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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting

Note 19. Segment Reporting

The Company has one operating and reportable segment, which derives revenue primarily from the sale of Zola coconut water. The Company's Chief Executive Officer is the Company’s chief operating decision maker ("CODM"). The CODM uses net loss for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM evaluates segment business performance based primarily on consolidated net loss (from continuing operations) as reported on the consolidated statements of operations and comprehensive loss. The CODM considers budget-to-actual variances on a monthly basis for net loss when making decisions. Segment assets provided to the CODM are consistent with those reported on the consolidated balance sheets.

Information about the Company’s segment operations as of and for the years ended December 31, 2024 and 2023, are as follows (in thousands):

 

 

Year Ended December 31,

 

 

2024

 

2023

 

Total revenues

$

5,045

 

$

4,454

 

Product COGS

 

(2,484

)

 

(2,023

)

Other Adjustments

 

(479

)

 

(151

)

Human capital & technology

 

(4,222

)

 

(3,598

)

Corporate expenses

 

(1,323

)

 

(1,568

)

Advertising & marketing

 

(51

)

 

(195

)

Outside services

 

(3,133

)

 

(2,094

)

Depreciation

 

(113

)

 

(287

)

Other SG&A

 

(799

)

 

(492

)

Interest income

 

782

 

 

695

 

Income tax expense

 

(8

)

 

(8

)

Change in fair value of common stock warrant and option liabilities

 

(1,474

)

 

6,544

 

Other segment items

 

3,942

 

 

(6,606

)

Net loss from continuing operations

$

(4,317

)

$

(5,329

)

 

Other segment items consist of research and development expenses, gain on sale of intangible assets, gain on sale of property and equipment, impairment of property and equipment, impairment of ROU asset, other income, valuation loss on March 2023 PIPE and issuance and offering costs allocated to liability classified options.

Geographic Data

Revenues based on the location of the customers, are as follows (in thousands):

 

 

Year Ended December 31,

 

 

2024

 

2023

 

United States

$

4,903

 

$

4,156

 

Argentina

$

26

 

 

—

 

India

 

7

 

 

7

 

Canada

 

109

 

 

291

 

Total

$

5,045

 

$

4,454