A Colorado water company that treats and recycles water and wastewater for communities across the Denver area, and builds master-planned neighborhoods like its Sky Ranch development near Watkins, complete with single-family rental homes. It was incorporated in 1976 and later reincorporated in Colorado, growing out of decades of managing water rights in the Denver Basin. One fun quirk: Sky Ranch irrigates its landscaping with highly treated recycled wastewater, so the lawns are literally watered by what goes down the drain.
Pure Cycle director Daniel R. Kozlowski resigns from board effective July 7, 2026
The resignation was not due to any disagreement with the company on operations, policies, or practices.
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Daniel R. Kozlowski resigned from Pure Cycle's Board of Directors effective July 7, 2026.
The board will search for a successor, preferring a candidate with a shareholder perspective.
Pure Cycle also reported Q3 fiscal 2026 results: net income of $2.9 million, revenue of $8.2 million, EPS of $0.12.
The company announced a 60% revenue increase for the quarter and 51% for the nine months ended May 31, 2026.
2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Pure Cycle reports Q2 FY2026 net income of $1.1M, revenue of $5.2M
Revenue for the three months ended February 28, 2026 was $5.2 million, up 29% from $4.0 million in the prior-year period; for the six months, revenue was $14.3 million, up 47% from $9.7 million.
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Net income for the three and six months ended February 28, 2026 was $1.1 million and $5.7 million, respectively, up from $0.8 million and $4.7 million in the same periods of 2025.
Earnings per fully diluted share were $0.05 for the quarter and $0.23 for the six months, compared to $0.03 and $0.20 in the prior-year periods.
EBITDA for the three and six months ended February 28, 2026 was $2.2 million and $8.9 million, up 23% and 16% year-over-year, respectively.
Cash and cash equivalents totaled $4.8 million as of February 28, 2026; the company expects to receive approximately $18.9 million in milestone and finished lot payments over the next 12 months.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Pure Cycle expands board to 8, appoints Daniel J. Roller under cooperation agreement with Maran Capital
The board was expanded from seven to eight directors, and Daniel J. Roller was appointed as an independent director effective January 14, 2026.
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Pure Cycle Corporation entered into a cooperation agreement with Maran Capital Management, LLC, which beneficially owns approximately 14.7% of Pure Cycle's common stock.
The board will form a Strategy and Capital Allocation Committee, chaired by Mr. Roller, to evaluate strategic and capital allocation matters.
Maran agreed to vote its shares in line with board recommendations and to a standstill period until 15 days before the 2027 shareholder nomination deadline or 90 days before the 2026 proxy mailing anniversary.
At the 2026 annual meeting, all seven director nominees were elected, and shareholders approved the ratification of Forvis Mazars, LLP as auditor and an advisory vote on executive compensation.
1.01 Entry into a Material Definitive Agreement · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits