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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:        
Net income $ 3,920 $ 5,346    
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 10,200 8,863    
Share-based compensation 715 873    
Deferred income tax expense 417 1,838    
AFUDC-Equity (839) (682)    
Operating lease expense 287 298    
Other adjustments 162 6    
Changes in assets and liabilities        
Accounts receivable and other current assets 712 (1,387)    
Accounts payable and other current liabilities 1,987 705    
Other noncurrent assets (18) 38    
Other noncurrent liabilities (67) (102)    
Net cash provided by operating activities 17,476 15,796    
Cash Flows from Investing Activities:        
Capital expenditures (49,629) (19,171)    
Cash paid for acquisitions, net of cash acquired (8,098) 0    
Net cash used in investing activities (57,727) (19,171)    
Cash Flows from Financing Activities:        
Dividends paid (6,016) (5,462)    
Advances and contributions in aid of construction 5,542 10,455    
Refunds of advances for construction (1,327) (1,256)    
Repayments of notes payable (1,993) (1,952)    
Revolver borrowings 7,200 0    
Revolver repayments (350) (2,315)    
Loan borrowings 222 22,137    
Issuance of common stock, net of issuance costs 44,130 0    
Financing costs of debt and equity transactions (299) (418)    
Other financing activities (439) (499)    
Net cash provided by financing activities 46,670 20,690    
Increase in cash, cash equivalents, and restricted cash 6,419 17,315    
Cash, cash equivalents, and restricted cash — Beginning of period 17,575 22,078 $ 11,156 $ 4,763
Cash, cash equivalents, and restricted cash — End of period 17,575 22,078 11,156 4,763
Supplemental disclosure of cash flow information:        
Cash and cash equivalents 15,255 18,145    
Restricted cash 2,320 3,933    
Total cash, cash equivalents, and restricted cash $ 17,575 $ 22,078 $ 11,156 $ 4,763