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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

15. 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 income (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 income (loss) (from continuing operations) as reported on the consolidated statements of operations and comprehensive income (loss). The CODM considers budget-to-actual variances on a monthly basis for net income (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 during the three months ended March 31, 2025 and 2024, are as follows (in thousands):

 

Three Months Ended March 31,

 

 

2025

 

 

2024

 

Total revenues

$

1,200

 

 

$

987

 

Product COGS

 

(569

)

 

 

(316

)

Other Adjustments

 

(113

)

 

 

(155

)

Human capital & technology

 

(464

)

 

 

(955

)

Corporate expenses

 

(402

)

 

 

(304

)

Advertising & marketing

 

(11

)

 

 

(8

)

Outside services

 

(589

)

 

 

(700

)

Depreciation

 

(13

)

 

 

(51

)

Other SG&A

 

(259

)

 

 

(45

)

Interest income

 

207

 

 

 

45

 

Change in fair value of common stock warrant and option liabilities

 

1,862

 

 

 

593

 

Other segment items

 

1,750

 

 

 

(39

)

Net income (loss) from continuing operations

$

2,599

 

 

$

(947

)

Other segment items consist of research and development expenses, gain on sale of intangible assets, change in fair value of contingent consideration, impairment of property and equipment, and other income.