Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.26.1
Segment Information
 9 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
Note 10. Segment Information
Segments
Our Chief Executive Officer, who is also our CODM, assesses performance and allocates resources based on the operating performance of one reportable segment:
Beginning with the third quarter of fiscal year 2026 and after the substantial completion of the Company’s Strategic Transformation and final citrus harvest, our Chief Executive Officer, who is also our CODM, assesses performance and allocates resources based on the operating performance of a single reportable segment. The operating segment represents the primary components that engage in business activities from which they may earn revenues and incur expenses for which discrete financial information is available and which is regularly provided to the Company’s CODM.

In identifying our reportable segment, the Company also considered the nature of services provided by our operating segments, economic characteristics in which the segments operate and other relevant factors, such as the completion of our Citrus activities. Total revenues represent sales to or lease income from unaffiliated customers, as reported in the Consolidated Statements of Operations. The Company's CODM evaluates the performance based on Consolidated Net income (loss), EBITDA (defined as net income before interest expense, provision for income taxes, depreciation, depletion and amortization), Adjusted EBITDA (defined as EBITDA as further adjusted for impairment of long-lived assets and restructuring and other charges) and Net Debt (defined as Current portion of long-term debt, Long-term debt, net and Lines of credit, less cash). The CODM uses these performance metrics to evaluate the Company's liquidity position and cash burn rate, as indicators of the Company's ability to execute its long-term diversified land usage and real estate development strategy.

All prior year segment information has been recast to conform to the current quarter presentation. The change had no effect on the consolidated balance sheets, statements of operations, or statements of cash flows for the periods presented.
Three Months Ended June 30, Nine Months Ended June 30,
(in thousands) 2026 2025 2026 2025
Revenues
Alico Citrus $ 1,123  $ 7,805  $ 5,797  $ 41,384 
Land Management and Other Operations 7,917  585  10,470  1,880 
Total operating revenues 9,040  8,390  16,267  43,264 
Expenses
Operating expenses 4,994  36,446  22,363  229,255 
Depreciation, depletion and amortization included within operating expenses 2,119  44,370  12,718  170,116 
Operating expenses, excluding depreciation, depletion and amortization 2,875  (7,924) 9,645  59,139 
General and administrative expenses 2,258  2,867  8,492  8,841 
Depreciation, depletion and amortization included within general and administrative expenses 14  169  43  684 
General and administrative expenses, excluding Depreciation, depletion and amortization 2,244  2,698  8,449  8,157 
Gain on sale of property and equipment 98  5,553  24,767  21,400 
Income (loss) from operations $ 1,886  $ (25,370) $ 10,179  $ (173,432)
Three Months Ended June 30, Nine Months Ended June 30,
(in thousands) 2026 2025 2026 2025
Net income (loss) attributable to Alico, Inc. common stockholders $ 2,125  $ (18,289) $ 10,025  $ (138,841)
Interest expense, net 436  754  1,421  2,705 
Income tax benefit (93) (7,800) (476) (36,874)
Depreciation, depletion and amortization 2,133  44,539  12,761  170,800 
EBITDA 4,601  19,204  23,731  (2,210)
Non-GAAP Adjustments:
Impairment of long-lived assets —  —  —  24,966 
Restructuring and other charges —  69  471  2,574 
Adjusted EBITDA $ 4,601  $ 19,273  $ 24,202  $ 25,330 
(in thousands) June 30,
2026		 September 30,
2025
Current portion of long-term debt $ 250  $ 250 
Long-term debt, net 82,668  82,797 
Lines of credit 2,500  2,500 
Total Debt 85,418  85,547 
Less: Cash and cash equivalents (55,584) (38,128)
Net Debt $ 29,834  $ 47,419