Core Insights - Pure Cycle Corporation reported a net income of $13.1 million for the fiscal year ended August 31, 2025, representing a 13% increase from the previous year, marking the eighth consecutive year of positive net income [1][5] - Earnings per fully diluted common share increased to $0.54, up from $0.48 in 2024, reflecting a 12.5% growth [1][5] - The company experienced a 738% increase in oil and gas royalty income, totaling $6.7 million, due to the completion of six wells at Sky Ranch [1][5] Financial Performance - Total revenue for the year was $26.1 million, a 9% decrease from $28.7 million in 2024 [5][9] - EBITDA for the year was reported at $20.2 million, an 11% increase from $18.2 million in 2024 [5][4] - Cash and cash equivalents stood at $21.9 million as of August 31, 2025 [5][15] Land Development - The company continues to develop its Sky Ranch Master Planned Community, with ongoing phases including Phase 2D expected to be completed in fiscal 2026 and Phase 2E anticipated for fiscal 2027 [1][12] - Lot sales revenue decreased to $13.7 million in 2025 from $16.0 million in 2024, attributed to delays in closing Phase 2D [17] - The number of lots delivered decreased due to these delays, but the company expects to complete the delivery of all 180 lots in Phase 2D during fiscal 2026 [17] Water and Wastewater Operations - Water deliveries decreased to 639 acre-feet in 2025 from 1,818 acre-feet in 2024, primarily due to reduced demand from oil and gas customers [16] - Water and wastewater tap sales increased significantly, with 182 taps sold in 2025 compared to 73 in 2024, generating $7.3 million in revenue [10][16] - The average price of a water and wastewater tap rose to approximately $40,000 in 2025 from $38,000 in 2024 [16] Single-Family Rentals - The single-family rental segment reported rental income from 14 homes, with plans to add five rental townhomes and 40 single-family detached homes in fiscal 2026 [13][18] - The overwhelming demand for rental homes at Sky Ranch is expected to lead to a total of 100 homes in Phase 2, with potential for more than 200 homes as development continues [13][14] Capital Management - The company is focused on growth and shareholder returns, prioritizing investment in development projects while maintaining liquidity for share repurchase and strategic initiatives [2]

Core Insights - Pure Cycle Corporation will participate in the ThinkEquity Conference on October 30, 2025, in New York City, with President and CEO Mark W. Harding presenting [1] - The company has experienced significant growth in its master planned community at Sky Ranch and its regional water system, which services both Sky Ranch and surrounding areas [2] Company Overview - Pure Cycle operates in three distinct business segments: wholesale water and wastewater services, land development for master planned communities, and rental of single-family homes at Sky Ranch, which generates recurring revenues [4] - The land development segment was launched in 2017, while the rental segment was introduced in 2021, enhancing the company's operations and customer base [4]