---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-018008"
form_type: "8-K"
ticker: "PCYO"
cik: "0000276720"
company_name: "PURE CYCLE CORP"
filed_at: "2022-11-17T23:59:59+00:00"
generated_at: "2026-06-21T16:56:21.149124+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pure Cycle reports FY2022 net income of $9.6M, down from $20.1M YoY; revenue up 34% to $23M

## Summary
- Net income of $9.6M ($0.40 diluted EPS) vs $20.1M ($0.83) in fiscal 2021; revenue $23.0M (up 34% from $17.1M).
- Record water deliveries of 404.9M gallons, up 57% YoY, driven by oil & gas and Sky Ranch growth.
- Board authorized stock repurchase of up to 200,000 shares in open market; no shares repurchased yet.
- Single-family rental: 3 homes rented, 11 under construction; fourth unit expected Q1 fiscal 2023.
- All 229 lots delivered in Phase 2A of Sky Ranch; lot prices up ~40% vs Phase 1.

## SEC filing metadata
- accession: 0001558370-22-018008
- form_type: 8-K
- ticker: PCYO
- cik: 0000276720
- company_name: PURE CYCLE CORP
- filed_at: 2022-11-17T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/276720/000155837022018008/0001558370-22-018008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/276720/000155837022018008/pcyo-20221114x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-018008
- JSON: https://secwatch.observer/filing/0001558370-22-018008.json
- Plain text: https://secwatch.observer/filing/0001558370-22-018008.txt

## Key facts
- Earnings Releases
  PURE CYCLE CORP reported the year ended August 31, 2022 results: revenue $23.0 million, net income $9.6 million, EPS $0.40.
  - Period: the year ended August 31, 2022
  - Revenue: $23.0 million
  - Net income: $9.6 million
  - EPS: $0.40
  - Result: reported results
  source text: made at Sky Ranch, with the continued expansion of our water resource business and the successful launch of our home rental business.” ​ Fiscal 2022 Highlights ​ Ø Revenues of $23.0 million which drove p re-tax income of $12.7 million Ø EBITDA of $14.9 million o Reconciliation of net income to EBITDA is as follows: net income of $9.6M plus interest expense of $0.1M
  evidence_url: https://www.sec.gov/Archives/edgar/data/276720/000155837022018008/0001558370-22-018008-index.htm

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