Cadiz Q2 FY26 net loss widens to $11.4 million; revenue falls to $979,000

Cadiz posted a net loss of $11.4 million for the quarter ended June 30, 2026, widening from a $7.7 million loss.

• Revenue fell to $979,000 from $4.13 million, as ATEC sales slid to $760,000 from $3.7 million.
• Operating loss widened to $8.84 million from $5.78 million, on weaker ATEC gross margin and higher legal and consulting costs.
• Net interest expense increased to $2.9 million from $1.95 million, driven by borrowings under the Lytton Credit Agreement.
• Cadiz received a 45-year BLM right-of-way grant for the Northern Pipeline; it expects about $400 million to place it into service.