Cadiz, Inc.
5.51-0.22 (-3.84%)
Oct 29, 4:00:01 PM EDT · NasdaqGM · CDZI · USD
Key Stats
Market Cap
462.62MP/E (TTM)
-Basic EPS (TTM)
-0.51Dividend Yield
0%Recent Filings
8-K
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.
8-K
Cadiz-EPCOR water MOU
Cadiz Inc. signed a non-binding MOU with EPCOR NR Holdings Inc. on August 1, 2025, to jointly develop the Mojave Groundwater Bank project, targeting long-term water supply for Arizona users. Cadiz will grant EPCOR exclusive rights to market 25,000 acre-feet per year of conserved water, while EPCOR commits to designing, building, and financing part of the Southern Pipeline to connect to the Colorado River Aqueduct. The deal eyes a future operations agreement, but hinges on negotiating binding terms amid funding and regulatory hurdles. Risks loom if market demand shifts.
8-K
Cadiz inks clean energy MOU
Cadiz Inc. entered a non-binding MOU on June 17, 2025, granting UK-based Hoku Energy a three-year exclusive option to develop a clean energy and digital infrastructure project on over 10,000 acres of its Mojave Desert land. The deal secures $50,000 annual option fees and, if exercised, up to $1,000 per acre in rent—potentially $7.2 million initially—plus $1.8 million to $3.4 million yearly for 2,000-4,000 acre-feet of water. This bolsters Cadiz's sustainable land strategy alongside prior RIC Energy pact. Risks hinge on regulatory approvals and milestone achievements.
8-K
Annual meeting elects directors
Cadiz Inc. held its 2025 Annual Meeting on June 12, electing eight directors including Stephen E. Courter and Susan Kennedy with strong support from 49 million votes each, amid 8 million broker non-votes. Stockholders approved increasing shares under the 2019 Equity Incentive Plan by 47.5 million for votes and ratified PricewaterhouseCoopers as auditors with near-unanimous backing. Say-on-pay passed advisory approval. This routine governance refresh signals steady board continuity.
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