Quarterly report [Sections 13 or 15(d)]

Inventories

v3.25.4
Inventories
3 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories
Note 3. Inventories
Inventories consist of the following at December 31, 2025 and September 30, 2025:
(in thousands) December 31,
2025
September 30,
2025
Unharvested fruit crop on the trees $ 4,184  $ 3,859 
Other 440  361 
Total inventories $ 4,624  $ 4,220 
The Company records its inventory at the lower of cost or net realizable value.
For the three months ended December 31, 2025, the Company did not recognize an inventory adjustment. For the three months ended December 31, 2024, the Company recorded an inventory adjustment of $7,359, to reduce inventory to net realizable value within Operating expenses. The inventory adjustment during the three months ended December 31, 2024 was due to a lower than anticipated harvest of the Early and Mid-Season crop and a reduction in our estimate for the Valencia harvest, as a result of Hurricane Milton, which hit in October 2024.