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Revenue
 9 Months Ended
Sep. 30, 2025
Revenue [Abstract]  
Revenue

Note 2 — Revenue

 

Revenue

 

The Company generates revenue from continuing operations from Non-licensing Revenue and Licensing Revenue.

 

For the three and nine months ended September 30, 2025, the Company generated revenue from continuing operations from non-hemp-derived product sales and sales-based Licensing Revenue. Non-licensing Revenue from hemp-derived product sales is recognized at a point-in-time when control transfers to the customer. Licensing Revenue is recognized over time as the underlying sales occur in accordance with the terms of the related party license agreements. For the three and nine months ended September 30, 2024, the Company had no revenue from continuing operations.

 

The following table provides the Company’s revenue from continuing operations disaggregated by revenue type:

 

   Three months ended
September 30,		   Nine months ended
September 30,		 
(In thousands)  2025   2024   2025   2024 
Non-licensing Revenue  $3,511   $
—
   $5,843   $
—
 
Licensing Revenue   532    
—
    780    
—
 
Total revenue  $4,043   $
—
   $6,623   $
—
 

 

In accordance with ASC 606-10-50-13, the Company is required to include disclosure on its remaining performance obligations as of the end of the current reporting period. Due to the nature of the Company’s contracts, these reporting requirements are not applicable because the majority of the Company’s remaining contracts meet certain exemptions as defined in ASC 606-10-50-14 through 606-10-50-14A, including (i) performance obligation is part of a contract that has an original expected duration of one year or less and (ii) the right to invoice practical expedient.