Cadiz Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	4.43	17.29	4.5	10	10.97	7.29
Accounts Receivable	3.65	4.59	0.9	0.45	0.27	0.06
Inventory	2.8	3.02	2.11	0.32	-	-
Prepaid Expenses	0.85	0.89	0.51	0.38	0.69	0.69
Restricted Cash	-	-	-	1.29	1.29	-
Total Current Assets	11.72	25.79	8.02	12.44	13.21	8.04
Property, Plant & Equipment	97.16	92.11	87.65	84.69	82.17	53.5
Goodwill	5.71	5.71	5.71	5.71	3.81	3.81
Long-Term Investments	-	-	-	-	0.98	1.35
Long-Term Deferred Charges	-	4.25	4.37	4.48	4.3	4.11
Other Long-Term Assets	13.42	6.63	1.63	3.47	8.02	3.55
Total Assets	128.01	134.49	107.37	110.79	112.49	74.36
Accounts Payable	1.59	2.26	1.25	1.11	0.29	0.55
Accrued Expenses	5.59	2.44	1.02	1.55	0.81	0.67
Current Portion of Long-Term Debt	0.07	0.12	0.18	0.14	0.11	0.05
Current Unearned Revenue	0.42	1.23	0.37	-	-	-
Current Portion of Leases	0.38	0.31	0.13	0.11	0.02	0.02
Other Current Liabilities	1.27	8.05	2.88	2.74	1.29	1.85
Total Current Liabilities	9.33	14.41	5.84	5.64	2.51	3.14
Long-Term Debt	59.84	56.71	37.71	48.95	46.48	78.6
Long-Term Leases	30.43	28.75	23.2	21.19	22.11	17.18
Long-Term Unearned Revenue	0.63	0.63	0.63	0.75	0.75	0.75
Other Long-Term Liabilities	0.05	0.05	0.04	0.04	0.03	-
Total Liabilities	100.27	100.53	67.41	76.56	71.88	99.66
Total Preferred Equity	0	0	0	0	0	0
Common Stock	0.82	0.75	0.67	0.56	0.44	0.37
Additional Paid-In Capital	709.35	709.3	679.15	636.96	613.57	513.74
Retained Earnings	-682.44	-676.1	-639.85	-603.3	-573.4	-539.41
Total Common Equity	27.73	33.96	39.97	34.22	40.61	-25.3
Shareholders' Equity	27.73	33.96	39.97	34.22	40.61	-25.3
Total Liabilities & Equity	128.01	134.49	107.37	110.79	112.49	74.36
Total Debt	90.72	85.89	61.22	70.39	68.72	95.85
Net Cash (Debt)	-86.29	-68.6	-56.71	-60.39	-57.76	-88.56
Net Cash Per Share	-1.10	-1.00	-0.86	-1.21	-1.42	-2.59
Filing Date Shares Outstanding	83.11	81.79	67.06	66.54	50.75	38.34
Total Common Shares Outstanding	82.03	75.35	66.71	55.82	43.66	36.9
Working Capital	2.39	11.38	2.19	6.8	10.7	4.9
Book Value Per Share	0.34	0.45	0.60	0.61	0.93	-0.69
Tangible Book Value	22.02	28.25	34.25	28.51	36.8	-29.12
Tangible Book Value Per Share	0.27	0.37	0.51	0.51	0.84	-0.79
Land	33.09	33.07	32.36	30.58	27.55	26.8
Buildings	1.81	1.81	1.73	1.72	1.6	1.58
Machinery	4.43	4.12	3.93	3.4	2.2	2.49
Construction In Progress	10.56	6.86	5.66	3.68	3.13	0.79

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.

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