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Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Information

Summary of selected financial data related to our segments


		Three Months Ended June 30, 2024
					Sustainable						Total of
		Beverage			Sourcing &			Intersegment			Reportable
(Thousands)		Solutions			Traceability			Revenues			Segments
Net sales		$	163,253		$	46,740		$	(1,604)		$	208,389

Adjusted EBITDA			13,245			419			n/a			13,664
Less:
Interest expense												7,453
Income tax expense (benefit)												(4,645)
Depreciation and amortization												7,968
Transaction, restructuring and integration expense												4,399
Change in fair value of warrant liabilities												(1,612)
Equity-based compensation												3,025
Impairment charges												831
Conway extract and ready-to-drink facility start-up costs												13,612
Mark-to-market adjustments												(1,522)
Loss (gain) on disposal of property, plant and equipment												971
Other												943
Net loss											$	(17,759)

Total assets			965,250			91,123			n/a			1,056,373


		Three Months Ended June 30, 2023
					Sustainable						Total of
		Beverage			Sourcing &			Intersegment			Reportable
(Thousands)		Solutions			Traceability			Revenues			Segments
Net sales		$	189,719		$	36,048		$	(1,073)		$	224,694

Adjusted EBITDA			11,660			(350)			n/a			11,310
Less:
Interest expense												7,385
Income tax expense (benefit)												6,240
Depreciation and amortization												6,181
Transaction, restructuring and integration expense												2,901
Change in fair value of warrant liabilities												11,800
Equity-based compensation												2,310
Conway extract and ready-to-drink facility start-up costs												1,711
Mark-to-market adjustments												(969)
Other												562
Net loss											$	(26,811)

Total assets			727,471			94,837			n/a			822,308


		Six Months Ended June 30, 2024
					Sustainable						Total of
		Beverage			Sourcing &			Intersegment			Reportable
(Thousands)		Solutions			Traceability			Revenues			Segments
Net sales		$	321,312		$	83,060		$	(3,483)		$	400,889

Adjusted EBITDA			24,045			761			n/a			24,806
Less:
Interest expense												15,032
Income tax expense (benefit)												1,170
Depreciation and amortization												15,516
Transaction, restructuring and integration expense												7,363
Change in fair value of warrants												(1,653)
Equity-based compensation												5,481
Impairment charges												831
Conway extract and ready-to-drink facility start-up costs												23,408
Mark-to-market adjustments												(3,162)
Loss (gain) on disposal of property, plant and equipment												973
Other												1,279
Net loss											$	(41,432)

Total assets			965,250			91,123			n/a			1,056,373


		Six Months Ended June 30, 2023
					Sustainable						Total of
		Beverage			Sourcing &			Intersegment			Reportable
(Thousands)		Solutions			Traceability			Revenues			Segments
Net sales		$	370,928		$	61,439		$	(2,231)		$	430,136

Adjusted EBITDA			20,081			(318)			n/a			19,763
Less:
Interest expense												13,414
Income tax expense (benefit)												1,881
Depreciation and amortization												12,055
Transaction, restructuring and integration expense												9,545
Change in fair value of warrants												6,272
Management and consulting fees (S&D acquisition)												556
Equity-based compensation												3,857
Conway extract and ready-to-drink facility start-up costs												3,580
Mark-to-market adjustments												(2,205)
Loss (gain) on disposal of property, plant and equipment												896
Other												1,049
Net loss											$	(31,137)

Total assets			727,471			94,837			n/a			822,308