Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 167

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 167
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 the six months ended June 30, 2024 primarily due to an increase of

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$2.9 million in depreciation expense related to continued high levels of capital investment activity and an increase of $2.3 million in amortization expense associated with intangible assets acquired in May 2024.

|                                                                        |     | Six Months Ended June 30, |   2025 |     |   |   2024 |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:-----------------------------------------------------------------------|:----|:--------------------------|-------:|:----|:--|-------:|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| General and administrative expense, excluding share-based compensation |     | $                         | 12,891 |     | $ | 11,347 |     | $         |      1,544 |   |     |            |     14 | %  |
| Share-based compensation                                               |     |                           |  1,284 |     |   |  8,711 |     |           |     (7,427 | ) |     |            |    (85 | )% |
| Total general and administrative expense                               |     | $                         | 14,175 |     | $ | 20,058 |     | $         |     (5,883 | ) |     |            |    (29 | )% |

General and administrative expense. General and administrative expense, excluding shared-based compensation expense, increased by $1.5 million for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. The increase was primarily attributable to increased allocation of corporate shared services costs of $2.7 million, partially offset by $1.2 million in bad debt reserve related to an uncollectible customer account during the six months ended June 30, 2024. Share-based compensation expense. Share-based compensation expense decreased $7.4 million for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. The decrease is primarily attributable to the change in the fair value of the WaterBridge NDB LLC incentive units accounted for as liability awards during the six months ended June 30, 2024, partially offset by amortization of new