Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $452K | $1.23M | $6.96M | $20.4M | $25.9M | $17.1M | $23.0M | $14.6M | $28.7M | $26.1M |
| Revenue growth | — | 171.5% | 466.8% | 192.6% | 27.0% | -33.8% | 34.3% | -36.6% | 97.1% | -9.3% |
| Gross profit | -$76.6K | $424K | $2.80M | $6.42M | $7.54M | $10.7M | $16.4M | $8.04M | $19.8M | $16.0M |
| Gross margin | -16.9% | 34.6% | 40.2% | 31.5% | 29.2% | 62.6% | 71.2% | 55.1% | 68.7% | 61.4% |
| Operating income | -$2.18M | -$2.13M | -$309K | $3.00M | $1.51M | $5.27M | $10.1M | $2.07M | $12.2M | $7.67M |
| Operating margin | -482.1% | -173.6% | -4.4% | 14.7% | 5.9% | 30.8% | 43.9% | 14.2% | 42.6% | 29.4% |
| Net income | -$1.31M | -$1.71M | $415K | $4.81M | $6.75M | $20.1M | $9.62M | $4.70M | $11.6M | $13.1M |
| Net margin | -289.9% | -139.3% | 6.0% | 23.6% | 26.1% | 117.4% | 41.8% | 32.2% | 40.4% | 50.3% |
| EPS (diluted) | -$0.06 | -$0.07 | $0.02 | $0.20 | $0.28 | $0.83 | $0.40 | $0.19 | $0.48 | $0.54 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$271K | -$1.05M | $482.00 | $3.53M | $20.7M | $3.46M | $17.5M | -$2.34M | $2.31M | $13.2M |
| Capital expenditures | $472K | $95.4K | $445K | — | — | — | — | — | — | — |
| Free cash flow | -$743K | -$1.15M | -$445K | — | — | — | — | — | — | — |
| Share buybacks | — | — | — | — | — | — | — | — | $581K | $397K |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.70M | $5.58M | $11.6M | $4.48M | $21.8M | $20.1M | $34.9M | $26.0M | $22.1M | $21.9M |
| Total assets | $70.9M | $69.8M | $71.9M | $83.7M | $89.8M | $117M | $129M | $133M | $147M | $162M |
| Total liabilities | $1.88M | $2.28M | $2.45M | $8.99M | $7.72M | $14.4M | $16.2M | $15.0M | $17.7M | $19.5M |
| Long-term debt | — | — | — | — | — | — | — | — | $6.88M | $6.38M |
| Shareholders' equity | $69.0M | $67.5M | $69.5M | $74.7M | $82.0M | $103M | $113M | $118M | $130M | $143M |
| Retained earnings | -$102M | -$104M | -$103M | -$97.7M | -$91.0M | -$70.9M | -$61.2M | -$56.5M | -$45.5M | -$32.8M |
| Shares (wtd avg diluted) | 23.8M | 23.8M | 23.9M | 24.0M | 24.1M | 24.1M | 24.2M | 24.1M | 24.1M | 24.2M |
Every figure is extracted from PURE CYCLE CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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