v3.26.1
Segment Information
 9 Months Ended
Jul. 31, 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, shipping, cold storage, 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 July 31, 2026 is as follows (in thousands):
Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$17,864 $15,891 $8,029 $381 $42,165 $1,644 $43,809 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits — 5,248 — — 5,248 — 5,248 
Packing supplies and fruit treatments — 3,758 — — 3,758 — 3,758 
Harvest costs 2,210 — 1,306 — 3,516 — 3,516 
Growing costs 1,360 — 4,065 239 5,664 — 5,664 
Third party grower and supplier costs 12,926 — — — 12,926 — 12,926 
Other segment items — 4,428 — — 4,428 871 5,299 
Impairment of assets— — — — — 4,129 4,129 
Loss and expected loss on disposal of assets, net — — — — — 335 335 
Selling, general and administrative — — — — — 3,946 3,946 
Total costs and expenses, excluding depreciation and amortization 16,496 13,434 5,371 239 35,540 9,281 44,821 
Depreciation and amortization— — — — 1,712 236 1,948 
Operating (loss) income$1,368 $2,457 $2,658 $142 $4,913 $(7,873)$(2,960)
Total other expense(1,016)
Loss before income tax benefit$(3,976)
17. Segment Information (continued)
Segment information for the three months ended July 31, 2025 is as follows (in thousands):
Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$19,630 $14,556 $8,488 $3,268 $45,942 $1,536 $47,478 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 6,008 — — 6,008 — 6,008 
Packing supplies and fruit treatments— 3,801 — — 3,801 — 3,801 
Harvest costs2,815 — 1,073 21 3,909 — 3,909 
Growing costs1,480 — 2,660 (84)4,056 — 4,056 
Third party grower and supplier costs16,510 — — 2,160 18,670 — 18,670 
Other segment items— 2,915 — 449 3,364 913 4,277 
Loss on disposal of assets, net— — — — — 15 15 
Selling, general and administrative— — — — — 4,890 4,890 
Total costs and expenses, excluding depreciation and amortization20,805 12,724 3,733 2,546 39,808 5,818 45,626 
Depreciation and amortization— — — — 2,242 240 2,482 
Operating (loss) income$(1,175)$1,832 $4,755 $722 $3,892 $(4,522)$(630)
Total other expense(104)
Loss before income tax provision$(734)
Segment information for the nine months ended July 31, 2026 is as follows (in thousands):

Fresh Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$37,094 $34,188 $8,302 $1,867 $81,451 $4,489 $85,940 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 13,354 — — 13,354 — 13,354 
Packing supplies and fruit treatments— 8,257 — — 8,257 — 8,257 
Harvest costs4,219 — 1,359 115 5,693 — 5,693 
Growing costs4,856 — 4,251 1,113 10,220 — 10,220 
Third party grower and supplier costs29,868 — — 32 29,900 — 29,900 
Other segment items— 10,570 — 24 10,594 2,615 13,209 
Impairment of assets— — — — — 13,453 13,453 
Loss and expected loss on disposal of assets, net— — — — — 8,229 8,229 
Other operating income— — — — — (1,114)(1,114)
Selling, general and administrative— — — — — 13,824 13,824 
Total costs and expenses, excluding depreciation and amortization38,943 32,181 5,610 1,284 78,018 37,007 115,025 
Depreciation and amortization— — — — 5,411 709 6,120 
Operating (loss) income$(1,849)$2,007 $2,692 $583 $(1,978)$(33,227)$(35,205)
Total other expense(8,385)
Loss before income tax benefit$(43,590)
Segment information for the nine months ended July 31, 2025 is as follows (in thousands):
Fresh
Lemons		Lemon
Packing
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$49,532 $40,219 $11,430 $11,195 $112,376 $4,526 $116,902 
Costs and expenses, excluding depreciation and amortization:
Labor and benefits— 14,767 — — 14,767 — 14,767 
Packing supplies and fruit treatments— 9,742 — — 9,742 — 9,742 
Harvest costs5,686 — 1,325 76 7,087 — 7,087 
Growing costs5,929 — 4,068 1,687 11,684 — 11,684 
Third party grower and supplier costs39,432 — — 6,028 45,460 — 45,460 
Other segment items— 10,932 — 1,699 12,631 2,748 15,379 
Gain on sales of water rights— — — — — (1,488)(1,488)
Loss on disposal of assets, net— — — — — 27 27 
Selling, general and administrative— — — — — 16,958 16,958 
Total costs and expenses, excluding depreciation and amortization:51,047 35,441 5,393 9,490 101,371 18,245 119,616 
Depreciation and amortization— — — — 5,882 725 6,607 
Operating (loss) income$(1,515)$4,778 $6,037 $1,705 $5,123 $(14,444)$(9,321)
Total other income45 
Loss before income tax benefit$(9,276)
Revenue related to rental operations are included in “Corporate and Other.” The detail of other agribusiness revenues is as follows (in thousands):
Three Months Ended
July 31,		Nine Months Ended
July 31,
2026202520262025
Oranges$— $1,696 $20 $4,838 
Specialty citrus and wine grapes— 618 687 1,792 
Farm management— 102 — 1,622 
Other381 852 1,160 2,943 
Other agribusiness revenues$381 $3,268 $1,867 $11,195