Cadiz Inc (CDZI) financials
Cadiz revenue and earnings by year
Cadiz's revenue was $16.3 million in the fiscal year to December 31, 2025, up 69.8% from the year before. Net income was -$34.2 million, -209.3% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 50.5% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 10 | 2 | 2 | 1 | 1 | 0 | 0 | 0 | 0 |
| Revenue growth | 69.8% | 382.6% | 32.6% | 166.1% | 4.3% | 22.7% | 0.2% | 0.7% | 6.1% | — |
| Gross profit | 5 | 2 | -1 | -1 | — | — | — | — | — | — |
| Gross margin | 31.6% | 24.0% | -45.0% | -37.7% | — | — | — | — | — | — |
| Operating income | -26 | -23 | -21 | -17 | -18 | -12 | -12 | -11 | -13 | -9 |
| Operating margin | -156.9% | -242.0% | -1051.7% | -1103.4% | -3105.0% | -2172.6% | -2718.6% | -2550.0% | -2892.4% | -2235.4% |
| Net income | -34 | -31 | -31 | -25 | -31 | -38 | -30 | -26 | -34 | -26 |
| Net margin | -209.3% | -324.1% | -1579.4% | -1651.7% | -5540.6% | -6990.2% | -6695.7% | -5971.1% | -7749.2% | -6393.0% |
| Diluted EPS | -$0.48 | -$0.53 | -$0.56 | -$0.60 | -$0.84 | — | — | -$1.09 | -$1.50 | -$1.41 |
| Free cash flow | -32 | -22 | -27 | -22 | -38 | -19 | -15 | -14 | -11 | -10 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open CDZI in Markets.
How Cadiz makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Water Treatment | $760K | 77.6% |
| Water & Land Resources | $219K | 22.4% |
See also: CDZI returns
No forecast, no recommendation. This page describes Cadiz Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.