What is Pure Cycle's second subphase — deferred revenue?

Pure Cycle (PCYO) reported second subphase — deferred revenue of $500K in Q2 2025.

What does second subphase — deferred revenue mean?

Represents payments received from customers for which the associated performance obligations have not yet been satisfied. This acts as a liability on the balance sheet that will be converted to revenue as construction progresses.

Pure Cycle PCYO Second Subphase — Deferred Revenue

Other product segments

Third Subphase

$2.9M+314%

First Subphase

$0-100%

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow-$4.2M—

CapEx$303.0K+2,425%

Free cash flow-$4.5M—

Valuation

See full

Market cap$258.15M+3.7%

Where this comes from

Reported directly by Pure Cycle in its filing.

Tagged under the XBRL concept us-gaap:DeferredRevenue.

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

Ask your AI about Pure Cycle's second subphase — deferred revenue.

Connect your AI assistant and compare segments, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Pure Cycle's second subphase — deferred revenue?: Pure Cycle (PCYO) reported second subphase — deferred revenue of $500K in Q2 2025.
What does second subphase — deferred revenue mean?: Represents payments received from customers for which the associated performance obligations have not yet been satisfied. This acts as a liability on the balance sheet that will be converted to revenue as construction progresses.