Cadiz (CDZI) Financial Statements & Analysis

Cadiz (CDZI) Income Statement

Cadiz reported revenue of $16.31M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 69.8% from $9.61M a year earlier. Cadiz posted a net loss of $34.13M, compared with a net loss of $31.14M a year earlier. Gross margin was 31.6% and operating margin -156.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $979.00K, down 76.3% from the same quarter a year earlier.

Cadiz Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cadiz Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	16.31	9.61	1.99	1.50	0.56	0.54	0.44	0.44	0.44
Cost of Revenue	11.16	7.30	2.89	2.07	0.00	0.00	0.00	0.00	0.27
Gross Profit	5.15	2.31	-0.90	-15.91	-17.09	0.54	0.44	0.44	0.16
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	29.48	24.35	18.80	15.34	17.65	11.91	12.17	11.40	12.80
Operating Expenses	30.75	25.56	20.04	16.00	18.08	12.30	12.43	11.66	13.08
Operating Income	-25.60	-23.25	-20.94	-16.56	-17.51	-11.75	-11.99	-11.22	-12.64
Other Income/Expense
Interest Income	0.48	0.34	0.61	0.04	-0.94	0.03	0.23	0.22	0.05
Interest Expense	9.11	8.00	5.58	8.26	9.60	11.67	17.07	16.69	15.16
Other Income/Expense	-8.54	-7.88	-5.55	-8.22	-13.73	-26.06	-17.53	-15.05	-21.22
Income
Income Before Tax	-34.14	-31.13	-31.44	-24.79	-31.24	-37.81	-29.52	-26.27	-33.86
Income Tax Expense	-0.01	0.01	0.01	-0.01	-0.01	0.01	0.01	0.01	0.00
Net Income	-34.13	-31.14	-31.45	-29.90	-33.99	-37.82	-29.53	-26.27	-33.86
Net Income - Continuous Operations	-34.13	-31.14	-31.45	-24.79	-31.25	-37.82	-29.53	-26.27	-33.86
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-23.41	-21.75	-24.49	-15.91	-17.09	-11.37	-11.72	-9.22	-18.42
EBIT	-25.60	-23.13	-25.86	-16.56	-17.51	-11.75	-	-	-
Depreciation & Amortization	1.62	1.21	1.25	0.65	0.42	0.38	0.27	0.26	0.27
Earnings Per Share
Basic EPS	-	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00
Diluted EPS	-	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00
Basic Shares Outstanding	81.06	68.85	65.66	49.87	40.56	34.19	26.55	24.00	22.54
Diluted Shares Outstanding	81.06	68.85	65.66	49.87	40.56	34.19	26.55	24.00	22.54

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Cadiz Financial Statements

What was Cadiz's revenue in fiscal 2025?

Cadiz reported revenue of $16.31M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 69.8% from $9.61M a year earlier.

Is Cadiz profitable?

No. Cadiz reported a net loss of $34.13M in fiscal 2025. In fiscal 2024 it lost $31.14M.

What is Cadiz's operating margin?

Cadiz's operating income was −$25.60M on revenue of $16.31M in fiscal 2025, an operating margin of -156.9%, compared with -242.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition