Quarterly report [Sections 13 or 15(d)]

Summary of Significant Accounting Policies (Tables)

v3.25.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue
(in thousands) Three Months Ended
June 30,
Nine Months Ended
June 30,
2025 2024 2025 2024
Revenue recognized at a point-in-time $ 7,798  $ 12,291  $ 40,496  $ 42,250 
Revenue recognized over time 592  1,319  2,768  3,458 
Total $ 8,390  $ 13,610  $ 43,264  $ 45,708 
Revenues disaggregated by significant products and services for the three and nine months ended June 30, 2025 and 2024 are as follows:
(in thousands) Three Months Ended
June 30,
Nine Months Ended
June 30,
2025 2024 2025 2024
Alico Citrus
Early and Mid-Season $ —  $ —  $ 15,577  $ 14,534 
Valencias 7,795  12,183  24,088  26,915 
Fresh Fruit and Other 108  831  801 
Grove Management Services 946  888  2,341 
Total $ 7,805  $ 13,237  $ 41,384  $ 44,591 
Land Management and Other Operations
Land and Other Leasing $ 496  $ 302  $ 1,649  $ 894 
Other 89  71  231  223 
Total $ 585  $ 373  $ 1,880  $ 1,117 
Total Revenues $ 8,390  $ 13,610  $ 43,264  $ 45,708 
Schedule of Revenues Disaggregated by Significant Products and Services
(in thousands) Three Months Ended
June 30,
Nine Months Ended
June 30,
2025 2024 2025 2024
Revenue recognized at a point-in-time $ 7,798  $ 12,291  $ 40,496  $ 42,250 
Revenue recognized over time 592  1,319  2,768  3,458 
Total $ 8,390  $ 13,610  $ 43,264  $ 45,708 
Revenues disaggregated by significant products and services for the three and nine months ended June 30, 2025 and 2024 are as follows:
(in thousands) Three Months Ended
June 30,
Nine Months Ended
June 30,
2025 2024 2025 2024
Alico Citrus
Early and Mid-Season $ —  $ —  $ 15,577  $ 14,534 
Valencias 7,795  12,183  24,088  26,915 
Fresh Fruit and Other 108  831  801 
Grove Management Services 946  888  2,341 
Total $ 7,805  $ 13,237  $ 41,384  $ 44,591 
Land Management and Other Operations
Land and Other Leasing $ 496  $ 302  $ 1,649  $ 894 
Other 89  71  231  223 
Total $ 585  $ 373  $ 1,880  $ 1,117 
Total Revenues $ 8,390  $ 13,610  $ 43,264  $ 45,708 
Schedule of Restricted Cash
Restricted Cash

(in thousands) June 30,
2025
September 30,
2024
Cash and cash equivalents $ 42,073  $ 3,150 
Restricted cash (a)
762  248 
Cash and cash equivalents and restricted cash $ 42,835  $ 3,398 
a.    Restricted cash represents Cash-Secured Irrevocable Standby Letters of Credit of $762 to secure certain contractual obligations at June 30, 2025 and Cash-Secured Irrevocable Standby Letters of Credit of $248 to secure certain contractual obligations at September 30, 2024.
Schedule of Restricted Cash
Restricted Cash

(in thousands) June 30,
2025
September 30,
2024
Cash and cash equivalents $ 42,073  $ 3,150 
Restricted cash (a)
762  248 
Cash and cash equivalents and restricted cash $ 42,835  $ 3,398 
a.    Restricted cash represents Cash-Secured Irrevocable Standby Letters of Credit of $762 to secure certain contractual obligations at June 30, 2025 and Cash-Secured Irrevocable Standby Letters of Credit of $248 to secure certain contractual obligations at September 30, 2024.
Schedule of Short-Term Debt The carrying amounts and estimated fair values (Level 2) of debt instruments are as follows:
(in thousands) June 30, 2025 September 30, 2024
Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value
Corporate debt
Current portion of long-term debt $ 1,410  $ 1,413  $ 1,410  $ 1,420 
Long-term debt $ 84,190  $ 80,225  $ 91,141  $ 86,987 
Schedule of Weighted Average Number of Shares
The following table presents a reconciliation of basic to diluted weighted average common shares outstanding for the three and nine months ended June 30, 2025 and 2024:
(in thousands) Three Months Ended June 30, Nine Months Ended
June 30,
2025 2024 2025 2024
Weighted Average Common Shares Outstanding – Basic 7,641  7,624  7,637  7,620 
Effect of dilutive securities – stock options and unrestricted stock —  —  —  — 
Weighted Average Common Shares Outstanding – Diluted 7,641  7,624  7,637  7,620 
Schedule of Revenue by Major Customers by Reporting Segments
Accounts receivable from the Company’s major customer as of June 30, 2025 and September 30, 2024, and revenue from such customer for the nine months ended June 30, 2025 and 2024, are as follows:

(in thousands) Accounts Receivable Revenue % of Total Revenue
June 30, September 30, Nine Months Ended
June 30,
Nine Months Ended
June 30,
2025 2024 2025 2024 2025 2024
Tropicana $ —  $ —  $ 38,434  $ 40,456  88.8 % 88.5 %