---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-005941"
form_type: "8-K"
ticker: "PCYO"
cik: "0000276720"
company_name: "PURE CYCLE CORP"
filed_at: "2023-04-14T23:59:59+00:00"
generated_at: "2026-06-17T02:13:32.665616+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pure Cycle Q2 revenue $3.0M, net income $189K; water deliveries down 92% YoY

## Summary
- Q2 revenue $3.0M, down 36% YoY from $4.7M; net income $189K vs $1.693M.
- Water deliveries plunged 92% to 10.6M gallons in Q2; six-month deliveries down 64%.
- EBITDA fell to $0.9M from $2.7M; EPS diluted $0.01 vs $0.07; cash $22.5M.
- Sky Ranch Phase 2B construction started; received $4.1M milestone payments post-period.
- Acquired water wells in Lost Creek Basin for $0.3M; share buyback authorized but no repurchases yet.

## SEC filing metadata
- accession: 0001558370-23-005941
- form_type: 8-K
- ticker: PCYO
- cik: 0000276720
- company_name: PURE CYCLE CORP
- filed_at: 2023-04-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/276720/000155837023005941/0001558370-23-005941-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/276720/000155837023005941/pcyo-20230412x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-005941
- JSON: https://secwatch.observer/filing/0001558370-23-005941.json
- Plain text: https://secwatch.observer/filing/0001558370-23-005941.txt

## Key facts
- Earnings Releases
  PURE CYCLE CORP reported financial results for the three and six months ended February 28, 2023.
  - Period: the three and six months ended February 28, 2023
  - Result: reported results
  source text: On April 12, 2023, the Registrant issued a press release announcing its financial results for the three and six months ended February 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/276720/000155837023005941/0001558370-23-005941-index.htm

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