CDZI
Cadiz Inc.5.43
+0.08+1.5%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
455.90MP/E (TTM)
-Basic EPS (TTM)
-0.49Dividend Yield
0%Recent Filings
8-K
Appoints Microsoft finance vet
Cadiz Inc. appointed Dave O'Hara to its board on February 3, 2026, filling a vacancy through the 2026 annual meeting. O'Hara brings 20+ years at Microsoft, including CFO of its Commercial Business Group, overseeing massive capital investments in data centers and cloud infrastructure. Board gains finance expertise. No related transactions disclosed.
10-Q
Q3 FY2025 results
Cadiz posted Q3 revenues of $4.1M, up 29% y/y from $3.2M, fueled by ATEC filter sales jumping to $4.0M from $2.8M while Land and Water Resources dipped to $0.1M. Operating loss narrowed slightly to $4.9M from $4.8M y/y, yet net loss widened to $7.1M from $6.8M due to higher interest expense; EPS improved to -$0.10 from -$0.12 on 82M shares. ATEC gross margins lifted to 49.6% from 32.1% on scaled volumes. Cash fell to $4.4M after $12.0M YTD operating burn and $6.3M capex/investments, offset by $18.3M equity raise; long-term debt hit $59.8M at 7% maturing 2027. Cash burned fast. Post-quarter, secured $51M Tribal loan option at 8% for Mojave Bank. Regulatory delays linger.
8-K
Cadiz secures $51M tribal loan
Cadiz Inc. signed a definitive agreement on October 27, 2025, with Lytton Rancheria for up to $51 million in unsecured loans at 8% interest to fund its Mojave Groundwater Bank project, the first tranche of $450 million equity financing via special-purpose entity MWI. The loan converts at Lytton's option into 51% of storage cash flows, contributed to MWI for equity on par with other investors, while Cadiz issues 600,000 commitment shares plus 25,000 per $1 million drawn. This tribal partnership accelerates construction, targeting 2026 pipeline starts. Yet risks loom if funding milestones falter.
8-K
MOU for Mojave water studies
Cadiz's Fenner Gap Mutual Water Company signed a non-binding MOU with the U.S. Bureau of Reclamation and Fenner Valley Water Authority on September 25, 2025, to study data-sharing for the Mojave Groundwater Bank project's potential to augment Colorado River water via aquifer storage and delivery to Lake Mead. This five-year framework targets drought resiliency in Southern California and the Lower Basin. Studies pending. Non-binding.
10-Q
Q2 FY2025 results
Cadiz Inc. boosted Q2 FY2025 revenues to $4.1M, up sharply from $0.5M a year earlier, thanks to ATEC's filter sales jumping to $3.7M from $0.2M while Land and Water Resources ticked up modestly to $0.4M. Gross margins strengthened, with ATEC hitting 44.5% versus a prior negative, yet operating losses narrowed to $5.8M from $6.9M as higher professional fees for the Mojave Groundwater Bank offset gains. Net loss eased to $7.7M from $8.9M, driven mainly by interest expense; the gap between operating and net loss stems from $2.0M in net interest. Cash dipped to $13.2M after $10.8M in investing for pipeline options, but a $18.3M stock offering bolsters liquidity against $58.8M long-term debt maturing 2027 at 7%. ATEC turned profitable. Regulatory hurdles could stall water project timelines.
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