v3.26.1
Note 3 - Reportable Segments
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 3 REPORTABLE SEGMENTS

 

We evaluate our performance based on segment operating (loss). Interest expense, income tax expense and losses related to equity method investments are excluded from the computation of operating (loss) for the segments. Segment net revenue, segment operating expenses and segment operating (loss) information consisted of the following for the years ended December 31, 2025 and 2024:

 

 

  

Twelve Months Ended December 31, 2025

 

(in thousands)

 

Land and Water Resources

  

Water Filtration Technology

  

Total

 
             

Revenues

 $1,835  $14,478  $16,313 
             

Costs and expenses:

            

Cost of sales

  3,687   7,476   11,163 

General and administrative

  25,013   4,471   29,484 

Depreciation

  1,228   36   1,264 
             

Total costs and expenses

  29,928   11,983   41,911 
             

Operating income (loss)

 $(28,093) $2,495  $(25,598)

 

  

Twelve Months Ended December 31, 2024

 

(in thousands)

 

Land and Water Resources

  

Water Filtration Technology

  

Total

 
             

Revenues

 $1,708  $7,900  $9,608 
             

Costs and expenses:

            

Cost of sales

  2,984   4,314   7,298 

General and administrative

  22,525   1,820   24,345 

Depreciation

  1,159   55   1,214 
             

Total costs and expenses

  26,668   6,189   32,857 
             

Operating income (loss)

 $(24,960) $1,711  $(23,249)

 

Assets by operating segment, inclusive of goodwill, are as follows (dollars in thousands):

 

  

December 31,

2025

  

December 31,

2024

 

Operating Segment:

        

Water and Land Resources

 $130,900  $123,786 

Water Filtration Technology

  10,014   10,708 
  $140,914  $134,494 

 

Goodwill by operating segment is as follows (dollars in thousands):

 

  

December 31,

2025

  

December 31,

2024

 

Operating Segment:

        

Water and Land Resources

 $3,813  $3,813 

Water Filtration Technology

  1,901   1,901 
  $5,714  $5,714 

 

Property, plant, equipment and water programs consist of the following (dollars in thousands):

 

 

  

December 31, 2025

 
  

Water and Land

Resources

  

Water Filtration

Technology

 
         

Land and land improvements

 $39,211  $- 

Water programs

  32,023   - 

Pipeline

  22,106   - 

Buildings

  1,805   - 

Leasehold improvements, furniture and fixtures

  1,616   7 

Machinery and equipment

  4,032   395 

Construction in progress

  5,940   78 
   106,733   480 

Less accumulated depreciation

  (11,625)  (204)
  $95,108  $276 

 

  

December 31, 2024

 
  

Water and Land Resources

  

Water Filtration Technology

 
         

Land and land improvements

 $33,069  $- 

Water programs

  29,383   - 

Pipeline

  22,100   - 

Buildings

  1,805   - 

Leasehold improvements, furniture and fixtures

  1,605   4 

Machinery and equipment

  3,870   247 

Construction in progress

  6,851   6 
   98,683   257 

Less accumulated depreciation

  (10,397)  (181)
  $88,286  $76