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Pure Cycle PCYO Q1 2026 earnings

Reported January 7, 2026 · After market close

Revenue$9.1M
EPS$0.19

Next report

Date not yet announced

Financials

Q1 2026

Income statement

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Revenue$9.1M+58.8%
Gross profit$6.3M+70.5%
Operating income$4.4M+155%
Net income$4.6M+16.0%
EPS (diluted)$0.19+18.8%

Balance sheet

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Cash & equivalents$17.1M-10.0%
Total debt$8.0M+14.9%
Total equity$147.5M+10.4%
Total assets$168.1M+12.3%

Cash flow

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Operating cash flow-$979.0K-117%
CapEx$150.0K-46.6%
Free cash flow-$1.1M-121%

Valuation & ratios

Valuation

as of 11/30/25
See full
Market cap$274.04M-21.8%
Enterprise value$264.9M-21.7%
P/E19.9×-6.0×
P/S9.3×-2.7×

Profitability

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Gross margin63.2%-5.8pp
Operating margin35.1%-6.9pp
Net margin46.6%+0.3pp

Returns & leverage

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Return on equity9.8%-0.9pp
Debt / equity0.1×0.0×
Current ratio2.3×-1.3×

Segments

By product

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Lot Sales$6.0M+160%
Water Tap Fee$1.4M+16.7%
Metered Water And Wastewater Usage Fees$800.0K-33.3%
Project Management Fees$300.0K0.0%
Wastewater Tap Fee$300.0K0.0%

By segment

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Land Development$6.5M+135%
Water And Wastewater Resource Development$2.5M-13.1%

FAQ

When did Pure Cycle report Q1 2026 earnings?
Pure Cycle (PCYO) reported Q1 2026 earnings on January 7, 2026 after market close.
What were Pure Cycle's Q1 2026 revenue and EPS?
Pure Cycle reported revenue of $9.1M and eps of $0.19 for Q1 2026.
How did Pure Cycle's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 58.8% from $5.8M a year earlier and eps grew 18.8% from $0.16.
Where can I find Pure Cycle's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-001988) and the 10-Q periodic report (0001104659-26-001739) directly on SEC EDGAR. The filing index links above go to sec.gov.