Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Information

Summary of selected financial data related to our segments


		Three Months Ended March 31, 2025
					Sustainable
		Beverage			Sourcing &
(Thousands)		Solutions			Traceability			Total
Net sales⁽¹⁾		$	164,079		$	49,717		$	213,796

Segment Adjusted EBITDA			9,583			1,928			11,511
Less:
Interest expense									12,599
Depreciation and amortization									11,755
Transaction, restructuring and integration expense									1,791
Equity-based compensation									3,331
Conway extract and ready-to-drink facility pre-production costs									4,449
Conway extract and ready-to-drink facility scale up operating costs									3,287
Mark-to-market adjustments									(2,073)
(Gain) loss on disposal of property, plant and equipment									7
Other									1,755
Loss before income taxes and equity in earnings from unconsolidated entities								$	(25,390)

Total assets			1,023,875			114,829			1,138,704

(1)	Excludes $3.9 million of intersegment revenues that represent sales of green coffee from our SS&T segment to our Beverage Solutions segment.


		Three Months Ended March 31, 2024
					Sustainable
		Beverage			Sourcing &
(Thousands)		Solutions			Traceability			Total
Net sales⁽¹⁾		$	158,059		$	34,441		$	192,500

Segment Adjusted EBITDA			10,800			342			11,142
Less:
Interest expense									7,579
Depreciation and amortization									7,548
Transaction, restructuring and integration expense									2,964
Change in fair value of warrant liabilities									(41)
Equity-based compensation									2,455
Conway extract and ready-to-drink facility pre-production costs									9,796
Mark-to-market adjustments									(1,640)
(Gain) loss on disposal of property, plant and equipment									2
Other									284
Loss before income taxes and equity in earnings from unconsolidated entities								$	(17,805)

Total assets			917,091			66,165			983,256

(1)	Excludes $1.9 million of intersegment revenues that represent sales of green coffee from our SS&T segment to our Beverage Solutions segment.

Summary of net sales information by geographic area


			Three Months Ended March 31, 2025
					Sustainable
		Beverage			Sourcing &
(Thousands)		Solutions			Traceability
Net Sales		$	164,079		$	49,717
Less:
Costs of sales			131,440			45,426
Employee related⁽¹⁾			11,806			1,789
Information technology			2,035			n/a
Advertising & marketing			716			n/a
Professional fees			2,093			n/a
Corporate insurance			1,595			n/a
Freight			3,008			n/a
Other segment expense⁽²⁾			1,803			574
Segment Adjusted EBITDA		$	9,583		$	1,928

(1)	Employee related costs are costs reported within selling, general and administrative expense in our Consolidated Statements of Operations, and include employee salaries, related taxes and benefits, short-term cash incentive compensation and travel and entertainment expenses.

(2)	Other segment expense includes equipment and real estate rent, equipment parts, supplies and service expenses and other overhead expenses.


			Three Months Ended March 31, 2024
					Sustainable
		Beverage			Sourcing &
(Thousands)		Solutions			Traceability
Net Sales		$	158,059		$	34,441
Less:
Costs of sales			120,487			31,806
Employee related⁽¹⁾			11,923			1,550
Information technology			1,374			n/a
Advertising & marketing			675			n/a
Professional fees			2,552			n/a
Corporate insurance			2,091			n/a
Freight			3,477			n/a
Other segment expense⁽²⁾			4,680			743
Segment Adjusted EBITDA		$	10,800		$	342

(1)	Employee related costs are costs reported within selling, general and administrative expense in our Consolidated Statements of Operations, and include employee salaries, related taxes and benefits, short-term cash incentive compensation and travel and entertainment expenses.

(2)	Other segment expense includes equipment and real estate rent, equipment parts, supplies and service expenses and other overhead expenses.