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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Sep. 30, 2024
Accounting Policies [Abstract] |
Schedule of disaggregation of revenue |
(in thousands) | September 30,
2024 |  | 2023
Revenue recognized at a point-in-time | $ | 42,233 |  |  | $ | 36,911 |
Revenue recognized over time | 4,410 |  |  | 2,935 |
Total | $ | 46,643 |  |  | $ | 39,846 |
Revenues disaggregated by significant products and services for the years ended September 30, 2024 and 2023 are as follows:
(in thousands) | Years Ended September 30,
2024 |  | 2023 |  |
Alico Citrus |  |  |  |  |
Early and Mid-Season | $ | 14,534 |  |  | $ | 11,954 |  |  |
Valencias | 26,925 |  |  | 23,906 |  |  |
Fresh Fruit and Other | 774 |  |  | 1,051 |  |  |
Grove Management Services | 2,826 |  |  | 1,234 |  |  |
Total | $ | 45,059 |  |  | $ | 38,145 |  |  |
Land Management and Other Operations |  |  |  |  |
Land and Other Leasing | $ | 1,284 |  |  | $ | 1,327 |  |  |
Other | 300 |  |  | 374 |  |  |
Total | $ | 1,584 |  |  | $ | 1,701 |  |  |
Total Revenues | $ | 46,643 |  |  | $ | 39,846 |  |  |
Schedule of short-term debt | The carrying amounts and estimated fair values (Level 2) of debt instruments (see Note 7. Long-Term Debt and Lines of Credit for further information) are as follows:
(in thousands) | September 30, 2024 |  | September 30, 2023
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Debt |  |  |  |  |  |  |
Current long-term debt | $ | 1,410 |  |  | $ | 1,420 |  |  | $ | 2,566 |  |  | $ | 2,325 |
Long-term debt and lines of credit | $ | 91,141 |  |  | $ | 86,987 |  |  | $ | 126,753 |  |  | $ | 115,851 |
Restrictions on cash and cash equivalents |
(in thousands) | September 30,
2024 |  | 2023
Cash and cash equivalents | $ | 3,150 |  |  | $ | 1,062 |
Restricted cash | 248 |  |  | 2,630 |
Cash and cash equivalents and restricted cash | $ | 3,398 |  |  | $ | 3,692 |
Schedule of cash and cash equivalents |
(in thousands) | September 30,
2024 |  | 2023
Cash and cash equivalents | $ | 3,150 |  |  | $ | 1,062 |
Restricted cash | 248 |  |  | 2,630 |
Cash and cash equivalents and restricted cash | $ | 3,398 |  |  | $ | 3,692 |
Schedule of accounts receivable, net | The following table presents accounts receivable, net, as of September 30, 2024 and 2023:
(in thousands) | September 30,
2024 |  | 2023
Accounts receivable | $ | 844 |  |  | $ | 726 |
Allowance for credit losses | (73) |  |  | (14) |
Accounts receivable, net | $ | 771 |  |  | $ | 712 |
Schedule of revenues and accounts receivable from major customers | Accounts receivable from the Company’s major customer as of September 30, 2024 and 2023, and revenue from such customer for the years ended September 30, 2024 and 2023, which is included in the Alico Citrus segment, are as follows:
(in thousands) | Accounts Receivable |  | Revenue |  | % of Total Revenue
2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Tropicana | $ | — |  |  | $ | — |  |  | $ | 40,466 |  |  | $ | 32,403 |  |  |  |  | 86.8 | % |  | 81.3 | % |  |
Schedule of estimated useful lives for property and equipment | The estimated useful lives for property and equipment are primarily as follows:
Citrus trees | 25 years
Equipment and other facilities | 3-20 years
Buildings and improvements | 15-39 years
Schedule of reconciliation of basic to diluted weighted average shares outstanding | The following table presents a reconciliation of basic to diluted weighted average common shares outstanding for the years ended September 30, 2024 and 2023:
(in thousands) | Years Ended September 30,
2024 |  | 2023 |  |
Weighted Average Common Shares Outstanding – Basic | 7,622 |  | 7,602 |  |
Effect of dilutive securities – stock options and unrestricted stock | — |  | — |  |
Weighted Average Common Shares Outstanding – Diluted | 7,622 |  | 7,602 |  |

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