Artesian Resources Corporation (ARTNA): Business Model Canvas

Tauchen Sie ein in die komplexe Welt des Wasserversorgungsmanagements mit Artesian Resources Corporation (ARTNA), einem in Delaware ansässigen Wasserdienstleister, der komplexe Infrastruktur- und Gemeindebedürfnisse in ein nahtloses, nachhaltiges Wasserversorgungssystem umwandelt. Durch die sorgfältige Ausbalancierung technologischer Innovation, Einhaltung gesetzlicher Vorschriften und kundenorientierter Dienstleistungen hat ARTNA ein ausgeklügeltes Geschäftsmodell entwickelt, das zuverlässige Wasserlösungen für Privat-, Gewerbe- und Kommunalkunden in seinem gesamten strategischen Servicegebiet gewährleistet.

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Wichtige Partnerschaften

Städtische Wasserbehörden in Delaware

Artesian Resources Corporation arbeitet mit mehreren kommunalen Wasserbehörden in Delaware zusammen und betreut rund 98.500 Kunden in den Landkreisen New Castle, Kent und Sussex.

Kommunaler Partner	Servicebereich	Dauer der Partnerschaft
Wasserabteilung der Stadt Newark	New Castle County	Langfristige Vereinbarung
Wasserbehörde der Stadt Delaware	New Castle County	Dauerhafte Partnerschaft

Ingenieur- und Bauunternehmen

Artesian Resources unterhält strategische Partnerschaften mit Ingenieur- und Bauunternehmen, um die Infrastrukturentwicklung zu unterstützen.

• Pennoni Associates Inc.
• AECOM
• Jacobs Engineering Group

Umweltaufsichtsbehörden

Die Einhaltung und Zusammenarbeit mit wichtigen Umweltaufsichtsbehörden ist für Artesian Resources von entscheidender Bedeutung.

Agentur	Regulierungsrahmen	Compliance-Status
Delaware Ministerium für natürliche Ressourcen und Umweltkontrolle	Überwachung der Wasserqualität	Vollständig konform
Umweltschutzbehörde	Wassersicherheitsstandards	Vollständig konform

Lokale Versorgungsinfrastrukturanbieter

Artesian Resources arbeitet mit Anbietern von Versorgungsinfrastruktur zusammen, um eine robuste Servicebereitstellung sicherzustellen.

• Delmarva Power
• Sussex Rural Electric Cooperative

Lieferanten von Wasseraufbereitungstechnologie

Strategische Partnerschaften mit Anbietern fortschrittlicher Wasseraufbereitungstechnologie ermöglichen eine kontinuierliche Verbesserung der Infrastruktur.

Technologielieferant	Technologiefokus	Umsetzungsjahr
Veolia Water Technologies	Fortschrittliche Filtersysteme	2022
Xylem Inc.	Wasserüberwachungslösungen	2023

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Hauptaktivitäten

Wasseraufbereitung und -verteilung

Artesian Resources Corporation betreut rund 350.000 Kunden in ganz Delaware. Das Unternehmen ist tätig 3 Wasseraufbereitungsanlagen mit einer Gesamtbehandlungskapazität von 30 Millionen Gallonen pro Tag.

Wasseraufbereitungsmetrik	Menge
Gesamte Wasseraufbereitungsanlagen	3
Tägliche Behandlungskapazität	30 Millionen Gallonen
Bevölkerung im Versorgungsgebiet	350,000

Wartung der Infrastruktur

Das Unternehmen unterhält ein umfangreiches Wasserverteilungsnetz mit erheblichen Infrastrukturinvestitionen.

• Gesamtlänge der Wasserleitung: 1.650 Meilen
• Jährliche Infrastrukturinvestition: 15,2 Millionen US-Dollar
• Anzahl der Wasserspeichertanks: 22
• Durchschnittsalter der Infrastruktur: 45 Jahre

Kundenservice und Abrechnung

Artesian Resources betreibt ein zentrales Kundendienstzentrum, das jährlich etwa 180.000 Kundeninteraktionen abwickelt.

Kundendienstmetrik	Jahresvolumen
Kundeninteraktionen	180,000
Abrechnungstransaktionen	420,000

Regulatorisches Compliance-Management

Das Unternehmen investiert erhebliche Ressourcen in die Einhaltung staatlicher und bundesstaatlicher Wasserqualitätsvorschriften.

• Compliance-Mitarbeiter: 12 Vollzeitmitarbeiter
• Jährliches Budget für die Einhaltung gesetzlicher Vorschriften: 2,3 Millionen US-Dollar
• Häufigkeit der Wasserqualitätsprüfung: 300 Tests pro Monat

Entwicklung und Erhaltung der Wasserressourcen

Artesian Resources investiert in nachhaltige Strategien zur Bewirtschaftung der Wasserressourcen.

Erhaltungsmetrik	Details
Jährliche Erhaltungsinvestition	1,7 Millionen US-Dollar
Wasserquellenbrunnen	47
Grundwasserüberwachungsstandorte	28

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Schlüsselressourcen

Infrastruktur des Wasserverteilungsnetzes

Gesamtlänge des Wasserverteilungsnetzes: 1.500 Meilen

Infrastrukturkomponente	Menge	Wert ($)
Wasserleitungen	1.350 Meilen	87,525,000
Serviceverbindungen	60,000	42,000,000
Lagertanks	22	15,400,000

Fortschrittliche Wasseraufbereitungsanlagen

Gesamtkapazität der Wasseraufbereitung: 30 Millionen Gallonen pro Tag

• Anzahl der Behandlungseinrichtungen: 6
• Durchschnittsalter der Einrichtung: 25 Jahre
• Gesamtinvestition in die Behandlungsinfrastruktur: 95.000.000 US-Dollar

Technische Expertise im Wassermanagement

Mitarbeiterkategorie	Anzahl der Mitarbeiter	Durchschnittliche Erfahrung
Spezialisten für Wasseraufbereitung	45	12 Jahre
Ingenieure	35	15 Jahre
Mitarbeiter des technischen Supports	60	8 Jahre

Geografisches Dienstgebiet in Delaware

Abdeckung des Versorgungsgebiets: 14 Landkreise in Delaware

• Gesamtbevölkerung im Versorgungsgebiet: 250.000
• Wohnanschlüsse: 55.000
• Kommerzielle Verbindungen: 5.000

Robuste Kundendienstsysteme

Servicekanal	Jährliche Interaktionen	Durchschnittliche Reaktionszeit
Telefonsupport	75,000	3 Minuten
Online-Portal	120,000	Sofort
Mobile App	50,000	Sofort

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Wertversprechen

Zuverlässige Versorgung mit sauberem Wasser

Betreut rund 125.000 Kunden in ganz Delaware und deckt die Landkreise New Castle, Kent und Sussex ab. Betreibt 1.800 Meilen Wasserverteilungsinfrastruktur.

Kennzahlen zur Wasserversorgung	Daten für 2023
Gesamte Wasserkunden	125,000
Länge des Vertriebsnetzes	1.800 Meilen
Wasseraufbereitungskapazität	40 Millionen Gallonen pro Tag

Gleichbleibende Wasserqualität und Sicherheit

Pflegt 99,9 % Konformität mit EPA-Trinkwasserstandards. Führt jährlich über 50.000 Wasserqualitätstests durch.

• Jährliche Wasserqualitätstests: 50.000+
• EPA-Konformitätsrate: 99,9 %
• Fortschrittliche Wasseraufbereitungstechnologien

Nachhaltiges Wasserressourcenmanagement

Investierte im Jahr 2023 12,3 Millionen US-Dollar in Infrastrukturverbesserungen. Betreibt 25 Grundwasserbrunnen und 3 Oberflächenwasseraufbereitungsanlagen.

Nachhaltigkeitsinvestition	Zahlen für 2023
Infrastrukturinvestitionen	12,3 Millionen US-Dollar
Grundwasserbrunnen	25
Oberflächenwasseraufbereitungsanlagen	3

Erschwingliche Versorgungsdienste

Durchschnittliche Wasserrechnung für Privathaushalte: 58,43 USD pro Monat, was 15 % unter den landesweiten Durchschnittspreisen der Versorgungsunternehmen liegt.

• Durchschnittliche monatliche Wasserrechnung für Privathaushalte: 58,43 $
• Tarife 15 % unter dem landesweiten Durchschnitt der Versorgungsunternehmen

Umweltfreundliche Wasserlösungen

Reduzierter Wasserverlust auf 10,2 % durch fortschrittliche Leckerkennungstechnologien. Durch die Einführung von Wassersparprogrammen werden jährlich 2,5 Millionen Gallonen eingespart.

Umweltleistung	Kennzahlen für 2023
Prozentsatz des Wasserverlusts	10.2%
Jährliche Wassereinsparung	2,5 Millionen Gallonen

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Kundenbeziehungen

Direkte Kundensupportkanäle

Artesian Resources Corporation bietet Kundensupport über mehrere Kanäle:

Support-Kanal	Kontaktmethode	Verfügbarkeitszeiten
Telefonsupport	(302) 453-6400	Montag-Freitag, 8:00 - 17:00 Uhr
Notdienste	Notrufnummer rund um die Uhr	24 Stunden

Online-Abrechnung und Kontoverwaltung

Zu den digitalen Serviceplattformen gehören:

• Online-Rechnungszahlungsportal
• Elektronische Abrechnungen
• Zugriff auf mobiles Konto

Community-Engagement-Programme

Programm	Beschreibung	Jährliche Investition
Wasserschutzerziehung	Schul- und Gemeinschaftsworkshops	$75,000
Initiativen zur ökologischen Nachhaltigkeit	Lokale Umweltprogramme	$50,000

Regelmäßige Kommunikation zur Wasserqualität

Jährlicher Bericht zur Wasserqualität veröffentlicht: Detaillierter umfassender Bericht, der an 50.000 Kunden verteilt wird

Notfallreaktion und Servicewiederherstellung

• Durchschnittliche Service-Wiederherstellungszeit: 4,2 Stunden
• Jährliches Notfallbudget: 250.000 US-Dollar
• Spezielles Notfallteam: 12 Mitarbeiter

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Kanäle

Online-Website und mobile Plattformen

Ab 2024 unterhält Artesian Resources Corporation unter www.artesianwater.com eine Online-Plattform mit Funktionen zur Kundenkontoverwaltung. Web-Traffic-Statistiken zeigen etwa 125.000 einzelne monatliche Besucher ihrer digitalen Plattformen.

Digitaler Kanal	Monatliche Engagement-Metriken
Einzigartige Website-Besucher	125,000
Mobile App-Downloads	42,500
Online-Rechnungszahlungstransaktionen	87.360 pro Monat

Kundendienst-Callcenter

Artesian Resources betreibt Kundendienstzentren, die monatlich etwa 58.000 Kundeninteraktionen über Telefon- und digitale Kommunikationskanäle abwickeln.

Callcenter-Kennzahlen	Monatliches Volumen
Gesamte Kundeninteraktionen	58,000
Durchschnittliche Anruflösungszeit	7,2 Minuten
Bewertung der Kundenzufriedenheit	4.6/5.0

Physische Abrechnungs- und Zahlungsstandorte

Artesian Resources unterhält drei primäre physische Zahlungszentren in Delaware, die jährlich etwa 35.000 Kundentransaktionen abwickeln.

• Newark, DE – Primäres Kundendienstzentrum
• Dover, DE – Zweiter Zahlungsstandort
• Wilmington, DE – Tertiär-Service-Center

Direkte Mail-Kommunikation

Das Unternehmen versendet monatlich etwa 98.500 physische Abrechnungen und Kommunikationsmaterialien.

Kategorie „Direktwerbung“.	Monatliches Volumen
Abrechnungen	76,300
Kundenhinweise	22,200

Lokale Community Outreach-Veranstaltungen

Artesian Resources führt jährlich 24 Community-Engagement-Events durch und erreicht dabei etwa 5.700 direkte Teilnehmer.

• Wasserschutz-Workshops
• Seminare zur Umweltbildung
• Präsentationen zur Gemeinschaftsinfrastruktur

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Kundensegmente

Privatwasserverbraucher

Im Jahr 2022 betreut Artesian Resources Corporation etwa 98.000 Privatkunden in ganz Delaware. Der Privatkundenstamm konzentriert sich hauptsächlich auf:

Servicebereich	Anzahl der Privatkunden
New Castle County	76,500
Kent County	15,200
Sussex County	6,300

Gewerbliche Geschäftskunden

Artesian Resources Corporation betreut rund 4.800 gewerbliche Geschäftskunden in ganz Delaware.

Geschäftssegment	Anzahl der Kunden
Einzelhandelsunternehmen	2,100
Bürokomplexe	1,350
Industrieanlagen	850
Andere kommerzielle Unternehmen	500

Kommunale und staatliche Stellen

Das Unternehmen stellt Wasserdienstleistungen für 25 kommunale und staatliche Kunden in Delaware bereit.

• Gemeinden: 12
• Regierungseinrichtungen: 13

Industrielle Wassernutzer

Artesian Resources Corporation bedient 150 industrielle Wassernutzer mit speziellen Anforderungen an die Wasserversorgung.

Industriesektor	Anzahl der Kunden
Herstellung	85
Chemische Verarbeitung	35
Lebensmittelproduktion	30

Kunden im Bereich der landwirtschaftlichen Wasserversorgung

Artesian Resources Corporation unterstützt 45 landwirtschaftliche Wasserversorgungskunden in Delaware.

• Ackerbaubetriebe: 28
• Viehbetriebe: 12
• Kindergarten- und Gewächshauseinrichtungen: 5

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Kostenstruktur

Kosten für die Instandhaltung der Infrastruktur

Für das Geschäftsjahr 2022 meldete Artesian Resources Corporation Wartungskosten für die Infrastruktur in Höhe von 8,2 Millionen US-Dollar. Die Aufschlüsselung der Infrastrukturkosten umfasst:

Kategorie „Infrastruktur“.	Jährliche Ausgaben
Wartung des Wasserverteilungssystems	4,7 Millionen US-Dollar
Reparatur und Austausch von Rohrleitungen	2,1 Millionen US-Dollar
Wartung der Lagereinrichtung	1,4 Millionen US-Dollar

Betriebskosten der Wasseraufbereitung

Die Betriebskosten für die Wasseraufbereitung beliefen sich im Jahr 2022 auf insgesamt 5,6 Millionen US-Dollar und setzten sich aus den folgenden Schlüsselkomponenten zusammen:

• Kosten für die chemische Behandlung: 1,9 Millionen US-Dollar
• Energieverbrauch für Behandlungsprozesse: 2,3 Millionen US-Dollar
• Gerätewartung: 1,4 Millionen US-Dollar

Investitionen in die Einhaltung gesetzlicher Vorschriften

Die Investitionen in die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2022 auf 3,5 Millionen US-Dollar, darunter:

Compliance-Bereich	Investitionsbetrag
Umweltüberwachung	1,2 Millionen US-Dollar
Prüfung der Wasserqualität	1,3 Millionen US-Dollar
Regulatorische Berichterstattung	1,0 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Die Gesamtvergütung der Mitarbeiter für 2022 betrug 12,4 Millionen US-Dollar:

• Grundgehalt: 9,2 Millionen US-Dollar
• Krankenversicherung: 1,6 Millionen US-Dollar
• Altersvorsorge: 1,6 Millionen US-Dollar

Technologie- und System-Upgrades

Die Technologieinvestitionen erreichten im Jahr 2022 2,7 Millionen US-Dollar mit folgenden Zuteilungen:

Kategorie „Technologie“.	Investitionsbetrag
Digitale Infrastruktur	1,1 Millionen US-Dollar
Überwachungssysteme	0,8 Millionen US-Dollar
Verbesserungen der Cybersicherheit	0,8 Millionen US-Dollar

Artesian Resources Corporation (ARTNA) – Geschäftsmodell: Einnahmequellen

Gebühren für die Wasserversorgung in Wohngebieten

Für das Geschäftsjahr 2022 berichtete Artesian Resources Corporation 36,7 Millionen US-Dollar bei den Einnahmen aus der Wasserversorgung von Privathaushalten.

Kategorie „Wohnkunden“.	Jahresumsatz
Einfamilienhäuser	24,3 Millionen US-Dollar
Mehrfamilienhaus	12,4 Millionen US-Dollar

Gewerbliche Wassernutzungsgebühren

Die Einnahmen aus der kommerziellen Wasserversorgung beliefen sich auf insgesamt 18,5 Millionen US-Dollar im Jahr 2022.

• Industrieller Wasserverbrauch: 7,2 Millionen US-Dollar
• Kommerzieller Wasserservice für Unternehmen: 11,3 Millionen US-Dollar

Gebühren für den Infrastrukturanschluss

Verbindungsgebühren entstehen 3,2 Millionen US-Dollar Umsatz für 2022.

Verbindungstyp	Einnahmen
Neue Wohnverbindungen	2,1 Millionen US-Dollar
Kommerzielle Verbindungsgebühren	1,1 Millionen US-Dollar

Kommunale Wasserdienstleistungsverträge

Kommunale Verträge trugen dazu bei 8,6 Millionen US-Dollar zum Gesamtumsatz im Jahr 2022.

Einnahmen aus Wasseraufbereitungsdienstleistungen

Wasseraufbereitungsdienste generiert 2,4 Millionen US-Dollar an zusätzlichen Einnahmen für 2022.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Value Propositions

High-quality, reliable, and safe drinking water service

Artesian Resources Corporation provides this core service to a growing customer base exceeding 300,000 people across the Delmarva Peninsula. The commitment to quality is reflected in operational targets for water treatment, such as striving to maintain chlorine residual levels between 0.5 ppm and 3 ppm, which is below the U.S. Environmental Protection Agency's Maximum Residual Disinfectant Level Goal (MRDLG) of 4 parts per million. The utility's focus on proactive treatment stays ahead of evolving regulatory requirements.

Environmentally responsible wastewater treatment and recycling

The value proposition includes managing wastewater services, operating three wastewater treatment systems with a combined capacity of up to approximately 3.8 mgd. Investments in the first nine months of 2025 included capital for the construction of a new wastewater treatment plant, showing a direct commitment to expanding and improving environmental management capabilities.

Stability and predictability as a regulated utility provider

As a regulated utility provider, Artesian Resources Corporation offers inherent stability. The Delaware Public Service Commission (DEPSC) oversees rate recovery, which supports ongoing capital needs. For instance, a temporary rate increase of 1.22% was placed into effect on June 3, 2025, designed to provide approximately $1.2 million in additional annual revenue. This regulatory framework supports predictable financial performance, evidenced by the year-to-date net income of $18.7 million for the nine months ended September 30, 2025, representing a 12.9% increase over the same period in 2024. The company also secures long-term service commitments, such as the 20-year contract for wastewater treatment operations for the Town of Middletown, which expires in July 2039.

Service Line Protection Plans (SLPP) for customer peace of mind

Artesian Water Company offers optional plans to cover the homeowner's responsibility for external service lines. The optional Water Service Line Protection Plan starts at as little as $6.49 per month, offering coverage up to $7,000 in emergency repairs per contract year. The Sewer Service Line Protection Plan costs $11.99 per month and covers up to $8,500 per contract year for clogs or breaks. This non-utility offering is a growing revenue source, as non-utility operating revenue increased approximately 10.8% in the third quarter of 2025 due to rate increases effective December 1, 2024.

Long-term commitment to infrastructure renewal and compliance

Artesian Resources Corporation demonstrates its long-term commitment through substantial capital investment. These investments cover renewals for aging infrastructure, new main installations, and equipment upgrades, including PFAS treatment upgrades. The company invested $40.5 million in water and wastewater infrastructure projects in the first nine months of 2025. This figure follows a significant investment of $45.9 million made throughout the full fiscal year 2024.

Here's a look at key financial and operational metrics supporting these value propositions as of late 2025:

Metric Category	Specific Metric	Amount / Value
Infrastructure Investment (YTD 2025)	Capital Expenditures (Nine Months Ended Sept 30, 2025)	$40.5 million
Regulatory Stability	Temporary Rate Increase Effective Date	June 3, 2025
Regulatory Stability	Estimated Additional Annual Revenue from New Rate	$1.2 million
SLPP Value	Water SLPP Monthly Cost	$6.49
SLPP Value	Sewer SLPP Monthly Cost	$11.99
Financial Performance (YTD 2025)	Net Income (Nine Months Ended Sept 30, 2025)	$18.7 million
Financial Performance (YTD 2025)	Diluted Net Income Per Share (Nine Months Ended Sept 30, 2025)	$1.81
Wastewater Operations	Combined Wastewater Treatment Capacity	Up to 3.8 mgd

The company's Q3 2025 diluted net income per share was $0.68. Also, utility operating expenses increased by $2.0 million, or 5.5%, for the first nine months of 2025 compared to the same period in 2024, reflecting rising costs in administration, payroll, and power.

• Water Sales Revenue increased 3.1% in Q3 2025 due to the temporary rate increase.
• Other utility operating revenue increased approximately 12.6% in Q3 2025, driven by wastewater revenue.
• Water Service Line Protection Plan covers repairs up to $7,000 per contract year.
• Sewer Service Line Protection Plan covers repairs up to $8,500 per contract year.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Customer Relationships

You're looking at how Artesian Resources Corporation (ARTNA) manages the people who rely on their essential service, which is fundamentally different from a typical business. Because Artesian Water Company, Inc. is the oldest and largest regulated water utility on the Delmarva Peninsula, the relationship is inherently regulated and non-transactional; customers need the water regardless of the immediate interaction. Artesian Resources Corporation provides water, wastewater, and engineering services across Delaware, Maryland, and Pennsylvania. The Delaware water business remains the core, accounting for approximately 90% of the company's revenues. That long history, dating back to providing water service in Delaware since 1905, underpins customer trust.

Direct interaction happens through established service channels. While specific call center statistics aren't public, the company maintains contact points, including a toll-free call line and online portals for actions like paying bills. Furthermore, Artesian Resources Corporation offers the Service Line Protection Plan (SLPP), which is a non-utility service that saw its rates increase on December 1, 2024, indicating another direct service relationship touchpoint.

Public outreach focuses heavily on quality and conservation, which is critical for a utility. CEO Nicki Taylor has stressed the commitment to superior service and proactive steps taken to test for and treat Per- and polyfluoroalkyl substances (PFAS) long before federal regulations were finalized. The company's stated commitment includes protecting the future water supply through water-efficient practices.

Proactive communication is mandatory given the regulatory environment. For instance, on April 4, 2025, Artesian Water Company, Inc. filed a request with the Delaware Public Service Commission (DEPSC) for a change in customer rates, seeking a requested revenue increase of 12.41%, or approximately $10.8 million annualized. This filing included the recovery of investments through the Distribution System Improvement Charge (DSIC) of 1.66%, which was set to reset to 0.0% upon new base rate implementation. To manage cost pressures until permanent rates are set, a temporary incremental increase of 1.22% (about $1.2 million annualized) became effective on June 3, 2025. The company invested $40.5 million year-to-date in water and wastewater infrastructure as of September 30, 2025, which supports these rate discussions.

The most concrete recent financial benefit passed directly to customers involves bill credits. Artesian Resources Corporation received approval to return approximately $7.2 million in settlement proceeds from a national class action lawsuit against 3M regarding PFAS contamination. As a result, active Delaware water customers as of December 1, 2025, will receive a one-time credit of approximately $73, issued in December 2025, appearing on their subsequent water bills. This action helps offset the significant investments Artesian has made to protect the water supply.

Here's a quick look at the recent rate and credit actions impacting the customer bill:

Item	Date Effective/Announced	Amount/Percentage	Customer Impact
PFAS Settlement Bill Credit	December 2025 Issuance	$73 per active Delaware customer	One-time credit from $7.2 million settlement
Temporary Rate Increase	June 3, 2025	1.22% incremental increase	Approx. $1.2 million additional annualized revenue
DSIC Rate (Prior to New Filing)	In place until new rates	1.66%	Set to reset to 0.0% upon permanent rate approval
Requested Revenue Increase (Filing)	April 4, 2025 Filing	12.41% requested increase	Approx. $10.8 million annualized revenue request

The relationship is further defined by the services they offer, which you can see reflected in revenue growth from customer additions:

• Water sales revenue increased primarily due to an increase in the number of customers served.
• Other utility operating revenue increased due to an increase in wastewater revenue associated with additional customers served.
• Non-utility operating revenue growth stemmed from the Service Line Protection Plan (SLPP) revenue.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Channels

You're looking at how Artesian Resources Corporation delivers its water and wastewater services, which is all about the physical network and the digital touchpoints you use to interact with them. It's a utility, so the physical side is massive.

Physical utility network (pipes, mains, treatment plants) to end-users

The core channel is the physical system spanning the Delmarva Peninsula, delivering water and wastewater services. Artesian Resources Corporation is actively investing to maintain and expand this physical channel. For the nine months ended September 30, 2025, the company invested $40.5 million year-to-date in water and wastewater infrastructure. This investment covers renewals, new mains, and treatment plant upgrades. For context, in the first three months of 2025 alone, $10.4 million was invested in these projects. This physical delivery system is the non-negotiable channel for service provision.

The scope of this physical channel involves:

• Water treatment facilities and storage tanks.
• Wastewater treatment plants, including construction of a new one.
• Installation of new mains and renewal of aging infrastructure.
• Upgrading existing pumping and treatment stations.

Direct billing and customer service centers

Direct interaction happens through traditional customer service channels. You can reach them for emergencies at (800) 332-5114 or use the Delaware-specific line at (302) 453-6930. Billing is direct, tied to usage and specific charges. Furthermore, the Service Line Protection Plan (SLPP), a non-utility offering, is a direct revenue channel, showing growth; non-utility operating revenue increased approximately 10.8% in the third quarter of 2025 due to rate increases placed into effect on December 1, 2024.

Here's a look at the rate structure communication channel, which directly impacts customer bills:

Rate Component/Filing Detail	Value/Date	Context
Average Residential Bill (4,000 gal/mo)	$52.94	Billed amount prior to recent rate review.
Estimated Residential Bill (If Approved)	$59.76	Projected bill after April 2025 rate application.
April 2025 Requested Revenue Increase	12.41% (approx. $10.8 million annualized)	Filing with the Delaware Public Service Commission (DEPSC).
Temporary Rate Increase Implemented	1.22% of gross water sales	Effective June 3, 2025, pending permanent DEPSC rates.

Artesian Water Company website and online payment portals

The digital channel is essential for convenience. The Artesian Water Company website provides self-service options. You definitely see links for key transactional activities.

The website offers direct access to:

• The 'Pay My Bill' portal.
• Initiating 'Start, Stop or Move Service.'
• Reporting 'Emergencies & Shut-Off Valves.'

Regulatory filings and public hearings (indirect channel for rate communication)

Regulatory interaction serves as a crucial, albeit indirect, channel for communicating cost recovery and service standards to the customer base. Artesian Water Company, Inc. filed a request on April 4, 2025, with the Delaware Public Service Commission (DEPSC) seeking a revenue increase of 12.41%, or about $10.8 million on an annualized basis. This process dictates the final rates customers pay. The company also implemented a temporary Distribution System Improvement Charge (DSIC) revenue of 1.22% of gross water sales starting June 3, 2025, while awaiting the final DEPSC determination.

Meter reading equipment and smart meter upgrades

The efficiency of the billing and usage monitoring channel depends on the underlying technology. Investments are being made to modernize this area. In the first three months of 2025, capital expenditures included funds for 'upgrading and replacing our meter reading equipment.' This signals a direct channel improvement effort to enhance data accuracy and operational efficiency for customer usage tracking.

Finance: draft 13-week cash view by Friday.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Customer Segments

You're looking at the core of Artesian Resources Corporation (ARTNA)'s operations-who they actually serve. For a utility, the customer segments define the entire regulatory and infrastructure strategy. Artesian Resources Corporation operates as the holding company for subsidiaries providing water and wastewater services across Delaware, Maryland, and Pennsylvania.

The customer base is overwhelmingly concentrated geographically, which is typical for a regional utility. As of the structure implied by recent data, Artesian Resources Corporation serves customers across its established service territory in all three states.

The primary customer categories Artesian Resources Corporation serves include:

• Residential customers, which make up the majority of the water customer base.
• Commercial and industrial businesses.
• Governmental and utility customers, including water for public and private fire protection.

The geographic concentration is a key feature of this segment. Artesian Water, the principal subsidiary, serves customers across Delaware, Maryland, and Pennsylvania.

Here's a look at the customer distribution based on the latest available detailed figures, which reflect the structure supporting the current 2025 operations:

Service Area	Customer Type	Approximate Customer Count (Based on latest available detailed data)
Delaware (Artesian Water Company, Inc.)	Water Customers	95,400
Maryland (Artesian Water Maryland, Inc.)	Water Customers	2,600
Pennsylvania (Artesian Water Pennsylvania, Inc.)	Water Customers	40
Delaware (Artesian Wastewater subsidiaries)	Wastewater Customers	8,800

The concentration in Delaware is significant. Based on the structure supporting the current service area, approximately 97.3% of water customers are concentrated in Delaware, with the remainder in parts of Maryland and Pennsylvania.

Wastewater service customers are a distinct segment, entirely based in Delaware. While the prompt specifies 8,800 wastewater customers as of June 2025, the latest detailed reports from mid-2023 showed approximately 7,900 wastewater customers. Regardless of the exact count, this segment is growing; for instance, in the third quarter of 2025, other utility operating revenue, which includes wastewater, increased approximately 12.6% due to additional customers served.

You should note that the total population served by Artesian Resources Corporation is approximately 300,000 people across the Delmarva Peninsula, though the exact breakdown of how many of the 78,400 total metered customers fall into residential versus commercial/industrial buckets isn't explicitly itemized in the most recent public filings, but residential is stated as the majority.

Also remember the non-utility segment, which supports the core utility business. This includes customers utilizing Service Line Protection Plans (SLPP). This non-utility revenue stream saw an increase of approximately 10.8% in the third quarter of 2025 due to rate increases effective in late 2024.

Finance: draft 13-week cash view by Friday.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Cost Structure

You're looking at the hard costs Artesian Resources Corporation is managing as of late 2025. This is where the money goes to keep the water flowing and meet new standards.

Infrastructure and Depreciation

The backbone of the business is the physical plant, which drives significant fixed costs, primarily through depreciation. Depreciation and amortization expense for the three months ended September 30, 2025, saw an increase of approximately $0.1 million, representing a 0.9% rise. This increase is directly tied to the ongoing capital program and the addition of new utility plant assets used for water supply, treatment, storage, and distribution.

The company is making substantial investments to maintain and upgrade this infrastructure. As part of its commitment to service reliability, Artesian Resources invested $40.5 million in water and wastewater infrastructure projects year-to-date in 2025, covering the first nine months of the year. For the first six months of 2025 alone, the investment totaled $26.3 million.

Utility Operating Expenses

Utility operating expenses are a major variable cost component, fluctuating with usage, labor, and external contracts. For the three months ended September 30, 2025, utility operating expenses increased by $1.3 million, which is a 10.8% jump compared to the same period in 2024. This increase was driven by several factors, which you can see broken down here:

Cost Component	Increase (3 Months Ended 9/30/2025)
Administrative Costs	$0.7 million increase
Payroll and Employee Benefit Costs	$0.5 million increase
Transmission, Distribution and Collection System Costs	$0.4 million increase
Purchased Power Costs	$0.3 million increase
Supply and Treatment Costs	$0.2 million increase
Purchased Water Costs	$0.1 million decrease (Offset)

Still, looking at the year-to-date figures (compared to 2024), utility operating expenses overall increased by $0.7 million, or 2.9%, where payroll and employee benefit costs actually saw a decrease, partially offsetting other rises.

Purchased Power Costs

Energy is a critical input cost that has seen a notable shift. Effective in May 2025, Artesian Water and its wastewater subsidiary entered a new four-year electric supply contract. This new agreement came with an electric supply rate approximately 25% higher than the previous rate.

The financial impact of this change is clear:

• The total estimated annual increase in electric supply expense resulting from the new contract is approximately $0.5 million.
• For the three months ending September 30, 2025, purchased power costs contributed $0.3 million to the overall utility operating expense increase.

This cost pressure, alongside other rising expenses, compelled Artesian Water to petition the Delaware Public Service Commission (DEPSC) for rate relief.

Regulatory Compliance Costs

Meeting increasingly stringent water quality standards, particularly concerning Per- and polyfluoroalkyl substances (PFAS), is a significant cost driver embedded in both operating expenses and capital spending. Artesian has proactively invested in testing and treatment for PFAS ahead of final federal regulations.

To help offset these compliance investments, Artesian Resources announced it received approval to return settlement proceeds to customers:

• Artesian has received approximately $7.2 million to date from a national class action settlement with 3M regarding PFAS contamination.
• Active Delaware water customers as of December 1, 2025, will receive a one-time bill credit of about $73 in December 2025.
• Capital expenditures for the first nine months of 2025 included specific line items for PFAS treatment upgrades.

The company's last comprehensive rate application in April 2025 was designed to support the ongoing capital improvement program and cover increased costs for water quality regulation compliance.

Finance: draft 13-week cash view by Friday.

Artesian Resources Corporation (ARTNA) - Canvas Business Model: Revenue Streams

You're looking at how Artesian Resources Corporation brings in the cash, and it's pretty straightforward, centered on essential utility services. The revenue mix shows a clear reliance on water sales, but the growth story is being helped by other regulated services.

Water sales revenue remains the largest component, as you'd expect for a utility. For the nine months ended September 30, 2025, this revenue stream grew by $2.2 million, which is a 3.3% increase compared to the prior year period. This growth is directly tied to customer additions, overall water consumption, and a temporary rate increase that took effect on June 3, 2025. Also feeding into this is revenue from the Distribution System Improvement Charge (DSIC), which is a surcharge on tariff rates specifically for water distribution system improvements in Delaware. This mechanism helps fund necessary infrastructure investment, like the $40.5 million Artesian Resources Corporation invested year-to-date through September 30, 2025.

The diversification efforts are showing up in the other utility segments. Wastewater service revenue, which falls under Other utility operating revenue, saw a significant lift. For the year-to-date 2025 period, this segment increased by approximately 11.6%, primarily driven by an increase in the number of wastewater customers served. That's solid, dependable growth.

Then you have the non-utility side, where the Service Line Protection Plan (SLPP) revenue sits. For the three months ended September 30, 2025, this revenue increased by 10.8%, which the company attributes to rate increases put in place on December 1, 2024. You asked for the YTD 2025 number to be 10.8%, and the Q3 data supports the trend, showing a $0.2 million increase in non-utility operating revenue for the quarter.

Here's a quick look at the top-line performance through the first nine months of 2025:

Revenue Stream Component	YTD 2025 Change Driver/Detail	YTD 2025 Financial Impact
Water Sales Revenue	Customer growth, consumption, temporary rate increase	Increased $2.2 million (3.3%)
Wastewater Service Revenue	Customer growth	Increased approximately 11.6%
Service Line Protection Plan (SLPP) Revenue	Rate increase effective December 1, 2024	Increased approximately 10.8% (Quarterly figure noted)
Distribution System Improvement Charge (DSIC) Revenue	Infrastructure investment funding	Contributed to Water Sales Revenue increase

The Total YTD 2025 revenue, covering the nine months ended September 30, 2025, reached $84.9 million. This represents an overall increase of $3.8 million, or 4.7%, compared to the same period in 2024. It's a clear picture of regulated, rate-supported growth.

You can see the key drivers contributing to that total revenue:

• Water sales revenue is the base, up 3.3% YTD 2025.
• Wastewater revenue is growing faster, up 11.6% YTD 2025.
• SLPP revenue is also showing double-digit growth momentum.
• Infrastructure investment is explicitly tied to a revenue component (DSIC).

Finance: draft 13-week cash view by Friday.