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Financials · CDZI

CADIZ Inc. (CDZI) financials

For the twelve months ended Jun 30, 2026, CADIZ Inc. reported $11.84M of revenue and -$36.84M of net income.

Revenue, TTM
$11.84M
Revenue growth, YoY
-21.3%
Net income, TTM
-$36.84M
Net margin
-311.0%
Free cash flow, TTM
-$31.23M
Cash
$5.32M
Total debt
$86.98M
P/S
25.31
Market cap
$299.8M
Annual revenue$16.31M
FY2016FY2025
Annual net income-$34.15M
FY2016FY2025
Annual free cash flow-$26.51M
FY2017FY2025

CDZI revenue and earnings growth

CDZI revenueQ2 2026$979.0K

Quarter YoY
-76.3%
QoQ
-40.0%
FY YoY
+69.8%
5Y CAGR
+97.6%
10Y CAGR
+48.9%

CDZI revenue was $979.0K in fiscal Q2 2026 (ended Jun 30, 2026), down 76.3% from a year earlier and down 40.0% from the prior quarter. For the full fiscal 2025 it was $16.31M, up 69.8% from fiscal 2024. Compound annual growth was +97.6% over 5 years and +48.9% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

CDZI net incomeQ2 2026-$11.37M

CDZI net income was -$11.37M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$7.73M a year earlier. For the full fiscal 2025 it was -$34.15M, compared with -$31.14M in fiscal 2024.

CDZI free cash flowQ2 2026-$9.77M

CDZI free cash flow was -$9.77M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$5.87M a year earlier. For the full fiscal 2025 it was -$26.51M, compared with -$22.47M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$16.31M$9.61M$1.99M$1.50M$564.0K$541.0K$441.0K$440.0K$437.0K$412.0K
Cost of revenue$11.16M$7.30M$2.89M$2.07M$0-----
Gross profit$5.15M$2.31M-$896.0K-$566.0K$564.0K-----
Selling, general and admin$29.48M$24.34M$18.80M$15.34M$17.65M$11.91M$12.16M$11.40M$12.80M$9.33M
Operating income-$25.60M-$23.25M-$20.94M-$16.56M-$17.51M-$11.75M-$11.99M-$11.22M-$12.64M-$9.21M
Interest expense$8.58M$7.88M$4.94M$8.26M$11.39M$11.53M$17.07M$15.27M$17.77M-
Pre-tax income-$34.14M-$31.13M-$31.43M-$24.82M-$30.30M-$35.64M-$29.03M-$26.27M-$33.86M-$26.34M
Income tax$11.0K$11.0K$11.0K$7.0K$10.0K$7.0K$6.0K$6.0K$4.0K$4.0K
Net income-$34.15M-$31.14M-$31.45M-$24.79M-$31.25M-$37.82M-$29.53M-$26.27M-$33.86M-$26.34M
EPS, basic-$0.48-$0.53-$0.56-$0.60-$0.84-$1.11-$1.11-$1.09-$1.50-$1.41
EPS, diluted-----$0.84-$1.11-$1.11-$1.09-$1.50-$1.41
Diluted shares----40,56134,18826,54924.0M22.5M18.7M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$8.60M$17.29M$4.50M$10.00M$10.96M$7.29M$15.68M$12.56M$13.03M$12.17M
Receivables$5.61M$4.59M$904.0K$454.0K$270.0K$55.0K$49.0K$38.0K$36.0K$39.0K
Inventory$1.14M$3.02M$2.11M$316.0K$0-----
Current assets$16.05M$25.79M$8.02M$12.44M$13.21M$8.04M$16.12M$13.00M$13.48M$15.60M
Goodwill$5.71M$5.71M$5.71M$5.71M$3.81M$3.81M$3.81M$3.81M$3.81M$3.81M
Total assets$140.91M$134.49M$107.37M$110.79M$112.49M$74.36M$76.72M$69.31M$66.50M$67.10M
Current liabilities$13.19M$14.41M$5.83M$5.64M$2.51M$3.13M$4.80M$4.14M$6.49M$4.56M
Short-term debt$51.0K$120.0K$182.0K$140.0K$107.0K$51.0K$31.0K$59.0K$1.41M$170.0K
Long-term debt$72.70M$56.71M$37.71M$48.95M$46.48M$78.60M$137.56M$136.25M$123.77M$102.37M
Total debt$72.76M$56.83M$37.89M$49.09M$46.58M$78.65M$137.60M$136.31M$125.18M$102.54M
Total liabilities$117.66M$100.53M$67.41M$76.56M$71.88M$99.66M$158.84M$155.55M$145.20M$121.42M
Shareholders' equity$23.26M$33.96M$39.97M$34.22M$40.61M-$25.30M-$82.12M-$86.24M-$78.70M-$54.32M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$18.93M-$21.53M-$20.92M-$18.60M-$15.27M-$13.43M-$13.71M-$12.19M-$10.47M-$9.51M
Capital expenditures$7.58M$934.0K$5.79M$3.38M$22.91M$5.73M$1.60M$1.73M$1.01M-
Free cash flow-$26.51M-$22.47M-$26.71M-$21.98M-$38.18M-$19.16M-$15.31M-$13.92M-$11.47M-
Investing cash flow-$12.58M-$1.18M-$5.79M-$4.12M-$23.47M-$9.84M-$2.50M-$3.73M-$1.01M-
Financing cash flow$25.44M$35.51M$17.57M$16.65M$51.18M$14.87M$19.34M$15.45M$12.33M$19.00M
Dividends paid$5.11M$5.11M$5.11M$5.11M$1.45M$0----
Stock-based compensation$5.30M$4.61M$1.50M$1.88M$4.75M$2.10M$562.0K$473.0K$2.30M$1.30M
Depreciation and amortization-----$381.0K$265.0K$258.0K$274.0K$292.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY69.8%382.6%32.6%166.1%4.3%22.7%0.2%0.7%6.1%35.5%
Gross margin31.6%24.0%-45.0%-37.7%100.0%-----
Operating margin-156.9%-242.0%-1051.7%-1103.4%-3105.0%-2172.6%-2718.6%-2550.0%-2892.4%-2235.4%
Net margin-209.3%-324.1%-1579.4%-1651.7%-5540.6%-6990.2%-6695.7%-5971.1%-7749.2%-6393.0%
Free cash flow margin-162.5%-233.8%-1341.6%-1464.0%-6769.9%-3541.0%-3471.0%-3163.4%-2625.2%-
Return on equity-146.8%-91.7%-78.7%-72.4%-77.0%-----
Return on assets-24.2%-23.2%-29.3%-22.4%-27.8%-50.9%-38.5%-37.9%-50.9%-39.3%
Current ratio1.221.791.372.215.262.563.353.142.083.42
Debt to equity3.131.670.951.431.15-----

Source: XBRL data CADIZ Inc. files with the SEC, latest filing dated Aug 13, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

CDZI peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CDZI$11.84M-21.3%-$36.84M-311.0%$299.8M
AWK$5.34B+5.3%$1.14B21.3%$29.94B
SBSR$39.91B+2.7%R$8.46B21.2%$17.04B
WTRG$2.60B+9.2%$566.63M21.8%$12.93B
AWR$697.48M+13.2%$143.13M20.5%$3.56B
CWT$1.02B+4.8%$137.39M13.5%$3.15B
HTO$846.18M+4.8%$104.87M12.4%$3.00B
MSEX$212.25M+8.9%$52.01M24.5%$1.12B
YORW$87.39M+13.7%$25.41M29.1%$515.0M

CDZI FAQ

8 questions
  • What is CDZI revenue?
    CADIZ Inc. (CDZI) reported $11.84M of revenue for the twelve months ended Jun 30, 2026. That is down 21.3% from the year before. Revenue for fiscal 2025 was $16.31M.
  • Is CDZI profitable?
    No. CADIZ Inc. reported a net loss of $36.84M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does CDZI have?
    CADIZ Inc. reported $5.32M in cash and cash equivalents and $86.98M of debt on its most recent balance sheet in SEC filings.
  • How fast is CDZI revenue growing?
    CADIZ Inc.'s revenue changed +69.8% in fiscal 2025, to $16.31M. Its compound annual growth rate was +97.6% over 5 years and +48.9% over 10 years.
  • What is CDZI gross margin?
    CADIZ Inc.'s gross profit was $3.21M on $11.84M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 27.1%.
  • What is CDZI free cash flow?
    CADIZ Inc. generated -$31.23M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$26.09M less capital expenditures.
  • When did CDZI last report financial results?
    The latest statements here come from CADIZ Inc.'s 10-Q filed on Aug 13, 2026, covering the period ended Jun 30, 2026.
  • Where does this CDZI financial data come from?
    Quantisnow builds these statements from the structured XBRL data CADIZ Inc. files with the SEC. It is provided for information only and is not investment advice.