---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-000302"
form_type: "8-K"
ticker: "PCYO"
cik: "0000276720"
company_name: "PURE CYCLE CORP"
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:32:32.312744+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pure Cycle Q1 net income $2.1M, revenue $5.4M, up 315% YoY; 18th consecutive profitable quarter

## Summary
- Net income $2.1M ($0.09 EPS) vs $159K ($0.01) prior year; EBITDA $3.4M.
- Revenue $5.4M (up 315% YoY) driven by 270% lot sale increase and 300%+ water/wastewater revenue increase.
- Delivered 623 acre-feet of water vs 207 prior year, driven by oil & gas water sales.
- Sold 15 water/wastewater taps for $0.6M; Phase 2 tap revenue expected to exceed $20M over 3-5 years.
- Cash $21.8M; working capital $20.4M; 14 rental homes occupied, 17 more planned.

## SEC filing metadata
- accession: 0001558370-24-000302
- form_type: 8-K
- ticker: PCYO
- cik: 0000276720
- company_name: PURE CYCLE CORP
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/276720/000155837024000302/0001558370-24-000302-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/276720/000155837024000302/pcyo-20240112x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-000302
- JSON: https://secwatch.observer/filing/0001558370-24-000302.json
- Plain text: https://secwatch.observer/filing/0001558370-24-000302.txt

## Key facts
- Earnings Releases
  PURE CYCLE CORP reported the three months ended November 30, 2023 results: revenue $5.4 million, net income $2.1 million, EPS $0.09.
  - Period: the three months ended November 30, 2023
  - Revenue: $5.4 million
  - Net income: $2.1 million
  - EPS: $0.09
  - Result: reported results
  source text: water and wastewater revenue for the three months ended November 30, 2023, compared to 2022, due to an increase in oil and gas water sales. ​ Q1 2024 Highlights ​ Ø Revenues of $5.4 million, which drove p re-tax income of $2.8 million; Ø Net income of $2.1 million; Ø EBITDA of $3.4 million (see table below for re conciliation of net income to EBITDA); Ø Cash totaled
  evidence_url: https://www.sec.gov/Archives/edgar/data/276720/000155837024000302/0001558370-24-000302-index.htm

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