Schedule of disaggregation of revenue |
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(in thousands) |
Three Months Ended March 31, |
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Six Months Ended March 31, |
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2024 |
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2023 |
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2024 |
|
2023 |
Revenue recognized at a point-in-time |
$ |
16,974 |
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|
$ |
20,575 |
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|
$ |
29,959 |
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|
$ |
30,654 |
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Revenue recognized over time |
1,139 |
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|
719 |
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|
2,139 |
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|
1,228 |
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Total |
$ |
18,113 |
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|
$ |
21,294 |
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|
$ |
32,098 |
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|
$ |
31,882 |
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Revenues disaggregated by significant products and services for the three and six months ended March 31, 2024 and 2023 are as follows:
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(in thousands) |
Three Months Ended March 31, |
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Six Months Ended March 31, |
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2024 |
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2023 |
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2024 |
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2023 |
Alico Citrus |
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Early and Mid-Season |
$ |
2,139 |
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$ |
2,368 |
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$ |
14,534 |
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$ |
11,954 |
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Valencias |
14,732 |
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|
17,930 |
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|
14,732 |
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|
17,930 |
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Fresh Fruit and Other |
103 |
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|
277 |
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|
693 |
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|
770 |
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Grove Management Services |
788 |
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|
362 |
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|
1,395 |
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|
551 |
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Total |
$ |
17,762 |
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|
$ |
20,937 |
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|
$ |
31,354 |
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$ |
31,205 |
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Land Management and Other Operations |
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Land and Other Leasing |
$ |
278 |
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$ |
273 |
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$ |
592 |
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$ |
554 |
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Other |
73 |
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|
84 |
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|
152 |
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|
123 |
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Total |
$ |
351 |
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$ |
357 |
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$ |
744 |
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$ |
677 |
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Total Revenues |
$ |
18,113 |
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$ |
21,294 |
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$ |
32,098 |
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$ |
31,882 |
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Schedule of Short-Term Debt |
The carrying amounts and estimated fair values (Level 2) of debt instruments are as follows:
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(in thousands) |
March 31, 2024 |
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September 30, 2023 |
Carrying Amount |
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Estimated Fair Value |
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Carrying Amount |
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Estimated Fair Value |
Corporate debt |
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Current portion of long-term debt |
$ |
1,410 |
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$ |
1,367 |
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$ |
2,566 |
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$ |
2,325 |
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Long-term debt |
$ |
83,452 |
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$ |
75,934 |
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$ |
126,753 |
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$ |
115,851 |
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Schedule of Revenue by Major Customers by Reporting Segments |
Accounts receivable from the Company’s major customer as of March 31, 2024 and September 30, 2023, and revenue from such customer for the six months ended March 31, 2024 and 2023, are as follows:
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(in thousands) |
Accounts Receivable |
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Revenue |
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% of Total Revenue |
March 31, |
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September 30, |
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March 31, |
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March 31, |
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2024 |
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2023 |
|
2024 |
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2023 |
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2024 |
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2023 |
Tropicana |
$ |
8,106 |
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$ |
— |
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$ |
28,857 |
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$ |
28,065 |
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|
89.9 |
% |
|
88.0 |
% |
|