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SEGMENT INFORMATION | 6 Months Ended
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Feb. 29, 2024
SEGMENT INFORMATION |
SEGMENT INFORMATION | NOTE 11 – SEGMENT INFORMATION The Company reports two operating segments which meet segment disclosure requirements, the water and wastewater resource development segment and the land development segment. The single-family rentals, although not currently material to operations and not a required segment disclosure, is presented within the operating segment information below for informational purposes. The water and wastewater resource development segment includes providing water and wastewater services to customers, which water is provided by the Company using water rights owned or controlled by the Company, and developing, operating, and maintaining infrastructure to divert, treat and distribute that water and collect, treat and reuse reclaimed wastewater. The land development segment includes all activities necessary to develop and sell finished lots, which for the three and six months ended February 29, 2024 and February 28, 2023, was done exclusively at the Company’s Sky Ranch Master Planned Community. The single-family rental business includes the monthly rental fees received from the renters under the non-cancellable annual leases. The tables below present the measure of profit and assets used to assess the performance of the two required segments and the single-family rentals that the Company believes will become a segment for the periods presented: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended February 29, 2024
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue |  | $ | 1,816 |  | $ | 1,256 | ​ | $ | 125 |  | $ | 3,197
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 778 | ​ |  | 249 | ​ |  | 33 | ​ |  | 1,060
Depreciation and depletion | ​ |  | 360 | ​ |  | — | ​ |  | — | ​ |  | 360
Total cost of revenue | ​ |  | 1,138 | ​ |  | 249 | ​ |  | 33 | ​ |  | 1,420
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment profit | ​ | $ | 678 | ​ | $ | 1,007 | ​ | $ | 92 | ​ | $ | 1,777
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended February 28, 2023
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue | ​ | $ | 1,454 | ​ | $ | 1,514 | ​ | $ | 31 | ​ | $ | 2,999
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 659 | ​ |  | 271 | ​ |  | 19 | ​ |  | 949
Depreciation and depletion | ​ |  | 461 | ​ |  | — | ​ |  | — | ​ |  | 461
Total cost of revenue | ​ |  | 1,120 | ​ |  | 271 | ​ |  | 19 | ​ |  | 1,410
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment profit | ​ | $ | 334 | ​ | $ | 1,243 | ​ | $ | 12 | ​ | $ | 1,589
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended February 29, 2024
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue |  | $ | 5,097 |  | $ | 3,252 | ​ | $ | 234 |  | $ | 8,583
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 1,636 | ​ |  | 1,016 | ​ |  | 90 | ​ |  | 2,742
Depreciation and depletion | ​ |  | 722 | ​ |  | — | ​ |  | — | ​ |  | 722
Total cost of revenue | ​ |  | 2,358 | ​ |  | 1,016 | ​ |  | 90 | ​ |  | 3,464
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment (loss) profit | ​ | $ | 2,739 | ​ | $ | 2,236 | ​ | $ | 144 | ​ | $ | 5,119
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended February 28, 2023
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue | ​ | $ | 2,248 | ​ | $ | 2,035 | ​ | $ | 56 | ​ | $ | 4,339
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 1,382 | ​ |  | 486 | ​ |  | 29 | ​ |  | 1,897
Depreciation and depletion | ​ |  | 839 | ​ |  | — | ​ |  | — | ​ |  | 839
Total cost of revenue | ​ |  | 2,221 | ​ |  | 486 | ​ |  | 29 | ​ |  | 2,736
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment profit | ​ | $ | 27 | ​ | $ | 1,549 | ​ | $ | 27 | ​ | $ | 1,603
​ The following table summarizes the Company’s total assets by segment. The assets consist of water rights and water and wastewater systems in the Company’s water and wastewater resource development segment; land, land development costs and deposits in the Company’s land development segment; and the cost of the homes in the single-family rental line. The Company’s other assets (Corporate) primarily consist of cash, short term investments, restricted cash, equipment, and related party notes receivable. Related party notes receivable were not previously presented as Corporate assets and the totals listed as of August 31, 2023 have been updated to reflect the Company’s new presentation. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | February 29, 2024 |  | August 31, 2023
Water and wastewater resource development | ​ | $ | 64,168 | ​ | $ | 63,129
Land development | ​ | ​ | 10,520 | ​ | ​ | 7,710
Single-family rental | ​ | ​ | 5,224 | ​ | ​ | 5,128
Corporate | ​ | ​ | 55,314 | ​ | ​ | 57,249
Total assets | ​ | $ | 135,226 | ​ | $ | 133,216
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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