| Segment Reporting |
The tables below present the measure of profit and assets the CODM uses to assess the performance of the segment for the periods presented:
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Year Ended August 31, 2022 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
10,051 |
|
$ |
12,870 |
|
$ |
82 |
|
$ |
23,003 |
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|
|
|
|
|
|
Cost of revenue |
|
|
2,700 |
|
|
2,166 |
|
|
23 |
|
|
4,889 |
Depreciation and depletion |
|
|
1,740 |
|
|
— |
|
|
— |
|
|
1,740 |
Total cost of revenue |
|
|
4,440 |
|
|
2,166 |
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|
23 |
|
|
6,629 |
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|
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|
|
|
|
|
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Segment profit |
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$ |
5,611 |
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$ |
10,704 |
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$ |
59 |
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$ |
16,374 |
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Year Ended August 31, 2021 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
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Total |
Total revenue |
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$ |
9,656 |
|
$ |
7,469 |
|
$ |
— |
|
$ |
17,125 |
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|
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Cost of revenue |
|
|
2,410 |
|
|
2,535 |
|
|
— |
|
|
4,945 |
Depreciation and depletion |
|
|
1,457 |
|
|
— |
|
|
— |
|
|
1,457 |
Total cost of revenue |
|
|
3,867 |
|
|
2,535 |
|
|
— |
|
|
6,402 |
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Segment profit |
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$ |
5,789 |
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$ |
4,934 |
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$ |
— |
|
$ |
10,723 |
The following table summarizes the Company’s total assets by segment. The assets consist of water rights and water and wastewater systems in the Company’s water and wastewater resource development segment; land, land development costs and deposits in the Company’s land development segment; and the cost of the homes in the single-family rental line. The Company’s other assets (“Corporate”) primarily consist of cash, cash equivalents, restricted cash, equipment, and related party notes receivables.
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(In thousands) |
|
August 31, 2022 |
|
August 31, 2021 |
Water and wastewater resource development |
|
$ |
63,064 |
|
$ |
57,791 |
Land development |
|
|
25,522 |
|
|
32,844 |
Single-family rental |
|
|
1,715 |
|
|
— |
Corporate |
|
|
38,928 |
|
|
26,542 |
Total assets |
|
$ |
129,229 |
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$ |
117,177 |
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