v3.25.2
Segments
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments

Note 10. Segments

 

The Company has two reportable operating segments, which consist of trucking logistics services and terminaling and storage product and services, and uses segment income/(loss) from operations to assess performance against forecasted results and allocate resources to its segments. Segment income/(loss) from operations is determined on the same basis as consolidated income/(loss) from operations presented in the Company’s consolidated statements of operations.

 

For information purposes, we have reported separately “Corporate and Other”, which is not determined to be an operating segment, but allows for analysis of non-operating entities and shared services and personnel that support both of the operating segments. Corporate and Other contains expenses for the corporate entity and non-operating entities, such as corporate overhead payroll expenses, stock-based compensation, corporate legal and audit expenses, impairment expense not related to operating segments, interest expense from loans at the corporate level, and amortization of intangible assets held at corporate and non-operating entities.

 

Our chief operating decision maker (CODM) is our Chief Executive Officer, James Ballengee. The CODM uses segment income/(loss) from operations before income taxes for purposes of allocating resources and evaluating financial performance predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis using the segment income/(loss) before taxes measure when making decisions about allocating capital and personnel to the segments. The CODM does not review assets in evaluating the results of the operating segments, and therefore, such information is not presented. Segment revenue, significant segment expenses, income/(loss) from operations, other income/(expense) and income/(loss) before income tax for the three and six months ended June 30, 2025 are as follows:

 

Three Months Ended June 30, 2025

 

                               
    Transportation
Logistics
Segment		     Terminaling
and Storage
Segment		     Corporate
and other		    

Total
Consolidated

  
Revenues   $ 7,601,942     $ 13,396,481       -     $ 20,998,423  
Revenues- related party     2,854,331       5,246,692       -       8,101,023  
Total revenues     10,456,273       18,643,173       -       29,099,446  
Cost of revenues     7,363,645       17,156,132       -       24,519,777  
Gross profit     3,092,628       1,487,041       -       4,579,669  
Operating expenses:                                
General and administrative     1,520,438       643,684     $ 2,321,344       4,485,466  
Amortization and depreciation     5,389,294       995,397       486,259       6,870,950  
Total operating expenses     6,909,732       1,639,081       2,807,603       11,356,416  
Loss from operations     (3,817,104 )     (152,040 )     (2,807,603 )     (6,776,747 )
                                 
Other income (expense):                                
Unrealized gain (loss) on marketable securities     -       -       (1,731,160 )     (1,731,160 )
Loss on disposition of asset     378,000       -       -       378,000  
Interest income     15,522       -       2,306       17,828  
Interest expense     (4,188,919 )     -       (194,791 )     (4,383,710 )
Interest expense- related parties     -       -       (53,121 )     (53,121 )
Other income     12,540       -       -       12,540  
Total other income (expense)     (3,782,857 )     -       (1,976,766 )     (5,759,623 )
Loss before provision for income taxes     (7,599,961 )     (152,040 )     (4,784,369 )     (12,536,370 )
Consolidated net loss     (7,599,961 )     (152,040 )     (4,784,369 )     (12,536,370 )
Less: Net loss attributable to noncontrolling interests     -       -              
Net loss attributable to Vivakor, Inc.   $ (7,599,961 )   $ (152,040 )   $ (4,784,369 )   $ (12,536,370 )

 

Six Months Ended June 30, 2025

 

                                 
    Transportation
Logistics
Segment		     Terminaling
and Storage
Segment		     Corporate
and other		     Total
Consolidated		  
Revenues   $ 18,563,956     $ 35,222,983       -     $ 53,786,939  
Revenues- related party     5,368,572       7,284,226       -       12,652,798  
Total revenues     23,932,528       42,507,209       -       66,439,737  
Cost of revenues     17,130,490       39,971,144       -       57,101,634  
Gross profit     6,802,038       2,536,065       -       9,338,103  
Operating expenses:                             -  
General and administrative     3,876,322       878,376     $ 5,100,045       9,854,743  
Amortization and depreciation     9,963,366       1,840,223       898,963       12,702,552  
Total operating expenses     13,839,688       2,718,599       5,999,008       22,557,295  
Loss from operations     (7,037,650 )     (182,534 )     (5,999,008 )     (13,219,192 )
                                 
Other income (expense):                                
Unrealized gain (loss) on marketable securities     -       -       (78,406 )     (78,406 )
Loss on disposition of asset     (1,219,913 )     -       -       (1,219,913 )
Interest income     38,697       -       4,613       43,310  
Interest expense     (5,128,348 )     -       (439,560 )     (5,567,908 )
Interest expense- related parties     -       -       (53,121 )     (53,121 )
Other income     25,080       -       -       25,080  
Total other income (expense)     (6,284,484 )     -       (566,474 )     (6,850,958 )
Loss before provision for income taxes     (13,322,134 )     (182,534 )     (6,565,482 )     (20,070,150 )
Consolidated net loss     (13,322,134 )     (182,534 )     (6,565,482 )     (20,070,150 )
Less: Net loss attributable to noncontrolling interests     -       -       (6,518 )     (6,518 )
Net loss attributable to Vivakor, Inc.   $ (13,322,134 )   $ (182,534 )   $ (6,558,964 )   $ (20,063,632 )