Global Water Resources owns and operates regulated water, wastewater, and recycled water utilities in Arizona, serving roughly 121,000 people across approximately 40,000 homes in the metropolitan Phoenix and Tucson areas. The company's core service is providing water and wastewater utility service to residential and commercial customers within ACC-certified service territories, where it holds an effective regulatory monopoly — customers have no alternative provider. A key differentiator is Global Water's "Total Water Management" model: wastewater is treated to advanced tertiary standards and recycled as non-potable water distributed through a separate purple-pipe network for irrigation, reducing demand on scarce groundwater. Global Water argues this model enables higher housing density under Arizona's assured water supply regulations, which requires developers to demonstrate 100-year water availability. Revenue is almost entirely rate-regulated, with customers paying fixed base charges plus volumetric rates set by the ACC. Profitability is driven by connection growth, rate base growth from infrastructure investment, and periodic rate cases that reset rates to reflect updated costs. Global Water's two largest utilities — GW-Santa Cruz and GW-Palo Verde in Pinal County — together account for roughly 89% of revenue, both serving the City of Maricopa, one of the fastest-growing municipalities in the U.S. The company grows through organic connections as developers build within existing service areas, acquisitions of small utilities, and new greenfield CC&N certifications. Global Water runs with roughly 129 employees, using automation including AMI metering and SCADA systems to keep labor costs low.