Pure Cycle Q2 net income $0.8M, revenue $4.0M; Sky Ranch development expands

PURE CYCLE CORP

2025-Q2 EPS reported $0.20 revenue$9,747,000

Revenue $4.0M (+25% YoY); net income $0.8M vs $0.1M; EPS $0.03 vs $0.00.
Water/wastewater tap sales $2.1M (Q2) and $3.6M (six months); 895 taps sold to date.
Oil & gas royalty income $1.9M (Q2) and $4.7M (six months) from 6 new wells.
Sky Ranch phases 2C (228 lots) and 2D (218 lots) under development; Phase 2E planned.
Cash $16.8M, working capital $19.8M; share repurchase program ongoing.

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