---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-111010"
form_type: "8-K"
ticker: "PCYO"
cik: "0000276720"
company_name: "PURE CYCLE CORP"
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:42:19.999997+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Pure Cycle FY2025 net income $13.1M (+13% YoY), EPS $0.54, oil & gas royalty +738%

## Summary
- Net income $13.1M vs $11.6M in FY2024; diluted EPS $0.54 vs $0.48 (up 12.5%).
- Revenue $26.1M (down 9% YoY) driven by lower lot sales; oil & gas royalty income surged 738% to $6.7M.
- 182 water/wastewater taps sold vs 73 in FY2024; average tap price ~$40,000.
- Lot sales $13.7M; Phase 2D expected complete in FY2026, Phase 2E by FY2027.
- Single-family rental: 14 homes operating; 5 new townhomes online; under contract for 40 more in FY2026.

## SEC filing metadata
- accession: 0001104659-25-111010
- form_type: 8-K
- ticker: PCYO
- cik: 0000276720
- company_name: PURE CYCLE CORP
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/276720/000110465925111010/0001104659-25-111010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/276720/000110465925111010/pcyo-20251112x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-111010
- JSON: https://secwatch.observer/filing/0001104659-25-111010.json
- Plain text: https://secwatch.observer/filing/0001104659-25-111010.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.