PURE CYCLE CORP
For the period ended Aug 31, 2024. Filed Nov 13, 2024.
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FY2024 · Filed Nov 13, 2024
PCYO$10.94-1.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended | ||||||
| (In thousands) · August 31, 2024 · August 31, 2023 | ||||||
| Cash flows from operating activities: · · | ||||||
| Net income | | $11,613 | | $4,699 | ||
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | |
| Depreciation and depletion | | | 2,100 | | | 2,156 |
| Trade accounts receivable | | (380) | | 1,333 | ||
| Accounts payable and accrued liabilities | | 973 | | 1,262 | ||
| Other assets and liabilities | | 275 | | | 874 | |
| Share-based compensation expense | | 436 | | 539 | ||
| Deferred income taxes | | 43 | | 277 | ||
| Prepaid expenses | | (184) | | 121 | ||
| Amortized discount on U.S. Treasury Bills | | | — | | | (256) |
| Net activity for notes receivable - related party, other | | | 130 | | | (331) |
| Deferred water sales revenue | | (69) | | | (501) | |
| Land under development | | (5,014) | | (2,564) | ||
| Deferred lot sale revenue | | 512 | | (2,614) | ||
| Taxes payable / receivable | | | 1,993 | | | (3,081) |
| Net activity on note receivable - related party, reimbursable public improvements | | | (10,216) | | (4,253) | |
| Net cash provided by (used in) operating activities | | 2,212 | | (2,339) | ||
| Cash flows from investing activities: | | | | | | |
| Maturity of held-to-maturity investments in U.S. Treasury Bills | | | — | | | 15,256 |
| Purchase of property and equipment | | (458) | | (394) | ||
| Investments in future development phases at Sky Ranch | | | (2,156) | | | (1,686) |
| Construction costs of single-family rentals | | | (291) | | | (3,480) |
| Investments in water and water systems | | (1,924) | | (3,937) | ||
| Payments on note receivable - related party, other | | | 100 | | | - |
| Purchase of held-to-maturity investments in U.S. Treasury Bills | | | - | | | (15,000) |
| Net cash used in investing activities | | (4,729) | | (9,241) | ||
| Cash flows from financing activities: | | | | | | |
| Proceeds from notes payable | | — | | 3,000 | ||
| Payments on notes payable | | | (31) | | | (44) |
| Repurchases of common stock | | (581) | | — | ||
| Payments to contingent liability holders | | — | | (111) | ||
| Net cash (used in) provided by financing activities | | (612) | | 2,845 | ||
| Net change in cash, cash equivalents and restricted cash | | (3,129) | | (8,735) | ||
| Cash, cash equivalents and restricted cash – beginning of period | | 28,487 | | 37,222 | ||
| Cash, cash equivalents and restricted cash – end of period | | $25,358 | | $28,487 | ||
| Cash and cash equivalents | | $22,113 | | $26,012 | ||
| Restricted cash | | | 3,245 | | | 2,475 |
| Total cash, cash equivalents and restricted cash | | $25,358 | | $28,487 | ||
| | | | | | | |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||
| Cash paid for income taxes | | $2,056 | | $947 | ||
| Cash paid for interest | | $417 | | $142 | ||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||
| Change in reimbursable public improvements included in accounts payable and accrued liabilities | | $1,232 | | $727 | ||
| Change in investments in water and water systems included in accounts payable and accrued liabilities | | $131 | | $808 | ||
| Issuance of stock for compensation | | $211 | | $111 | ||
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