XML 30 R20.htm IDEA: XBRL DOCUMENT v3.25.3

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

6 Months Ended

Oct. 31, 2025

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

(13)         INFORMATION ABOUT THE COMPANY’S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

Refer to Note 15 to the consolidated financial statements contained in the 2025 Form 10-K for detail regarding the Company’s operations in different industry segments. With respect to the tables below, (1) revenue information provided for the land development segment includes certain amounts classified as home sale revenues in the accompanying condensed consolidated statements of operations, (2) general and administrative expenses primarily relate to payroll, employee benefits and professional expenses and (3) segment assets exclude corporate assets, such as cash and cash equivalents, corporate facilities and tax assets.

Three months ended October 31, 2025. The following table sets forth summarized data for the industry segments in which the Company operated for the three months ended October 31, 2025 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​		​			​	​		​	​
For the Three Months Ended	​	Land		​	​		​	​
October 31, 2025		Development			Homebuilding			Consolidated
Revenues	​	$	2,204	​	$	6,346	​	$	8,550
Other Revenues	​	​	826	​	​	22	​	​	848
Segment Revenues	​	​	3,030	​	​	6,368	​	​	9,398
Cost of Revenues	​	​	1,221	​	​	4,778	​	​	5,999
Other Cost of Revenues	​	​	324	​	​	—	​	​	324
General and administrative expenses	​	​	1,042	​	​	479	​	​	1,521
Segment profit (loss)	​	​	443	​	​	1,111	​	​	1,554
Interest income, net	​	​	​	​	​	​	​	​	459
Other income	​	​	​	​	​	​	​	​	—
Unallocated amounts:	​	​	​	​	​	​	​	​	​
Other corporate general and administrative expenses	​	​	​	​	​	​	​	​	(435)
Income before income taxes	​	​	​	​	​	​	​	$	1,578
Depreciation and amortization	​	$	77	​	$	4	​	​	​
Capital expenditures	​	$	(3)	​	$	63	​	​	​

​

Three months ended October 31, 2024. The following table sets forth summarized data for the industry segments in which the Company operated for the three months ended October 31, 2024 (in thousands):

​	​	​	​	​	​	​	​	​	​
For the Three Months Ended	​	Land		​	​	​	​	​	​
October 31, 2024		Development			Homebuilding			Consolidated
Revenues	​	$	6,955	​	$	4,236	​	$	11,191
Other Revenues	​	​	714	​	​	1	​	​	715
Segment Revenues	​	​	7,669	​	​	4,237	​	​	11,906
Cost of Revenues	​	​	3,575	​	​	3,028	​	​	6,603
Other Cost of Revenues	​	​	334	​	​	—	​	​	334
General and administrative expenses	​	​	987	​	​	417	​	​	1,404
Segment profit (loss)	​	​	2,773	​	​	792	​	​	3,565
Interest income, net	​	​	​	​	​	​	​	​	576
Other income	​	​	​	​	​	​	​	​	—
Unallocated amounts:	​	​	​	​	​	​	​	​	​
Other corporate general and administrative expenses	​	​	​	​	​	​	​	​	(421)
Income before income taxes	​	​	​	​	​	​	​	$	3,720
Depreciation and amortization	​	$	45	​	$	2	​	​	​
Capital expenditures	​	$	86	​	$	1	​	​	​

​

Six months ended October 31, 2025. The following table sets forth summarized data for the industry segments in which the Company operated for the six months ended October 31, 2025 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
For the Six Months Ended		Land		​	​	​	​	​	​
October 31, 2025		Development			Homebuilding			Consolidated
Revenues	​	$	11,049	​	$	14,566	​	$	25,615
Other Revenues	​	​	1,592	​	​	43	​	​	1,635
Segment Revenues	​	​	12,641	​	​	14,609	​	​	27,250
Cost of Revenues		​	4,803		​	10,730		​	15,533
Other Cost of Revenues		​	648		​	—		​	648
General and administrative expenses		​	2,030		​	926		​	2,956
Segment profit (loss)		​	5,160		​	2,953		​	8,113
Interest income, net		​	​		​			​	915
Other income		​	​		​			​	—
Unallocated amounts:		​			​			​
Other corporate general and administrative expenses		​	​		​			​	(848)
Income before income taxes	​	​	​		​			$	8,180
Depreciation and amortization	​	$	145	​	$	14		​
Capital expenditures	​	$	—	​	$	80		​
Segment assets as of October 31, 2025	​	$	115,465	​	$	23,450		​

Six months ended October 31, 2024. The following table sets forth summarized data for the industry segments in which the Company operated for the six months ended October 31, 2024 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
For the Six Months Ended	​	Land		​	​	​	​	​	​
October 31, 2024		Development			Homebuilding			Consolidated
Revenues	​	$	17,622	​	$	11,910	​	$	29,532
Other Revenues		​	1,455		​	5		​	1,460
Segment Revenues		​	19,077		​	11,915		​	30,992
Cost of Revenues		​	9,729		​	9,028		​	18,757
Other Cost of Revenues		​	648		​	—		​	648
General and administrative expenses		​	1,895		​	807		​	2,702
Segment profit (loss)		​	6,805		​	2,080		​	8,885
Interest income, net		​	​		​			​	857
Other income		​	​		​			​	—
Unallocated amounts:		​			​			​
Other corporate general and administrative expenses		​	​		​			​	(749)
Income before income taxes	​	​	​		​			$	8,993
Depreciation and amortization	​	$	91	​	$	5		​
Capital expenditures	​	$	110	​	$	10		​
Segment assets as of October 31, 2024	​	$	102,749	​	$	14,790		​

​

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: 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 3: 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

Reference 4: 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 5: 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 6: 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 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 8: 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 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-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 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 18: 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 19: 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 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 22: 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 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 24: 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 25: 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

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration