v3.26.1
Segment Data
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Data
12.
SEGMENT DATA

The Company defines its segments on the basis of the way in which internally reported financial information is regularly reviewed by the Chief Operating Decision Maker (“CODM”) to analyze financial performance, make decisions, and allocate resources. The Company's CODM is the Chief Executive Officer. The Company manages its operations as a single operating and reportable segment, which is the production and sale of nutraceuticals and plant-based foods. As internal reporting is based on the consolidated results, the Company has identified one reporting and reportable segment. The CODM uses net loss and cash flow information in the budget and forecasting process and considers budget-to-actual variances on a regular basis when making decisions about the allocation of operating and capital resources. The measure of the operating segment assets is reported on the consolidated balance sheet as total assets.

The Company's reportable segment product sales, net and net loss for the three and six months ended June 30, 2026 and 2025 consisted of the following (in thousands):

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Product sales, net

 

$

2,985

 

 

$

3,620

 

 

$

6,180

 

 

$

7,226

 

Cost of goods sold

 

 

1,535

 

 

 

1,776

 

 

 

3,168

 

 

 

3,724

 

Gross profit

 

 

1,450

 

 

 

1,844

 

 

 

3,012

 

 

 

3,502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expense

 

 

18

 

 

 

50

 

 

 

36

 

 

 

80

 

Sales expense

 

 

644

 

 

 

718

 

 

 

1,317

 

 

 

1,449

 

Marketing expense

 

 

381

 

 

 

371

 

 

 

782

 

 

 

819

 

General and administrative expense

 

 

708

 

 

 

836

 

 

 

1,496

 

 

 

1,796

 

Benefit from reversal of accrued payroll taxes

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(522

)

Total operating expenses

 

 

1,751

 

 

 

1,975

 

 

 

3,631

 

 

 

3,622

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating loss

 

 

(301

)

 

 

(131

)

 

 

(619

)

 

 

(120

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expense (income):

 

 

 

 

 

 

 

 

 

 

 

 

Gain on extinguishment of debt

 

 

—

 

 

 

—

 

 

 

(20

)

 

 

(38

)

Loss on debt conversions

 

 

104

 

 

 

—

 

 

 

249

 

 

 

—

 

Change in fair value of convertible notes

 

 

364

 

 

 

—

 

 

 

471

 

 

 

—

 

Interest expense, net

 

 

1

 

 

 

130

 

 

 

94

 

 

 

281

 

Total other expense

 

 

469

 

 

 

130

 

 

 

794

 

 

 

243

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

 

(770

)

 

 

(261

)

 

 

(1,413

)

 

 

(363

)

Income tax expense

 

 

5

 

 

 

—

 

 

 

5

 

 

 

7

 

Net loss

 

$

(775

)

 

$

(261

)

 

$

(1,418

)

 

$

(370

)