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Pure Cycle PCYO First Subphase — Contract With Customer Cumulative Revenue Recognized

Other financials

Income statement

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Revenue$5.2M+29.4%
Gross profit$2.8M+82.3%
Operating income$263.0K+120%
Net income$1.1M+36.6%
EPS (diluted)$0.05+66.7%

Balance sheet

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Cash & equivalents$4.8M-70.8%
Total debt$8.0M+15.1%
Total equity$148.7M+10.6%
Total assets$166.6M+11.3%

Cash flow

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Operating cash flow-$4.2M—
CapEx$303.0K+2,425%
Free cash flow-$4.5M—

Valuation

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Market cap$258.15M+3.7%

Where this comes from

Reported directly by Pure Cycle in its filing.

Tagged under the XBRL concept pcyo:ContractWithCustomerCumulativeRevenueRecognized.

The official record: Pure Cycle’s 10-K, filed November 12, 2025, on SEC EDGAR. View the filing →

Questions, answered.

What is Pure Cycle's first subphase — contract with customer cumulative revenue recognized?
Pure Cycle (PCYO) reported first subphase — contract with customer cumulative revenue recognized of $18.4M in Q2 2025.
What does first subphase — contract with customer cumulative revenue recognized mean?
The total revenue recognized to date from land development contracts based on the percentage of completion of the project. It tracks the financial realization of development milestones and the conversion of work-in-progress into earned income.