v3.25.4
Segment Information
 3 Months Ended
Jan. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in four reportable operating segments: fresh lemons, lemon packing, avocados and other agribusiness. The reportable operating segments of the Company are strategic business units with different products and services, distribution processes and customer bases. The fresh lemons segment includes sales, growing and harvest costs and third-party grower and supplier costs related to fresh lemons. The lemon packing segment includes packing revenues and packing costs. Fresh lemons and lemon packing revenues relate to lemons grown on the Company’s orchards and lemons procured from third-party growers. The avocados segment includes sales, farming and harvest costs. The other agribusiness segment primarily includes sales, growing and harvest costs, brokered fruit costs of oranges and specialty citrus, wine grapes, fallowing revenue, shipping revenue and shipping costs, and included farm management in fiscal year 2025. During fiscal year 2025, the Company changed its presentation of fresh lemons and lemon packing revenue and costs to remove reference to intersegment revenue, intersegment costs and expenses and eliminations.
The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The Company’s CODM measures the operating performance of the Company’s operating segments and allocates resources based on its evaluation. Revenues and operating income or loss, excluding depreciation and amortization, are used to monitor budget versus actual results. The significant expense categories and amounts align with the segment-level information that is regularly provided to the Company’s CODM. No asset information is provided for reportable operating segments, as these specified amounts are not included in the measure of segment profit or loss reviewed by the Company’s CODM. The Company does not separately allocate depreciation and amortization to its fresh lemons, lemon packing, avocados and other agribusiness segments. The Company also does not allocate various gains or losses included in operating income or loss, selling, general and administrative expenses, total other income or expense and income taxes, or specifically identify them to its operating segments.
The Company adopted ASU 2023-07 as of fiscal year 2025 and, as a result, expanded its segment information to include significant segment expenses and other segment items. Other segment items for the lemon packing segment include lease expenses, utilities, repairs and maintenance, professional assessments and fees, insurance, property taxes, custom packing and other packinghouse operational expenses. Other segment items for the other agribusiness segment are primarily shipping expenses. Other segment items in Corporate and Other include rental and operations expenses. Prior year information has been recast to conform to the current year presentation.
Segment information for the three months ended January 31, 2026 is as follows (in thousands):
 Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$8,718 $6,958 $— $1,080 $16,756 $1,449 $18,205 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits — 3,801 — — 3,801 — 3,801 
Packing supplies and fruit treatments — 2,047 — — 2,047 — 2,047 
Harvest costs 998 — — 169 1,167 — 1,167 
Growing costs 2,548 — 29 807 3,384 — 3,384 
Third party grower and supplier costs 7,492 — — 30 7,522 — 7,522 
Other segment items — 3,152 — 24 3,176 903 4,079 
Loss on disposal of assets, net — — — — — 73 73 
Selling, general and administrative — — — — — 4,525 4,525 
Total costs and expenses, excluding depreciation and amortization 11,038 9,000 29 1,030 21,097 5,501 26,598 
Depreciation and amortization— — — — 1,922 236 2,158 
Operating (loss) income$(2,320)$(2,042)$(29)$50 $(6,263)$(4,288)$(10,551)
Total other expense(1,458)
Loss before income tax benefit$(12,009)
17. Segment Information (continued)
Segment information for the three months ended January 31, 2025 is as follows (in thousands):
 Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$16,446 $11,815 $162 $4,429 $32,852 $1,453 $34,305 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 4,215 — — 4,215 — 4,215 
Packing supplies and fruit treatments— 3,111 — — 3,111 — 3,111 
Harvest costs1,761 — 15 45 1,821 — 1,821 
Growing costs2,926 — 22 1,314 4,262 — 4,262 
Third party grower and supplier costs12,472 — — 1,880 14,352 — 14,352 
Other segment items— 3,265 — 699 3,964 1,000 4,964 
Gain on sale of water rights— — — — — (1,488)(1,488)
Gain on disposal of assets, net— — — — — (6)(6)
Selling, general and administrative— — — — — 6,404 6,404 
Total costs and expenses, excluding depreciation and amortization17,159 10,591 37 3,938 31,725 5,910 37,635 
Depreciation and amortization— — — — 1,774 242 2,016 
Operating (loss) income$(713)$1,224 $125 $491 $(647)$(4,699)$(5,346)
Total other expense(132)
Loss before income tax benefit$(5,478)
Revenue related to rental operations are included in “Corporate and Other.” The detail of other agribusiness revenues is as follows (in thousands):
 Three Months Ended
January 31,
 20262025
Oranges$10 $1,568 
Specialty citrus and wine grapes685 503 
Farm management— 1,181 
Other385 1,177 
Other agribusiness revenues$1,080 $4,429