Artesian Resources Corporation (ARTNA): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo do gerenciamento de utilidades de água com a Artesian Resources Corporation (ARTNA), um provedor de serviços de água baseado em Delaware que transforma a infraestrutura complexa e as necessidades da comunidade em um sistema de fornecimento de água contínuo e sustentável. Ao equilibrar meticulosamente a inovação tecnológica, a conformidade regulatória e os serviços centrados no cliente, a Artna criou um modelo de negócios sofisticado que garante soluções de água confiáveis ​​para clientes residenciais, comerciais e municipais em seu território de serviço estratégico.

A Artesian Resources Corporation (ARTNA) - Modelo de Negócios: Principais Parcerias

Autoridades municipais de água em Delaware

A Artesian Resources Corporation colabora com várias autoridades municipais de água em Delaware, atendendo a aproximadamente 98.500 clientes em novos condados de Castle, Kent e Sussex.

Parceiro municipal	Área de serviço	Duração da parceria
Departamento de Água da Cidade de Newark	New Castle County	Acordo de longo prazo
Autoridade de água da cidade de Delaware	New Castle County	Parceria em andamento

Empresas de engenharia e construção

Os recursos artesianos mantêm parcerias estratégicas com empresas de engenharia e construção para apoiar o desenvolvimento de infraestrutura.

• Pennoni Associates Inc.
• Aecom
• Jacobs Engineering Group

Agências regulatórias ambientais

A conformidade e a colaboração com os principais órgãos regulatórios ambientais são críticos para os recursos artesianos.

Agência	Escopo regulatório	Status de conformidade
Departamento de Recursos Naturais de Delaware e Controle Ambiental	Monitoramento da qualidade da água	Totalmente compatível
Agência de Proteção Ambiental	Padrões de segurança da água	Totalmente compatível

Provedores de infraestrutura de utilidade local

A Artesian Resources colabora com os provedores de infraestrutura de utilidade para garantir uma prestação de serviços robustos.

• Delmarva Power
• Cooperativa elétrica rural de Sussex

Fornecedores de tecnologia de tratamento de água

Parcerias estratégicas com fornecedores avançados de tecnologia de tratamento de água permitem a melhoria contínua da infraestrutura.

Fornecedor de tecnologia	Foco em tecnologia	Ano de implementação
VEOLIA TECHNOLOGIAS DE ÁGUA	Sistemas de filtragem avançados	2022
Xylem Inc.	Soluções de monitoramento de água	2023

Artesian Resources Corporation (ARTNA) - Modelo de negócios: Atividades -chave

Tratamento e distribuição de água

A Artesian Resources Corporation atende aproximadamente 350.000 clientes em Delaware. A empresa opera 3 instalações de tratamento de água com uma capacidade total de tratamento de 30 milhões de galões por dia.

Métrica de tratamento de água	Quantidade
Instalações totais de tratamento de água	3
Capacidade diária de tratamento	30 milhões de galões
População da área de serviço	350,000

Manutenção de infraestrutura

A empresa mantém uma extensa rede de distribuição de água com investimentos significativos de infraestrutura.

• Comprimento principal da água total: 1.650 milhas
• Investimento anual de infraestrutura: US $ 15,2 milhões
• Número de tanques de armazenamento de água: 22
• Idade média de infraestrutura: 45 anos

Atendimento ao cliente e cobrança

A Artesian Resources opera um centro de atendimento ao cliente centralizado que lida com aproximadamente 180.000 interações anuais de clientes.

Métrica de atendimento ao cliente	Volume anual
Interações com o cliente	180,000
Transações de cobrança	420,000

Gerenciamento de conformidade regulatória

A Companhia dedica recursos significativos para atender aos regulamentos estaduais e federais da qualidade da água.

• Equipe de conformidade: 12 profissionais em tempo integral
• Orçamento anual de conformidade regulatória: US $ 2,3 milhões
• Frequência de teste de qualidade da água: 300 testes por mês

Desenvolvimento e conservação de recursos hídricos

A Artesian Resources investe em estratégias sustentáveis ​​de gerenciamento de recursos hídricos.

Métrica de conservação	Detalhes
Investimento anual de conservação	US $ 1,7 milhão
Poços de fonte de água	47
Locais de monitoramento das águas subterrâneas	28

Artesian Resources Corporation (ARTNA) - Modelo de negócios: Recursos -chave

Infraestrutura de rede de distribuição de água

Rede total de distribuição de água Comprimento: 1.500 milhas

Componente de infraestrutura	Quantidade	Valor ($)
Rede de água	1.350 milhas	87,525,000
Conexões de serviço	60,000	42,000,000
Tanques de armazenamento	22	15,400,000

Instalações avançadas de tratamento de água

Capacidade total de tratamento de água: 30 milhões de galões por dia

• Número de instalações de tratamento: 6
• Idade média da instalação: 25 anos
• Investimento total em infraestrutura de tratamento: US $ 95.000.000

Experiência técnica em gerenciamento de água

Categoria de funcionários	Número de funcionários	Experiência média
Especialistas em tratamento de água	45	12 anos
Engenheiros	35	15 anos
Equipe de suporte técnico	60	8 anos

Território de Serviço Geográfico em Delaware

Cobertura da área de serviço: 14 municípios em Delaware

• População da área de serviço total: 250.000
• Conexões residenciais: 55.000
• Conexões comerciais: 5.000

Sistemas robustos de atendimento ao cliente

Canal de serviço	Interações anuais	Tempo médio de resposta
Suporte telefônico	75,000	3 minutos
Portal online	120,000	Instantâneo
Aplicativo móvel	50,000	Instantâneo

Artesian Resources Corporation (ARTNA) - Modelo de negócios: proposições de valor

Suprimento de água limpa confiável

Serve aproximadamente 125.000 clientes em Delaware, cobrindo os condados de New Castle, Kent e Sussex. Opera 1.800 milhas de infraestrutura de distribuição de água.

Métricas de serviço de água	2023 dados
Total de clientes de água	125,000
Comprimento da rede de distribuição	1.800 milhas
Capacidade de tratamento de água	40 milhões de galões por dia

Qualidade e segurança consistentes da água

Mantém 99,9% de conformidade com os padrões de água potável da EPA. Realiza mais de 50.000 testes de qualidade da água anualmente.

• Testes anuais de qualidade da água: 50.000+
• Taxa de conformidade da EPA: 99,9%
• Tecnologias avançadas de tratamento de água

Gerenciamento sustentável de recursos hídricos

Investiu US $ 12,3 milhões em melhorias de infraestrutura em 2023. Opera 25 poços de água subterrânea e 3 estações de tratamento de águas superficiais.

Investimento de sustentabilidade	2023 Figuras
Investimento de infraestrutura	US $ 12,3 milhões
Poços de água subterrânea	25
Plantas de tratamento de águas superficiais	3

Serviços de utilidade acessíveis

Lei média de água residencial: US $ 58,43 por mês, 15% abaixo das taxas de utilidade média nacional.

• Bill média de água residencial mensal: US $ 58,43
• Taxas 15% abaixo da média da utilidade nacional

Soluções de água ambientalmente responsáveis

Reduziu a perda de água para 10,2% por meio de tecnologias avançadas de detecção de vazamentos. Implementou programas de conservação de água, economizando 2,5 milhões de galões anualmente.

Desempenho ambiental	2023 Métricas
Porcentagem de perda de água	10.2%
Conservação anual da água	2,5 milhões de galões

A Artesian Resources Corporation (ARTNA) - Modelo de Negócios: Relacionamentos ao Cliente

Canais diretos de suporte ao cliente

A Artesian Resources Corporation mantém o suporte ao cliente por meio de vários canais:

Canal de suporte	Método de contato	Horário de disponibilidade
Suporte telefônico	(302) 453-6400	Segunda a sexta -feira, 8:00 - 17:00
Serviços de emergência	Linha de emergência 24/7	24 horas

Cobrança on -line e gerenciamento de contas

As plataformas de serviço digital incluem:

• Portal de pagamento de conta on -line
• Declarações de cobrança eletrônica
• Acesso à conta móvel

Programas de envolvimento da comunidade

Programa	Descrição	Investimento anual
Educação em Conservação de Água	Oficinas de escola e comunidade	$75,000
Iniciativas de sustentabilidade ambiental	Programas ambientais locais	$50,000

Comunicação regular da qualidade da água

Relatório anual de qualidade da água publicada: Relatório abrangente detalhado distribuído para 50.000 clientes

Resposta de emergência e restauração de serviços

• Tempo médio de restauração de serviço: 4,2 horas
• Orçamento anual de resposta a emergências: US $ 250.000
• Equipe dedicada de resposta a emergências: 12 pessoal

A Artesian Resources Corporation (ARTNA) - Modelo de Negócios: Canais

Site online e plataformas móveis

A partir de 2024, a Artesian Resources Corporation mantém uma plataforma on -line em www.artesianwater.com com recursos de gerenciamento de contas de clientes. As estatísticas de tráfego da Web revelam aproximadamente 125.000 visitantes mensais exclusivos de suas plataformas digitais.

Canal digital	Métricas mensais de engajamento
Site visitantes únicos	125,000
Downloads de aplicativos móveis	42,500
Transações de pagamento de contas on -line	87.360 por mês

Centros de atendimento ao cliente

A Artesian Resources opera os centros de atendimento ao cliente que lidam com aproximadamente 58.000 interações com os clientes mensalmente nos canais de comunicação telefônica e digital.

Métricas de call center	Volume mensal
Interações totais do cliente	58,000
Tempo médio de resolução de chamadas	7,2 minutos
Classificação de satisfação do cliente	4.6/5.0

Locais de cobrança e pagamento físico

Os recursos artesianos mantêm três centros de pagamento físicos primários em Delaware, atendendo a aproximadamente 35.000 transações de clientes anualmente.

• Newark, De - Centro de Atendimento ao Cliente Primário
• Local de pagamento secundário de Dover, De -
• Wilmington, centro de serviço terciário

Comunicações de mala direta

A empresa envia aproximadamente 98.500 declarações de cobrança física e materiais de comunicação mensalmente.

Categoria de mala direta	Volume mensal
Declarações de cobrança	76,300
Avisos do cliente	22,200

Eventos de divulgação da comunidade local

A Artesian Resources realiza 24 eventos de envolvimento da comunidade anualmente, atingindo aproximadamente 5.700 participantes diretos.

• Oficinas de conservação de água
• Seminários de Educação Ambiental
• Apresentações de infraestrutura comunitária

Artesian Resources Corporation (ARTNA) - Modelo de negócios: segmentos de clientes

Consumidores de água residencial

A partir de 2022, a Artesian Resources Corporation atende a aproximadamente 98.000 clientes residenciais em Delaware. A base de clientes residenciais está concentrada principalmente em:

Área de serviço	Número de clientes residenciais
New Castle County	76,500
Condado de Kent	15,200
Condado de Sussex	6,300

Clientes comerciais comerciais

A Artesian Resources Corporation atende a aproximadamente 4.800 clientes comerciais em todo o Delaware.

Segmento de negócios	Número de clientes
Negócios de varejo	2,100
Complexos de escritório	1,350
Instalações industriais	850
Outras entidades comerciais	500

Entidades municipais e governamentais

A empresa fornece serviços de água a 25 clientes municipais e governamentais em Delaware.

• Municípios: 12
• Instalações do governo: 13

Usuários industriais de água

A Artesian Resources Corporation atende a 150 usuários industriais de água com requisitos especializados de serviço de água.

Setor industrial	Número de clientes
Fabricação	85
Processamento químico	35
Produção de alimentos	30

Clientes do Serviço de Água Agrícola

A Artesian Resources Corporation suporta 45 clientes agrícolas do Serviço de Água em Delaware.

• Fazendas de culturas: 28
• Operações de gado: 12
• Instalações de viveiro e estufa: 5

Artesian Resources Corporation (ARTNA) - Modelo de negócios: estrutura de custos

Despesas de manutenção de infraestrutura

Para o ano fiscal de 2022, a Artesian Resources Corporation relatou despesas de manutenção de infraestrutura de US $ 8,2 milhões. A quebra dos custos de infraestrutura inclui:

Categoria de infraestrutura	Despesa anual
Manutenção do sistema de distribuição de água	US $ 4,7 milhões
Reparação e substituição de oleodutos	US $ 2,1 milhões
Uportagem da instalação de armazenamento	US $ 1,4 milhão

Custos operacionais de tratamento de água

As despesas operacionais de tratamento de água para 2022 totalizaram US $ 5,6 milhões, com os seguintes componentes -chave:

• Custos de tratamento químico: US $ 1,9 milhão
• Consumo de energia para processos de tratamento: US $ 2,3 milhões
• Manutenção do equipamento: US $ 1,4 milhão

Investimentos de conformidade regulatória

Os investimentos em conformidade regulatória em 2022 totalizaram US $ 3,5 milhões, incluindo:

Área de conformidade	Valor do investimento
Monitoramento ambiental	US $ 1,2 milhão
Teste de qualidade da água	US $ 1,3 milhão
Relatórios regulatórios	US $ 1,0 milhão

Salários e benefícios dos funcionários

A compensação total dos funcionários em 2022 foi de US $ 12,4 milhões:

• Salários base: US $ 9,2 milhões
• Seguro de Saúde: US $ 1,6 milhão
• Benefícios de aposentadoria: US $ 1,6 milhão

Atualizações de tecnologia e sistema

Os investimentos em tecnologia em 2022 atingiram US $ 2,7 milhões, com as seguintes alocações:

Categoria de tecnologia	Valor do investimento
Infraestrutura digital	US $ 1,1 milhão
Sistemas de monitoramento	US $ 0,8 milhão
Aprimoramentos de segurança cibernética	US $ 0,8 milhão

Artesian Resources Corporation (ARTNA) - Modelo de negócios: fluxos de receita

Taxas de serviço de água residencial

Para o ano fiscal de 2022, relatou a Artesian Resources Corporation US $ 36,7 milhões nas receitas residenciais do serviço de água.

Categoria de cliente residencial	Receita anual
Casas de família única	US $ 24,3 milhões
Residencial multifamiliar	US $ 12,4 milhões

Cobranças comerciais de uso de água

As receitas do Serviço de Água Comercial totalizaram US $ 18,5 milhões em 2022.

• Uso industrial de água: US $ 7,2 milhões
• Serviço de água comercial comercial: US $ 11,3 milhões

Taxas de conexão de infraestrutura

Taxas de conexão geradas US $ 3,2 milhões em receita para 2022.

Tipo de conexão	Receita
Novas conexões residenciais	US $ 2,1 milhões
Taxas de conexão comercial	US $ 1,1 milhão

Contratos municipais de serviço de água

Os contratos municipais contribuíram US $ 8,6 milhões para receitas totais em 2022.

Receitas de serviço de tratamento de água

Serviços de tratamento de água gerados US $ 2,4 milhões em receita adicional para 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.