Filing Flows › Cadiz (CDZI) › Q1 2025
Cadiz (CDZI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
Cadiz (CDZI) reported revenue of $3.0M for the first quarter 2025 (Q1 2025), +164% from a year earlier and -38% from the quarter before. Operating margin was -255.0%, net loss $9.6M (324.7% of revenue).
Cadiz, Q1 2025: revenue $3.0M (+164% year over year), operating margin -255.0%, net loss $9.6M, operating cash flow −$3.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0M | -38% | +164% |
| Operating profit | −$7.5M | — | — |
| Net earnings | −$9.6M | — | — |
| Operating cash flow | −$3.6M | — | — |
What changed
Revenue was $3.0M in Q1 2025, up 164% year over year and down 38% from the previous quarter. Water Treatment was the largest line at 81% of revenue. Water Treatment added $1.9M year over year (up 393%), 104% of the total change. Water and Land Resources declined 11%.
Operating costs exceeded revenue by $7.5M, an operating margin of -255.0%. Total costs grew 74% against revenue growth of 164%. The fastest-growing cost line was Cost of revenue (+107%). The quarter ended with a net loss of $9.6M, wider than the previous quarter's $8.6M loss.
Operating cash flow was −$3.6M. Non-cash charges added back $302K of depreciation and $2.8M of share-based compensation. Working capital and other items added $2.9M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$4.9M.
Questions
What was Cadiz's revenue in the first quarter 2025?
Cadiz (CDZI) reported revenue of $3.0M for the first quarter 2025 (Q1 2025), +164% from a year earlier and -38% from the quarter before.
Was Cadiz profitable in the first quarter 2025?
Operating loss was $7.5M (-255.0% of revenue) and net loss $9.6M.
Source: Cadiz 10-Q on SEC EDGAR.