730,524	621,811
Dividends declared but not paid	1,746,702	1,500,218
Issuance of 0 and 368,383, respectively, shares of common stock for the purchase of non-controlling interest in PERC		5,359,973
Conversion (on a one-to-one basis) of 5,530 and 7,936, respectively, shares of redeemable preferred stock to common stock	3,318	4,762
Transfers from inventory to property, plant and equipment and construction in progress	451,477	224,952
Transfers from construction in progress to property, plant and equipment	875,580	525,673
Right-of-use assets obtained in exchange for new operating lease liabilities	1,604,702	249,145
Transfers from prepaids to property, plant and equipment	$ 67,136	255,379
Transfers from prepaids to inventory		$ 238,032

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Issuance of common stock for services rendered	57,384	44,783
Issuance of 0 and 368,383, respectively, shares of common stock for the purchase of non-controlling interest in PERC	0	368,383
Conversion (on a one-to-one basis) of 8,848 and 6,585, respectively, shares of redeemable preferred stock to common stock	5,530	7,936
Redeemable preferred stock [Member]
Issuance of common stock for services rendered	5,904	13,309

Principal activity

Principal activity	9 Months Ended
Principal activity	Sep. 30, 2024
Principal activity
Principal activity	CONSOLIDATED WATER CO. LTD. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. Principal activity Consolidated Water Co. Ltd. and its subsidiaries (collectively, the “Company”) supply potable water, treat wastewater and water for reuse, and provide water-related products and services to customers in the Cayman Islands, The Bahamas, the United States and the British Virgin Islands. The Company produces potable water from seawater using reverse osmosis technology and sells this water to a variety of customers, including public utilities, commercial and tourist properties, residential properties and government facilities. The Company designs, constructs and sells water production and water treatment infrastructure and manages water infrastructure for commercial and governmental customers. The Company also manufactures a wide range of specialized and custom water industry related products and provides design, engineering, operating and other services applicable to commercial, municipal and industrial water production, supply and treatment.

Accounting policies

Accounting policies	9 Months Ended
Accounting policies	Sep. 30, 2024
Accounting policies
Accounting policies	2. Accounting policies Basis of consolidation: In 2019 and 2020, CW-Holdings acquired 61% of PERC. In January 2023, CW-Holdings purchased the remaining 39% ownership interest in PERC for $2.4 million in cash, and 368,383 shares of the Company’s common stock having a value of approximately $5.36 million based upon the opening trading price of the Company’s common stock on The Nasdaq Global Market on the date of the transaction. In September 2021, Kalaeloa Desalco was formed to pursue a project in Oahu, Hawaii. On June 2, 2023, Kalaeloa Desalco signed a definitive agreement with the Honolulu Board of Water Supply to design, construct, operate and maintain a 1.7 million gallons per day seawater reverse osmosis desalination plant in Oahu, Hawaii. Effective October 1, 2023, the Company purchased, through its wholly-owned subsidiary PERC, a 100% ownership interest in REC, a Colorado company that operates and maintains water and wastewater treatment facilities and provides technical services to clients throughout the Rocky Mountain and Eastern Plains Regions of Colorado. PERC acquired REC for approximately $4.1 million and recorded goodwill and intangible assets from this acquisition of $2,436,391 and $1,108,390 respectively. The accompanying interim condensed consolidated financial statements are unaudited. These condensed consolidated financial statements reflect all adjustments (which are of a normal recurring nature) that, in the opinion of management, are necessary to fairly present the Company’s consolidated financial position, results of operations and cash flows as of and for the periods presented. The consolidated results of operations for these interim periods are not necessarily indicative of the operating results for future periods, including the fiscal year ending December 31, 2024. These condensed consolidated financial statements and notes are presented in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) relating to interim financial statements and in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted in these condensed consolidated financial statements pursuant to SEC rules and regulations, although the Company believes that the disclosures made herein are adequate to make the information not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Foreign currency: Net foreign currency gains arising from transactions and re-measurements were $24,807 and $22,077 for the three months ended September 30, 2024 and 2023, respectively, and $65,606 and $72,253 for the nine months ended September 30, 2024 and 2023, and are included in “Other income (expense) - Other” in the accompanying condensed consolidated statements of income. Cash and cash equivalents: Certain transfers from the Company’s Bahamas bank accounts to Company bank accounts in other countries require the approval of the Central Bank of The Bahamas. The equivalent United States dollar cash balances held in The Bahamas as of September 30, 2024 and December 31, 2023 were approximately $11.4 million and $3.0 million, respectively. Goodwill and intangible assets: For the year ended December 31, 2023, the Company elected to assess qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment testing that was conducted in prior years for its reporting units. The Company assessed the relevant events and circumstances to evaluate whether it is more likely than not that the fair values of such reporting units were less than their carrying values. The events and circumstances assessed for each reporting unit included macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, and other relevant events. Based upon this qualitative assessment, the Company determined that it is more likely than not that the fair values of its reporting units exceeded their carrying values as of December 31, 2023. Income taxes: The Company is not presently subject to income taxes in the other countries in which it operates. Revenue recognition: The following table presents the Company’s revenue disaggregated by revenue source. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Retail revenue $ 7,585,992 $ 7,216,574 $ 24,392,814 $ 22,560,998 Bulk revenue 8,767,168 8,488,615 25,557,220 25,975,483 Services revenue 12,677,837 29,427,664 42,017,917 66,243,328 Manufacturing revenue 4,359,560 4,721,222 13,591,154 12,180,519 Total revenue $ 33,390,557 $ 49,854,075 $ 105,559,105 $ 126,960,328 Services revenue consists of the following: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Construction revenue $ 3,637,038 $ 24,204,446 $ 16,165,312 $ 52,563,822 Operations and maintenance revenue 7,492,121 5,021,081 21,660,396 12,750,902 Design and consulting revenue 1,548,678 202,137 4,192,209 928,604 Total services revenue $ 12,677,837 $ 29,427,664 $ 42,017,917 $ 66,243,328 Retail revenue The Company produces and supplies water to end-users, including residential, commercial and governmental customers in the Cayman Islands under an exclusive retail license issued to Cayman Water by the Cayman Islands government to provide water in two of the three most populated areas on Grand Cayman. Customers are billed on a monthly basis based on metered consumption and bills are typically collected within 30 to 45 days after the billing date. Receivables not collected within 45 days subject the customer to disconnection from water service. The Company recognizes revenue from retail water sales at the time water is supplied to the customer’s premises. The amount of water supplied is determined and invoiced based upon water meter readings performed at the end of each month. All retail water contracts are month-to-month contracts. The Company has elected the “right to invoice” practical expedient for revenue recognition on its retail water sale contracts and recognizes revenue in the amount to which the Company has a right to invoice, recognizing this revenue from the transfer of goods or services to customers at a point in time. Bulk revenue The Company produces and supplies water to government-owned utilities in the Cayman Islands and The Bahamas. OC-Cayman provides bulk water to the Water Authority-Cayman (“WAC”), a government-owned utility and regulatory agency, under three agreements. The WAC in turn distributes such water to properties in Grand Cayman outside of Cayman Water’s retail license area. The Company sells bulk water in The Bahamas through its majority-owned subsidiary, CW-Bahamas, under two agreements with the Water and Sewerage Corporation of The Bahamas (“WSC”), which distributes such water through its own pipeline system to residential, commercial and tourist properties on the island of New Providence. The Company has elected the “right to invoice” practical expedient for revenue recognition on its bulk water sale contracts and recognizes revenue in the amount to which the Company has a right to invoice, recognizing this revenue from the transfer of goods or services to customers at a point in time. Services and Manufacturing revenue The Company designs, constructs, sells, operates and maintains, and provides consulting services related to water, wastewater and water reuse infrastructure through PERC. All of PERC's customers are companies or governmental entities located in the United States. Effective October 2023, PERC acquired REC, a company that provides operations and maintenance and consulting services to companies and governmental entities located in the state of Colorado. The Company also provides design, engineering, management, procurement and construction services for desalination infrastructure through DesalCo, which serves customers in the Cayman Islands, The Bahamas and the British Virgin Islands. The Company, through Aerex, is a custom and specialty manufacturer of systems and products applicable to commercial, municipal and industrial water production and treatment. Substantially all of Aerex’s customers are U.S. companies. The Company generates construction, operations and maintenance, design and consulting revenue from PERC and DesalCo and generates manufacturing revenue from Aerex. The Company also generates operations and maintenance and consulting revenue from REC. The Company recognizes revenue for its construction and custom/specialized manufacturing contracts The Company has elected the “right to invoice” practical expedient for revenue recognition on its operations and maintenance, design and consulting contracts and recognizes revenue in the amount to which the Company has a right to invoice, recognizing this revenue from the transfer of goods or services to customers at a point in time. For the three months ended September 30, 2024 and 2023, the Company recognized $4,246,506 and $24,219,737, respectively, of its services revenue from the transfer of goods or services to customers over time. The remaining services revenue of $8,431,331 and $5,207,927, respectively, was recognized from the transfer of goods or services to customers at a point in time. For the nine months ended September 30, 2024 and 2023, the Company recognized $17,631,774 and $52,648,271, respectively, of its services revenue from the transfer of goods or services to customers over time. The remaining services revenue of $24,386,143 and $13,595,057, respectively, was recognized from the transfer of goods or services to customers at a point in time. For the three and nine months ended September 30, 2024 and 2023, the Company recognized all of its manufacturing revenue from the transfer of goods or services to customers over time. Revenue recognized and amounts billed on contracts in progress are summarized as follows: September 30, December 31, 2024 2023 Revenue recognized to date on contracts in progress $ 121,305,155 $ 108,952,682 Amounts billed to date on contracts in progress (127,710,070) (101,724,459) Retainage 2,344,556 8,087,823 Net contract asset /(liability) $ (4,060,359) $ 15,316,046 The above net balances are reflected in the accompanying condensed consolidated balance sheets as follows: September 30, December 31, 2024 2023 Contract assets $ 1,958,361 $ 21,553,057 Contract liabilities (6,018,720) (6,237,011) Net contract asset /(liability) $ (4,060,359) $ 15,316,046 As of September 30, 2024, the Company had unsatisfied or partially unsatisfied performance obligations for contracts in progress representing approximately $154.6 million in aggregate transaction price for contracts with an original expected length of greater than one year . The Company expects to earn revenue as it satisfies its performance obligations under those contracts in the amount of approximately $8.1 million during the remainder of the year ending December 31, 2024 and approximately $146.5 million thereafter . In addition, the Company recognized revenue of approximately $ 6.2 million in the nine months ended September 30, 2024, that was included in the contract liability balance as of December 31, 2023. Practical Expedients and Exemptions The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed. Comparative amounts:

Segment information

Segment information	9 Months Ended
Segment information	Sep. 30, 2024
Segment information
Segment information	3. Segment information The Company has four reportable segments: retail, bulk, services and manufacturing. The retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman pursuant to an exclusive license granted by the Cayman Islands government. The bulk segment supplies potable water to government utilities in Grand Cayman and The Bahamas under long-term contracts. The services segment designs, constructs and sells water infrastructure and provides management and operating services to third parties. The manufacturing segment manufactures and services a wide range of custom and specialized water-related products applicable to commercial, municipal and industrial water production, supply and treatment. Consistent with prior periods, the Company records all non-direct general and administrative expenses in its retail segment and does not allocate any of these non-direct expenses to its other three business segments. The accounting policies of the segments are consistent with those described in Note 2. The Company evaluates each segment’s performance based upon its income (or loss) from operations. All intercompany transactions are eliminated for segment presentation purposes. The Company’s segments are strategic business units that are managed separately because each segment sells different products and/or services, serves customers with distinctly different needs and generates different gross profit margins. Three Months Ended September 30, 2024 Retail Bulk Services Manufacturing Total Revenue $ 7,585,992 $ 8,767,168 $ 12,677,837 $ 4,359,560 $ 33,390,557 Cost of revenue 3,606,944 5,969,292 9,409,325 2,770,338 21,755,899 Gross profit 3,979,048 2,797,876 3,268,512 1,589,222 11,634,658 General and administrative expenses 4,359,476 381,230 1,469,845 745,418 6,955,969 Gain on asset dispositions and impairments, net 201,582 — — — 201,582 Income (loss) from operations $ (178,846) $ 2,416,646 $ 1,798,667 $ 843,804 4,880,271 Other income, net 724,040 Income before income taxes 5,604,311 Provision for income taxes 490,209 Net income from continuing operations 5,114,102 Income from continuing operations attributable to non-controlling interests 156,784 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 4,957,318 Net loss from discontinued operations (502,854) Net income attributable to Consolidated Water Co. Ltd. stockholders $ 4,454,464 Depreciation and amortization expenses for the three months ended September 30, 2024 for the retail, bulk, services and manufacturing segments were $638,465, $726,503, $247,330 and $65,775, respectively. Three Months Ended September 30, 2023 Retail Bulk Services Manufacturing Total Revenue $ 7,216,574 $ 8,488,615 $ 29,427,664 $ 4,721,222 $ 49,854,075 Cost of revenue 3,371,891 5,835,837 20,174,645 3,857,274 33,239,647 Gross profit 3,844,683 2,652,778 9,253,019 863,948 16,614,428 General and administrative expenses 4,225,825 347,668 861,835 437,162 5,872,490 Income (loss) from operations $ (381,142) $ 2,305,110 $ 8,391,184 $ 426,786 10,741,938 Other income, net 236,066 Income before income taxes 10,978,004 Provision for income taxes 1,976,453 Net income from continuing operations 9,001,551 Income attributable to non-controlling interests 163,428 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 8,838,123 Net loss from discontinued operations (232,994) Net income attributable to Consolidated Water Co. Ltd. stockholders $ 8,605,129 Depreciation and amortization expenses for the three months ended September 30, 2023 for the retail, bulk, services and manufacturing segments were $593,306, $748,594, $182,825 and $68,197, respectively. Nine Months Ended September 30, 2024 Retail Bulk Services Manufacturing Total Revenue $ 24,392,814 $ 25,557,220 $ 42,017,917 $ 13,591,154 $ 105,559,105 Cost of revenue 10,828,421 17,632,010 30,536,801 9,428,978 68,426,210 Gross profit 13,564,393 7,925,210 11,481,116 4,162,176 37,132,895 General and administrative expenses 12,842,624 1,088,639 4,264,323 1,930,706 20,126,292 Gain on asset dispositions and impairments, net 195,452 — 3,000 — 198,452 Income from operations $ 917,221 $ 6,836,571 $ 7,219,793 $ 2,231,470 17,205,055 Other income, net 1,560,650 Income before income taxes 18,765,705 Provision for income taxes 2,175,838 Net income from continuing operations 16,589,867 Income from continuing operations attributable to non-controlling interests 448,724 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 16,141,143 Net income from discontinued operations 10,637,926 Net income attributable to Consolidated Water Co. Ltd. stockholders $ 26,779,069 Depreciation and amortization expenses for the nine months ended September 30, 2024 for the retail, bulk, services and manufacturing segments were $1,912,893, $2,159,557, $750,630 and $197,330, respectively. Nine Months Ended September 30, 2023 Retail Bulk Services Manufacturing Total Revenue $ 22,560,998 $ 25,975,483 $ 66,243,328 $ 12,180,519 $ 126,960,328 Cost of revenue 10,355,817 18,010,718 46,466,864 9,489,870 84,323,269 Gross profit 12,205,181 7,964,765 19,776,464 2,690,649 42,637,059 General and administrative expenses 12,668,467 1,080,543 2,855,067 1,289,990 17,894,067 Gain (loss) on asset dispositions and impairments, net (7,287) 12,270 — 1,933 6,916 Income (loss) from operations $ (470,573) $ 6,896,492 $ 16,921,397 $ 1,402,592 24,749,908 Other income, net 522,256 Income before income taxes 25,272,164 Provision for income taxes 4,366,005 Net income from continuing operations 20,906,159 Income from continuing operations attributable to non-controlling interests 463,775 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 20,442,384 Net loss from discontinued operations (699,858) Net income attributable to Consolidated Water Co. Ltd. stockholders $ 19,742,526 Depreciation and amortization expenses for the nine months ended September 30, 2023 for the retail, bulk, services and manufacturing segments were $1,813,280, $2,316,923, $528,258 and $204,320, respectively. As of September 30, 2024 Retail Bulk Services Manufacturing Total Accounts receivable, net $ 2,720,278 $ 25,258,343 $ 7,015,961 $ 2,205,039 $ 37,199,621 Inventory, current and non-current $ 3,271,606 $ 4,847,304 $ — $ 990,481 $ 9,109,391 Contract assets $ — $ — $ 1,237,011 $ 721,350 $ 1,958,361 Property, plant and equipment, net $ 31,863,964 $ 18,769,485 $ 954,095 $ 1,615,674 $ 53,203,218 Construction in progress $ 1,889,549 $ 709,326 $ — $ 200,260 $ 2,799,135 Intangibles, net $ — $ — $ 2,269,796 $ 591,111 $ 2,860,907 Goodwill $ 1,170,511 $ 1,948,875 $ 7,756,807 $ 1,985,211 $ 12,861,404 Total segment assets $ 98,835,592 $ 70,098,621 $ 50,915,586 $ 18,203,082 $ 238,052,881 Assets of discontinued operations $ 314,847 Total assets $ 238,367,728 As of December 31, 2023 Retail Bulk Services Manufacturing Total Accounts receivable, net $ 3,425,948 $ 26,965,126 $ 6,802,780 $ 1,033,037 $ 38,226,891 Inventory, current and non-current $ 3,041,460 $ 4,858,324 $ 55,272 $ 3,135,357 $ 11,090,413 Contract assets $ — $ — $ 17,715,872 $ 3,837,185 $ 21,553,057 Property, plant and equipment, net $ 32,809,487 $ 20,370,056 $ 1,143,884 $ 1,559,094 $ 55,882,521 Construction in progress $ 380,436 $ — $ — $ 115,035 $ 495,471 Intangibles, net $ — $ — $ 2,692,074 $ 661,111 $ 3,353,185 Goodwill $ 1,170,511 $ 1,948,875 $ 7,756,807 $ 1,985,211 $ 12,861,404 Total segment assets $ 58,774,647 $ 63,956,725 $ 58,476,773 $ 15,888,642 $ 197,096,787 Assets of discontinued operations $ 21,340,805 Total assets $ 218,437,592

Earnings per share

Earnings per share	9 Months Ended
Earnings per share	Sep. 30, 2024
Earnings per share
Earnings per share	4. Earnings per share Earnings per share (“EPS”) is computed on a basic and diluted basis. Basic EPS is computed by dividing net income (less preferred stock dividends) available to common stockholders by the weighted average number of common shares outstanding during the period. The computation of diluted EPS assumes the issuance of common shares for all potential common shares outstanding during the reporting period and, if dilutive, the effect of stock options as computed under the treasury stock method. The following summarizes information related to the computation of basic and diluted EPS: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders $ 4,957,318 $ 8,838,123 $ 16,141,143 $ 20,442,384 Less: preferred stock dividends (4,912) (4,295) (13,754) (11,305) Net income from continuing operations available to common shares in the determination of basic earnings per common share 4,952,406 8,833,828 16,127,389 20,431,079 Income (loss) from discontinued operations (502,854) (232,994) 10,637,926 (699,858) Net income available to common shares in the determination of basic earnings per common share $ 4,449,552 $ 8,600,834 $ 26,765,315 $ 19,731,221 Weighted average number of common shares in the determination of basic earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders 15,833,715 15,742,854 15,830,599 15,734,234 Plus: Weighted average number of preferred shares outstanding during the period 45,118 45,950 44,494 38,385 Potential dilutive effect of unexercised options and unvested stock grants 110,768 139,800 110,926 137,106 Weighted average number of shares used for determining diluted earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders 15,989,601 15,928,604 15,986,019 15,909,725

Discontinued operations

Discontinued operations	9 Months Ended
Discontinued operations	Sep. 30, 2024
Discontinued operations
Discontinued operations - Mexico project development	5. Discontinued operations - Mexico project development In 2010, the Company began the pursuit, through its Netherlands subsidiary, CW-Cooperatief, and its Mexico subsidiary, NSC, of a project (the “Project”) that encompassed the construction, operation and minority ownership of a 100 million gallons per day seawater reverse osmosis desalination plant to be located in northern Baja California, Mexico and accompanying pipelines to deliver water to the Mexican potable water system. Through a series of transactions that began in 2012, NSC purchased 20.1 hectares of land for approximately $21.1 million on which the proposed Project’s plant was to be constructed. In November 2015, the State of Baja California (the “State”) officially commenced the public tender for the Project. A consortium (the “Consortium”) comprised of NSC and two other parties submitted its tender for the Project in April 2016 and in June 2016, the State designated the Consortium as the winner of the tender process for the Project. In August 2016, NSC incorporated a new company under the name AdR to pursue completion of the Project and executed a shareholders agreement for AdR agreeing among other things that (i) AdR would purchase the land and other Project assets from NSC on the date that the Project begins commercial operation and (ii) AdR would enter into a Management and Technical Services Agreement with NSC effective on the first day that the Project begins commercial operation. On August 22, 2016, the Public Private Partnership Agreement for the Project (the “APP Contract”) was executed between AdR, the State Water Commission of Baja, California (“CEA”), and the Government of Baja California, as represented by the Secretary of Planning and Finance and the Public Utilities Commission of Tijuana (“CESPT”). The APP Contract required AdR to design, construct, finance and operate a seawater reverse osmosis desalination plant (and accompanying aqueduct) with a capacity of up to 100 million gallons per day in two phases: the first with a capacity of 50 million gallons per day and an aqueduct to the Mexican public water system in Tijuana, Baja California and the second phase with a capacity of 50 million gallons per day. The first phase was to be operational within 36 months of commencing construction and the second phase was to be operational by January 2025. The APP Contract further required AdR to operate and maintain the plant and aqueduct for a period of 37 years starting from the commencement of operation of the first phase. At the end of the operating period, the plant and aqueduct would have been transferred to CEA. On June 29, 2020, AdR received a letter (the “Letter”) from the Director General of CEA and the Director General of CESPT terminating the APP Contract. The Letter requested that AdR provide an inventory of the assets that comprised the “Project Works” (as defined in the APP Contract) for the purpose of acknowledging and paying the non-recoverable expenses made by AdR in connection with the Project, with such reimbursement to be calculated in accordance with the terms of the APP Contract. On August 28, 2020, AdR submitted their list of non-recoverable expenses, including those of NSC, to CEA and CESPT which was comprised of 51,144,525 United States dollars and an additional 137,333,114 Mexican pesos. The Company believed CW-Cooperatief, as a Netherlands company, had certain rights relating to its investments in NSC and AdR under the Agreement on Promotion, Encouragement and Reciprocal Protection of Investments between the Kingdom of the Netherlands and the United Mexican States In February 2022, CW-Cooperatief, filed a Request for Arbitration with the International Centre for Settlement of International Disputes (“ICSID”) requesting that the United Mexican States pay CW-Cooperatief damages in excess of US$51 million plus MXN$137 million (with the exact amount to be quantified in the proceedings), plus fees, costs and pre- and post-award interest. On May 29, 2024, the Company, through CW-Cooperatief; NSC, and AdR entered into a settlement agreement (the “Settlement Agreement”) with the State and Banco Nacional de Obras y Servicios Públicos, S.N.C., as trustee under the trust agreement for the trust named Fondo Nacional de Infraestructura (the “Trust”). Under the Settlement Agreement, CW-Cooperatief requested that ICSID discontinue the arbitration and on May 31, 2024, ICSID issued an order discontinuing the arbitration. Pursuant to the Settlement Agreement, the Trust purchased the 20.1 hectares of land on which the Project’s plant was to be constructed, including related rights of way (the “Land”), on an “as-is” basis, from NSC for MXN$596,144,000. The sale of the Land to the Trust was closed on June 14, 2024 at which time the MXN$596,144,000 was paid to the Company and converted at the prevailing exchange rate on that date into US$31,959,685. In connection with the Settlement Agreement on June 14, 2024, the State also paid NSC MXN$20,000,000 to purchase certain documentation owned by NSC relating to the Project. As a result of the Settlement Agreement: (i) the parties have been released from all obligations owed to each other in connection with the APP Contract and the arbitration; and (ii) no party to the Settlement Agreement may institute any legal proceedings against another party thereto with respect to the matters which have been addressed by the Settlement Agreement. The Settlement Agreement and any matter arising out of or in connection with it are governed by the federal laws of Mexico. Summarized financial information for the discontinued Mexico project development operation is as follows: September 30, December 31, 2024 2023 Cash $ 169,848 $ 91,283 Prepaid expenses and other current assets 144,999 120,234 Land — 21,126,898 Other assets — 2,390 Total assets of discontinued operations $ 314,847 $ 21,340,805 Total liabilities of discontinued operations $ 451,839 $ 364,665 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Loss from discontinued operations $ (502,854) $ (232,994) $ (1,496,840) $ (699,858) Gain on sale of land and project documentation $ — $ — $ 12,134,766 $ — Depreciation expense $ — $ — $ — $ —

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases
Leases	6. Leases The Company’s leases consist primarily of leases for office and warehouse space. For leases with terms greater than twelve months, the related asset and obligation are recorded at the present value of the lease payments over the term. Many of these leases contain rental escalation clauses which are factored into the determination of the lease payments when appropriate. When available, the lease payments are discounted using the rate implicit in the lease; however, the Company’s current leases do not provide a readily determinable implicit rate. Therefore, the Company’s incremental borrowing rate is estimated to discount the lease payments based on information available at the lease commencement. These leases contain both lease and non-lease components, which the Company has elected to treat as a single lease component. The Company elected not to recognize leases that have an original lease term, including reasonably certain renewal or purchase obligations, of twelve months or less in its condensed consolidated balance sheets for all classes of underlying assets. Lease costs for such short-term leases are expensed on a straight-line basis over the lease term. Effective May 1, 2024, the Company entered into a new office lease for the existing office located in Grand Cayman, Cayman Islands under similar terms compared to the prior lease. This new lease has a term of five years from the commencement date with an option for an additional five-year term. All lease assets denominated in a foreign currency are measured using the exchange rate at the commencement of the lease. All lease liabilities denominated in a foreign currency are remeasured using the exchange rate as of the condensed consolidated balance sheet date. Lease assets and liabilities The following table presents the lease-related assets and liabilities and their respective classification on the condensed consolidated balance sheets: September 30, December 31, 2024 2023 ASSETS Current Prepaid expenses and other current assets $ 55,502 $ 110,541 Noncurrent Operating lease right-of-use assets 3,328,936 2,135,446 Total lease right-of-use assets $ 3,384,438 $ 2,245,987 LIABILITIES Current Current maturities of operating leases $ 633,971 $ 456,865 Noncurrent Noncurrent operating leases 2,784,742 1,827,302 Total lease liabilities $ 3,418,713 $ 2,284,167 Weighted average remaining lease term: Operating leases 5.2 years 6.1 years Weighted average discount rate: Operating leases 6.56% 5.67% The components of lease costs were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease costs $ 213,090 $ 181,201 $ 633,692 $ 544,530 Short-term lease costs 153,227 78,189 270,351 128,992 Lease costs - discontinued operations 5,222 14,942 29,364 34,371 Total lease costs $ 371,539 $ 274,332 $ 933,407 $ 707,893 Supplemental cash flow information related to leases is as follows: Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of liabilities: Operating cash outflows for operating leases $ 699,497 $ 589,354 Operating cash outflows for operating leases - discontinued operations — 8,405 Future lease payments relating to the Company’s operating lease liabilities from continuing operations as of September 30, 2024 were as follows: Years ending December 31, Total 2024 $ 209,949 2025 836,548 2026 763,783 2027 732,904 2028 749,143 Thereafter 978,023 Total future lease payments 4,270,350 Less: imputed interest (851,637) Total lease obligations 3,418,713 Less: current obligations (633,971) Noncurrent lease obligations $ 2,784,742

Fair value

Fair value	9 Months Ended
Fair value	Sep. 30, 2024
Fair value
Fair value	7. Fair value As of September 30, 2024 and December 31, 2023, the carrying amounts of cash equivalents, accounts receivable, accounts payable, accrued expenses, accrued compensation, dividends payable and other current liabilities approximate their fair values due to the short-term maturities of these instruments. Under US GAAP, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. US GAAP guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three levels of inputs that may be used to measure fair value: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company reviews its fair value hierarchy classifications on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. As of September 30, 2024 and December 31, 2023, the Company does not have assets and liabilities measured at fair value to present in the fair value hierarchy.

Commitments and contingencies

Commitments and contingencies	9 Months Ended
Commitments and contingencies	Sep. 30, 2024
Commitments and contingencies
Commitments and contingencies	8 . Commitments and contingencies Cayman Water The Company sells water through its Cayman Water retail operations under a license issued in July 1990 by the Cayman Islands government (the “1990 license”) that granted Cayman Water the exclusive right to provide potable water to customers within its licensed service area. Although the 1990 license has not been expressly extended after January 2018, the Company continues to supply water under the terms of the 1990 license, as further discussed in the following paragraph. Pursuant to the 1990 license, Cayman Water has the exclusive right to produce potable water and distribute it by pipeline to its licensed service area, which consists of two of the three most populated areas of Grand Cayman Island: Seven Mile Beach and West Bay. For the three months ended September 30, 2024 and 2023, the Company generated approximately 23% and 14%, respectively, of its consolidated revenue and 34% and 23%, respectively, of its consolidated gross profit from the retail water operations conducted under the 1990 license. For the nine months ended September 30, 2024 and 2023, the Company generated approximately 23% and 18%, respectively, of its consolidated revenue and 36% and 29%, respectively, of its consolidated gross profit from the retail water operations conducted under the 1990 license. The 1990 license was originally scheduled to expire in July 2010 but was extended several times by the Cayman Islands government in order to provide the parties with additional time to negotiate the terms of a new license agreement. The most recent express extension of the 1990 license expired on January 31, 2018. The Company continues to operate under the terms of the 1990 license, providing water services to the level and quality specified in the 1990 license and in accordance with its understanding of its legal obligations, treating those obligations set forth in the 1990 license as operative notwithstanding the expiration of the express extension The Company continues to pay the royalty of 7.5% of the revenue that Cayman Water collects as required under the 1990 license. In October 2016, the Government of the Cayman Islands passed legislation which created a new utilities regulation and competition office (“OfReg”). OfReg is an independent and accountable regulatory body with a view of protecting the rights of consumers, encouraging affordable utility services and promoting competition. OfReg, which began operations in January 2017, has the ability to supervise, monitor and regulate multiple utility undertakings and markets. Supplemental legislation was passed by the Government of the Cayman Islands in April 2017, which transferred responsibility for the economic regulation of the water utility sector and the negotiations with the Company for a new retail license from the WAC to OfReg in May 2017. The Company began license negotiations with OfReg in July 2017 and such negotiations are ongoing. The Company has been informed during its retail license negotiations, both by OfReg and its predecessor in these negotiations, that the Cayman Islands government seeks to restructure the terms of its license in a manner that could significantly reduce the operating income and cash flows the Company has historically generated from its retail license. The Company is presently unable to determine what impact the resolution of its retail license negotiations will have on its consolidated financial condition or results of operations but such resolution could result in a material reduction (or the loss) of the operating income and cash flows the Company has historically generated from Cayman Water’s retail operations and could require the Company to record impairment losses to reduce the carrying values of its retail segment assets. Such impairment losses could have a material adverse impact on the Company’s consolidated financial condition and results of operations. CW-Bahamas CW-Bahamas’ accounts receivable balances (which include accrued interest) due from the WSC amounted to $25.1 million and $26.9 million as of September 30, 2024 and December 31, 2023, respectively. Approximately 77% and 80% of the accounts receivable balances were delinquent as of those dates, respectively. From time to time (including presently), CW-Bahamas has experienced delays in collecting its accounts receivable from the WSC. When these delays occur, the Company holds discussions and meetings with representatives of the WSC and The Bahamas government, and as a result, payment schedules are developed for WSC’s delinquent accounts receivable. All previous delinquent accounts receivable from the WSC, including accrued interest thereon, were eventually paid in full. Based upon this payment history, CW-Bahamas has not provided a material allowance for credit losses for its accounts receivable from the WSC as of September 30, 2024. CW-Bahamas held discussions with the WSC in March 2024 and with representatives of The Bahamas Government in April 2024 during which CW-Bahamas was informed that the Government intends to substantially reduce CW-Bahamas’ accounts receivable from the WSC before the end of 2024. In a report dated October 6, 2022, Moody’s Investor Services (“Moody’s”) downgraded The Bahamas’ long-term issuer and senior unsecured ratings to B1 from Ba3. Moody’s also lowered The Bahamas’ local currency ceiling to Baa3 from Baa2 and its foreign currency ceiling to Ba1 from Baa3. Moody’s has maintained these ratings through the date of its most current report issued in October 2024. If CW-Bahamas is unable to collect a sufficient portion of its delinquent accounts receivable, one or more of the following events may occur: (i) CW-Bahamas may not have sufficient liquidity to meet its obligations; (ii) the Company may be required to cease the recognition of revenue on CW-Bahamas’ water supply agreements with the WSC; and (iii) the Company may be required to provide an additional allowance for credit losses for CW-Bahamas’ accounts receivable. Any of these events could have a material adverse impact on the Company’s consolidated financial condition, results of operations, and cash flows. CW-Bahamas Performance Guarantees The contracts to supply water to the WSC from the Blue Hills and Windsor plants require CW-Bahamas to guarantee delivery of a minimum quantity of water per week. If the WSC requires the water and

Impact of recent accounting sta

Impact of recent accounting standards	9 Months Ended
Impact of recent accounting standards	Sep. 30, 2024
Impact of recent accounting standards
Impact of recent accounting standards	9. Impact of recent accounting standards Adoption of new accounting standards: None. Effect of newly issued but not yet effective accounting standards: In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Subsequent events

Subsequent events	9 Months Ended
Subsequent events	Sep. 30, 2024
Subsequent events
Subsequent events	10. Subsequent events The Company evaluated subsequent events through the time of the filing of this report on Form 10-Q. The Company is not aware of any significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on its condensed consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 4,454,464	$ 8,605,129	$ 26,779,069	$ 19,742,526

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting policies (Policies)

Accounting policies (Policies)	9 Months Ended
Accounting policies (Policies)	Sep. 30, 2024
Accounting policies
Basis of consolidation	Basis of consolidation: In 2019 and 2020, CW-Holdings acquired 61% of PERC. In January 2023, CW-Holdings purchased the remaining 39% ownership interest in PERC for $2.4 million in cash, and 368,383 shares of the Company’s common stock having a value of approximately $5.36 million based upon the opening trading price of the Company’s common stock on The Nasdaq Global Market on the date of the transaction. In September 2021, Kalaeloa Desalco was formed to pursue a project in Oahu, Hawaii. On June 2, 2023, Kalaeloa Desalco signed a definitive agreement with the Honolulu Board of Water Supply to design, construct, operate and maintain a 1.7 million gallons per day seawater reverse osmosis desalination plant in Oahu, Hawaii. Effective October 1, 2023, the Company purchased, through its wholly-owned subsidiary PERC, a 100% ownership interest in REC, a Colorado company that operates and maintains water and wastewater treatment facilities and provides technical services to clients throughout the Rocky Mountain and Eastern Plains Regions of Colorado. PERC acquired REC for approximately $4.1 million and recorded goodwill and intangible assets from this acquisition of $2,436,391 and $1,108,390 respectively. The accompanying interim condensed consolidated financial statements are unaudited. These condensed consolidated financial statements reflect all adjustments (which are of a normal recurring nature) that, in the opinion of management, are necessary to fairly present the Company’s consolidated financial position, results of operations and cash flows as of and for the periods presented. The consolidated results of operations for these interim periods are not necessarily indicative of the operating results for future periods, including the fiscal year ending December 31, 2024. These condensed consolidated financial statements and notes are presented in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) relating to interim financial statements and in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted in these condensed consolidated financial statements pursuant to SEC rules and regulations, although the Company believes that the disclosures made herein are adequate to make the information not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Foreign currency	Foreign currency: Net foreign currency gains arising from transactions and re-measurements were $24,807 and $22,077 for the three months ended September 30, 2024 and 2023, respectively, and $65,606 and $72,253 for the nine months ended September 30, 2024 and 2023, and are included in “Other income (expense) - Other” in the accompanying condensed consolidated statements of income.
Cash and cash equivalents	Cash and cash equivalents: Certain transfers from the Company’s Bahamas bank accounts to Company bank accounts in other countries require the approval of the Central Bank of The Bahamas. The equivalent United States dollar cash balances held in The Bahamas as of September 30, 2024 and December 31, 2023 were approximately $11.4 million and $3.0 million, respectively.
Goodwill and intangible assets	Goodwill and intangible assets: For the year ended December 31, 2023, the Company elected to assess qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment testing that was conducted in prior years for its reporting units. The Company assessed the relevant events and circumstances to evaluate whether it is more likely than not that the fair values of such reporting units were less than their carrying values. The events and circumstances assessed for each reporting unit included macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, and other relevant events. Based upon this qualitative assessment, the Company determined that it is more likely than not that the fair values of its reporting units exceeded their carrying values as of December 31, 2023.
Income taxes	Income taxes: The Company is not presently subject to income taxes in the other countries in which it operates.
Revenue recognition	Revenue recognition: The following table presents the Company’s revenue disaggregated by revenue source. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Retail revenue $ 7,585,992 $ 7,216,574 $ 24,392,814 $ 22,560,998 Bulk revenue 8,767,168 8,488,615 25,557,220 25,975,483 Services revenue 12,677,837 29,427,664 42,017,917 66,243,328 Manufacturing revenue 4,359,560 4,721,222 13,591,154 12,180,519 Total revenue $ 33,390,557 $ 49,854,075 $ 105,559,105 $ 126,960,328 Services revenue consists of the following: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Construction revenue $ 3,637,038 $ 24,204,446 $ 16,165,312 $ 52,563,822 Operations and maintenance revenue 7,492,121 5,021,081 21,660,396 12,750,902 Design and consulting revenue 1,548,678 202,137 4,192,209 928,604 Total services revenue $ 12,677,837 $ 29,427,664 $ 42,017,917 $ 66,243,328 Retail revenue The Company produces and supplies water to end-users, including residential, commercial and governmental customers in the Cayman Islands under an exclusive retail license issued to Cayman Water by the Cayman Islands government to provide water in two of the three most populated areas on Grand Cayman. Customers are billed on a monthly basis based on metered consumption and bills are typically collected within 30 to 45 days after the billing date. Receivables not collected within 45 days subject the customer to disconnection from water service. The Company recognizes revenue from retail water sales at the time water is supplied to the customer’s premises. The amount of water supplied is determined and invoiced based upon water meter readings performed at the end of each month. All retail water contracts are month-to-month contracts. The Company has elected the “right to invoice” practical expedient for revenue recognition on its retail water sale contracts and recognizes revenue in the amount to which the Company has a right to invoice, recognizing this revenue from the transfer of goods or services to customers at a point in time. Bulk revenue The Company produces and supplies water to government-owned utilities in the Cayman Islands and The Bahamas. OC-Cayman provides bulk water to the Water Authority-Cayman (“WAC”), a government-owned utility and regulatory agency, under three agreements. The WAC in turn distributes such water to properties in Grand Cayman outside of Cayman Water’s retail license area. The Company sells bulk water in The Bahamas through its majority-owned subsidiary, CW-Bahamas, under two agreements with the Water and Sewerage Corporation of The Bahamas (“WSC”), which distributes such water through its own pipeline system to residential, commercial and tourist properties on the island of New Providence. The Company has elected the “right to invoice” practical expedient for revenue recognition on its bulk water sale contracts and recognizes revenue in the amount to which the Company has a right to invoice, recognizing this revenue from the transfer of goods or services to customers at a point in time. Services and Manufacturing revenue The Company designs, constructs, sells, operates and maintains, and provides consulting services related to water, wastewater and water reuse infrastructure through PERC. All of PERC's customers are companies or governmental entities located in the United States. Effective October 2023, PERC acquired REC, a company that provides operations and maintenance and consulting services to companies and governmental entities located in the state of Colorado. The Company also provides design, engineering, management, procurement and construction services for desalination infrastructure through DesalCo, which serves customers in the Cayman Islands, The Bahamas and the British Virgin Islands. The Company, through Aerex, is a custom and specialty manufacturer of systems and products applicable to commercial, municipal and industrial water production and treatment. Substantially all of Aerex’s customers are U.S. companies. The Company generates construction, operations and maintenance, design and consulting revenue from PERC and DesalCo and generates manufacturing revenue from Aerex. The Company also generates operations and maintenance and consulting revenue from REC. The Company recognizes revenue for its construction and custom/specialized manufacturing contracts The Company has elected the “right to invoice” practical expedient for revenue recognition on its operations and maintenance, design and consulting contracts and recognizes revenue in the amount to which the Company has a right to invoice, recognizing this revenue from the transfer of goods or services to customers at a point in time. For the three months ended September 30, 2024 and 2023, the Company recognized $4,246,506 and $24,219,737, respectively, of its services revenue from the transfer of goods or services to customers over time. The remaining services revenue of $8,431,331 and $5,207,927, respectively, was recognized from the transfer of goods or services to customers at a point in time. For the nine months ended September 30, 2024 and 2023, the Company recognized $17,631,774 and $52,648,271, respectively, of its services revenue from the transfer of goods or services to customers over time. The remaining services revenue of $24,386,143 and $13,595,057, respectively, was recognized from the transfer of goods or services to customers at a point in time. For the three and nine months ended September 30, 2024 and 2023, the Company recognized all of its manufacturing revenue from the transfer of goods or services to customers over time. Revenue recognized and amounts billed on contracts in progress are summarized as follows: September 30, December 31, 2024 2023 Revenue recognized to date on contracts in progress $ 121,305,155 $ 108,952,682 Amounts billed to date on contracts in progress (127,710,070) (101,724,459) Retainage 2,344,556 8,087,823 Net contract asset /(liability) $ (4,060,359) $ 15,316,046 The above net balances are reflected in the accompanying condensed consolidated balance sheets as follows: September 30, December 31, 2024 2023 Contract assets $ 1,958,361 $ 21,553,057 Contract liabilities (6,018,720) (6,237,011) Net contract asset /(liability) $ (4,060,359) $ 15,316,046 As of September 30, 2024, the Company had unsatisfied or partially unsatisfied performance obligations for contracts in progress representing approximately $154.6 million in aggregate transaction price for contracts with an original expected length of greater than one year . The Company expects to earn revenue as it satisfies its performance obligations under those contracts in the amount of approximately $8.1 million during the remainder of the year ending December 31, 2024 and approximately $146.5 million thereafter . In addition, the Company recognized revenue of approximately $ 6.2 million in the nine months ended September 30, 2024, that was included in the contract liability balance as of December 31, 2023. Practical Expedients and Exemptions The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.
Comparative amounts	Comparative amounts:

Accounting policies (Tables)

Accounting policies (Tables)	9 Months Ended
Accounting policies (Tables)	Sep. 30, 2024
Accounting policies
Schedule of Disaggregation of revenue	The following table presents the Company’s revenue disaggregated by revenue source. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Retail revenue $ 7,585,992 $ 7,216,574 $ 24,392,814 $ 22,560,998 Bulk revenue 8,767,168 8,488,615 25,557,220 25,975,483 Services revenue 12,677,837 29,427,664 42,017,917 66,243,328 Manufacturing revenue 4,359,560 4,721,222 13,591,154 12,180,519 Total revenue $ 33,390,557 $ 49,854,075 $ 105,559,105 $ 126,960,328 Services revenue consists of the following: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Construction revenue $ 3,637,038 $ 24,204,446 $ 16,165,312 $ 52,563,822 Operations and maintenance revenue 7,492,121 5,021,081 21,660,396 12,750,902 Design and consulting revenue 1,548,678 202,137 4,192,209 928,604 Total services revenue $ 12,677,837 $ 29,427,664 $ 42,017,917 $ 66,243,328
Summary of revenue recognized and amounts billed on contracts in progress	Revenue recognized and amounts billed on contracts in progress are summarized as follows: September 30, December 31, 2024 2023 Revenue recognized to date on contracts in progress $ 121,305,155 $ 108,952,682 Amounts billed to date on contracts in progress (127,710,070) (101,724,459) Retainage 2,344,556 8,087,823 Net contract asset /(liability) $ (4,060,359) $ 15,316,046
Summary of net balances of billings reflected in the accompanying consolidated balance sheet	The above net balances are reflected in the accompanying condensed consolidated balance sheets as follows: September 30, December 31, 2024 2023 Contract assets $ 1,958,361 $ 21,553,057 Contract liabilities (6,018,720) (6,237,011) Net contract asset /(liability) $ (4,060,359) $ 15,316,046

Segment information (Tables)

Segment information (Tables)	9 Months Ended
Segment information (Tables)	Sep. 30, 2024
Segment information
Schedule of segment reporting information, by segment	Three Months Ended September 30, 2024 Retail Bulk Services Manufacturing Total Revenue $ 7,585,992 $ 8,767,168 $ 12,677,837 $ 4,359,560 $ 33,390,557 Cost of revenue 3,606,944 5,969,292 9,409,325 2,770,338 21,755,899 Gross profit 3,979,048 2,797,876 3,268,512 1,589,222 11,634,658 General and administrative expenses 4,359,476 381,230 1,469,845 745,418 6,955,969 Gain on asset dispositions and impairments, net 201,582 — — — 201,582 Income (loss) from operations $ (178,846) $ 2,416,646 $ 1,798,667 $ 843,804 4,880,271 Other income, net 724,040 Income before income taxes 5,604,311 Provision for income taxes 490,209 Net income from continuing operations 5,114,102 Income from continuing operations attributable to non-controlling interests 156,784 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 4,957,318 Net loss from discontinued operations (502,854) Net income attributable to Consolidated Water Co. Ltd. stockholders $ 4,454,464 Depreciation and amortization expenses for the three months ended September 30, 2024 for the retail, bulk, services and manufacturing segments were $638,465, $726,503, $247,330 and $65,775, respectively. Three Months Ended September 30, 2023 Retail Bulk Services Manufacturing Total Revenue $ 7,216,574 $ 8,488,615 $ 29,427,664 $ 4,721,222 $ 49,854,075 Cost of revenue 3,371,891 5,835,837 20,174,645 3,857,274 33,239,647 Gross profit 3,844,683 2,652,778 9,253,019 863,948 16,614,428 General and administrative expenses 4,225,825 347,668 861,835 437,162 5,872,490 Income (loss) from operations $ (381,142) $ 2,305,110 $ 8,391,184 $ 426,786 10,741,938 Other income, net 236,066 Income before income taxes 10,978,004 Provision for income taxes 1,976,453 Net income from continuing operations 9,001,551 Income attributable to non-controlling interests 163,428 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 8,838,123 Net loss from discontinued operations (232,994) Net income attributable to Consolidated Water Co. Ltd. stockholders $ 8,605,129 Depreciation and amortization expenses for the three months ended September 30, 2023 for the retail, bulk, services and manufacturing segments were $593,306, $748,594, $182,825 and $68,197, respectively. Nine Months Ended September 30, 2024 Retail Bulk Services Manufacturing Total Revenue $ 24,392,814 $ 25,557,220 $ 42,017,917 $ 13,591,154 $ 105,559,105 Cost of revenue 10,828,421 17,632,010 30,536,801 9,428,978 68,426,210 Gross profit 13,564,393 7,925,210 11,481,116 4,162,176 37,132,895 General and administrative expenses 12,842,624 1,088,639 4,264,323 1,930,706 20,126,292 Gain on asset dispositions and impairments, net 195,452 — 3,000 — 198,452 Income from operations $ 917,221 $ 6,836,571 $ 7,219,793 $ 2,231,470 17,205,055 Other income, net 1,560,650 Income before income taxes 18,765,705 Provision for income taxes 2,175,838 Net income from continuing operations 16,589,867 Income from continuing operations attributable to non-controlling interests 448,724 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 16,141,143 Net income from discontinued operations 10,637,926 Net income attributable to Consolidated Water Co. Ltd. stockholders $ 26,779,069 Depreciation and amortization expenses for the nine months ended September 30, 2024 for the retail, bulk, services and manufacturing segments were $1,912,893, $2,159,557, $750,630 and $197,330, respectively. Nine Months Ended September 30, 2023 Retail Bulk Services Manufacturing Total Revenue $ 22,560,998 $ 25,975,483 $ 66,243,328 $ 12,180,519 $ 126,960,328 Cost of revenue 10,355,817 18,010,718 46,466,864 9,489,870 84,323,269 Gross profit 12,205,181 7,964,765 19,776,464 2,690,649 42,637,059 General and administrative expenses 12,668,467 1,080,543 2,855,067 1,289,990 17,894,067 Gain (loss) on asset dispositions and impairments, net (7,287) 12,270 — 1,933 6,916 Income (loss) from operations $ (470,573) $ 6,896,492 $ 16,921,397 $ 1,402,592 24,749,908 Other income, net 522,256 Income before income taxes 25,272,164 Provision for income taxes 4,366,005 Net income from continuing operations 20,906,159 Income from continuing operations attributable to non-controlling interests 463,775 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders 20,442,384 Net loss from discontinued operations (699,858) Net income attributable to Consolidated Water Co. Ltd. stockholders $ 19,742,526 Depreciation and amortization expenses for the nine months ended September 30, 2023 for the retail, bulk, services and manufacturing segments were $1,813,280, $2,316,923, $528,258 and $204,320, respectively. As of September 30, 2024 Retail Bulk Services Manufacturing Total Accounts receivable, net $ 2,720,278 $ 25,258,343 $ 7,015,961 $ 2,205,039 $ 37,199,621 Inventory, current and non-current $ 3,271,606 $ 4,847,304 $ — $ 990,481 $ 9,109,391 Contract assets $ — $ — $ 1,237,011 $ 721,350 $ 1,958,361 Property, plant and equipment, net $ 31,863,964 $ 18,769,485 $ 954,095 $ 1,615,674 $ 53,203,218 Construction in progress $ 1,889,549 $ 709,326 $ — $ 200,260 $ 2,799,135 Intangibles, net $ — $ — $ 2,269,796 $ 591,111 $ 2,860,907 Goodwill $ 1,170,511 $ 1,948,875 $ 7,756,807 $ 1,985,211 $ 12,861,404 Total segment assets $ 98,835,592 $ 70,098,621 $ 50,915,586 $ 18,203,082 $ 238,052,881 Assets of discontinued operations $ 314,847 Total assets $ 238,367,728 As of December 31, 2023 Retail Bulk Services Manufacturing Total Accounts receivable, net $ 3,425,948 $ 26,965,126 $ 6,802,780 $ 1,033,037 $ 38,226,891 Inventory, current and non-current $ 3,041,460 $ 4,858,324 $ 55,272 $ 3,135,357 $ 11,090,413 Contract assets $ — $ — $ 17,715,872 $ 3,837,185 $ 21,553,057 Property, plant and equipment, net $ 32,809,487 $ 20,370,056 $ 1,143,884 $ 1,559,094 $ 55,882,521 Construction in progress $ 380,436 $ — $ — $ 115,035 $ 495,471 Intangibles, net $ — $ — $ 2,692,074 $ 661,111 $ 3,353,185 Goodwill $ 1,170,511 $ 1,948,875 $ 7,756,807 $ 1,985,211 $ 12,861,404 Total segment assets $ 58,774,647 $ 63,956,725 $ 58,476,773 $ 15,888,642 $ 197,096,787 Assets of discontinued operations $ 21,340,805 Total assets $ 218,437,592

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
Earnings per share (Tables)	Sep. 30, 2024
Earnings per share
Schedule of computation of basic and diluted EPS	The following summarizes information related to the computation of basic and diluted EPS: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders $ 4,957,318 $ 8,838,123 $ 16,141,143 $ 20,442,384 Less: preferred stock dividends (4,912) (4,295) (13,754) (11,305) Net income from continuing operations available to common shares in the determination of basic earnings per common share 4,952,406 8,833,828 16,127,389 20,431,079 Income (loss) from discontinued operations (502,854) (232,994) 10,637,926 (699,858) Net income available to common shares in the determination of basic earnings per common share $ 4,449,552 $ 8,600,834 $ 26,765,315 $ 19,731,221 Weighted average number of common shares in the determination of basic earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders 15,833,715 15,742,854 15,830,599 15,734,234 Plus: Weighted average number of preferred shares outstanding during the period 45,118 45,950 44,494 38,385 Potential dilutive effect of unexercised options and unvested stock grants 110,768 139,800 110,926 137,106 Weighted average number of shares used for determining diluted earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders 15,989,601 15,928,604 15,986,019 15,909,725

Discontinued operations (Tables

Discontinued operations (Tables)	9 Months Ended
Discontinued operations (Tables)	Sep. 30, 2024
Discontinued operations
Schedule of financial information for Mexico project development	Summarized financial information for the discontinued Mexico project development operation is as follows: September 30, December 31, 2024 2023 Cash $ 169,848 $ 91,283 Prepaid expenses and other current assets 144,999 120,234 Land — 21,126,898 Other assets — 2,390 Total assets of discontinued operations $ 314,847 $ 21,340,805 Total liabilities of discontinued operations $ 451,839 $ 364,665 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Loss from discontinued operations $ (502,854) $ (232,994) $ (1,496,840) $ (699,858) Gain on sale of land and project documentation $ — $ — $ 12,134,766 $ — Depreciation expense $ — $ — $ — $ —

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases
Schedule of lease-related assets and liabilities	The following table presents the lease-related assets and liabilities and their respective classification on the condensed consolidated balance sheets: September 30, December 31, 2024 2023 ASSETS Current Prepaid expenses and other current assets $ 55,502 $ 110,541 Noncurrent Operating lease right-of-use assets 3,328,936 2,135,446 Total lease right-of-use assets $ 3,384,438 $ 2,245,987 LIABILITIES Current Current maturities of operating leases $ 633,971 $ 456,865 Noncurrent Noncurrent operating leases 2,784,742 1,827,302 Total lease liabilities $ 3,418,713 $ 2,284,167 Weighted average remaining lease term: Operating leases 5.2 years 6.1 years Weighted average discount rate: Operating leases 6.56% 5.67%
Schedule of Lease, Cost	The components of lease costs were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease costs $ 213,090 $ 181,201 $ 633,692 $ 544,530 Short-term lease costs 153,227 78,189 270,351 128,992 Lease costs - discontinued operations 5,222 14,942 29,364 34,371 Total lease costs $ 371,539 $ 274,332 $ 933,407 $ 707,893
Schedule of Cash Flow, Supplemental	Supplemental cash flow information related to leases is as follows: Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in measurement of liabilities: Operating cash outflows for operating leases $ 699,497 $ 589,354 Operating cash outflows for operating leases - discontinued operations — 8,405
Schedule of future lease payments relating to the Company's operating lease liabilities	Future lease payments relating to the Company’s operating lease liabilities from continuing operations as of September 30, 2024 were as follows: Years ending December 31, Total 2024 $ 209,949 2025 836,548 2026 763,783 2027 732,904 2028 749,143 Thereafter 978,023 Total future lease payments 4,270,350 Less: imputed interest (851,637) Total lease obligations 3,418,713 Less: current obligations (633,971) Noncurrent lease obligations $ 2,784,742

Accounting policies (Details)

Accounting policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Accounting policies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash and cash equivalents	$ 5,200		$ 5,200		$ 5,100
Deposits held in foreign bank	11,400		11,400
Foreign Currency Transaction Gain (Loss), before Tax [Abstract]
Foreign Currency Transaction Gain (Loss), before Tax	$ 24,807	$ 22,077	$ 65,606	$ 72,253
Bahamas [Member]
Deposits held in foreign bank					$ 3,000

Accounting policies - Additiona

Accounting policies - Additional Information (Details) gal in Millions			1 Months Ended
	Jun. 02, 2023 gal	Jan. 04, 2023 USD ($) shares	Nov. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 01, 2023	Dec. 31, 2020	Dec. 31, 2019
Intangibles, net				$ 2,860,907	$ 3,353,185
Goodwill				12,861,404	12,861,404
Kalaeloa Desalco
Seawater Reverse Osmosis Desalination Plant Per Day Processing Capacity \| gal	1.7
PERC Water Corporation
Ownership interest acquired		39%					61%	61%
Shares of the Company's common stock \| shares		368,383
Amount of consideration paid		$ 2,400,000
Common stock value		$ 5,360,000
Ramey Environmental Compliance, Inc (REC)
Ownership interest acquired						100%
Amount of consideration paid			$ 4,100,000
Intangibles, net			1,108,390
Goodwill			$ 2,436,391
Retail [Member]
Goodwill				1,170,511	1,170,511
Bulk [Member]
Goodwill				1,948,875	1,948,875
Services [Member]
Intangibles, net				2,269,796	2,692,074
Goodwill				7,756,807	7,756,807
Manufacturing Units [Member]
Intangibles, net				591,111	661,111
Goodwill				$ 1,985,211	$ 1,985,211

Accounting policies - Goodwill

Accounting policies - Goodwill and intangible assets (Details) - USD ($)	Jan. 04, 2023	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2020	Dec. 31, 2019
Goodwill		$ 12,861,404	$ 12,861,404
Intangible assets, net		2,860,907	3,353,185
Retail [Member]
Goodwill		1,170,511	1,170,511
Bulk [Member]
Goodwill		1,948,875	1,948,875
Services [Member]
Goodwill		7,756,807	7,756,807
Intangible assets, net		2,269,796	2,692,074
Manufacturing Units [Member]
Goodwill		1,985,211	1,985,211
Intangible assets, net		$ 591,111	$ 661,111
PERC Water Corporation
Ownership interest acquired	39%			61%	61%
Amount of consideration paid	$ 2,400,000

Accounting policies - Disaggreg

Accounting policies - Disaggregated revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total Revenue	$ 33,390,557	$ 49,854,075	$ 105,559,105	$ 126,960,328
Contracts in progress.
Net Income (Loss)	4,454,464	8,605,129	26,779,069	19,742,526
Income (loss) from operations	$ 4,880,271	$ 10,741,938	$ 17,205,055	$ 24,749,908
Increase in basic earnings	$ 0.31	$ 0.56	$ 1.02	$ 1.30
Increase in diluted earnings	$ 0.31	$ 0.55	$ 1.01	$ 1.28
Retail revenue [Member]
Total Revenue	$ 7,585,992	$ 7,216,574	$ 24,392,814	$ 22,560,998
Bulk revenue [Member]
Total Revenue	8,767,168	8,488,615	25,557,220	25,975,483
Services revenue [Member]
Total Revenue	12,677,837	29,427,664	42,017,917	66,243,328
Services revenue [Member] \| Transferred over Time [Member]
Total Revenue	4,246,506	24,219,737	17,631,774	52,648,271
Services revenue [Member] \| Transferred at Point in Time [Member]
Total Revenue	8,431,331	5,207,927	24,386,143	13,595,057
Manufacturing revenue [Member]
Total Revenue	4,359,560	4,721,222	13,591,154	12,180,519
Construction Sevices [Member]
Total Revenue	3,637,038	24,204,446	16,165,312	52,563,822
Operations and Maintenance [Member]
Total Revenue	7,492,121	5,021,081	21,660,396	12,750,902
Design and Consulting Services [Member]
Total Revenue	$ 1,548,678	$ 202,137	$ 4,192,209	$ 928,604

Accounting policies - Performan

Accounting policies - Performance obligations (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount recognized revenue included in the contract liability balance	$ 6.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 8.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 154.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 146.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years

Accounting policies - Revenue r

Accounting policies - Revenue recognized and billed on services (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting policies
Revenue recognized to date on contracts in progress	$ 121,305,155	$ 108,952,682
Amounts billed to date on contracts in progress	(127,710,070)	(101,724,459)
Retainage	2,344,556	8,087,823
Net contract asset /(liability)	(4,060,359)	15,316,046
Contract assets	1,958,361	21,553,057
Contract liabilities	(6,018,720)	(6,237,011)
Net contract asset /(liability)	$ (4,060,359)	$ 15,316,046

Segment information (Details)

Segment information (Details)	3 Months Ended		9 Months Ended
Segment information (Details)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments \| segment			4
Number of other business segments \| segment			3
Revenue	$ 33,390,557	$ 49,854,075	$ 105,559,105	$ 126,960,328
Cost of revenue	21,755,899	33,239,647	68,426,210	84,323,269
Gross profit	11,634,658	16,614,428	37,132,895	42,637,059
General and administrative expenses	6,955,969	5,872,490	20,126,292	17,894,067
Gain on asset dispositions and impairments, net	201,582		198,452	6,916
Income (loss) from operations	4,880,271	10,741,938	17,205,055	24,749,908
Other income, net	724,040	236,066	1,560,650	522,256
Income before income taxes	5,604,311	10,978,004	18,765,705	25,272,164
Provision for income taxes	490,209	1,976,453	2,175,838	4,366,005
Net income from continuing operations	5,114,102	9,001,551	16,589,867	20,906,159
Income from continuing operations attributable to non-controlling interests	156,784	163,428	448,724	463,775
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders	4,957,318	8,838,123	16,141,143	20,442,384
Net loss from discontinued operations	(502,854)	(232,994)	10,637,926	(699,858)
Net income attributable to Consolidated Water Co. Ltd. stockholders	4,454,464	8,605,129	26,779,069	19,742,526
Accounts receivable, net	37,199,621		37,199,621		$ 38,226,891
Inventory, current and non-current	9,109,391		9,109,391		11,090,413
Contract assets	1,958,361		1,958,361		21,553,057
Property, plant and equipment, net	53,203,218		53,203,218		55,882,521
Construction in progress	2,799,135		2,799,135		495,471
Intangibles, net	2,860,907		2,860,907		3,353,185
Goodwill	12,861,404		12,861,404		12,861,404
Total segment assets	238,052,881		238,052,881		197,096,787
Assets of discontinued operations	314,847		314,847		21,340,805
Total assets	238,367,728		238,367,728		218,437,592
Retail [Member]
Segment Reporting Information [Line Items]
Revenue	7,585,992	7,216,574	24,392,814	22,560,998
Cost of revenue	3,606,944	3,371,891	10,828,421	10,355,817
Gross profit	3,979,048	3,844,683	13,564,393	12,205,181
General and administrative expenses	4,359,476	4,225,825	12,842,624	12,668,467
Gain on asset dispositions and impairments, net	201,582		195,452	(7,287)
Income (loss) from operations	(178,846)	(381,142)	917,221	(470,573)
Accounts receivable, net	2,720,278		2,720,278		3,425,948
Inventory, current and non-current	3,271,606		3,271,606		3,041,460
Property, plant and equipment, net	31,863,964		31,863,964		32,809,487
Construction in progress	1,889,549		1,889,549		380,436
Goodwill	1,170,511		1,170,511		1,170,511
Total segment assets	98,835,592		98,835,592		58,774,647
Bulk [Member]
Segment Reporting Information [Line Items]
Revenue	8,767,168	8,488,615	25,557,220	25,975,483
Cost of revenue	5,969,292	5,835,837	17,632,010	18,010,718
Gross profit	2,797,876	2,652,778	7,925,210	7,964,765
General and administrative expenses	381,230	347,668	1,088,639	1,080,543
Gain on asset dispositions and impairments, net				12,270
Income (loss) from operations	2,416,646	2,305,110	6,836,571	6,896,492
Accounts receivable, net	25,258,343		25,258,343		26,965,126
Inventory, current and non-current	4,847,304		4,847,304		4,858,324
Property, plant and equipment, net	18,769,485		18,769,485		20,370,056
Construction in progress	709,326		709,326
Goodwill	1,948,875		1,948,875		1,948,875
Total segment assets	70,098,621		70,098,621		63,956,725
Services [Member]
Segment Reporting Information [Line Items]
Revenue	12,677,837	29,427,664	42,017,917	66,243,328
Cost of revenue	9,409,325	20,174,645	30,536,801	46,466,864
Gross profit	3,268,512	9,253,019	11,481,116	19,776,464
General and administrative expenses	1,469,845	861,835	4,264,323	2,855,067
Gain on asset dispositions and impairments, net			3,000
Income (loss) from operations	1,798,667	8,391,184	7,219,793	16,921,397
Accounts receivable, net	7,015,961		7,015,961		6,802,780
Inventory, current and non-current					55,272
Contract assets	1,237,011		1,237,011		17,715,872
Property, plant and equipment, net	954,095		954,095		1,143,884
Intangibles, net	2,269,796		2,269,796		2,692,074
Goodwill	7,756,807		7,756,807		7,756,807
Total segment assets	50,915,586		50,915,586		58,476,773
Manufacturing Units [Member]
Segment Reporting Information [Line Items]
Revenue	4,359,560	4,721,222	13,591,154	12,180,519
Cost of revenue	2,770,338	3,857,274	9,428,978	9,489,870
Gross profit	1,589,222	863,948	4,162,176	2,690,649
General and administrative expenses	745,418	437,162	1,930,706	1,289,990
Gain on asset dispositions and impairments, net				1,933
Income (loss) from operations	843,804	$ 426,786	2,231,470	$ 1,402,592
Accounts receivable, net	2,205,039		2,205,039		1,033,037
Inventory, current and non-current	990,481		990,481		3,135,357
Contract assets	721,350		721,350		3,837,185
Property, plant and equipment, net	1,615,674		1,615,674		1,559,094
Construction in progress	200,260		200,260		115,035
Intangibles, net	591,111		591,111		661,111
Goodwill	1,985,211		1,985,211		1,985,211
Total segment assets	$ 18,203,082		$ 18,203,082		$ 15,888,642

Segment information - Additiona

Segment information - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retail [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	$ 638,465	$ 593,306	$ 1,912,893	$ 1,813,280
Bulk [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	726,503	748,594	2,159,557	2,316,923
Services [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	247,330	182,825	750,630	528,258
Manufacturing Units [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	$ 65,775	$ 68,197	$ 197,330	$ 204,320

Earnings per share (Details)

Earnings per share (Details) - USD ($)	3 Months Ended		9 Months Ended
Earnings per share (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings per share
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders	$ 4,957,318	$ 8,838,123	$ 16,141,143	$ 20,442,384
Less: preferred stock dividends	(4,912)	(4,295)	(13,754)	(11,305)
Net income from continuing operations available to common shares in the determination of basic earnings per common share	4,952,406	8,833,828	16,127,389	20,431,079
Income (loss) from discontinued operations	(502,854)	(232,994)	10,637,926	(699,858)
Net income available to common shares in the determination of basic earnings per common share	$ 4,449,552	$ 8,600,834	$ 26,765,315	$ 19,731,221
Weighted average number of common shares in the determination of basic earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders (in shares)	15,833,715	15,742,854	15,830,599	15,734,234
Weighted average number of preferred shares outstanding during the period (in shares)	45,118	45,950	44,494	38,385
Potential dilutive effect of unexercised options and unvested stock grants	110,768	139,800	110,926	137,106
Weighted average number of shares used for determining diluted earnings per common share attributable to Consolidated Water Co. Ltd. common stockholders	15,989,601	15,928,604	15,986,019	15,909,725

Discontinued operations - Mexic

Discontinued operations - Mexico project development- Narratives (Details) gal in Millions							12 Months Ended
	Jun. 14, 2024 USD ($)	Feb. 09, 2022 USD ($)	Feb. 09, 2022 MXN ($)	Aug. 28, 2020 USD ($)	Aug. 28, 2020 MXN ($)	Aug. 22, 2016 gal	Dec. 31, 2010 gal	Jun. 14, 2024 MXN ($)	May 31, 2024 MXN ($)	Dec. 31, 2012 USD ($) ha
Schedule of Investments [Line Items]
Amount of non-recoverable expenses				$ 51,144,525	$ 137,333,114
Loss Contingency, Damages Sought, Value			$ 137,000,000
Minimum [Member]
Schedule of Investments [Line Items]
Loss Contingency, Damages Sought, Value		$ 51,000,000
Discontinued Operations.
Schedule of Investments [Line Items]
Disposal Group, Including Discontinued Operation, Consideration								$ 596,144,000	$ 596,144,000
Proceeds from Divestiture of Businesses	$ 31,959,685
Purchase of certain documentation	$ 20,000,000
NSC Agua [Member]
Schedule of Investments [Line Items]
Area of Land \| ha										20.1
Land										$ 21,100,000
NSC Agua [Member]
Schedule of Investments [Line Items]
Seawater Reverse Osmosis Desalination Plant Per Day Processing Capacity \| gal						100	100
Period in which construction must be completed						36 months
Period Required To Operate And Maintain Plant And Aqueduct						37 years
NSC Agua [Member] \| First Phase [Member]
Schedule of Investments [Line Items]
Seawater Reverse Osmosis Desalination Plant Per Day Processing Capacity \| gal						50
NSC Agua [Member] \| Second Phase [Member]
Schedule of Investments [Line Items]
Seawater Reverse Osmosis Desalination Plant Per Day Processing Capacity \| gal						50

Discontinued operations - Mex_2

Discontinued operations - Mexico project development (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets of discontinued operations	$ 314,847	$ 21,340,805
Discontinued Operations. \| Mexico Project Development
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash	169,848	91,283
Prepaid expenses and other current assets	144,999	120,234
Land		21,126,898
Other assets		2,390
Total assets of discontinued operations	314,847	21,340,805
Total liabilities of discontinued operations	$ 451,839	$ 364,665

Discontinued operations - Mex_3

Discontinued operations - Mexico project development - Financial Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations	$ (502,854)	$ (232,994)
Gain on sale of land and project documentation			$ 12,134,766
Discontinued Operations. \| Mexico Project Development
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations			(1,496,840)	$ (699,858)
Gain on sale of land and project documentation			$ 12,134,766

Leases - Lease assets and liabi

Leases - Lease assets and liabilities (Details) - USD ($)	Sep. 30, 2024	May 01, 2024	Dec. 31, 2023
Lessee, Operating Lease, Renewal Term		5 years
Noncurrent
Operating lease right-of-use assets	$ 3,328,936		$ 2,135,446
Total lease right-of-use assets	3,384,438		2,245,987
Current
Current maturities of operating leases	633,971		456,865
Noncurrent
Noncurrent operating leases	2,784,742		1,827,302
Total lease liabilities	$ 3,418,713		$ 2,284,167
Operating leases, weighted average remaining lease term	5 years 2 months 12 days		6 years 1 month 6 days
Operating leases, weighted average discount rate	6.56%		5.67%
Prepaid Expenses and Other Current Assets [Member]
Current
Operating lease assets, current	$ 55,502		$ 110,541

Leases - Components of lease co

Leases - Components of lease cost (Details) - USD ($)	3 Months Ended		9 Months Ended
Leases - Components of lease cost (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases
Operating lease costs	$ 213,090	$ 181,201	$ 633,692	$ 544,530
Short-term lease costs	153,227	78,189	270,351	128,992
Lease costs - discontinued operations	5,222	14,942	29,364	34,371
Total lease costs	$ 371,539	$ 274,332	$ 933,407	$ 707,893

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases
Operating cash outflows for operating leases	$ 699,497	$ 589,354
Operating cash flows from operating leases - discontinued operations		$ 8,405

Leases - Future lease payments

Leases - Future lease payments (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Leases
2023	$ 209,949
2024	836,548
2025	763,783
2026	732,904
2027	749,143
Thereafter	978,023
Total future lease payments	4,270,350
Less: imputed interest	(851,637)
Total lease obligations	3,418,713
Less: current obligations	(633,971)	$ (456,865)
Noncurrent lease obligations	$ 2,784,742	$ 1,827,302

Commitments and contingencies (

Commitments and contingencies (Details) gal in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) gal	Sep. 30, 2023	Sep. 30, 2024 USD ($) gal	Sep. 30, 2023	Dec. 31, 2023 USD ($)
Contingencies
Cayman Water Retail Operations, Percentage Of Revenue	23%	14%	23%	18%
Cayman Water Retail Operations, Percentage Of Gross Profit	34%	23%	36%	29%
Percentage of revenue collected paid	7.50%		7.50%
Percentage of delinquent account receivables	77%		77%		80%
Consolidated Water Bahamas [Member]
Contingencies
Accounts Receivable, Net \| $	$ 25.1		$ 25.1		$ 26.9
Blue Hills Water Works Plant \| Consolidated Water Bahamas [Member]
Contingencies
Gallons of Water Delivered Per Week	63		63
Windsor Water Plant \| Consolidated Water Bahamas [Member]
Contingencies
Gallons of Water Delivered Per Week	16.8		16.8