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Note 11 - Segment Information | 9 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
11) | SEGMENT INFORMATION
FutureFuel has two reportable segments organized along similar product groups – chemicals and biofuels. The chief operating decision maker ("CODM”) is Roeland Polet, our chief executive officer. The CODM reviews the significant components for each of our segments. The CODM evaluates the performance of each reportable segment and decides how to allocate resources based on segment gross profit (loss), which includes the revenue and expenses that are directly attributable to management of each segment. The CODM uses segment gross profit (loss) to assess the income generated by each reportable segment and to decide which reportable segment to reinvest profits or pay dividends. Segment gross profit (loss) is also used to analyze performance against the budget and the Company’s competitors. Chemicals FutureFuel’s chemical segment manufactures diversified chemical products that are sold externally to third party customers. This segment is composed of two components: “custom manufacturing” (manufacturing chemicals for specific customers) and “performance chemicals” (multi-customer specialty chemicals). Biofuels FutureFuel’s biofuel segment primarily manufactures and markets biodiesel. Biodiesel revenues are generated through the sale of biodiesel to customers through FutureFuel’s distribution network at its Batesville Plant, through distribution facilities available at leased oil storage facilities, and through a network of remotely located tanks. Biofuel revenues also include the sale of biodiesel blends with petrodiesel; petrodiesel with no biodiesel added; internally generated, separated Renewable Identification Numbers (“RINs”); biodiesel production byproducts; and revenue and profits from Legacy Regional Transport. Biodiesel selling prices and profitability can at times fluctuate based on the timing of unsold, internally generated RINs. FutureFuel does not allocate production costs to internally generated RINs, and from time to time, can enter into sales of biodiesel on a “RINs-free” basis, resulting in FutureFuel maintaining possession of the applicable RINs from the sale. The benefit derived from the eventual sale of the RINs is not reflected in results of operations until such time as the RINs sale has been completed, which may lead to variability in reported operating results. As of September 30, 2025, FutureFuel held 0.4 million RINs with a fair market value of $361. Comparatively, at September 30, 2024, FutureFuel held 5.0 million RINs with a fair market value of $2,556 and at December 31, 2024, 3.1 million RINs were held with a fair market value of $1,831. The fair value of RINs is considered a Level 1 input and has no cost. Summary of business by segment
|  | Three months ended September 30, 2025 |  |  | Nine months ended September 30, 2025 |
|  | Chemical |  |  | Biofuel |  |  | Total |  |  | Chemical |  |  | Biofuel |  |  | Total |
Revenue |  | $ | 15,578 |  |  | $ | 7,111 |  |  | $ | 22,689 |  |  | $ | 41,562 |  |  | $ | 34,338 |  |  | $ | 75,900 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  |  | 19,699 |  |  |  | 9,250 |  |  |  | 28,949 |  |  |  | 49,212 |  |  |  | 55,061 |  |  |  | 104,273 |
Distribution |  |  | 291 |  |  |  | 280 |  |  |  | 571 |  |  |  | 825 |  |  |  | 963 |  |  |  | 1,788 |
Segment gross loss |  | $ | (4,412 | ) |  | $ | (2,419 | ) |  | $ | (6,831 | ) |  | $ | (8,475 | ) |  | $ | (21,686 | ) |  | $ | (30,161 | )
Reconciliation of Segment gross loss to Net loss before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general, and administrative expenses |  |  |  |  |  |  |  |  |  | $ | 2,049 |  |  |  |  |  |  |  |  |  |  | $ | 7,161 |
Research and development expenses |  |  |  |  |  |  |  |  |  |  | 855 |  |  |  |  |  |  |  |  |  |  |  | 3,179 |
Other income, net |  |  |  |  |  |  |  |  |  |  | (381 | ) |  |  |  |  |  |  |  |  |  |  | (3,129 | )
Net loss before income taxes |  |  |  |  |  |  |  |  |  | $ | (9,354 | ) |  |  |  |  |  |  |  |  |  | $ | (37,372 | )
|  | Three months ended September 30, 2024 |  |  | Nine months ended September 30, 2024 |
|  | Chemical |  |  | Biofuel |  |  | Total |  |  | Chemical |  |  | Biofuel |  |  | Total |
Revenue |  | $ | 17,928 |  |  | $ | 33,212 |  |  | $ | 51,140 |  |  | $ | 55,223 |  |  | $ | 126,607 |  |  | $ | 181,830 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  |  | 14,357 |  |  |  | 35,831 |  |  |  | 50,188 |  |  |  | 42,549 |  |  |  | 123,158 |  |  |  | 165,707 |
Distribution |  |  | 164 |  |  |  | 405 |  |  |  | 569 |  |  |  | 569 |  |  |  | 1,507 |  |  |  | 2,076 |
Segment gross profit (loss) |  | $ | 3,407 |  |  | $ | (3,024 | ) |  | $ | 383 |  |  | $ | 12,105 |  |  | $ | 1,942 |  |  | $ | 14,047 |
Reconciliation of Segment gross profit (loss) to Net (loss) income before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general, and administrative expenses |  |  |  |  |  |  |  |  |  | $ | 2,290 |  |  |  |  |  |  |  |  |  |  | $ | 6,483 |
Research and development expenses |  |  |  |  |  |  |  |  |  |  | 981 |  |  |  |  |  |  |  |  |  |  |  | 2,803 |
Other income, net |  |  |  |  |  |  |  |  |  |  | (1,690 | ) |  |  |  |  |  |  |  |  |  |  | (8,580 | )
Net (loss) income before income taxes |  |  |  |  |  |  |  |  |  | $ | (1,198 | ) |  |  |  |  |  |  |  |  |  | $ | 13,341 |
Depreciation is allocated to segment cost of goods sold based on plant usage. The total assets and capital expenditures of FutureFuel have not been allocated to individual segments as large portions of these assets are shared to varying degrees by each segment, causing such an allocation to be of little value.

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- Definition The entire disclosure for reporting segments including data and tables. 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