---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-009165"
form_type: "8-K"
ticker: "PCYO"
cik: "0000276720"
company_name: "PURE CYCLE CORP"
filed_at: "2025-07-10T23:59:59+00:00"
generated_at: "2026-05-18T08:48:44.839710+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Pure Cycle Q3 net income $2.3M ($0.09 EPS) vs $2.8M YoY; revenue falls to $5.1M

## Summary
- Q3 net income $2.3M ($0.09 diluted EPS) compared to $2.8M ($0.12) a year ago; revenue $5.1M vs $7.6M.
- Nine-month net income rose to $7.0M ($0.29 EPS) from $5.0M ($0.21) YoY; revenue $14.9M vs $16.2M.
- Oil and gas royalty income surged to $1.1M Q3 and $5.9M YTD from $0.4M and $0.5M, driven by six new wells.
- Water tap sales increased to $1.7M Q3 and $5.3M YTD as Phase 2B development progresses; 130 taps sold YTD.
- Cash & equivalents $14.4M; working capital $18.1M; 24th consecutive profitable quarter; Sky Ranch Phases 2C-2E in development.

## SEC filing metadata
- accession: 0001558370-25-009165
- form_type: 8-K
- ticker: PCYO
- cik: 0000276720
- company_name: PURE CYCLE CORP
- filed_at: 2025-07-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/276720/000155837025009165/0001558370-25-009165-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/276720/000155837025009165/pcyo-20250709x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-009165
- JSON: https://secwatch.observer/filing/0001558370-25-009165.json
- Plain text: https://secwatch.observer/filing/0001558370-25-009165.txt

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