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Segments (Tables)

6 Months Ended

Jun. 30, 2025

Segments [Abstract]

Schedule of Set Forth Certain Financial Data for the Company’s Operating Segments

The following tables set forth certain financial data for the Company’s operating segments (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Net Sales
Pekin Campus production, recorded as gross:
Alcohol sales		$	94,155			$	100,687			$	201,390			$	209,035
Essential ingredient sales			39,565				39,371				84,183				86,080
Intersegment sales			183				286				481				606
Total Pekin Campus sales			133,903				140,344				286,054				295,721
Marketing and distribution:
Alcohol sales, gross		$	58,106			$	70,157			$	107,101			$	124,587
Alcohol sales, net			80				64				142				98
Intersegment sales			2,334				2,388				4,840				5,140
Total marketing and distribution sales			60,520				72,609				112,083				129,825
Western production, recorded as gross:
Alcohol sales		$	16,604			$	17,456			$	32,798			$	37,690
Essential ingredient sales			8,250				5,950				16,058				13,776
Intersegment sales			505				—				769				(130	)
Total Western production sales			25,359				23,406				49,625				51,336
Corporate and other			1,676				2,783				3,304				5,831
Intersegment eliminations			(3,022	)			(2,674	)			(6,090	)			(5,616	)
Net sales as reported		$	218,436			$	236,468			$	444,976			$	477,097
Cost of goods sold:
Pekin Campus production		$	139,748			$	130,200			$	294,974			$	281,311
Marketing and distribution			56,518				69,437				104,167				123,123
Western production			23,501				27,167				49,024				63,683
Corporate and other			1,705				2,943				3,386				5,738
Intersegment eliminations			(1,099	)			(832	)			(2,831	)			(1,911	)
Cost of goods sold as reported		$	220,373			$	228,915			$	448,720			$	471,944
Gross profit (loss):
Pekin Campus production		$	(5,845	)		$	10,144			$	(8,920	)		$	14,410
Marketing and distribution			4,002				3,172				7,916				6,702
Western production			1,858				(3,761	)			601				(12,347	)
Corporate and other			(29	)			(160	)			(82	)			93
Intersegment eliminations			(1,923	)			(1,842	)			(3,259	)			(3,705	)
Gross profit (loss) as reported		$	(1,937	)		$	7,553			$	(3,744	)		$	5,153
Income (loss) before provision for income taxes:
Pekin Campus production		$	(9,923	)		$	5,971			$	(17,291	)		$	6,087
Marketing and distribution			1,795				806				3,359				2,108
Western production			(1,453	)			(5,977	)			(5,356	)			(16,954	)
Corporate and other			(1,416	)			(3,906	)			(3,388	)			(6,072	)
		$	(10,997	)		$	(3,106	)		$	(22,676	)		$	(14,831	)
Depreciation and amortization expense:
Pekin Campus production		$	5,348			$	5,369			$	10,804			$	10,404
Western production			843				478				1,483				943
Corporate and other			172				228				344				455
		$	6,363			$	6,075			$	12,631			$	11,802
Interest expense, net of capitalized interest:
Pekin Campus production		$	615			$	326			$	1,226			$	587
Marketing and distribution			81				98				163				193
Western production			1,430				598				2,789				1,229
Corporate and other			685				647				1,362				1,294
		$	2,811			$	1,669			$	5,540			$	3,303

Schedule of Total Assets by Operating Segment

The following table sets forth the Company’s total assets by operating segment (in thousands): 

		June 30, 2025				December 31, 2024
Total assets:
Pekin Campus production		$	212,735			$	223,934
Marketing and distribution			118,773				102,895
Western production			43,603				44,992
Corporate and other			17,954				29,617
		$	393,065			$	401,438

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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