CADIZ INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $16.3M | $9.6M | $2.0M | $1.5M | $564,000 |
| Cost of revenue | $11.2M | $7.3M | $2.9M | $2.1M | $0 |
| Operating income | -$25.6M | -$23.2M | -$20.9M | -$16.6M | -$17.5M |
| Interest expense | $8.6M | $7.9M | $4.9M | $8.3M | $11.4M |
| Pretax income | -$34.1M | -$31.1M | -$31.4M | -$24.8M | -$30.3M |
| Income tax expense | $11,000 | $11,000 | $11,000 | $7,000 | $10,000 |
| Net income | -$34.2M | -$31.1M | -$31.4M | -$24.8M | -$31.2M |
| Balance Sheet | |||||
| Cash and equivalents | $8.6M | $17.3M | $4.5M | $10.0M | $11.0M |
| Current assets | $16.1M | $25.8M | $8.0M | $12.4M | $13.2M |
| Total assets | $140.9M | $134.5M | $107.4M | $110.8M | $112.5M |
| Current liabilities | $13.2M | $14.4M | $5.8M | $5.6M | $2.5M |
| Total liabilities | $117.7M | $100.5M | $67.4M | $76.6M | $71.9M |
| Stockholders' equity | $23.3M | $34.0M | $40.0M | $34.2M | $40.6M |
| Cash Flow Statement | |||||
| Cash from operations | -$18.9M | -$21.5M | -$20.9M | -$18.6M | -$15.3M |
| Depreciation and amortization | $1.3M | $1.2M | $1.2M | $654,000 | $423,000 |
| Stock-based compensation | $5.3M | $4.6M | $1.5M | $1.9M | $4.7M |
| Capital expenditure | $7.6M | $934,000 | $5.8M | $3.4M | $22.9M |
| Free cash flow | -$26.5M | -$22.5M | -$26.7M | -$22.0M | -$38.2M |
| Dividends paid | $5.1M | $5.1M | $5.1M | $5.1M | $1.4M |
| Impairments | $0 | — | $0 | $0 | $0 |
Shares outstanding 84.1M · Free float 58.8%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.