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v3.25.1

Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Mar. 31, 2025
Accounting Policies [Abstract] |
Schedule of disaggregation of revenue |
(in thousands) | Three Months Ended March 31, |  | Six Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue recognized at a point-in-time | $ | 17,143 |  |  | $ | 16,974 |  |  | $ | 32,698 |  |  | $ | 29,959 |
Revenue recognized over time | 837 |  |  | 1,139 |  |  | 2,176 |  |  | 2,139 |
Total | $ | 17,980 |  |  | $ | 18,113 |  |  | $ | 34,874 |  |  | $ | 32,098 |
Revenues disaggregated by significant products and services for the three and six months ended March 31, 2025 and 2024 are as follows:
(in thousands) | Three Months Ended March 31, |  | Six Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Alico Citrus |  |  |  |  |  |  |
Early and Mid-Season | $ | 648 |  |  | $ | 2,139 |  |  | $ | 15,577 |  |  | $ | 14,534 |
Valencias | 16,293 |  |  | 14,732 |  |  | 16,293 |  |  | 14,732 |
Fresh Fruit and Other | 202 |  |  | 103 |  |  | 828 |  |  | 693 |
Grove Management Services | 110 |  |  | 788 |  |  | 881 |  |  | 1,395 |
Total | $ | 17,253 |  |  | $ | 17,762 |  |  | $ | 33,579 |  |  | $ | 31,354 |
Land Management and Other Operations |  |  |  |  |  |  |
Land and Other Leasing | $ | 674 |  |  | $ | 278 |  |  | $ | 1,153 |  |  | $ | 592 |
Other | 53 |  |  | 73 |  |  | 142 |  |  | 152 |
Total | $ | 727 |  |  | $ | 351 |  |  | $ | 1,295 |  |  | $ | 744 |
Total Revenues | $ | 17,980 |  |  | $ | 18,113 |  |  | $ | 34,874 |  |  | $ | 32,098 |
Schedule of Cash and Cash Equivalents | Restricted Cash
(in thousands) | March 31, 2025 |  | September 30, 2024
Cash and cash equivalents | $ | 14,659 |  |  | $ | 3,150 |
Restricted cash (a) | 762 |  |  | 248 |
Cash and cash equivalents and restricted cash | $ | 15,421 |  |  | $ | 3,398 |
a. Restricted cash represents Cash-Secured Irrevocable Standby Letters of Credit of $762 to secure certain contractual obligations at March 31, 2025 and Cash-Secured Irrevocable Standby Letters of Credit of $248 to secure certain contractual obligations at September 30, 2024.
Restrictions on Cash and Cash Equivalents | Restricted Cash
(in thousands) | March 31, 2025 |  | September 30, 2024
Cash and cash equivalents | $ | 14,659 |  |  | $ | 3,150 |
Restricted cash (a) | 762 |  |  | 248 |
Cash and cash equivalents and restricted cash | $ | 15,421 |  |  | $ | 3,398 |
a. Restricted cash represents Cash-Secured Irrevocable Standby Letters of Credit of $762 to secure certain contractual obligations at March 31, 2025 and Cash-Secured Irrevocable Standby Letters of Credit of $248 to secure certain contractual obligations at September 30, 2024.
Schedule of Short-Term Debt | The carrying amounts and estimated fair values (Level 2) of debt instruments are as follows:
(in thousands) | March 31, 2025 |  | September 30, 2024
Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Corporate debt |  |  |  |  |  |  |
Current portion of long-term debt | $ | 1,410 |  |  | $ | 1,403 |  |  | $ | 1,410 |  |  | $ | 1,420 |
Long-term debt | $ | 88,536 |  |  | $ | 83,713 |  |  | $ | 91,141 |  |  | $ | 86,987 |
Schedule of Weighted Average Number of Shares | The following table presents a reconciliation of basic to diluted weighted average common shares outstanding for the three and six months ended March 31, 2025 and 2024:
(in thousands) | Three Months Ended March 31, |  | Six Months Ended March 31,
2025 |  | 2024 |  | 2025 |  | 2024
Weighted Average Common Shares Outstanding – Basic | 7,637 |  |  | 7,620 |  |  | 7,635 |  |  | 7,618 |
Effect of dilutive securities – stock options and unrestricted stock | — |  |  | — |  |  | — |  |  | — |
Weighted Average Common Shares Outstanding – Diluted | 7,637 |  |  | 7,620 |  |  | 7,635 |  |  | 7,618 |
Schedule of Revenue by Major Customers by Reporting Segments | Accounts receivable from the Company’s major customer as of March 31, 2025 and September 30, 2024, and revenue from such customer for the six months ended March 31, 2025 and 2024, are as follows:
(in thousands) | Accounts Receivable |  | Revenue |  | % of Total Revenue
March 31, |  | September 30, |  | Six Months Ended March 31, |  | Six Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Tropicana | $ | 8,263 |  |  | $ | — |  |  | $ | 31,263 |  |  | $ | 28,857 |  |  | 89.6 | % |  | 89.9 | %

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