SEC filings · customer concentration · PCYO

Pure Cycle's major customers

Melody Dr Horton accounted for 30% of Pure Cycle's revenue in FY 2025, up from 19% a year earlier.

7major customers now
90%of revenue from them
0listed suppliers depending on it
2019–2025years covered
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Major customers of Pure Cycle

Customers that Pure Cycle named in its annual report as 10% or more of revenue. A missing year means the customer was below that line or not named.

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Melody Dr Horton30%▲ from 19%FY 2023: 20%FY 2024: 19%FY 2025: 30%3 yearsFY 2025 · filed 12 Nov 2025
LennarLEN20%from 24%FY 2022: 18%FY 2023: 17%FY 2024: 24%FY 2025: 20%4 yearsFY 2025 · filed 12 Nov 2025
Kb Home Colorado15%from 10%FY 2019: 29%FY 2020: 27%FY 2021: 20%FY 2022: 10%FY 2023: 12%FY 2024: 10%FY 2025: 15%7 yearsFY 2025 · filed 12 Nov 2025
Sky Ranch Homes8%from 9%FY 2020: 22%FY 2021: 14%FY 2022: 5%FY 2023: 7%FY 2024: 9%FY 2025: 8%6 yearsFY 2025 · filed 12 Nov 2025
Taylor Morrison HomeTMHC8%newFY 2019: 34%FY 2020: 30%FY 2021: 17%FY 2025: 8%4 yearsFY 2025 · filed 12 Nov 2025
Challenger5%from 9%FY 2022: 14%FY 2023: 16%FY 2024: 9%FY 2025: 5%4 yearsFY 2025 · filed 12 Nov 2025
Oil And Gas Operator4%▼ from 19%FY 2022: 16%FY 2023: 18%FY 2024: 19%FY 2025: 4%4 yearsFY 2025 · filed 12 Nov 2025

Formerly disclosed

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Homebuilder53%last FY 2021FY 2020: 94%FY 2021: 53%2 yearsFY 2021 · filed 10 Nov 2021
Conoco Crestone Peak OG Operations45%last FY 2020FY 2019: 74%FY 2020: 45%2 yearsFY 2020 · filed 10 Nov 2020
Richmond Homes16%last FY 2021FY 2019: 32%FY 2020: 37%FY 2021: 16%3 yearsFY 2021 · filed 10 Nov 2021
Ridgeview Youth Services Center14%last FY 2020FY 2019: 3%FY 2020: 14%2 yearsFY 2020 · filed 10 Nov 2020
Wild Pointe Homes9%last FY 2020FY 2019: 6%FY 2020: 9%2 yearsFY 2020 · filed 10 Nov 2020
Richmond6%last FY 2022FY 2021: 16%FY 2022: 6%2 yearsFY 2022 · filed 15 Nov 2023

About this data

US-listed companies must disclose revenue from any single customer that reaches 10% of their total (ASC 280). ShadowGraph reads these disclosures from the XBRL data of every 10-K and 20-F we scan, keeps one value per fiscal year (restatements replace earlier values) and links each number to its filing. Companies that describe a customer only as "Customer A" are not listed by name. Figures are as reported; nothing here is investment advice.

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