XML 30 R23.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Reporting
 9 Months Ended
Sep. 30, 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 condensed consolidated balance sheets.

Information about the Company’s segment operations are as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Total revenues

 

$

1,302

 

 

$

1,537

 

 

$

3,957

 

 

$

3,829

 

Product COGS

 

 

(817

)

 

 

(917

)

 

 

(2,191

)

 

 

(1,807

)

Other Adjustments

 

 

(67

)

 

 

(115

)

 

 

(198

)

 

 

(329

)

Human capital & technology

 

 

(454

)

 

 

(1,133

)

 

 

(1,470

)

 

 

(3,126

)

Corporate expenses

 

 

(363

)

 

 

(320

)

 

 

(1,170

)

 

 

(942

)

Advertising & marketing

 

 

12

 

 

 

(18

)

 

 

(13

)

 

 

(36

)

Outside services

 

 

(477

)

 

 

(452

)

 

 

(1,972

)

 

 

(2,151

)

Depreciation

 

 

(2

)

 

 

(7

)

 

 

(30

)

 

 

(92

)

Other SG&A

 

 

(286

)

 

 

(311

)

 

 

(779

)

 

 

(639

)

Interest income

 

 

7

 

 

 

233

 

 

 

222

 

 

 

428

 

Credit loss

 

 

(257

)

 

 

—

 

 

 

(4,745

)

 

 

—

 

Change in fair value of common stock warrant and option liabilities

 

 

560

 

 

 

330

 

 

 

1,875

 

 

 

493

 

Other segment items

 

 

1,698

 

 

 

(9

)

 

 

5,511

 

 

 

4,092

 

Net income (loss) from continuing operations

 

$

856

 

 

$

(1,182

)

 

$

(1,003

)

 

$

(280

)

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