| Segment Reporting [Text Block] |
NOTE 2 – REPORTABLE SEGMENTS
The Company currently operates in two reportable segments based upon its organizational structure and the way in which its operations are managed and evaluated. The Company’s largest segment is Land and Water Resources, which comprises all activities regarding its properties in the eastern Mojave Desert including pre-revenue development of the Mojave Groundwater Bank (supply, storage and conveyance), and agricultural operations. The Company’s second operating segment is its Water Treatment Technology business, consisting of ATEC Water Systems LLC (“ATEC”), which provides innovative water treatment solutions for impaired or contaminated groundwater sources. The Chief Operating Decision-Maker for our Land and Water Resources segment is the Chief Executive Officer of Cadiz Inc. and for the Water Treatment Technology segment is the Chief Executive Officer of ATEC.
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)/income information consisted of the following for the three and six ended June 30, 2026 and 2025:
| | | Three Months Ended June 30, 2026 | |
| (in thousands) | | Land and Water Resources | | | Water Treatment Technology | | | Total | |
| | | | | | | | | | | | | |
| Revenues | | | 219 | | | | 760 | | | | 979 | |
| | | | | | | | | | | | | |
| Costs and expenses: | | | | | | | | | | | | |
| Cost of sales | | | 423 | | | | 580 | | | | 1,003 | |
| General and administrative | | | 7,380 | | | | 1,044 | | | | 8,424 | |
| Depreciation | | | 372 | | | | 15 | | | | 387 | |
| | | | | | | | | | | | | |
| Total costs and expenses | | | 8,175 | | | | 1,639 | | | | 9,814 | |
| | | | | | | | | | | | | |
| Operating (loss) income | | $ | (7,956 | ) | | $ | (879 | ) | | $ | (8,835 | ) |
| | | Three Months Ended June 30, 2025 | |
| (in thousands) | | Land and Water Resources | | | Water Treatment Technology | | | Total | |
| | | | | | | | | | | | | |
| Revenues | | | 431 | | | | 3,695 | | | | 4,126 | |
| | | | | | | | | | | | | |
| Costs and expenses: | | | | | | | | | | | | |
| Cost of sales | | | 614 | | | | 2,051 | | | | 2,665 | |
| General and administrative | | | 5,750 | | | | 1,185 | | | | 6,935 | |
| Depreciation | | | 294 | | | | 9 | | | | 303 | |
| | | | | | | | | | | | | |
| Total costs and expenses | | | 6,658 | | | | 3,245 | | | | 9,903 | |
| | | | | | | | | | | | | |
| Operating (loss) income | | $ | (6,227 | ) | | $ | 450 | | | $ | (5,777 | ) |
| | | Six Months Ended June 30, 2026 | |
| (in thousands) | | Land and Water Resources | | | Water Treatment Technology | | | Total | |
| | | | | | | | | | | | | |
| Revenues | | | 577 | | | | 2,034 | | | | 2,611 | |
| | | | | | | | | | | | | |
| Costs and expenses: | | | | | | | | | | | | |
| Cost of sales | | | 705 | | | | 1,505 | | | | 2,210 | |
| General and administrative | | | 13,124 | | | | 2,177 | | | | 15,301 | |
| Depreciation | | | 744 | | | | 26 | | | | 770 | |
| | | | | | | | | | | | | |
| Total costs and expenses | | | 14,573 | | | | 3,708 | | | | 18,281 | |
| | | | | | | | | | | | | |
| Operating (loss) income | | $ | (13,996 | ) | | $ | (1,674 | ) | | $ | (15,670 | ) |
| | | Six Months Ended June 30, 2025 | |
| (in thousands) | | Land and Water Resources | | | Water Treatment Technology | | | Total | |
| | | | | | | | | | | | | |
| Revenues | | | 996 | | | | 6,084 | | | | 7,080 | |
| | | | | | | | | | | | | |
| Costs and expenses: | | | | | | | | | | | | |
| Cost of sales | | | 1,113 | | | | 3,630 | | | | 4,743 | |
| General and administrative | | | 13,147 | | | | 1,895 | | | | 15,042 | |
| Depreciation | | | 589 | | | | 16 | | | | 605 | |
| | | | | | | | | | | | | |
| Total costs and expenses | | | 14,849 | | | | 5,541 | | | | 20,390 | |
| | | | | | | | | | | | | |
| Operating (loss) income | | $ | (13,853 | ) | | $ | 543 | | | $ | (13,310 | ) |
Assets by operating segment are as follows (dollars in thousands):
| | | June 30, 2026 | | | December 31, 2025 | |
| Operating Segment: | | | | | | | | |
| Water and Land Resources | | $ | 126,887 | | | $ | 130,900 | |
| Water Treatment Technology | | | 7,876 | | | | 10,014 | |
| | | $ | 134,763 | | | $ | 140,914 | |
Goodwill by operating segment is as follows (dollars in thousands):
| | | June 30, 2026 | | | December 31, 2025 | |
| Operating Segment: | | | | | | | | |
| Water and Land Resources | | $ | 3,813 | | | $ | 3,813 | |
| Water Treatment Technology | | | 1,901 | | | | 1,901 | |
| | | $ | 5,714 | | | $ | 5,714 | |
Property, plant, equipment and water programs consist of the following (dollars in thousands):
| | | June 30, 2026 | |
| | | Water and Land Resources | | | Water Treatment Technology | | | Total | |
| | | | | | | | | | | | | |
| Land and land improvements | | $ | 39,211 | | | $ | - | | | $ | 39,211 | |
| Water programs | | | 32,457 | | | | - | | | | 32,457 | |
| Pipeline | | | 22,109 | | | | - | | | | 22,109 | |
| Buildings | | | 1,837 | | | | - | | | | 1,837 | |
| Leasehold improvements, furniture and fixtures | | | 1,616 | | | | 8 | | | | 1,624 | |
| Machinery and equipment | | | 4,076 | | | | 513 | | | | 4,589 | |
| Construction in progress | | | 7,655 | | | | 173 | | | | 7,828 | |
| | | | 108,961 | | | | 694 | | | | 109,655 | |
| Less accumulated depreciation | | | (12,369 | ) | | | (222 | ) | | | (12,591 | ) |
| | | $ | 96,592 | | | $ | 472 | | | $ | 97,064 | |
| | | December 31, 2025 | |
| | | Water and Land Resources | | | Water Treatment Technology | | | Total | |
| | | | | | | | | | | | | |
| Land and land improvements | | $ | 39,211 | | | $ | - | | | $ | 39,211 | |
| Water programs | | | 32,023 | | | | - | | | | 32,023 | |
| Pipeline | | | 22,106 | | | | - | | | | 22,106 | |
| Buildings | | | 1,805 | | | | - | | | | 1,805 | |
| Leasehold improvements, furniture and fixtures | | | 1,616 | | | | 7 | | | | 1,623 | |
| Machinery and equipment | | | 4,032 | | | | 395 | | | | 4,427 | |
| Construction in progress | | | 5,940 | | | | 78 | | | | 6,018 | |
| | | | 106,733 | | | | 480 | | | | 107,213 | |
| Less accumulated depreciation | | | (11,625 | ) | | | (204 | ) | | | (11,829 | ) |
| | | $ | 95,108 | | | $ | 276 | | | $ | 95,384 | |
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