Restructure and Other Charges |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructure and Other Charges |
Note 7. Restructure and Other Charges
During the three and nine months ended June 30, 2026, the Company accrued for severance costs principally consisting of salary continuation and health benefits for six employees. As these employees are covered under the Company’s pre-existing, ongoing severance policy, the associated termination benefits are accounted for under ASC 712-10, Other Post Employment Benefits. As a result, during the three and nine months ended June 30, 2026, respectively, the Company accrued severance costs for these employees of zero and $471, respectively, when the Company determined that the liability was probable and estimable. All of these employees exited the Company by March 31, 2026.
On January 3, 2025, the Board approved the Strategic Transformation and associated reduction in the Company’s current workforce by up to 172 employees. This workforce reduction was effective on January 6, 2025 with respect to 135 employees, and was effective between April 1, 2025 and May 30, 2025 with respect to 34 employees (see Note 1. Description of Business and Basis of Presentation for further information on the Strategic Transformation).
These Restructure and other charges were incurred in the Company’s Citrus Segment with Personnel costs of $2,029 and $232 being recognized in Operating expenses and General and administrative expenses during the nine months ended June 30, 2025, respectively, and Other costs of $313, principally representing legal costs, recognized in General and administrative expense during the nine months ended June 30, 2025 (see Note 5. Property and Equipment, Net for information on the Asset Impairment).
As of June 30, 2025, the Company accrued for the Personnel and Other restructure expenses within Accrued expenses and incurred an additional $64 in personnel related costs in connection with the restructuring plan in the fiscal year.
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