AquaVenture Holdings Limited reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the third quarter of 2018, total revenues increased 23.7% to $36.8 million from $29.8 million in the 2017 period. Net loss for the third quarter of 2018 was $2.7 million or $0.10 per basic and diluted share, compared to a net loss of $7.3 million or $0.28 per basic and diluted share in the same period of 2017. Included in the net loss for the three months ended September 30, 2018 was a non-cash income tax benefit of $3.1 million related to the release of a deferred tax asset valuation allowance. Adjusted EBITDA was $12.7 million for the third quarter of 2018, a 26.6% increase over $10.0 million in the prior year period. Net cash provided by operating activities for the quarter ended September 30, 2018 was $8.3 million compared to $2.2 million for the same period of 2017. Capital expenditures were $5.7 million for the third quarter of 2018, compared to $4.1 million in the same period of 2017. Loss from operations was $1.159 million against $2.096 million a year ago. Loss before income tax expense was $4.783 million against $6.491 million a year ago.

For the nine months ended September 30, 2018, total revenue increased 17.2% to $103.8 million from $88.6 million in the same period of 2017. Net loss for the nine months ended September 30, 2018 was $14.0 million, or $0.53 per share, compared to a net loss of $18.6 million, or $0.70 per share, in the prior year period. Adjusted EBITDA was $34.2 million for the nine months ended September 30, 2018, a 20.5% increase over Adjusted EBITDA of $28.4 million in the same period of 2017. Net cash provided by operating activities for the nine months ended September 30, 2018 was $22.0 million compared to $14.6 for the same period of 2017. In addition, capital expenditures were $12.9 million, compared to $11.2 million in the prior year period. Loss from operations was $1.159 million against $2.096 million a year ago. Loss from operations was $4.79 million against $6.097 million a year ago. Loss before income tax expense was $15.311 million against $16.128 million a year ago.

For the full year 2018 outlook, the company has incorporated the anticipated impacts of the acquisitions completed since the beginning of 2018, including the most recently announced acquisition of AUC. As a result, the company increased its full year 2018 outlook and now expects to achieve revenues between $141 million and $144 million; adjusted EBITDA between $46 million and $48 million; and adjusted EBITDA plus the principal collected on the Peru construction contract between $51 million and $53 million.