Segment Information

3 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Note 9. Segment Information

Segments

Total revenues represent sales to unaffiliated customers, as reported in the Condensed Consolidated Statements of Operations. Goods and services produced by these segments are sold to wholesalers and processors in the United States, who prepare the products for consumption. The Company evaluates the segments’ performance based on direct margins (gross profit) from operations before general and administrative expenses, interest expense, other income (expense) and income taxes, not including nonrecurring gains and losses.

Information by operating segment is as follows:

(in thousands)	Three Months Ended December 31,
	2024		2023
Revenues:
Alico Citrus	$	16,326	$	13,592
Land Management and Other Operations	568		393
Total operating revenues	$	16,894	$	13,985
Operating expenses:
Alico Citrus	$	25,111	$	28,107
Land Management and Other Operations	21		133
Total operating expenses	$	25,132	$	28,240
Gross (loss) profit:
Alico Citrus	$	(8,785)	$	(14,515)
Land Management and Other Operations	547		260
Total gross (loss) profit	$	(8,238)	$	(14,255)
Depreciation, depletion and amortization:
Alico Citrus	$	3,761	$	3,727
Land Management and Other Operations	22		20
Other Depreciation, Depletion and Amortization	41		57
Total depreciation, depletion and amortization	$	3,824	$	3,804

(in thousands)	December 31, 2024		September 30, 2024
Assets:
Alico Citrus	$	382,831	$	383,777
Land Management and Other Operations	13,043		13,134
Other Corporate Assets	1,722		1,808
Total Assets	$	397,596	$	398,719

The reconciliations of segment gross profit (loss) to consolidated income (loss) before income taxes are as follows:

	Three Months Ended December 31,
	2024		2023
Alico Citrus	$	(8,785)	$	(14,515)
Land Management and Other Operations	547		260
Segment gross loss	(8,238)		(14,255)
General and administrative expenses	2,586		3,272
Loss from operations	(10,824)		(17,527)
Other (expense) income, net:
Interest income	47		95
Interest expense	(898)		(1,605)
Gain on property and equipment	—		77,025
Other income, net	244		—
Total other (expense) income, net	(607)		75,515
(Loss) income before income taxes	$	(11,431)	$	57,988