CDZI
Cadiz Inc.5.43
+0.08+1.5%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
455.90MP/E (TTM)
-Basic EPS (TTM)
-0.49Dividend Yield
0%Recent Filings
10-Q
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.
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.
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