v3.26.1
Segment Information
 6 Months Ended
Apr. 30, 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 April 30, 2026 is as follows (in thousands):
 Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$10,512 $11,339 $273 $406 $22,530 $1,396 $23,926 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits — 4,305 — — 4,305 — 4,305 
Packing supplies and fruit treatments — 2,452 — — 2,452 — 2,452 
Harvest costs 1,011 — 53 (54)1,010 — 1,010 
Growing costs 948 — 157 67 1,172 — 1,172 
Third party grower and supplier costs 9,450 — — 2 9,452 — 9,452 
Other segment items — 2,990 — — 2,990 841 3,831 
Impairment of assets— — — — — 9,324 9,324 
Loss and expected loss on disposal of assets, net — — — — — 7,821 7,821 
Other operating income— — — — — (1,114)(1,114)
Selling, general and administrative — — — — — 5,353 5,353 
Total costs and expenses, excluding depreciation and amortization 11,409 9,747 210 15 21,381 22,225 43,606 
Depreciation and amortization— — — — 1,777 237 2,014 
Operating (loss) income$(897)$1,592 $63 $391 $(628)$(21,066)$(21,694)
Total other expense(5,911)
Loss before income tax benefit$(27,605)
Segment information for the three months ended April 30, 2025 is as follows (in thousands):
 Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$13,456 $13,848 $2,780 $3,498 $33,582 $1,537 $35,119 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 4,544 — — 4,544 — 4,544 
Packing supplies and fruit treatments— 2,830 — — 2,830 — 2,830 
Harvest costs1,110 — 237 10 1,357 — 1,357 
Growing costs1,523 — 1,386 457 3,366 — 3,366 
Third party grower and supplier costs10,450 — — 1,988 12,438 — 12,438 
Other segment items— 4,752 — 551 5,303 835 6,138 
Loss on disposal of assets, net— — — — — 18 18 
Selling, general and administrative— — — — — 5,664 5,664 
Total costs and expenses, excluding depreciation and amortization13,083 12,126 1,623 3,006 29,838 6,517 36,355 
Depreciation and amortization— — — — 1,866 243 2,109 
Operating (loss) income$373 $1,722 $1,157 $492 $1,878 $(5,223)$(3,345)
Total other income281 
Loss before income tax provision$(3,064)
Segment information for the six months ended April 30, 2026 is as follows (in thousands):
 
Fresh Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$19,230 $18,297 $273 $1,486 $39,286 $2,845 $42,131 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 8,106 — — 8,106 — 8,106 
Packing supplies and fruit treatments— 4,499 — — 4,499 — 4,499 
Harvest costs2,009 — 53 115 2,177 — 2,177 
Growing costs3,496 — 186 874 4,556 — 4,556 
Third party grower and supplier costs16,942 — — 32 16,974 — 16,974 
Other segment items— 6,142 — 24 6,166 1,744 7,910 
Impairment of assets— — — — — 9,324 9,324 
Loss and expected loss on disposal of assets, net— — — — — 7,894 7,894 
Other operating income— — — — — (1,114)(1,114)
Selling, general and administrative— — — — — 9,878 9,878 
Total costs and expenses, excluding depreciation and amortization22,447 18,747 239 1,045 42,478 27,726 70,204 
Depreciation and amortization— — — — 3,699 473 4,172 
Operating (loss) income$(3,217)$(450)$34 $441 $(6,891)$(25,354)$(32,245)
Total other expense(7,369)
Loss before income tax benefit$(39,614)
Segment information for the six months ended April 30, 2025 is as follows (in thousands):
 Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$29,902 $25,663 $2,942 $7,927 $66,434 $2,990 $69,424 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 8,759 — — 8,759 — 8,759 
Packing supplies and fruit treatments— 5,941 — — 5,941 — 5,941 
Harvest costs2,871 — 252 55 3,178 — 3,178 
Growing costs4,449 — 1,408 1,771 7,628 — 7,628 
Third party grower and supplier costs22,922 — — 3,868 26,790 — 26,790 
Other segment items— 8,017 — 1,250 9,267 1,835 11,102 
Gain on sales of water rights— — — — — (1,488)(1,488)
Loss on disposal of assets, net— — — — — 12 12 
Selling, general and administrative— — — — — 12,068 12,068 
Total costs and expenses, excluding depreciation and amortization:30,242 22,717 1,660 6,944 61,563 12,427 73,990 
Depreciation and amortization— — — — 3,640 485 4,125 
Operating (loss) income$(340)$2,946 $1,282 $983 $1,231 $(9,922)$(8,691)
Total other income149 
Loss before income tax benefit$(8,542)
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
April 30,		Six Months Ended
April 30,
 2026202520262025
Oranges$10 $1,574 $20 $3,142 
Specialty citrus and wine grapes9 671 694 1,174 
Farm management— 339 — 1,520 
Other387 914 772 2,091 
Other agribusiness revenues$406 $3,498 $1,486 $7,927