Segment Report

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Report

Segment Report

The Company operates and evaluates its business as a single reportable segment. This segment encompasses the manufacturing and distribution of a diverse range of single-use food and beverage service products made from materials such as plastic, paper, biopolymer-based, and other compostable forms. It also includes the distribution of specialty food and beverage items, like syrups, boba, and coffee drinks, as well as restaurant and warehouse supplies. This single segment is identified because it engages in business activities in which it generates revenue and expenses, its performance is reviewed by the Company’s chief executive officer who is the chief operating decision maker (“CODM”), and it has distinct financial information available. The CODM assesses performance of the reportable segment and decides how to allocate resources based on consolidated net income, which is also reported on the consolidated statements of income. The CODM uses this information to compare actual results against budgeted expectations in assessing the performance of the segment.

The following is the summary of the financial information for the Company’s reportable segment:

	Year Ended December 31,
	2025		2024
	(in thousands)
Net sales	$	467,743	$	422,633
Less (Add):
Cost of goods sold	295,607		258,304
Shipping and transportation	41,079		34,119
Salaries and benefits	37,684		36,311
Professional services	4,967		5,024
Depreciation and amortization	4,618		4,290
Rent expense	12,702		9,364
Marketing expense	5,675		6,762
Online platform fees	7,254		11,043
Warehouse expense	4,155		3,862
Stock-based compensation	1,182		2,065
ROU asset impairment expense	—		1,993
Secondary offering transaction costs	214		—
(Gain) loss, net, on disposal of property and equipment	(493)		759
Interest expense	2,055		2,123
Provision for income taxes	10,358		9,871
Other segment expenses*	11,685		10,976
Interest income	2,210		2,299
Other income, net	1,453		2,758
Segment net income	32,664		30,824
Reconciliation of segment net income to consolidated net income
Adjustments and reconciling items	—		—
Consolidated net income	32,664		30,824

* Other segment expenses include property taxes, insurance expenses, office expenses, bad debt expenses, and utilities.

There are no changes in the basis of segmentation or measurement of segment profit or loss since December 31, 2024. The Company’s long-lived assets are almost entirely located in the United States, and similarly its revenues are almost entirely generated in the United States as well. Additionally, the segment assets are the same as the assets reported on the condensed consolidated balance sheets.