Every 10-Q that CADIZ, Inc. (CDZI) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CDZI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CDZI filings page.
Cadiz Inc. reported weaker results for the three and six months ended June 30, 2026 as it continues to invest in the Mojave Groundwater Bank and related water infrastructure. Q2 2026 revenue was $979 thousand, down sharply from $4.1 million a year earlier, mainly due to a large prior-year ATEC filter project not repeating and lower filter volumes, which also compressed ATEC gross margins.
Net loss applicable to common stock was $12.6 million for Q2 2026 (vs. $9.0 million) and $22.6 million for the first half (vs. $19.9 million), driven by lower ATEC gross profit and higher legal and consulting costs for project development, plus higher interest expense from new borrowings. Operating cash outflow was $12.2 million in the first half, funded by a $15 million draw under the $51 million Lytton unsecured term loan used for Mojave Groundwater Bank costs.
At June 30, 2026, Cadiz held $5.3 million in cash and cash equivalents, working capital of $1.6 million, and long-term debt of $87.0 million, with an effective interest rate of 15.4%. Stockholders’ equity fell to $4.7 million from $23.3 million at year-end 2025. Strategically, the company has contracted 21,275 acre-feet per year of water supply on the Northern Pipeline, secured an EPA WIFIA invitation for up to $194 million of financing, and advanced plans to fund up to $1.25–$1.5 billion in Northern and Southern Pipeline capital costs through its Mojave Water Infrastructure Company structure and the Tribal Investment facility with Lytton.
Cadiz Inc. reported a Q1 2026 net loss of $8.6 million, slightly better than the $9.6 million loss a year earlier, as non‑cash stock compensation declined. Revenue fell to $1.6 million from $3.0 million, mainly due to lower ATEC water filtration project shipments.
Operating loss narrowed to $6.8 million, while net interest expense rose to $2.5 million as the company drew more debt. Cash and cash equivalents increased to $16.5 million, supported by a $15 million draw under the Lytton Credit Agreement used to fund the Mojave Groundwater Bank and development activities.
Total assets were $146.1 million and long‑term debt reached $85.6 million. Management emphasizes liquidity planning and ongoing financing efforts to advance the Mojave Groundwater Bank, pipeline conversion and related water supply and storage projects.
Cadiz Inc. (CDZI) reported Q3 2025 results with total revenue of $4.15 million, up from $3.22 million a year ago, driven by stronger ATEC water filtration sales. The quarter recorded a net loss of $7.07 million and an operating loss of $4.90 million. ATEC posted improved gross margins (49.6%) as higher filter shipments spread fixed costs, while Land and Water Resources remained in pre-revenue development.
For the nine months ended September 30, 2025, revenue was $11.23 million versus $4.86 million in 2024, with a net loss of $24.40 million. Cash and cash equivalents were $4.43 million as of September 30, 2025; operating cash use was $12.01 million year-to-date. Long-term debt was $59.84 million, and the company paid $1.27 million in quarterly dividends on its 8.875% Series A preferred. Cadiz raised equity via registered direct offerings in November 2024 and March 2025.
Subsequent event: on October 27, 2025, Cadiz entered the Lytton Agreement, enabling draws of up to $51 million as an unsecured term loan at 8% to fund the Mojave Groundwater Bank, with a potential conversion into a right to 51% of storage cash flows if fully funded.