AquaVenture (WAAS) 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	AquaVenture Holdings Ltd
Entity Central Index Key	1,422,841
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		26,453,039
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 118,070	$ 95,334
Restricted cash	166	166
Trade receivables, net of allowances of $951 and $1,166, respectively	17,761	15,473
Inventory	8,710	6,246
Prepaid expenses and other current assets	8,612	6,401
Total current assets	153,319	123,620
Property, plant and equipment, net	113,908	116,092
Construction in progress	10,602	9,398
Long-term contract costs	82,061	87,512
Restricted cash	4,147	5,895
Other assets	41,114	44,311
Deferred tax asset	376	515
Intangible assets, net	53,919	51,330
Goodwill	99,526	98,023
Total assets	558,972	536,696
Current Liabilities:
Accounts payable	4,533	3,880
Accrued liabilities	11,922	13,075
Current portion of long-term debt	6,063	27,963
Deferred revenue	3,302	2,820
Total current liabilities	25,820	47,738
Long-term debt	168,983	115,753
Deferred tax liability	4,665	2,874
Other long-term liabilities	2,414	2,825
Total liabilities	201,882	169,190
Commitments and contingencies (see Note 8)
Shareholders' Equity
Ordinary shares, no par value, 250,000 shares authorized; 26,452 and 26,388 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively
Additional paid-in capital	566,958	558,141
Accumulated other comprehensive income	(13)
Accumulated deficit	(209,855)	(190,635)
Total shareholders' equity	357,090	367,506
Total liabilities and shareholders' equity	$ 558,972	$ 536,696

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Allowances	$ 951	$ 1,166
Common stock par value	$ 0	$ 0
Common stock authorized	250,000	250,000
Common stock issued	26,452	26,388
Common stock outstanding	26,452	26,388

UNAUDITED CONDENSED CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Bulk water		$ 14,206	$ 13,879	$ 43,238	$ 40,951
Rental		13,428	12,396	39,238	36,153
Other		2,259	2,583	6,318	7,147
Total revenues		29,893	28,858	88,794	84,251
Cost of revenues:
Bulk water		7,904	7,683	25,903	22,976
Rental		6,083	5,256	17,508	15,989
Other		1,385	1,356	3,692	3,863
Total cost of revenues		15,372	14,295	47,103	42,828
Gross profit		14,521	14,563	41,691	41,423
Selling, general and administrative expenses		17,734	15,112	50,964	43,264
Loss from operations		(3,213)	(549)	(9,273)	(1,841)
Other expense:
Interest expense, net		(2,055)	(2,802)	(5,574)	(8,231)
Other expense, net		(1,453)	(86)	(1,728)	(221)
Loss before income tax expense		(6,721)	(3,437)	(16,575)	(10,293)
Income tax expense		846	1,275	2,645	2,633
Net loss		(7,567)	(4,712)	(19,220)	(12,926)
Other comprehensive income:
Foreign currency translation adjustment		(13)		(13)
Comprehensive loss		$ (7,580)	$ (4,712)	$ (19,233)	$ (12,926)
Loss per share – basic and diluted	[1]	$ (0.29)		$ (0.73)
Weighted-average shares outstanding – basic and diluted		26,441		26,414
[1]	Represents loss per share and weighted-average shares outstanding for the period following the Corporate Reorganization and IPO. There were no ordinary shares outstanding prior to October 6, 2016 and, therefore, no loss per share information has been presented for any period prior to that date.

UNAUDITED CONDENSED CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (Parenthetical) - shares shares in Thousands	Sep. 30, 2017	Dec. 31, 2016	Oct. 05, 2016
Common stock outstanding	26,452	26,388
Ordinary Share Units
Common stock outstanding			0

UNAUDITED CONDENSED CONSOLIDAT6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (19,220)	$ (12,926)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	23,831	22,463
Adjustment to asset retirement obligation	37	86
Share-based compensation expense	9,052	1,455
Provision for bad debts	450	712
Deferred income tax provision	1,930	2,216
Inventory adjustment	153	142
Loss on extinguishment of debt	1,389
Loss on disposal of assets	884	939
Amortization of debt financing fees	624	568
Adjustment to acquisition contingent consideration		(51)
Accretion of debt	60	271
Other		75
Change in operating assets and liabilities:
Trade receivables	(2,312)	(1,329)
Inventory	(1,766)	(958)
Prepaid expenses and other current assets	(1,146)	(1,179)
Other assets	(2,017)	(1,807)
Current liabilities	(4)	359
Long-term liabilities	(69)	855
Net cash provided by operating activities	11,876	11,891
Cash flows from investing activities:
Capital expenditures	(11,286)	(15,037)
Long-term contract expenditures	(613)	(1,524)
Net cash paid for acquisition of assets or business	(9,921)	(100)
Principal collected on note receivable	3,350
Other	22	3
Net cash used in investing activities	(18,448)	(16,658)
Cash flows from financing activities:
Proceeds from long-term debt	150,000	23,675
Payments of long-term debt	(117,028)	(11,891)
Payment of debt financing fees	(3,579)	(340)
Payments related to debt extinguishment	(433)
Payment of acquisition contingent consideration		(864)
Proceeds from exercise of stock options	49	2
Shares withheld to cover minimum tax withholdings on equity awards	(356)
Proceeds from the issuance of Employee Stock Purchase Plan shares	75
Issuance costs from issuance of ordinary shares in IPO	(1,169)
Net cash provided by financing activities	27,559	10,582
Effect of exchange rates on cash, cash equivalents and restricted cash	1
Change in cash, cash equivalents and restricted cash	20,988	5,815
Cash, cash equivalents and restricted cash at beginning of period	101,395	25,026
Cash, cash equivalents and restricted cash at end of period	$ 122,383	$ 30,841

Description of the Business

Description of the Business	9 Months Ended
	Sep. 30, 2017
Description of the business
Description of the business	1. Description of the Business AquaVenture Holdings Limited is a British Virgin Islands (“BVI”) company, which was formed on June 17, 2016 for the purpose of completing an initial public offering (“IPO”) as the SEC registrant and carrying on the business of AquaVenture Holdings LLC and its subsidiaries. AquaVenture Holdings Limited and its subsidiaries (collectively, “AquaVenture” or the “Company”) provides its customers Water‑as‑a‑Service (“WAAS”) solutions through two operating platforms: Seven Seas Water and Quench. Both operations are critical to AquaVenture, which is headquartered in the BVI. Seven Seas Water offers WAAS solutions by providing outsourced desalination and wastewater treatment services for governmental, municipal, industrial and hospitality customers. These solutions utilize reverse osmosis and other purification technologies to produce potable and high purity industrial process water in high volumes for customers operating in regions with limited access to potable water. Through this outsourced service model, Seven Seas Water assumes responsibility for designing, financing, constructing, operating and maintaining the water treatment facilities. In exchange, Seven Seas Water enters into long‑term agreements to sell to customers agreed‑upon quantities of water that meet specified water quality standards. Seven Seas Water currently operates primarily throughout the Caribbean region and South America and is pursuing new opportunities in North America, South America and other select markets. Seven Seas Water is supported by an operations center in Tampa, Florida, which provides business development, engineering, field service support, procurement and administrative functions. Quench offers WAAS solutions by providing bottleless filtered water coolers and other products that use filtered water as an input, such as ice machines, sparkling water dispensers and coffee brewers, to customers throughout North America. Quench’s point‑of‑use (“POU”) systems purify a customer’s existing water supply. Quench offers solutions to a broad mix of industries, including government, education, medical, manufacturing, retail, and hospitality. Quench installs and maintains its filtered water systems typically under multi‑year contracts that renew automatically. Quench is supported by an operations center in King of Prussia, Pennsylvania, which provides marketing and business development, field service and supply chain support, customer care and administrative functions. Corporate Reorganization Prior to the completion of the IPO on October 12, 2016, the Company and AquaVenture Holdings LLC completed a series of reorganization transactions which are described below: · On July 1, 2016, AquaVenture Holdings LLC contributed all of the stock of its wholly-owned subsidiary, AquaVenture Holdings Curaçao N.V., to AquaVenture Holdings Limited in exchange for 1,000,000 ordinary shares of the Company. · On October 4, 2016, AquaVenture Holdings LLC contributed to AquaVenture Holdings Limited: (i) the stock of Quench USA, Inc. and Seven Seas Water Corporation and (ii) all cash and other remaining assets and liabilities (other than the shares of AquaVenture Holdings Limited it held). Subsequently, AquaVenture Holdings LLC merged with a newly formed subsidiary of AquaVenture Holdings Limited, resulting in each Class A Preferred share, Class B share, Class Q share, Common share, and Management Incentive Plan (“MIP”) share being converted into ordinary shares of AquaVenture Holdings Limited pursuant to the terms of AquaVenture Holdings LLC’s limited liability company agreement. Quench USA Holdings LLC, a member of AquaVenture Holdings LLC, then merged with a separate newly formed subsidiary of AquaVenture Holdings Limited, resulting in the distribution of shares of AquaVenture Holdings Limited to its members pursuant to the terms of Quench USA Holdings LLC’s limited liability company agreement. The reorganization transactions are considered transactions between entities under common control. As a result, the financial statements for periods prior to the IPO and the reorganization transactions are the financial statements of AquaVenture Holdings LLC as the predecessor to the Company for accounting and reporting purposes. Unless otherwise specified, the “Company” refers to the operations of both AquaVenture Holdings Limited and AquaVenture Holdings LLC throughout the remainder of these notes. Initial Public Offering On October 5, 2016, the Company’s IPO was declared effective and on October 12, 2016, the Company completed the IPO of 7,475,000 ordinary shares at a public offering price of $18.00 per share. The Company received net proceeds of $118.8 million, after deducting underwriting discounts and commissions and offering expenses.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Summary of significant accounting policies
Summary of significant accounting policies	2. Summary of Significant Accounting Policies Unless otherwise noted below, there have been no material changes to the accounting policies presented in Note 2—“Summary of Significant Accounting Policies” of the notes to the audited consolidated financial statements, included in Item 8. Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Basis of Presentation The unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, certain information and footnotes normally required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring adjustments) considered necessary for a fair presentation of the Company’s unaudited condensed consolidated balance sheet as of September 30, 2017, the unaudited condensed consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2017 and 2016 and the unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2017 and 2016. The unaudited condensed consolidated balance sheet as of December 31, 2016 was derived from the audited consolidated balance sheet as of December 31, 2016, as presented in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. The unaudited condensed consolidated financial statements include the accounts of AquaVenture Holdings Limited and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include: accounting for goodwill and identifiable intangible assets and any related impairment; property, plant and equipment and any related impairment; long‑term contract costs and any related impairment; share‑based compensation; allowance for doubtful accounts; obligations for asset retirement; and deferred income taxes. Although these and other estimates and assumptions are based on the best available information, actual results could be materially different from these estimates. Adoption of New Accounting Pronouncements In November 2016, the FASB issued authoritative guidance that requires inclusion of cash and cash equivalents that have restrictions on withdrawal or use in total cash and cash equivalents on the statement of cash flows. This guidance will be effective for annual reporting periods beginning on or after December 15, 2017, including interim periods within those annual periods, and early adoption is permitted. The Company has adopted this guidance on January 1, 2017. The Company now presents the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows and no longer presents transfers between cash and cash equivalents and restricted cash and restricted cash investments in the statement of cash flows. Cash, cash equivalents and restricted cash stated in the consolidated unaudited statement of cash flows represent the addition of cash and cash equivalents, restricted cash classified as current and restricted cash classified as non-current line items in the unaudited condensed consolidated balance sheet. The adoption was on a retrospective basis and the unaudited condensed consolidated statement of cash flows for the nine months ended September 30, 2016 has been adjusted to reflect the adoption. The adoption does not have any impact on the unaudited condensed consolidated balance sheet or statement of operations. New Accounting Pronouncements In October 2016, the FASB issued authoritative guidance that requires the recognition of income tax consequences of intercompany asset transfers other than inventory at the transaction date. This guidance will be effective for annual reporting periods beginning on or after December 15, 2017, including interim periods within those annual periods, and early adoption is permitted. The Company is currently evaluating the potential impact of the accounting and disclosure requirements on the consolidated financial statements. The Company expects to finalize its assessment during 2017. In January 2017, the FASB issued authoritative guidance that simplifies the test for goodwill impairment. This guidance will be effective for annual reporting periods beginning on or after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted upon interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will early adopt this guidance in the fourth quarter of 2017 in conjunction with its annual goodwill impairment testing for 2017. In May 2014, the FASB issued authoritative guidance regarding revenue from contracts with customers that specifies that revenue should be recognized when promised goods or services are transferred to customers in an amount that reflects the consideration which the company expects to be entitled in exchange for those goods or services. This guidance is effective for annual reporting periods beginning on or after December 15, 2017 and interim periods within those annual periods and will require enhanced disclosures. For contracts determined to be service concession contracts, the Company has concluded the revenue recognition for assets constructed under the contract to occur at the time control transfers to the customer for accounting purposes. This revenue recognition pattern varies from the revenue recognition pattern under the current authoritative guidance. While the Company has not quantified the impact of this change as of the date of filing, the adoption may significantly affect the financial results as reported under the current authoritative guidance. The Company does not anticipate any other material changes to the timing of revenue recognition for other contracts with customers except in circumstances where more than one performance obligation exists. For contracts where more than one performance obligation exists, the Company is currently evaluating the potential impact of the accounting and disclosure requirements on the consolidated financial statements. The Company expects to finalize its assessment during the fourth quarter of 2017. The Company will adopt the guidance on a retrospective basis on January 1, 2018. In conjunction with this adoption, the Company will also adopt the authoritative guidance issued in March 2017 regarding the determination of the customer in a service concession arrangement. In February 2016, the FASB issued authoritative guidance regarding leases that requires lessees to recognize a lease liability and right‑of‑use asset for operating leases, with the exception of short‑term leases. In addition, lessor accounting was modified to align, where necessary, with lessee accounting modifications and the authoritative guidance regarding revenue from contracts with customers. This guidance will be effective for annual reporting periods beginning on or after December 15, 2018, including interim periods within those annual periods, and early adoption is permitted. The Company has developed its assessment approach and has begun evaluating the potential impact of the accounting and disclosure requirements on the consolidated financial statements. The Company expects to elect the practical expedients provided for within the authoritative guidance which exempts the Company from having to reassess: (i) whether expired or existing contracts contain leases, (ii) the lease classification for expired or existing leases, and (iii) initial direct costs for existing leases. For lessor accounting, as a result of electing the practical expedients provided, the Company does not anticipate material changes to the accounting for operating leases or sales-type leases that existed at the adoption date. For lessee accounting, the Company expects to recognize a lease liability and right-of-use asset for operating leases with a term of more than 12 months. The Company is

Business Combinations and Asset

Business Combinations and Asset Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations and Asset Acquisitions
Business Combinations and Asset Acquisitions	3. Business Combinations and Asset Acquisitions Business Combinations Wellsys USA Corporation On September 8, 2017, Quench USA, Inc., a wholly-owned subsidiary of AquaVenture Holdings Limited, acquired substantially all of the assets and assumed certain liabilities of Wellsys USA Corporation (“Wellsys”) pursuant to an asset purchase agreement for an aggregate purchase price of $6.9 million in cash, including a final working capital adjustment of $165 thousand (“Wellsys Acquisition”) which is expected to be received from the escrow agent during the three months ended December 31, 2017. Wellsys is a supplier of high quality branded and private-labeled POU water coolers and purifications systems. Headquartered in the greater Phoenix, Arizona area, Wellsys sells its products to a network of dealers throughout the United States, Canada, Mexico and South Africa. Transaction-related costs incurred by the Company during the three and nine months ended September 30, 2017 were $21 thousand, which were expensed as incurred within selling, general and administrative (“SG&A”) expenses in the unaudited condensed consolidated statements of operations and comprehensive income. The Quench business completed the Wellsys Acquisition to be able to participate more broadly in the global POU market through the Wellsys distribution network. In addition, the acquisition provides an opportunity to develop, source and distribute Quench-exclusive innovative coolers and purification offerings, and to develop relationships with Wellsys dealers that could ultimately lead to potential acquisitions. The following table summarizes the preliminary purchase price allocated to the fair value of assets acquired, including intangibles recorded in conjunction with the business combination, and liabilities assumed (in thousands): Assets acquired: Trade receivables $ 321 Inventory 884 Intangible assets 4,300 Goodwill 1,503 Total assets acquired 7,008 Liabilities assumed: Customer deposits (153) Total liabilities assumed (153) Total purchase price $ 6,855 Due primarily to the timing of the acquisition and the complexities involved with determining fair value of the intangible assets acquired, the Company has not yet completed the valuations of the identified intangibles. The preliminary purchase price allocation has been developed based on preliminary estimates of fair values using the historical financial statements of Wellsys prior to the acquisition along with assumptions made by management. Although the Company does not expect the final allocation to vary significantly, there may be adjustments made to the purchase price allocation that could result in changes to the preliminary fair values allocated, assigned useful lives and associated amortization recorded. Goodwill is composed of synergies not valued, is deductible for tax purposes and is recorded within the Quench reporting unit. The operations of Wellsys are included in the Quench reportable segment after the date of acquisition. The amount of revenues and net income of Wellsys included in the unaudited condensed consolidated statements of operations and comprehensive income since acquisition was $0.4 million and $12 thousand, respectively. Aguas De Bayovar S.A.C. On October 31, 2016, AquaVenture Holdings Peru S.A.C. ("AVH Peru"), a Peruvian company and an indirect wholly-owned subsidiary of AquaVenture Holdings Limited, acquired 100% of the outstanding shares of Aguas de Bayovar S.A.C. (‘‘ADB’’) and all of the rights and obligations under a design and construction contract for a desalination plant and related infrastructure located in Peru for an aggregate purchase price of $46.5 million in cash, including a working capital adjustment of $186 thousand (the “Peru Acquisition”) which was paid in February 2017. The desalination plant and related infrastructure, which was completed in 2010, has a design capacity of 2.7 million gallons per day, and ADB operates and maintains the desalination plant and related infrastructure constructed under the design and construction agreement to produce water for a contracted fee on a take-or-pay basis for a phosphate mining company pursuant to an operating and maintenance contract, which expires in 2037. The rights to the design and construction contract are accounted for as a note receivable that requires monthly installment payments from the customer for the construction of the desalination plant and related infrastructure, which continue until 2024. The operations of ADB are included in the Seven Seas Water reportable segment for the periods after the date of acquisition. Transaction-related costs incurred by the Company during the three and nine months ended September 30, 2016 were $0.4 million and $0.9 million, respectively, and were expensed as incurred within SG&A expenses in the unaudited condensed consolidated statements of operations and comprehensive income. The Seven Seas Water business completed the Peru Acquisition to expand its installed base of seawater reverse osmosis desalination facilities used to provide WAAS, its presence in South America and the industries served. As of September 30, 2017, the purchase price allocated to the fair value of assets acquired, including intangibles recorded in conjunction with the business combination, and liabilities assumed remains preliminary. During the nine months ended September 30, 2017, the Company made certain adjustments to the purchase price allocation for certain liabilities, including tax, that existed prior to October 31, 2016. The Company believes the liabilities are fully indemnified p ursuant to the purchase and sale agreement for the Peru Acquisition. As a result, the Company updated the purchase price allocation as of September 30, 2017 to record a liability in the amount of $0.9 million which was recorded in accrued liabilities and an indemnification receivable in the amount of $0.9 million, which was recorded in prepaids and other assets in the unaudited condensed consolidated balance sheet as of September 30, 2017. Pro Forma Financial Information The following unaudited pro forma financial information (in thousands, except for per share amounts) for the Company gives effect to the acquisitions of ADB and Wellsys, which occurred on October 31, 2016 and September 8, 2017, respectively, as if they had occurred on January 1, 2016. These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that actually would have resulted had the acquisitions occurred on the date indicated, or that may result in the future. Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Revenues $ 31,077 $ 31,300 $ 93,530 $ 90,848 Net loss $ (7,410) $ (3,502) $ (18,593) $ (9,282) Loss per share(1) $ (0.28) $ (0.70) (1) Represents loss per share for the period following the Corporate Reorganization and IPO. There were no ordinary shares outstanding prior to October 6, 2016 and, therefore, no loss per share information has been presented for any period prior to that date. Asset Acquisitions Pure Water Innovations, Inc. On June 1, 2017, Quench USA, Inc., a wholly-owned subsidiary of AquaVenture Holdings Limited, acquired substantially all of the assets of Pure Water Innovations, Inc. (“PWI”) pursuant to an asset purchase agreement. The revenues and related expenses from the acquired in-place lease agreements will be included in the Quench reportable segment after the date of acquisition. As the acquisition of PWI did not meet the definition of a business combination, the Company accounted for the transaction as an asset acquisition. In an asset acquisition, goodwill is not recognized, but rather any excess consideration transferred over the fair value of the net assets acquired is allocated on a relative fair value basis to the identifiable net assets. In addition, transaction-related expenses are capitalized and allocated to the net assets acquired on a relative fair value basis. The following table summarizes the amounts allocated to the fair value of net assets acquired (in thousands): Trade receivables $ 31 Property, plant and equipment 325 Customer relationships 1,690 Deferred revenue (28) Accrued liabilities (12) Net assets acquired $ 2,006 The assets in the initial purchase price allocation are stated at fair value based on estimates of fair value using available information and making assumptions management believes are reasonable. The customer relationships were valued using an excess earnings approach which is based on the present value of expected cash flows generated by the revenues under the contract with the customer. The weighted average useful life of the acquired customer relationships is approximately 12 years from the date of acquisition.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Measurements
Fair Value Measurements	4. Fair Value Measurements At September 30, 2017 and December 31, 2016, the Company had the following assets and liabilities measured at fair value on a recurring basis in the unaudited condensed consolidated balance sheets: · U.S. Treasury securities are measured on a recurring basis and are recorded at fair value based on quoted market value in an active market, which is considered a Level 1 input. · Money market funds are measured on a recurring basis and are recorded at fair value based on each fund’s quoted market value per share in an active market, which is considered a Level 1 input. There were no transfers into or out of Level 1, 2 or 3 assets during the three or nine months ended September 30, 2017. Transfers between levels are deemed to have occurred if the lowest level of input were to change. The Company’s fair value measurements as of September 30, 2017 and December 31, 2016 were as follows (in thousands): Quoted Prices in Significant Active Markets Other Significant Asset/ for Identical Observable Unobservable Assets/Liabilities Measured at Fair Value (Liability) Assets (Level 1) Inputs (Level 2) Inputs (Level 3) As of September 30, 2017 Recurring basis: Money market funds $ 13,571 $ 13,571 $ — $ — U.S. Treasury securities $ 83,791 $ 83,791 $ — $ — As of December 31, 2016 Recurring basis: Money market funds $ 29,523 $ 29,523 $ — $ — U.S. Treasury securities $ 24,777 $ 24,777 $ — $ —

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2017
Long-term Debt
Long-Term Debt	5. Long-Term Debt As of September 30, 2017 and December 31, 2016, long‑term debt included the following (in thousands): September 30, December 31, 2017 2016 Corporate Credit Agreement $ 150,000 $ — BVI Loan Agreement 27,076 31,432 Vehicle financing 1,513 1,783 Trinidad Credit Agreement — 24,071 USVI Credit Agreement — 12,923 Quench Loan Agreement — 40,000 Curaçao Credit Facility — 35,000 Total face value of long-term debt $ 178,589 $ 145,209 Face value of long-term debt, current $ 6,063 $ 27,963 Less: Current portion of unamortized debt discounts and deferred financing fees — — Current portion of long-term debt, net of debt discounts and deferred financing fees $ 6,063 $ 27,963 Face value of long-term debt, non-current $ 172,526 $ 117,246 Less: Non-current portion of unamortized debt discounts and deferred financing fees (3,543) (1,493) Long-term debt, net of debt discounts and deferred financing fees $ 168,983 $ 115,753 Corporate Credit Agreement The Corporate Credit Agreement is guaranteed by the Company along with certain subsidiaries and contains financial and nonfinancial covenants. The financial covenants include minimum interest coverage ratio and maximum leverage ratio requirements as defined in the Corporate Credit Agreement, and are calculated using consolidated Company financial information excluding the results of AquaVenture (BVI) Holdings Limited and its subsidiary Seven Seas Water (BVI) Limited. In addition, the Corporate Credit Agreement contains customary negative covenants limiting, among other things, indebtedness, investments, liens, dispositions of assets, restricted payments (including dividends), transactions with affiliates, prepayments of indebtedness, capital expenditures, changes in nature of business and amendments to documents. The Company was in compliance with, or received waivers for breaches of, all such covenants as of September 30, 2017. The Company may prepay, in whole or in part, the outstanding principal and accrued unpaid interest under the Corporate Credit Agreement. A prepayment fee is due upon repayment if it occurs prior to August 4, 2018. The Corporate Credit Agreement is collateralized by certain of the assets of the Borrowers and stated guarantors. On August 4, 2017, the Company utilized approximately $100 million of the proceeds from the Corporate Credit Agreement to repay in full the outstanding principal on the following debt obligations: o An Amended and Restated Credit Agreement, dated April 18, 2016 (as amended, restated, or modified or supplemented from time to time), between a bank and Seven Seas Water (Trinidad) Unlimited, an indirect wholly-owned subsidiary of the Company (“Trinidad Credit Agreement”); o A Credit Agreement, dated March 27, 2013 (as amended, restated, amended and restated, or modified or supplemented from time to time), among two banks and Seven Seas Water (USVI), an indirect wholly-owned subsidiary of the Company (“USVI Credit Agreement”); o A Loan and Security agreement, dated October 7, 2011 (as amended, restated, amended and restated, or modified or supplemented from time to time), between a lender and Quench USA, Inc. (“Quench Loan Agreement”); and o A Credit Agreement, dated June 18, 2015 (as amended, restated, amended and restated, or modified or supplemented from time to time), among a bank, the Company, Aqua Venture Holdings Curaçao N.V., a wholly-owned subsidiary of the Company, Seven Seas Water Corporation, a wholly-owned subsidiary of the Company and AquaVenture Capital Limited, an indirect wholly-owned subsidiary of the Company (“Curaçao Credit Facility”). The Company recorded a loss on debt extinguishment of $1.4 million during the three months ended September 30, 2017 related to prepayment fees, breakage costs and accelerated amortization of debt financing fees, which was recorded in other expense within the unaudited consolidated statement of operations and comprehensive income. BVI Loan Agreement On August 4, 2017, Seven Seas Water (BVI) Ltd., an indirect wholly owned subsidiary of the Company, amended the credit facility between Seven Seas Water (BVI) Ltd. and a bank (“BVI Loan Agreement”) to extend the amortization to May 2022 and reduce the spread applied to the LIBOR base rate used in the calculation of interest by 50 basis points to LIBOR plus 3.0% per annum. The United Kingdom Export Finance also extended its participation in the project to match the extended term of the amended BVI Loan Agreement. All other material terms of the original loan agreement remained unchanged. As of September 30, 2017, the weighted‑average interest rate was 4.3%. Maturities of Long ‑ Term Debt Maturities of long ‑ term debt were as follows as of September 30, 2017 (in thousands): Amount Due Remainder of 2017 $ 1,217 2018 6,409 2019 6,018 2020 6,073 2021 156,037 2022 and thereafter 2,835 Total face value of long-term debt $ 178,589

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2017
Share-based Compensation
Share-Based Compensation	6. Share‑Based Compensation AquaVenture Equity Awards As described in Note 1—“Description of the Business”, the Company completed a reorganization on October 4, 2016, which resulted in the conversion, pursuant to the terms of AquaVenture Holdings LLC’s limited liability agreement, of all outstanding equity awards of AquaVenture Holdings LLC to equity awards of AquaVenture Holdings Limited, with the underlying security being ordinary shares of AquaVenture Holdings Limited. The conversion retained the same economics of each of the outstanding equity awards. All other terms, including vesting, remained unchanged. The Quench USA Holdings LLC 2014 Equity Incentive Plan and Quench USA, Inc. 2008 Stock Plan (collectively, the “Quench Equity Plans”) were assumed by AquaVenture Holdings Limited on October 4, 2016. All outstanding awards of the Quench Equity Plans were converted to equity awards of AquaVenture Holdings Limited, with the underlying security being ordinary shares of AquaVenture Holdings Limited. Consistent with the effects of the conversion on the AquaVenture Holding LLC equity awards, economics for each outstanding award were retained and all terms, including vesting, remained unchanged. I ssuances of securities under the AquaVenture Holdings LLC Amended and Restated Equity Incentive Plan and the Quench Equity Plans ceased at the time of the effectiveness of the IPO on October 5, 2016. As a result, no securities remain available for issuance under these plans . On September 22, 2016, the Company approved and adopted the AquaVenture Holdings Limited 2016 Share Option and Incentive Plan (the “2016 Plan”), which allows for the issuance of incentive share options, non-qualified share options, share appreciation rights, restricted share units, restricted share awards, unrestricted share awards, cash-based awards, performance share awards and dividend equivalent rights to officers, employees, managers, directors and other key persons, including consultants to the Company. The aggregate number of ordinary shares initially available for issuance, subject to adjustment upon a change in capitalization, under the 2016 Plan was 5.0 million shares. The shares available for issuance will increase annually by 4% of the number of ordinary shares issued and outstanding on the immediately preceding December 31. As of January 1, 2017, the number of ordinary shares available for issuance under the 2016 Plan is 6.1 million shares. During the nine months ended September 30, 2017, the Company granted options to purchase 62 thousand ordinary shares to eligible recipients at a weighted average exercise price of $16.48 per share. The options to purchase ordinary shares have a time-based vesting schedule of four years with 25% on the first anniversary and the remaining 75% vesting quarterly over the remaining three years. In addition, the Company granted 57 thousand restricted share units during the nine months ended September 30, 2017. Certain of the restricted share units were granted to the Company’s board of directors and have time-based vesting schedule of one year from the date of grant. All other restricted share units have a time-based vesting schedule of four years with 25% on the first anniversary and the remaining 75% vesting quarterly over the remaining three years. The fair market value of restricted share units is determined based on the closing share price of the Company’s ordinary shares on the date of grant, and is amortized on a straight-line basis over the requisite service period. Employee Stock Purchase Plan Under the 2016 Employee Stock Purchase Plan (“2016 ESPP”), the Company offers eligible employee participants to purchase the Company’s ordinary shares at a price equal to the lesser of 85 percent of the closing market price on the first or last day of an established offering period. Under the 2016 ESPP, 6 thousand shares were sold to eligible employees during the three and nine months ended September 30, 2017. Share-based compensation expense is recognized based on the fair value of the employees’ purchase rights under the 2016 ESPP and is amortized on a straight-line basis over the offering period. At September 30, 2017, 0.4 million ordinary shares were available for future issuance under the 2016 ESPP. Independent Directors’ Deferred Compensation Program Under the Independent Directors' Deferred Compensation Program (the "Deferred Compensation Program") which was established under the Issuer's 2016 Plan, eligible members of the Company’s board of directors (“Eligible Directors”) are able to defer all or a portion of the cash compensation or equity awards which they are due in the form of phantom share units. Each phantom share unit is the economic equivalent of one ordinary share of the Company. The number of phantom share units credited to the Eligible Director’s deferred account is equal to 120% of the aggregate deferred cash fees that would otherwise be payable on such date divided by the closing price of the Company’s ordinary shares on the award date. No other premium is given to the directors for deferral of their equity awards. Phantom share units shall be settled in ordinary shares upon the earlier of the Eligible Director’s death, disability, separation from the board, sale event, or end of the first full fiscal year after the grant date. The phantom share units issued in lieu of the cash retainers have no vesting period and cannot be forfeited. The phantom share units issued in lieu of the restricted units will have a stated vesting period but will then have a deferred delivery once vested. Share-based compensation expense for the phantom share units issued in lieu of the cash retainers will be recognized on the date of grant, while share-based compensation expense for the phantom share units issued in lieu of the restricted units will be recognized over the requisite service period. During the nine months ended September 30, 2017, the Company granted 3 thousand phantom shares to Eligible Directors. At September 30, 2017, 3 thousand phantom shares remained outstanding. Share‑Based Compensation Expense Total share‑based compensation expense recognized during the three months ended September 30, 2017 and 2016 was $3.1 million and $0.4 million, respectively. For the three months ended September 30, 2017, $3.0 million and $0.1 million were recorded in SG&A and cost of revenues, respectively, within the unaudited condensed consolidated statements of operations and comprehensive income. For the three months ended September 30, 2016, $0.4 million and $0 were recorded in SG&A and cost of revenues, respectively, within the unaudited condensed consolidated statements of operations and comprehensive income. Total share‑based compensation expense recognized during the nine months ended September 30, 2017 and 2016 was $9.1 million and $1.5 million, respectively. For the nine months ended September 30, 2017, $8.8 million and $0.3 million were recorded in SG&A and cost of revenues, respectively, within the unaudited condensed consolidated statements of operations and comprehensive income. For the nine months ended September 30, 2016, $1.5 million and $0 were recorded in SG&A and cost of revenues, respectively, within the unaudited condensed consolidated statements of operations and comprehensive income. There was no related tax benefit for the three or nine months ended September 30, 2017 and 2016 as a full deferred tax asset valuation allowance was recorded in the United States for domestic operations.

Loss per Share

Loss per Share	9 Months Ended
	Sep. 30, 2017
Loss per Share
Loss per Share	7. Loss per Share Basic earnings (loss) per share is computed by dividing net earnings (loss) attributable to ordinary shareholders for the period by the weighted-average number of ordinary shares outstanding during the same period. Basic weighted-average shares outstanding excludes unvested shares of restricted share awards. Diluted earnings (loss) per share is computed by dividing net earnings (loss) attributable to ordinary shareholders for the period by the weighted-average number of ordinary shares outstanding adjusted to give effect to potentially dilutive securities using the treasury stock method, except where the effect of including the effect of such securities would be anti-dilutive. There were no ordinary shares outstanding prior to October 6, 2016, therefore no loss per share information has been presented for any period prior to that date. The following table provides information for calculating net loss applicable to ordinary shareholders (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2017 2017 Numerator: Net loss $ (7,567) $ (19,220) Denominator: Weighted-average ordinary shares outstanding - basic and diluted 26,441 26,414 Loss per share - basic and diluted $ (0.29) $ (0.73) Given that the Company had a net loss for the three and nine months ended September 30, 2017, the calculation of diluted loss per share is computed using basic weighted average ordinary shares outstanding. Approximately 3.9 million weighted-average outstanding share awards for both the three and nine months ended September 30, 2017 were excluded from the calculation of diluted earnings per share because their effect was antidilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure
Commitments and Contingencies	8. Commitments and Contingencies Asset Retirement Obligations Asset retirement obligation (“ARO”) liabilities, which arise from contractual requirements to perform certain asset retirement activities and is generally recorded when the asset is constructed, is based on the Company’s engineering estimates of future costs to dismantle and remove equipment from a customer’s plant site and to restore the site to a specified condition at the conclusion of a contract. As appropriate, the Company revises certain of its liabilities based on changes in the projected costs for future removal and shipping activities. These revisions, along with accretion expense, are included in cost of revenues in the unaudited condensed consolidated statement of operations. During the three months ended September 30, 2017 and 2016, the Company recorded accretion expense of $13 thousand and $12 thousand, respectively. During the nine months ended September 30, 2017 and 2016, the Company recorded accretion expense of $37 thousand and $31 thousand, respectively. No valuation adjustments were recorded during the three or nine months ended September 30, 2017. During the three months ended September 30, 2016, certain of the Company’s existing contracts were extended. As a result, the Company recorded a gain of $55 thousand during both the three and nine months ended September 30, 2016 for the revaluation of the ARO based on changes in the projected costs for future removal and shipping activities. At September 30, 2017 and December 31, 2016, the current portion of the ARO liabilities was $26 thousand and $0, respectively, and was recorded in accrued liabilities in the unaudited condensed consolidated balance sheets. At September 30, 2017 and December 31, 2016, the long‑term portion of the ARO liabilities was $1.1 million and $1.1 million, respectively, and was recorded in other long‑term liabilities in the unaudited condensed consolidated balance sheets. Litigation, Claims and Administrative Matters The Company, may, from time to time, be a party to legal proceedings, claims, and administrative matters that arise in the normal course of business. The Company has made accruals with respect to certain of these matters, where appropriate, that are reflected in the unaudited condensed consolidated financial statements but are not, individually or in the aggregate, considered material. For other matters for which an accrual has not been made, the Company has not yet determined that a loss is probable or the amount of loss cannot be reasonably estimated. While the ultimate outcome of the matters cannot be determined, the Company currently does not expect that these proceedings and claims, individually or in the aggregate, will have a material effect on the unaudited condensed consolidated financial position, results of operations, or cash flows. The outcome of any litigation is inherently uncertain, however, and if decided adversely to the Company, or if the Company determines that settlement of particular litigation is appropriate, the Company may be subject to liability that could have a material adverse effect on the unaudited condensed consolidated financial position, results of operations, or cash flows. The Company maintains liability insurance in such amounts and with such coverage and deductibles as management believes is reasonable. The principal liability risks that the Company insures against are customer lawsuits caused by damage or nonperformance, workers’ compensation, personal injury, bodily injury, property damage, directors’ and officers’ liability, cybersecurity and cyber incidents, errors and omissions, employment practices liability and fidelity losses. There can be no assurance that the Company’s liability insurance will cover all events or that the limits of coverage will be sufficient to fully cover all liabilities. As of September 30, 2017, the Company has determined there are no matters for which a material loss is reasonably possible or the Company has either determined that the range of loss is not reasonably estimable or that any reasonably estimable range of loss is not material to the unaudited condensed consolidated financial statements.

Cash Flow Information

Cash Flow Information	9 Months Ended
	Sep. 30, 2017
Cash Flow Information
Cash Flow Information	9. Cash Flow Information Supplemental cash flow information is as follows (in thousands): Nine Months Ended September 30, 2017 2016 Cash paid during the period: Income taxes, net $ 1,138 $ 71 Interest, net $ 8,381 $ 7,500 Non-Cash Transaction Information: Non-cash capital expenditures $ 611 $ 1,078 Unpaid offering costs $ — $ 1,113 Unpaid debt financing costs $ 111 $ — The components of total ending cash for the periods presented in the unaudited condensed consolidated statement of cash flows are as follows (in thousands): As of September 30, 2017 2016 Cash and cash equivalents $ 118,070 $ 25,000 Restricted cash, current 166 283 Restricted cash, non-current 4,147 5,558 $ 122,383 $ 30,841

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2017
Segment Reporting
Segment Reporting	10. Segment Reporting The Company has two operating and reportable segments, Seven Seas Water and Quench. This determination is supported by, among other factors, the existence of individuals responsible for the operations of each segment and who also report directly to the Company’s chief operating decision maker (“CODM”), the nature of the segment’s operations and information presented to the Company’s CODM. Seven Seas Water provides outsourced desalination solutions and wastewater treatment for governmental, municipal, industrial and hospitality customers internationally under long‑term contracts. Quench provides bottleless filtered water coolers and other products that use filtered water as an input, such as ice machines, sparkling water dispensers and coffee brewers, to customers throughout North America, typically under multi‑year contracts. Revenues reported under the Seven Seas Water reportable segment primarily represent bulk water sales and service, including revenues generated from service concession arrangements, whereas revenues reported under the Quench reportable segment primarily represent rental of filtered water and related systems. Prior to January 1, 2017, the Company included the majority of certain general and administrative costs, primarily professional service and other expenses to support the activities of the registrant holding company, within the Seven Seas reportable segment. Beginning January 1, 2017, the Company began separating “Corporate and Other” for the CODM and for segment reporting purposes. The Corporate and Other administration function is not treated as a segment but includes certain general and administrative costs that are not allocated to either of the reportable segments. These costs include, but are not limited to, professional service and other expenses to support the activities of the registrant holding company. Corporate and Other does not include any labor allocations from the Seven Seas Water and Quench segments. The Company believes this presentation more accurately portrays the results of the core operations of each of the operating and reportable segments to the CODM. As a result of this change, the Company has restated prior periods for segment reporting purposes. As part of the segment reconciliation below, intercompany interest expense and the associated intercompany interest income are included but are eliminated in consolidation. The following table provides information by reportable segment and a reconciliation to the consolidated results for the three months ended September 30, 2017 and 2016 (in thousands): Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Seven Seas Corporate Seven Seas Corporate Water Quench & Other Total Water Quench & Other Total Revenues: Bulk water $ 14,206 $ — $ — $ 14,206 $ 13,879 $ — $ — $ 13,879 Rental — 13,428 — 13,428 — 12,396 — 12,396 Other — 2,259 — 2,259 — 2,583 — 2,583 Total revenues 14,206 15,687 — 29,893 13,879 14,979 — 28,858 Gross profit: Bulk water 6,302 — — 6,302 6,196 — — 6,196 Rental — 7,345 — 7,345 — 7,140 — 7,140 Other — 874 — 874 — 1,227 — 1,227 Total gross profit 6,302 8,219 — 14,521 6,196 8,367 — 14,563 Selling, general and administrative expenses 6,607 9,828 1,299 17,734 4,962 9,602 548 15,112 Income (loss) from operations (305) (1,609) (1,299) (3,213) 1,234 (1,235) (548) (549) Other (expense) income, net (1,764) (1,359) (385) (3,508) (1,896) (1,027) 35 (2,888) Loss before income tax expense (2,069) (2,968) (1,684) (6,721) (662) (2,262) (513) (3,437) Income tax expense 790 56 — 846 1,275 — — 1,275 Net loss $ (2,859) $ (3,024) $ (1,684) $ (7,567) $ (1,937) $ (2,262) $ (513) $ (4,712) Other information: Depreciation and amortization expense $ 4,278 $ 3,856 $ — $ 8,134 $ 4,183 $ 3,519 $ — $ 7,702 Interest expense (income), net $ 880 $ 790 $ 385 $ 2,055 $ 1,806 $ 1,027 $ (31) $ 2,802 Loss on extinguishment of debt $ 820 $ 569 $ — $ 1,389 $ — $ — $ — $ — Expenditures for long-lived assets $ 1,108 $ 3,135 $ — $ 4,243 $ 1,810 $ 3,104 $ — $ 4,914 Amortization of deferred financing fees $ 93 $ 37 $ 79 $ 209 $ 150 $ 47 $ — $ 197 The following table provides information by reportable segment and a reconciliation to the consolidated results for the nine months ended September 30, 2017 and 2016 (in thousands): Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Seven Seas Corporate Seven Seas Corporate Water Quench & Other Total Water Quench & Other Total Revenues: Bulk water $ 43,238 $ — $ — $ 43,238 $ 40,951 $ — $ — $ 40,951 Rental — 39,238 — 39,238 — 36,153 — 36,153 Other — 6,318 — 6,318 — 7,147 — 7,147 Total revenues 43,238 45,556 — 88,794 40,951 43,300 — 84,251 Gross profit: Bulk water 17,335 — — 17,335 17,975 — — 17,975 Rental — 21,730 — 21,730 — 20,164 — 20,164 Other — 2,626 — 2,626 — 3,284 — 3,284 Total gross profit 17,335 24,356 — 41,691 17,975 23,448 — 41,423 Selling, general and administrative expenses 18,692 28,988 3,284 50,964 14,003 27,718 1,543 43,264 Income (loss) from operations (1,357) (4,632) (3,284) (9,273) 3,972 (4,270) (1,543) (1,841) Other (expense) income, net (4,139) (3,395) 232 (7,302) (5,428) (3,065) 41 (8,452) Loss before income tax expense (5,496) (8,027) (3,052) (16,575) (1,456) (7,335) (1,502) (10,293) Income tax expense 2,424 221 — 2,645 2,633 — — 2,633 Net loss $ (7,920) $ (8,248) $ (3,052) $ (19,220) $ (4,089) $ (7,335) $ (1,502) $ (12,926) Other information: Depreciation and amortization expense $ 12,771 $ 11,060 $ — $ 23,831 $ 12,271 $ 10,192 $ — $ 22,463 Interest expense (income), net $ 2,980 $ 2,826 $ (232) $ 5,574 $ 5,197 $ 3,065 $ (31) $ 8,231 Loss on extinguishment of debt $ 820 $ 569 $ — $ 1,389 $ — $ — $ — $ — Expenditures for long-lived assets $ 2,810 $ 9,089 $ — $ 11,899 $ 7,697 $ 8,864 $ — $ 16,561 Amortization of deferred financing fees $ 363 $ 182 $ 79 $ 624 $ 455 $ 113 $ — $ 568 As of September 30, 2017, total assets for the Seven Seas Water and Quench reportable segments were $259.0 million and $204.4 million, respectively. As of December 31, 2016, total assets for the Seven Seas Water and Quench reportable segments were $274.2 million and $193.4 million, respectively. As of September 30, 2017 and December 31, 2016, total assets for Corporate and Other were $95.6 million and $69.0 million, respectively.

Significant Concentrations, Ris

Significant Concentrations, Risks and Uncertainties	9 Months Ended
	Sep. 30, 2017
Significant Concentrations, Risks and Uncertainties
Significant Concentrations, Risks and Uncertainties	11. Significant Concentrations, Risks and Uncertainties The Company is exposed to interest rate risk resulting from its variable rate loans outstanding that adjust with movements in LIBOR or the lending bank’s prime lending rate. For the three and nine months ended September 30, 2017, a significant portion of the Company’s revenues were derived from territories and countries in the Caribbean region. Demand for water in the Caribbean region is impacted by, among other things, levels of rainfall, natural disasters or other catastrophic events, tourism industry and demand from our industrial clients. Destruction caused by tropical storms and hurricanes, high levels of rainfall, downturn in the level of tourism and demand for real estate could all adversely impact the future performance of the Company as well as cause delays in collections from the Company’s customers. At September 30, 2017, a significant portion of the Company’s property, plant and equipment is located in the Caribbean region. The Caribbean islands are situated in a geography where tropical storms and hurricanes occur with regularity, especially during certain times of the year. The Company designs its plant facilities to withstand such conditions; however, a major storm could result in plant damage or periods of reduced consumption or unavailability of electricity or source seawater needed to produce water in one or more of our locations. It is the Company’s policy to maintain adequate levels of property and casualty insurance; however, the Company only insures one plant for wind. The operation of desalination plants requires significant amounts of electricity which typically is provided by the local utility of the jurisdiction in which the plant is located. A shortage of electricity supply caused by force majeure or material increases in electricity costs could adversely impact the Company’s operating results. To mitigate the risk of electricity cost increases, the Company has generally contracted with major customers for those cost increases to be borne by the customers and has invested in energy efficient technology. Management believes that rising energy costs and availability of its supply of electricity would not have a material adverse effect on its future performance.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Summary of significant accounting policies
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, certain information and footnotes normally required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring adjustments) considered necessary for a fair presentation of the Company’s unaudited condensed consolidated balance sheet as of September 30, 2017, the unaudited condensed consolidated statements of operations and comprehensive income for the three and nine months ended September 30, 2017 and 2016 and the unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2017 and 2016. The unaudited condensed consolidated balance sheet as of December 31, 2016 was derived from the audited consolidated balance sheet as of December 31, 2016, as presented in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. The unaudited condensed consolidated financial statements include the accounts of AquaVenture Holdings Limited and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include: accounting for goodwill and identifiable intangible assets and any related impairment; property, plant and equipment and any related impairment; long‑term contract costs and any related impairment; share‑based compensation; allowance for doubtful accounts; obligations for asset retirement; and deferred income taxes. Although these and other estimates and assumptions are based on the best available information, actual results could be materially different from these estimates.

Business Combinations and Ass19

Business Combinations and Asset Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combination, Separately Recognized Transactions [Line Items]
Pro Forma Financial Information	Three months ended Nine months ended September 30, September 30, 2017 2016 2017 2016 Revenues $ 31,077 $ 31,300 $ 93,530 $ 90,848 Net loss $ (7,410) $ (3,502) $ (18,593) $ (9,282) Loss per share(1) $ (0.28) $ (0.70)
Wellsys
Business Combination, Separately Recognized Transactions [Line Items]
Schedule of business combination preliminary purchase price allocation	The following table summarizes the preliminary purchase price allocated to the fair value of assets acquired, including intangibles recorded in conjunction with the business combination, and liabilities assumed (in thousands): Assets acquired: Trade receivables $ 321 Inventory 884 Intangible assets 4,300 Goodwill 1,503 Total assets acquired 7,008 Liabilities assumed: Customer deposits (153) Total liabilities assumed (153) Total purchase price $ 6,855
Quench USA Holdings LLC
Business Combination, Separately Recognized Transactions [Line Items]
Schedule of business combination preliminary purchase price allocation	The following table summarizes the amounts allocated to the fair value of net assets acquired (in thousands): Trade receivables $ 31 Property, plant and equipment 325 Customer relationships 1,690 Deferred revenue (28) Accrued liabilities (12) Net assets acquired $ 2,006

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Measurements
Schedule of fair value measurements	The Company’s fair value measurements as of September 30, 2017 and December 31, 2016 were as follows (in thousands): Quoted Prices in Significant Active Markets Other Significant Asset/ for Identical Observable Unobservable Assets/Liabilities Measured at Fair Value (Liability) Assets (Level 1) Inputs (Level 2) Inputs (Level 3) As of September 30, 2017 Recurring basis: Money market funds $ 13,571 $ 13,571 $ — $ — U.S. Treasury securities $ 83,791 $ 83,791 $ — $ — As of December 31, 2016 Recurring basis: Money market funds $ 29,523 $ 29,523 $ — $ — U.S. Treasury securities $ 24,777 $ 24,777 $ — $ —

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Long-term Debt
Schedule of long-term debt	September 30, December 31, 2017 2016 Corporate Credit Agreement $ 150,000 $ — BVI Loan Agreement 27,076 31,432 Vehicle financing 1,513 1,783 Trinidad Credit Agreement — 24,071 USVI Credit Agreement — 12,923 Quench Loan Agreement — 40,000 Curaçao Credit Facility — 35,000 Total face value of long-term debt $ 178,589 $ 145,209 Face value of long-term debt, current $ 6,063 $ 27,963 Less: Current portion of unamortized debt discounts and deferred financing fees — — Current portion of long-term debt, net of debt discounts and deferred financing fees $ 6,063 $ 27,963 Face value of long-term debt, non-current $ 172,526 $ 117,246 Less: Non-current portion of unamortized debt discounts and deferred financing fees (3,543) (1,493) Long-term debt, net of debt discounts and deferred financing fees $ 168,983 $ 115,753
Schedule of maturities of long-term debt	Maturities of long ‑ term debt were as follows as of September 30, 2017 (in thousands): Amount Due Remainder of 2017 $ 1,217 2018 6,409 2019 6,018 2020 6,073 2021 156,037 2022 and thereafter 2,835 Total face value of long-term debt $ 178,589

Loss per Share (Tables)

Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Loss per Share
Schedule of net loss per share	The following table provides information for calculating net loss applicable to ordinary shareholders (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2017 2017 Numerator: Net loss $ (7,567) $ (19,220) Denominator: Weighted-average ordinary shares outstanding - basic and diluted 26,441 26,414 Loss per share - basic and diluted $ (0.29) $ (0.73)

Cash Flow Information (Tables)

Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2017
Cash Flow Information
Supplemental cash flow information	Supplemental cash flow information is as follows (in thousands): Nine Months Ended September 30, 2017 2016 Cash paid during the period: Income taxes, net $ 1,138 $ 71 Interest, net $ 8,381 $ 7,500 Non-Cash Transaction Information: Non-cash capital expenditures $ 611 $ 1,078 Unpaid offering costs $ — $ 1,113 Unpaid debt financing costs $ 111 $ — The components of total ending cash for the periods presented in the unaudited condensed consolidated statement of cash flows are as follows (in thousands): As of September 30, 2017 2016 Cash and cash equivalents $ 118,070 $ 25,000 Restricted cash, current 166 283 Restricted cash, non-current 4,147 5,558 $ 122,383 $ 30,841

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting
Schedule of information by reportable segment	The following table provides information by reportable segment and a reconciliation to the consolidated results for the three months ended September 30, 2017 and 2016 (in thousands): Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Seven Seas Corporate Seven Seas Corporate Water Quench & Other Total Water Quench & Other Total Revenues: Bulk water $ 14,206 $ — $ — $ 14,206 $ 13,879 $ — $ — $ 13,879 Rental — 13,428 — 13,428 — 12,396 — 12,396 Other — 2,259 — 2,259 — 2,583 — 2,583 Total revenues 14,206 15,687 — 29,893 13,879 14,979 — 28,858 Gross profit: Bulk water 6,302 — — 6,302 6,196 — — 6,196 Rental — 7,345 — 7,345 — 7,140 — 7,140 Other — 874 — 874 — 1,227 — 1,227 Total gross profit 6,302 8,219 — 14,521 6,196 8,367 — 14,563 Selling, general and administrative expenses 6,607 9,828 1,299 17,734 4,962 9,602 548 15,112 Income (loss) from operations (305) (1,609) (1,299) (3,213) 1,234 (1,235) (548) (549) Other (expense) income, net (1,764) (1,359) (385) (3,508) (1,896) (1,027) 35 (2,888) Loss before income tax expense (2,069) (2,968) (1,684) (6,721) (662) (2,262) (513) (3,437) Income tax expense 790 56 — 846 1,275 — — 1,275 Net loss $ (2,859) $ (3,024) $ (1,684) $ (7,567) $ (1,937) $ (2,262) $ (513) $ (4,712) Other information: Depreciation and amortization expense $ 4,278 $ 3,856 $ — $ 8,134 $ 4,183 $ 3,519 $ — $ 7,702 Interest expense (income), net $ 880 $ 790 $ 385 $ 2,055 $ 1,806 $ 1,027 $ (31) $ 2,802 Loss on extinguishment of debt $ 820 $ 569 $ — $ 1,389 $ — $ — $ — $ — Expenditures for long-lived assets $ 1,108 $ 3,135 $ — $ 4,243 $ 1,810 $ 3,104 $ — $ 4,914 Amortization of deferred financing fees $ 93 $ 37 $ 79 $ 209 $ 150 $ 47 $ — $ 197 The following table provides information by reportable segment and a reconciliation to the consolidated results for the nine months ended September 30, 2017 and 2016 (in thousands): Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Seven Seas Corporate Seven Seas Corporate Water Quench & Other Total Water Quench & Other Total Revenues: Bulk water $ 43,238 $ — $ — $ 43,238 $ 40,951 $ — $ — $ 40,951 Rental — 39,238 — 39,238 — 36,153 — 36,153 Other — 6,318 — 6,318 — 7,147 — 7,147 Total revenues 43,238 45,556 — 88,794 40,951 43,300 — 84,251 Gross profit: Bulk water 17,335 — — 17,335 17,975 — — 17,975 Rental — 21,730 — 21,730 — 20,164 — 20,164 Other — 2,626 — 2,626 — 3,284 — 3,284 Total gross profit 17,335 24,356 — 41,691 17,975 23,448 — 41,423 Selling, general and administrative expenses 18,692 28,988 3,284 50,964 14,003 27,718 1,543 43,264 Income (loss) from operations (1,357) (4,632) (3,284) (9,273) 3,972 (4,270) (1,543) (1,841) Other (expense) income, net (4,139) (3,395) 232 (7,302) (5,428) (3,065) 41 (8,452) Loss before income tax expense (5,496) (8,027) (3,052) (16,575) (1,456) (7,335) (1,502) (10,293) Income tax expense 2,424 221 — 2,645 2,633 — — 2,633 Net loss $ (7,920) $ (8,248) $ (3,052) $ (19,220) $ (4,089) $ (7,335) $ (1,502) $ (12,926) Other information: Depreciation and amortization expense $ 12,771 $ 11,060 $ — $ 23,831 $ 12,271 $ 10,192 $ — $ 22,463 Interest expense (income), net $ 2,980 $ 2,826 $ (232) $ 5,574 $ 5,197 $ 3,065 $ (31) $ 8,231 Loss on extinguishment of debt $ 820 $ 569 $ — $ 1,389 $ — $ — $ — $ — Expenditures for long-lived assets $ 2,810 $ 9,089 $ — $ 11,899 $ 7,697 $ 8,864 $ — $ 16,561 Amortization of deferred financing fees $ 363 $ 182 $ 79 $ 624 $ 455 $ 113 $ — $ 568

Description of the Business - C

Description of the Business - Corporate Reorganization (Details)	Jul. 01, 2016shares	Sep. 30, 2017segment
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of operating platforms | segment		2
AquaVenture Holdings Curacao | AquaVenture Holdings LLC | Transaction Between Entities Under Common Control | Ordinary shares
Business Acquisition [Line Items]
Shares issued to acquire predecessor during reorganization | shares	1,000,000

Description of the Business - I

Description of the Business - Initial Public Offering (Details) - IPO $ / shares in Units, $ in Millions	Oct. 12, 2016USD ($)$ / sharesshares
Subsidiary, Sale of Stock [Line Items]
Ordinary shares issued | shares	7,475,000
Public offering price (in dollars per share) | $ / shares	$ 18
Proceeds from IPO, net | $	$ 118.8

Business Combinations and Ass27

Business Combinations and Asset Acquisitions - Wellsys (Details) - USD ($) $ in Thousands	Sep. 08, 2017	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Assets acquired:
Goodwill		$ 99,526	$ 99,526	$ 99,526	$ 98,023
Wellsys
Business Acquisition [Line Items]
Working capital adjustment	$ 165
Assets acquired:
Trade receivables	321
Inventory	884
Intangible assets	4,300
Goodwill	1,503
Total assets acquired	7,008
Liabilities assumed:
Customer deposits	(153)
Total liabilities assumed	(153)
Net assets acquired	$ 6,855
Quench USA Holdings LLC | Wellsys
Liabilities assumed:
Revenue		400
Net income		$ 12
Selling, General and Administrative Expenses | Wellsys
Business Acquisition [Line Items]
Transaction related costs			$ 21	$ 21

Business Combinations and Ass28

Business Combinations and Asset Acquisitions - ADB (Details) $ in Thousands, gal in Millions	Sep. 08, 2017USD ($)	Oct. 31, 2016USD ($)gal	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Wellsys
Business Acquisition [Line Items]
Working capital adjustment	$ 165
AVH Peru | ADB
Business Acquisition [Line Items]
Percentage acquired		100.00%
Purchase price		$ 46,500
Working capital adjustment		$ 186
Desalination infrastructure capacity (in gallons) | gal		2.7
AVH Peru | ADB | Accrued liabilities
Business Acquisition [Line Items]
Purchase price allocation adjustment liability			$ 900
AVH Peru | ADB | Prepaids and other assets
Business Acquisition [Line Items]
Purchase price allocation adjustment asset			900
Selling, General and Administrative Expenses | Wellsys
Business Acquisition [Line Items]
Transaction related costs			$ 21		$ 21
Selling, General and Administrative Expenses | AVH Peru | ADB
Business Acquisition [Line Items]
Transaction related costs				$ 400		$ 900

Business Combinations and Ass29

Business Combinations and Asset Acquisitions - Proforma financial information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Oct. 05, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition, Pro Forma Information [Abstract]
Weighted-average shares outstanding			0
ADB | AquaVenture Water Corporation
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 31,077	$ 31,300		$ 93,530	$ 90,848
Net loss	$ (7,410)	$ (3,502)		$ (18,593)	$ (9,282)
Loss per share	$ (0.28)			$ (0.70)

Business Combinations and Ass30

Business Combinations and Asset Acquisitions - Pure Water Innovations Inc (Details) - Quench Usa Inc - Pure Water Innovations Inc - USD ($) $ in Thousands	Jun. 01, 2017	Sep. 30, 2017
Business Acquisition [Line Items]
Purchase price	$ 2,000
Acquisition contingent consideration	50
Assets acquired:
Trade receivables	31
Property, plant and equipment	325
Deferred revenue	(28)
Accrued liabilities	(12)
Net assets acquired	2,006
Customer Relationships
Assets acquired:
Customer relationships	$ 1,690
Weighted average useful life of acquired customer relationships		12 years

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Asset transfers out of Level 1 into Level 2	$ 0	$ 0
Assets transfers out of Level 2 into Level 1	0	0
Asset transfers into (out of) Level 3	0	0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Money market funds	13,571	13,571	$ 29,523
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Money market funds	13,571	13,571	29,523
Fair Value, Measurements, Recurring | US Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Held-to-maturity securities	83,791	83,791	24,777
Fair Value, Measurements, Recurring | US Treasury securities | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Held-to-maturity securities	$ 83,791	$ 83,791	$ 24,777

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt - Table (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total carrying value of long-term debt	$ 178,589	$ 145,209
Face value of long-term debt, current	6,063	27,963
Current portion of long-term debt, net of debt discounts and deferred financing fees	6,063	27,963
Face value of long-term debt, non-current	172,526	117,246
Less: Non-current portion of unamortized debt discounts and deferred financing fees	(3,543)	(1,493)
Long-term debt, net of debt discounts and deferred financing fees	168,983	115,753
Corporate Credit Agreement
Debt Instrument [Line Items]
Total carrying value of long-term debt	150,000
BVI Loan Agreement
Debt Instrument [Line Items]
Total carrying value of long-term debt	27,076	31,432
Vehicle Financing
Debt Instrument [Line Items]
Total carrying value of long-term debt	$ 1,513	1,783
Trinidad Credit Facility
Debt Instrument [Line Items]
Total carrying value of long-term debt		24,071
USVI Credit Agreement
Debt Instrument [Line Items]
Total carrying value of long-term debt		12,923
Quench Loan Agreement
Debt Instrument [Line Items]
Total carrying value of long-term debt		40,000
Curacao Credit Facility
Debt Instrument [Line Items]
Total carrying value of long-term debt		$ 35,000

Long-Term Debt - Corporate Cred

Long-Term Debt - Corporate Credit Agreement (Details) $ in Thousands	Aug. 04, 2017USD ($)item	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ (1,389)	$ (1,389)
Corporate Credit Agreement
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 150,000
Weighted average interest rate		7.30%	7.30%
Proceeds from credit facility	$ 100,000
Corporate Credit Agreement | LIBOR
Debt Instrument [Line Items]
Variable rate spread (as a percent)	6.00%
Corporate Credit Agreement | Minimum | LIBOR
Debt Instrument [Line Items]
Variable rate spread (as a percent)	1.00%
USVI Credit Agreement
Debt Instrument [Line Items]
Number of Banks | item	2

Long-Term Debt - BVI Loan Agree

Long-Term Debt - BVI Loan Agreement (Details) - BVI Loan Agreement - Seven Seas Water	Aug. 04, 2017	Sep. 30, 2017
Debt Instrument [Line Items]
Weighted average interest rate		4.30%
LIBOR
Debt Instrument [Line Items]
Variable rate spread (as a percent)	3.00%
Variable rate basis spread reduction	50.00%

Long-Term Debt - Maturities of

Long-Term Debt - Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Long-term Debt
Remainder of 2017	$ 1,217
2,018	6,409
2,019	6,018
2,020	6,073
2,021	156,037
2022 and thereafter	2,835
Total face value of long-term debt	$ 178,589	$ 145,209

Share-Based Compensation - Acti

Share-Based Compensation - Activity of options to purchase Ordinary shares (Details) shares in Thousands	Jan. 01, 2017shares	Sep. 30, 2017$ / sharesshares	Sep. 22, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Vesting Period		0 years
Ordinary Share Units | 2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Aggregate number of shares by class authorized for grant under the Equity Incentive Plan	6,100		5,000
Annual percentage increase in shares available for issuance	4
Participants Stock Options | Ordinary Share Units | 2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Granted		62
Granted (in dollars per share) | $ / shares		$ 16.48
First Anniversary | Participants Stock Options | Ordinary Share Units | 2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Vesting Period		4 years
Vesting Percentage		25.00%
Thereafter | Participants Stock Options | Ordinary Share Units | 2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Vesting Period		3 years
Vesting Percentage		75.00%

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Awards Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vesting Period			0 years
Allocated Share-based Compensation Expense	$ 3,100	$ 400	$ 9,100	$ 1,500
Tax benefit	$ 0	0	$ 0	0
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted in period			57,000
Vesting Period			1 year
First Anniversary | All other restricted share units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vesting Period			4 years
Vesting Percentage			25.00%
Thereafter | All other restricted share units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vesting Period			3 years
Vesting Percentage			75.00%
2016 ESPP
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of ordinary shares issued	6,000		6,000
Ordinary shares issued			$ 400
2016 ESPP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Percentage of purchase price of ordinary shares			85.00%
Independent Directors Deferred Compensation Program
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Phantom shares awarded percentage			120.00%
Number of ordinary shares issued			1
Independent Directors Deferred Compensation Program | Phantom Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding ending balance	3,000		3,000
Number of ordinary shares issued			3,000
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Allocated Share-based Compensation Expense	$ 3,000	400	$ 8,800	1,500
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Allocated Share-based Compensation Expense	$ 100	$ 0	$ 300	$ 0

Loss per Share (Details)

Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Oct. 05, 2016
Common stock outstanding	26,452		26,452		26,388
Numerator:
Net loss	$ (7,567)	$ (4,712)	$ (19,220)	$ (12,926)
Denominator:
Weighted-average ordinary shares outstanding - basic and diluted	26,441		26,414
Loss per share - basic and diluted	$ (0.29)		$ (0.73)
Ordinary Share Units
Common stock outstanding						0
Denominator:
Weighted average outstanding share awards excluded from the calculation of diluted earnings per share	3,900		3,900

Commitments and Contingencies -

Commitments and Contingencies - Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Accretion of obligation	$ 13	$ 12	$ 37	$ 31
One contract extension	0		0
Gain on revaluation of ARO		$ 55		$ 55
Accrued Liabilities
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Current portion of the ARO liabilities	26		26		$ 0
Other Noncurrent Liabilities
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Long-term portion of the ARO liabilities	$ 1,100		$ 1,100		$ 1,100

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Cash paid during the period:
Income taxes, net	$ 1,138	$ 71
Interest, net	8,381	7,500
Non-Cash Transaction Information:
Non-cash capital expenditures	611	1,078
Unpaid offering costs		1,113
Unpaid debt financing costs	111
Components of Total Ending Cash
Cash and cash equivalents	118,070	25,000	$ 95,334
Restricted cash, current	166	283	166
Restricted cash, non-current	4,147	5,558	5,895
Cash, cash equivalents and restricted cash	$ 122,383	$ 30,841	$ 101,395	$ 25,026

Segment Reporting - Information

Segment Reporting - Information by Reportable Segment (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Reportable segment and reconciliation
Number of operating segments | segment			2
Number of reportable segments | segment			2
Bulk water	$ 14,206	$ 13,879	$ 43,238	$ 40,951
Rental	13,428	12,396	39,238	36,153
Other	2,259	2,583	6,318	7,147
Total revenues	29,893	28,858	88,794	84,251
Bulk water	6,302	6,196	17,335	17,975
Rental	7,345	7,140	21,730	20,164
Other	874	1,227	2,626	3,284
Total gross profit	14,521	14,563	41,691	41,423
Selling, general and administrative expenses	17,734	15,112	50,964	43,264
Loss from operations	(3,213)	(549)	(9,273)	(1,841)
Other (expense) income, net	(3,508)	(2,888)	(7,302)	(8,452)
Loss before income tax expense	(6,721)	(3,437)	(16,575)	(10,293)
Income tax expense	846	1,275	2,645	2,633
Net loss	(7,567)	(4,712)	(19,220)	(12,926)
Other information
Depreciation and amortization	8,134	7,702	23,831	22,463
Interest expense (income), net	2,055	2,802	5,574	8,231
Loss on extinguishment of debt	1,389		1,389
Expenditures for long-lived assets	4,243	4,914	11,899	16,561
Amortization of deferred financing fees	209	197	624	568
Assets	558,972		558,972		$ 536,696
Seven Seas Water
Reportable segment and reconciliation
Bulk water	14,206	13,879	43,238	40,951
Total revenues	14,206	13,879	43,238	40,951
Bulk water	6,302	6,196	17,335	17,975
Total gross profit	6,302	6,196	17,335	17,975
Selling, general and administrative expenses	6,607	4,962	18,692	14,003
Loss from operations	(305)	1,234	(1,357)	3,972
Other (expense) income, net	(1,764)	(1,896)	(4,139)	(5,428)
Loss before income tax expense	(2,069)	(662)	(5,496)	(1,456)
Income tax expense	790	1,275	2,424	2,633
Net loss	(2,859)	(1,937)	(7,920)	(4,089)
Other information
Depreciation and amortization	4,278	4,183	12,771	12,271
Interest expense (income), net	880	1,806	2,980	5,197
Loss on extinguishment of debt	820		820
Expenditures for long-lived assets	1,108	1,810	2,810	7,697
Amortization of deferred financing fees	93	150	363	455
Assets	259,000		259,000		274,200
Quench USA Holdings LLC
Reportable segment and reconciliation
Rental	13,428	12,396	39,238	36,153
Other	2,259	2,583	6,318	7,147
Total revenues	15,687	14,979	45,556	43,300
Rental	7,345	7,140	21,730	20,164
Other	874	1,227	2,626	3,284
Total gross profit	8,219	8,367	24,356	23,448
Selling, general and administrative expenses	9,828	9,602	28,988	27,718
Loss from operations	(1,609)	(1,235)	(4,632)	(4,270)
Other (expense) income, net	(1,359)	(1,027)	(3,395)	(3,065)
Loss before income tax expense	(2,968)	(2,262)	(8,027)	(7,335)
Income tax expense	56		221
Net loss	(3,024)	(2,262)	(8,248)	(7,335)
Other information
Depreciation and amortization	3,856	3,519	11,060	10,192
Interest expense (income), net	790	1,027	2,826	3,065
Loss on extinguishment of debt	569		569
Expenditures for long-lived assets	3,135	3,104	9,089	8,864
Amortization of deferred financing fees	37	47	182	113
Assets	204,400		204,400		193,400
Corporate & Other
Reportable segment and reconciliation
Selling, general and administrative expenses	1,299	548	3,284	1,543
Loss from operations	(1,299)	(548)	(3,284)	(1,543)
Other (expense) income, net	(385)	35	232	41
Loss before income tax expense	(1,684)	(513)	(3,052)	(1,502)
Net loss	(1,684)	(513)	(3,052)	(1,502)
Other information
Interest expense (income), net	385	$ (31)	(232)	$ (31)
Amortization of deferred financing fees	79		79
Assets	$ 95,600		$ 95,600		$ 69,000