Quarterly ResultMay 14, 2026, 04:18 PM
Cadiz Q1 Net Loss Per Share $(0.12); Revenue $1.63M
AI Summary
Cadiz Inc. reported a net loss of $(8.6) million for Q1 2026, an improvement from $(9.6) million in Q1 2025, primarily due to lower stock-based compensation. Basic and diluted net loss per common share improved to $(0.12) from $(0.14) year-over-year. Total revenues, however, decreased to $1.63 million from $2.95 million in the prior year quarter. The company drew an additional $15 million from the Lytton Credit Agreement in March 2026, bringing the total drawn to $30 million for the Mojave Groundwater Bank project.
Key Highlights
- Net loss applicable to common stock was $(9.92) million, down from $(10.86) million year-over-year.
- Basic and diluted net loss per common share improved to $(0.12) from $(0.14) year-over-year.
- Total revenues decreased to $1.63 million for Q1 2026 from $2.95 million in Q1 2025.
- Operating loss narrowed to $(6.84) million from $(7.53) million year-over-year.
- Net cash used in operating activities increased to $(5.51) million from $(3.64) million year-over-year.
- Long-term debt, net, increased to $85.60 million at March 31, 2026, from $72.71 million at December 31, 2025.
- Cadiz drew a second $15 million from the Lytton Credit Agreement for the Mojave Groundwater Bank project.
- Stock-based compensation expense decreased to $0.48 million from $2.77 million year-over-year.