Note 16 - Reportable Segment |
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| Segment Reporting [Text Block] |
16. Reportable Segments
Under ASC 280, Segment Reporting, operating segments are components for which discrete financial information is regularly reviewed by the chief operating decision maker ("CODM") in allocating resources and assessing performance. The Company has operating and reportable segment: Superfood.
The Superfood segment, which is comprised of the Laird Superfood, Navitas, and Terrasoul brands, sells clean, functional coffee creamers, coffee, tea, and hot chocolate, hydration and beverage-enhancing products, organic superfood ingredients, and functional snacks.
Substantially all revenue is domestic; see Note 15 for revenue by product group and channel. Segment accounting policies are consistent with the Company's significant accounting policies, and there are no intersegment sales. The CODM is the Chief Executive Officer.
The CODM allocates resources and assesses performance using segment net loss. Significant segment expenses regularly provided to the CODM are cost of goods sold, general and administrative, marketing and advertising, and selling; other segment items are other income and income taxes. The CODM also reviews Adjusted EBITDA, which adjusts segment net loss for depreciation and amortization, stock-based compensation, income tax, other income, and business combination and integration costs. Segment assets equal consolidated total assets.
The Company acquired Navitas in March 2026 (operations from March 13, 2026) and Terrasoul in April 2026 (operations from April 22, 2026) and is integrating these brands into the Superfood segment.
Segment results and the reconciliation of net loss to Adjusted EBITDA follow.
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