Pure Cycle Corp.
- PCYO · Nasdaq
- Water Supply
- Watkins, CO
- 44 employees
- CIK 0000276720
Updated from SEC filings through
Top things to know
Revenue, FY2025$26.1M-9.3% vs FY2024Operating margin29.4%Operating income $7.7MEmployees44As of August 31, 2025Next earningsNovember 19, 202608:30 ETLatest 8-KDeparture or appointment of directors or officers; compensationFiled August 25, 2026Leadership changeItem 5.02 filedAugust 25, 2026, last 90 days
Executives
- Mark W. Harding CHIEF EXECUTIVE OFFICER 4, 2026-09-23
- Marc Stephen Spezialy Chief Financial Officer 4, 2026-09-17
- Marc Spezialy our Vice President, Chief Financial Officer 10-K, 2025-11-12
Pure Cycle Corp is a U.S. public company in water supply (SIC 4941), headquartered in Watkins, CO. It trades as PCYO on Nasdaq. Revenue was $26.1M in the fiscal year ending August 31, 2025, -9.3% from the year before. It reported about 44 employees. Mark W. Harding is CHIEF EXECUTIVE OFFICER.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $26.1M 10-K, 2025-11-12 | $28.7M 10-K, 2025-11-12 | $14.6M 10-K, 2024-11-13 | $23.0M 10-K, 2023-11-15 | $17.1M 10-K, 2022-11-14 |
| Operating income | $7.7M 10-K, 2025-11-12 | $12.2M 10-K, 2025-11-12 | $2.1M 10-K, 2024-11-13 | $10.1M 10-K, 2023-11-15 | $5.3M 10-K, 2022-11-14 |
| SG&A | $7.8M 10-K, 2025-11-12 | $6.9M 10-K, 2025-11-12 | $5.5M 10-K, 2024-11-13 | $5.9M 10-K, 2023-11-15 | $5.1M 10-K, 2022-11-14 |
| Net income | $13.1M 10-K, 2025-11-12 | $11.6M 10-K, 2025-11-12 | $4.7M 10-K, 2024-11-13 | $9.6M 10-K, 2023-11-15 | $20.1M 10-K, 2022-11-14 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| Mark W. Harding President, CEO at Pure Cycle Corporation | CHIEF EXECUTIVE OFFICER | 4, 2026-09-23 |
| Marc Stephen Spezialy | Chief Financial Officer | 4, 2026-09-17 |
| Marc Spezialy | our Vice President, Chief Financial Officer | 10-K, 2025-11-12 |
| Chris Fink | director | 8-K, 2026-08-25 |
| Kelly Haecker | director | 8-K, 2026-08-25 |
What Pure Cycle Corp does
Unless otherwise specified or the context otherwise requires, any reference to “Pure Cycle,” the “Company,” “we,” “us” or “our” is to Pure Cycle Corporation and its wholly-owned subsidiaries on a consolidated basis.
Shares and governance
| Shares outstanding | 24.1 million (as of July 6, 2026) | 10-Q, July 8, 2026 |
|---|---|---|
| Public float | $201M (as of February 28, 2025) | 10-K, November 12, 2025 |
| Reportable segments | 3 (period ending August 31, 2025) | 10-K, November 12, 2025 |
| Latest proxy statement | Meeting January 14, 2026 (filed December 4, 2025) | DEF 14A, December 4, 2025 |
| Auditor | Forvis Mazars, LLP (Denver, CO) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| November 17, 2025 | Daniel R. Kozlowski Director | Sale | 68,778 | $757K | Form 4, November 19, 2025 |
Recent 8-K events
- 8-K filed 2026-08-25
- Item 5.02 Departure or appointment of directors or officers; compensation
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-07-09
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 5.02 Departure or appointment of directors or officers; compensation
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-05-26
- Item 5.02 Departure or appointment of directors or officers; compensation
- 8-K filed 2026-04-09
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-01-16
- Item 1.01 Entry into a material definitive agreement
- Item 5.02 Departure or appointment of directors or officers; compensation
- Item 5.07 Submission of matters to a vote of security holders
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-01-08
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-11-13
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-07-10
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-04-10
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-01-17
- Item 5.07 Submission of matters to a vote of security holders
Frequently asked questions about Pure Cycle Corp
- What does Pure Cycle Corp do?
- In its own words, from Item 1 of its 10-K: "Unless otherwise specified or the context otherwise requires, any reference to “Pure Cycle,” the “Company,” “we,” “us” or “our” is to Pure Cycle Corporation and its wholly-owned subsidiaries on a consolidated basis."
- What is Pure Cycle Corp's revenue?
- $26.1M for the fiscal year ending August 31, 2025, from its 10-K filed November 12, 2025.
- Is Pure Cycle Corp profitable?
- Pure Cycle Corp reported net income of $13.1M for the fiscal year ending August 31, 2025.
- How many employees does Pure Cycle Corp have?
- About 44 as of August 31, 2025, as stated in its annual report.
- Who is the CEO of Pure Cycle Corp?
- Mark W. Harding, CHIEF EXECUTIVE OFFICER, as named in a 4 filed September 23, 2026.
- Who is the CFO of Pure Cycle Corp?
- Marc Stephen Spezialy, Chief Financial Officer, as named in a 4 filed September 17, 2026.
- Where is Pure Cycle Corp headquartered?
- Watkins, CO.
- What is Pure Cycle Corp's stock ticker?
- PCYO on Nasdaq.
- What industry is Pure Cycle Corp in?
- Water Supply, SIC code 4941.
- What is Pure Cycle Corp's website?
- purecyclewater.com.
- When does Pure Cycle Corp report earnings next?
- November 19, 2026 at 08:30. Source: ir_events.
- Is Pure Cycle Corp a public company?
- Yes. Pure Cycle Corp files with the SEC under CIK 0000276720 and trades as PCYO.
- Who audits Pure Cycle Corp?
- Forvis Mazars, LLP, Denver, CO, as named in its latest annual report (10-K).
- How many shares of Pure Cycle Corp are outstanding?
- 24.1 million shares as of July 6, 2026, from its 10-Q filed July 8, 2026.
- What is Pure Cycle Corp's public float?
- $201M as of February 28, 2025, as reported on the cover of its 10-K filed November 12, 2025.
- How many business segments does Pure Cycle Corp report?
- 3 reportable segments for the period ending August 31, 2025, from its 10-K filed November 12, 2025.
- When is Pure Cycle Corp's annual shareholder meeting?
- January 14, 2026, per its proxy statement (DEF 14A) filed December 4, 2025.
- Have Pure Cycle Corp insiders traded stock recently?
- Since November 17, 2025, officers and directors reported 1 open-market sale worth about $757K and 0 purchases on Forms 4 and 5. The most recent: Daniel R. Kozlowski (Director) sold 68,778 shares on November 17, 2025.