Segment Information

6 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

Note 10. 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 March 31,				Six Months Ended March 31,
	2025		2024		2025		2024
Revenues:
Alico Citrus	$	17,253	$	17,762	$	33,579	$	31,354
Land Management and Other Operations	727		351		1,295		744
Total operating revenues	$	17,980	$	18,113	34,874		32,098
Operating expenses:
Alico Citrus	$	167,607	$	36,142	192,718		64,249
Land Management and Other Operations	70		129		91		262
Total operating expenses	$	167,677	$	36,271	192,809		64,511
Gross (loss) profit:
Alico Citrus	$	(150,354)	$	(18,380)	(159,139)		(32,895)
Land Management and Other Operations	657		222		1,204		482
Total gross (loss) profit	$	(149,697)	$	(18,158)	$	(157,935)	$	(32,413)
Depreciation, depletion and amortization:
Alico Citrus	$	121,941	$	3,724	$	125,702	$	7,451
Land Management and Other Operations	22		17		44		37
Other Depreciation, Depletion and Amortization	474		57		515		114
Total depreciation, depletion and amortization	$	122,437	$	3,798	$	126,261	$	7,602

(in thousands)	March 31, 2025		September 30, 2024
Assets:
Alico Citrus	$	228,168	$	383,777
Land Management and Other Operations	13,397		13,134
Other Corporate Assets	1,600		1,808
Total Assets	$	243,165	$	398,719

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

	Three Months Ended March 31,				Six Months Ended March 31,
	2025		2024		2025		2024
Alico Citrus	$	(150,354)	$	(18,380)	$	(159,139)	$	(32,895)
Land Management and Other Operations	657		222		1,204		482
Segment gross loss	(149,697)		(18,158)		(157,935)		(32,413)
General and administrative expenses	3,388		2,321		5,974		5,593
Loss from operations	(153,085)		(20,479)		(163,909)		(38,006)
Other income (expense), net:
Interest income	59		155		106		250
Interest expense	(1,159)		(663)		(2,057)		(2,268)
Gain on sale of property and equipment	15,847		4		15,847		77,029
Other income, net	11		—		255		—
Total other income (expense), net	14,758		(504)		14,151		75,011
(Loss) income before income taxes	$	(138,327)	$	(20,983)	$	(149,758)	$	37,005