Segment Information

9 Months Ended

Jun. 30, 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 June 30,				Nine Months Ended June 30,
	2025		2024		2025		2024
Revenues:
Alico Citrus	$	7,805	$	13,237	$	41,384	$	44,591
Land Management and Other Operations	585		373		1,880		1,117
Total operating revenues	$	8,390	$	13,610	43,264		45,708
Operating expenses:
Alico Citrus	$	36,304	$	17,813	229,022		82,062
Land Management and Other Operations	142		84		233		346
Total operating expenses	$	36,446	$	17,897	229,255		82,408
Gross (loss) profit:
Alico Citrus	$	(28,499)	$	(4,576)	(187,638)		(37,471)
Land Management and Other Operations	443		289		1,647		771
Total gross (loss) profit	$	(28,056)	$	(4,287)	$	(185,991)	$	(36,700)
Depreciation, depletion and amortization:
Alico Citrus	$	44,359	$	3,660	$	170,061	$	11,111
Land Management and Other Operations	11		9		55		46
Other Depreciation, Depletion and Amortization	169		46		684		160
Total depreciation, depletion and amortization	$	44,539	$	3,715	$	170,800	$	11,317

(in thousands)	June 30, 2025		September 30, 2024
Assets:
Alico Citrus	$	196,596	$	383,777
Land Management and Other Operations	12,491		13,134
Other Corporate Assets	1,473		1,808
Total Assets	$	210,560	$	398,719

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

	Three Months Ended June 30,				Nine Months Ended June 30,
	2025		2024		2025		2024
Alico Citrus	$	(28,499)	$	(4,576)	$	(187,638)	$	(37,471)
Land Management and Other Operations	443		289		1,647		771
Segment gross loss	(28,056)		(4,287)		(185,991)		(36,700)
General and administrative expenses	2,867		2,441		8,841		8,034
Loss from operations	(30,923)		(6,728)		(194,832)		(44,734)
Other income, net:
Interest income	153		95		259		345
Interest expense	(907)		(628)		(2,964)		(2,896)
Gain on sale of property and equipment	5,553		4,491		21,400		81,520
Other income, net	—		—		255		—
Total other income, net	4,799		3,958		18,950		78,969
(Loss) income before income taxes	$	(26,124)	$	(2,770)	$	(175,882)	$	34,235