UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Operating Activities
Net (loss) income	$ (3,179)	$ 42
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	2,110	1,921
Amortization of discount of marketable securities	(130)	(352)
Equity in earnings of unconsolidated joint ventures, net	(3,713)	(4,282)
Non-cash retirement plan expense	207	178
Gain on sale of property plant and equipment	(13)	(5)
Deferred income taxes	(31)	1
Stock compensation expense	1,290	2,354
Excess tax provision (benefit) from stock-based compensation	31	(1)
Distribution of earnings from unconsolidated joint ventures	1,653	674
Changes in operating assets and liabilities:
Receivables, inventories, prepaids and other assets, net	2,037	(1,104)
Current liabilities	(1,988)	(452)
Net cash used in operating activities	(1,726)	(1,026)
Investing Activities
Maturities and sales of marketable securities	23,655	76,869
Funds invested in marketable securities	(26,652)	(60,500)
Real estate and equipment expenditures	(37,146)	(22,077)
Reimbursement proceeds from Community Facilities District	0	3,309
Proceeds from sale of property plant and equipment	39	11
Investment in unconsolidated joint ventures	(238)	0
Distribution of equity from unconsolidated joint ventures	310	5,811
Investments in water assets	(9,519)	(5,066)
Net cash used in investing activities	(49,551)	(1,643)
Financing Activities
Borrowings on line of credit	15,000	4,000
Taxes on vested stock grants	(490)	(206)
Net cash provided by financing activities	14,510	3,794
(Decrease) increase in cash, cash equivalents, and restricted cash	(36,767)	1,125
Cash, cash equivalents, and restricted cash at beginning of period	39,767	32,407
Cash, cash equivalents, and restricted cash at end of period	3,000	33,532
Reconciliation to amounts on consolidated balance sheets:
Cash and cash equivalents	2,500	33,032
Restricted cash (included in prepaid expenses and other current assets)	500	500
Total cash, cash equivalents, and restricted cash	3,000	33,532
Non-cash investing activities
Accrued capital expenditures included in current liabilities	2,865	5,579
Accrued long-term water assets included in current liabilities	$ 1,552	$ 1,286