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Disaggregation of Revenue and Significant Customers
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Disaggregation of Revenue and Significant Customers

Note 13 – Disaggregation of Revenue and Significant Customers

 

Lifeway’s primary product is drinkable kefir. The Company manufactures (directly or through a co-manufacturer) and markets products under the Lifeway, Fresh Made, and GlenOaks Farms brand names, as well as under private labels on behalf of certain customers.

  

The Company’s product categories are:

 

  · Drinkable kefir, a cultured dairy product sold in a variety of organic and non-organic sizes, flavors, and types.
  · European-style soft cheeses, including farmer cheese, white cheese, and Sweet Kiss.
  · Cream and other, which primarily consists of cream, a byproduct of raw milk processing.
  · Drinkable yogurt, sold in a variety of sizes and flavors.
  · ProBugs, a line of kefir products designed for children.
  · Other dairy, which primarily consists of Fresh Made butter and sour cream.

 

Net sales of products by category were as follows for the six months ended June 30:

                 
   2024   2023 
In thousands  $   %   $   % 
                 
Drinkable Kefir other than ProBugs   77,543    83%    61,139    79% 
Cheese   6,892    7%    6,721    9% 
Cream and other   3,987    4%    3,551    5% 
Drinkable Yogurt   2,918    3%    3,275    4% 
ProBugs Kefir   1,750    2%    1,670    2% 
Other dairy   701    1%    778    1% 
Net Sales   93,791    100%    77,134    100% 

 

Net sales of products by category were as follows for the three months ended June 30:

                 
   2024   2023 
In thousands  $   %   $   % 
                 
Drinkable Kefir other than ProBugs   41,010    83%    31,339    80% 
Cheese   3,377    7%    3,376    9% 
Cream and other   2,171    4%    1,659    4% 
Drinkable Yogurt   1,382    3%    1,631    4% 
ProBugs Kefir   884    2%    862    2% 
Other dairy   333    1%    363    1% 
Net Sales   49,157    100%    39,230    100% 

 

Significant Customers

 

Sales are predominately to companies in the retail food industry located within the United States. Two major customers accounted for a total of approximately 26% and 23% of net sales for the six months ended June 30, 2024 and 2023, respectively. Two major customers accounted for a total of approximately 27% and 22% of net sales for the three months ended June 30, 2024 and 2023, respectively.

 

Geographic Information

 

Net sales outside the of the United States represented less than 1% of total consolidated net sales for the six months and three months ended June 30, 2024 and 2023. Net sales are determined based on the destination where the products are shipped by Lifeway.

 

All the Company’s long-lived assets are in the United States.