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Note 3 - Reportable Segments
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 3 – REPORTABLE SEGMENTS

 

We evaluate our performance based on segment operating (loss). Interest expense, income tax expense and losses related to equity method investments are excluded from the computation of operating (loss) for the segments. Segment net revenue, segment operating expenses and segment operating (loss) information consisted of the following for the years ended December 31, 2024 and 2023:

 

 

  

Twelve Months Ended December 31, 2024

 

(in thousands)

 

 

Land and

Water

Resources

  

Water

Filtration

Technology

  

Total

 
             

Revenues

 $1,708  $7,900  $9,608 
             

Costs and expenses:

            

Cost of sales

  2,984   4,314   7,298 

General and administrative

  22,525   1,820   24,345 

Depreciation

  1,159   55   1,214 
             

Total costs and expenses

  26,668   6,189   32,857 
             

Operating income (loss)

 $(24,960) $1,711  $(23,249)

 

 

  

Twelve Months Ended December 31, 2023

 

(in thousands)

 

 

Land and

Water

Resources

  

Water

Filtration

Technology

  

Total

 
             

Revenues

 $1,251  $740  $1,991 
             

Costs and expenses:

            
             

Cost of sales

  2,241   646   2,887 

General and administrative

  18,042   755   18,797 

Depreciation

  1,096   151   1,247 
             

Total costs and expenses

  21,379   1,552   22,931 
             

Operating income (loss)

 $(20,128) $(812) $(20,940)

 

Assets by operating segment, inclusive of goodwill, are as follows (dollars in thousands):

 

  

December 31,

2024

  

December 31,

2023

 

Operating Segment:

        

Water and Land Resources

 $123,786  $101,946 

Water Filtration Technology

  10,708   5,428 
  $134,494  $107,374 

 

Goodwill by operating segment is as follows (dollars in thousands):

 

  

December 31,

2024

  

December 31,

2023

 

Operating Segment:

        

Water and Land Resources

 $3,813  $3,813 

Water Filtration Technology

  1,901   1,901 
  $5,714  $5,714 

 

Property, plant, equipment and water programs consist of the following (dollars in thousands):

 

  

December 31, 2024

 
  

Water and Land

Resources

  

Water Filtration

Technology

 
         

Land and land improvements

 $33,069  $- 

Water programs

  29,383   - 

Pipeline

  22,100   - 

Buildings

  1,805   - 

Leasehold improvements, furniture and fixtures

  1,605   4 

Machinery and equipment

  3,870   247 

Construction in progress

  6,851   6 
   98,683   257 

Less accumulated depreciation

  (10,397)  (181)
  $88,286  $76 

 

  

December 31, 2023

 
  

Water and Land

Resources

  

Water Filtration

Technology

 
         

Land and land improvements

 $32,357  $- 

Water programs

  29,209   - 

Pipeline

  22,096   - 

Buildings

  1,730   - 

Leasehold improvements, furniture and fixtures

  1,605   4 

Machinery and equipment

  3,719   210 

Construction in progress

  5,664   - 
   96,380   214 

Less accumulated depreciation

  (9,238)  (139)
  $87,142  $75