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v3.25.2

Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Jun. 30, 2025
Accounting Policies [Abstract] |
Schedule of Disaggregation of Revenue |
(in thousands) | Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue recognized at a point-in-time | $ | 7,798 |  |  | $ | 12,291 |  |  | $ | 40,496 |  |  | $ | 42,250 |
Revenue recognized over time | 592 |  |  | 1,319 |  |  | 2,768 |  |  | 3,458 |
Total | $ | 8,390 |  |  | $ | 13,610 |  |  | $ | 43,264 |  |  | $ | 45,708 |
Revenues disaggregated by significant products and services for the three and nine months ended June 30, 2025 and 2024 are as follows:
(in thousands) | Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Alico Citrus |  |  |  |  |  |  |
Early and Mid-Season | $ | — |  |  | $ | — |  |  | $ | 15,577 |  |  | $ | 14,534 |
Valencias | 7,795 |  |  | 12,183 |  |  | 24,088 |  |  | 26,915 |
Fresh Fruit and Other | 3 |  |  | 108 |  |  | 831 |  |  | 801 |
Grove Management Services | 7 |  |  | 946 |  |  | 888 |  |  | 2,341 |
Total | $ | 7,805 |  |  | $ | 13,237 |  |  | $ | 41,384 |  |  | $ | 44,591 |
Land Management and Other Operations |  |  |  |  |  |  |
Land and Other Leasing | $ | 496 |  |  | $ | 302 |  |  | $ | 1,649 |  |  | $ | 894 |
Other | 89 |  |  | 71 |  |  | 231 |  |  | 223 |
Total | $ | 585 |  |  | $ | 373 |  |  | $ | 1,880 |  |  | $ | 1,117 |
Total Revenues | $ | 8,390 |  |  | $ | 13,610 |  |  | $ | 43,264 |  |  | $ | 45,708 |
Schedule of Revenues Disaggregated by Significant Products and Services |
(in thousands) | Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue recognized at a point-in-time | $ | 7,798 |  |  | $ | 12,291 |  |  | $ | 40,496 |  |  | $ | 42,250 |
Revenue recognized over time | 592 |  |  | 1,319 |  |  | 2,768 |  |  | 3,458 |
Total | $ | 8,390 |  |  | $ | 13,610 |  |  | $ | 43,264 |  |  | $ | 45,708 |
Revenues disaggregated by significant products and services for the three and nine months ended June 30, 2025 and 2024 are as follows:
(in thousands) | Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Alico Citrus |  |  |  |  |  |  |
Early and Mid-Season | $ | — |  |  | $ | — |  |  | $ | 15,577 |  |  | $ | 14,534 |
Valencias | 7,795 |  |  | 12,183 |  |  | 24,088 |  |  | 26,915 |
Fresh Fruit and Other | 3 |  |  | 108 |  |  | 831 |  |  | 801 |
Grove Management Services | 7 |  |  | 946 |  |  | 888 |  |  | 2,341 |
Total | $ | 7,805 |  |  | $ | 13,237 |  |  | $ | 41,384 |  |  | $ | 44,591 |
Land Management and Other Operations |  |  |  |  |  |  |
Land and Other Leasing | $ | 496 |  |  | $ | 302 |  |  | $ | 1,649 |  |  | $ | 894 |
Other | 89 |  |  | 71 |  |  | 231 |  |  | 223 |
Total | $ | 585 |  |  | $ | 373 |  |  | $ | 1,880 |  |  | $ | 1,117 |
Total Revenues | $ | 8,390 |  |  | $ | 13,610 |  |  | $ | 43,264 |  |  | $ | 45,708 |
Schedule of Restricted Cash | Restricted Cash
(in thousands) | June 30, 2025 |  | September 30, 2024
Cash and cash equivalents | $ | 42,073 |  |  | $ | 3,150 |
Restricted cash (a) | 762 |  |  | 248 |
Cash and cash equivalents and restricted cash | $ | 42,835 |  |  | $ | 3,398 |
a. Restricted cash represents Cash-Secured Irrevocable Standby Letters of Credit of $762 to secure certain contractual obligations at June 30, 2025 and Cash-Secured Irrevocable Standby Letters of Credit of $248 to secure certain contractual obligations at September 30, 2024.
Schedule of Restricted Cash | Restricted Cash
(in thousands) | June 30, 2025 |  | September 30, 2024
Cash and cash equivalents | $ | 42,073 |  |  | $ | 3,150 |
Restricted cash (a) | 762 |  |  | 248 |
Cash and cash equivalents and restricted cash | $ | 42,835 |  |  | $ | 3,398 |
a. Restricted cash represents Cash-Secured Irrevocable Standby Letters of Credit of $762 to secure certain contractual obligations at June 30, 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) | June 30, 2025 |  | September 30, 2024
Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Corporate debt |  |  |  |  |  |  |
Current portion of long-term debt | $ | 1,410 |  |  | $ | 1,413 |  |  | $ | 1,410 |  |  | $ | 1,420 |
Long-term debt | $ | 84,190 |  |  | $ | 80,225 |  |  | $ | 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 nine months ended June 30, 2025 and 2024:
(in thousands) | Three Months Ended June 30, |  | Nine Months Ended June 30,
2025 |  | 2024 |  | 2025 |  | 2024
Weighted Average Common Shares Outstanding – Basic | 7,641 |  |  | 7,624 |  |  | 7,637 |  |  | 7,620 |
Effect of dilutive securities – stock options and unrestricted stock | — |  |  | — |  |  | — |  |  | — |
Weighted Average Common Shares Outstanding – Diluted | 7,641 |  |  | 7,624 |  |  | 7,637 |  |  | 7,620 |
Schedule of Revenue by Major Customers by Reporting Segments | Accounts receivable from the Company’s major customer as of June 30, 2025 and September 30, 2024, and revenue from such customer for the nine months ended June 30, 2025 and 2024, are as follows:
(in thousands) | Accounts Receivable |  | Revenue |  | % of Total Revenue
June 30, |  | September 30, |  | Nine Months Ended June 30, |  | Nine Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Tropicana | $ | — |  |  | $ | — |  |  | $ | 38,434 |  |  | $ | 40,456 |  |  | 88.8 | % |  | 88.5 | %

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