Pure Cycle Corporation (PCYO) Q3 2025 Earnings Call Transcript

Pure Cycle Corporation (NASDAQ:PCYO) Q3 2025 Earnings Conference Call July 10, 2025 8:30 AM ET

Company Participants

Marc Stephen Spezialy – VP, CFO & Principal Accounting Officer
Mark W. Harding – President, CEO, Principal Executive Officer & Director

Conference Call Participants

Elliot Knight – Unidentified Company

Marc Stephen Spezialy

Good morning, everybody, and welcome to Pure Cycle Corporation’s third quarter earnings call. We’ll start with a presentation from our CEO, Mark Harding. Before moving into the Q&A session, we ask that everybody mute — sorry about that. We went ahead and muted everybody. And when we get to the Q&A session, we’ll make sure that the mics are open, but we ask that you stay muted until you’re called on.

And with that, I’ll turn the presentation over to our CEO, Mark Harding.

Mark W. Harding

Thank you. Good morning. Welcome to our third quarter earnings call. With me today, you just heard Marc Spezialy, as our CFO; as well as our Controller, Cyrena Finnegan. So if you have any hard questions, they’ll help chime in on that.

We do have a deck for this. So for those of you that are on this live, you can see the deck by going to our website on the landing page, there’ll be a tab that you can click on to. I’ll advance through the slides as I go through the presentation, and then for those that are listening to this on the replay, I’ll try and note the slide transition, so you can kind of match the audio together with the slide deck.

So with that, we’ll get started. Our first slide, as always, to get the lawyers out of the room. So you all are familiar with forward- looking statements, statements that are contained or incorporated by reference in this are forward-looking statements at that meaning by