| Segment Information |
The tables below present the measure of profit and assets used to assess the performance of the segment for the periods presented:
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|
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|
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|
|
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|
|
|
|
Three Months Ended February 28, 2022 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
2,809 |
|
$ |
1,829 |
|
$ |
26 |
|
$ |
4,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
810 |
|
|
341 |
|
|
4 |
|
|
1,155 |
Depreciation and depletion |
|
|
352 |
|
|
— |
|
|
— |
|
|
352 |
Total cost of revenue |
|
|
1,162 |
|
|
341 |
|
|
4 |
|
|
1,507 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
1,647 |
|
$ |
1,488 |
|
$ |
22 |
|
$ |
3,157 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended February 28, 2021 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
2,676 |
|
$ |
2,063 |
|
$ |
— |
|
$ |
4,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
640 |
|
|
269 |
|
|
— |
|
|
909 |
Depreciation and depletion |
|
|
354 |
|
|
— |
|
|
— |
|
|
354 |
Total cost of revenue |
|
|
994 |
|
|
269 |
|
|
— |
|
|
1,263 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
1,682 |
|
$ |
1,794 |
|
$ |
— |
|
$ |
3,476 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 28, 2022 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
3,880 |
|
$ |
5,022 |
|
$ |
34 |
|
$ |
8,936 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
1,306 |
|
|
872 |
|
|
7 |
|
|
2,185 |
Depreciation and depletion |
|
|
706 |
|
|
— |
|
|
— |
|
|
706 |
Total cost of revenue |
|
|
2,012 |
|
|
872 |
|
|
7 |
|
|
2,891 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
1,868 |
|
$ |
4,150 |
|
$ |
27 |
|
$ |
6,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 28, 2021 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
5,188 |
|
$ |
4,419 |
|
$ |
— |
|
$ |
9,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
1,301 |
|
|
1,988 |
|
|
— |
|
|
3,289 |
Depreciation and depletion |
|
|
719 |
|
|
— |
|
|
— |
|
|
719 |
Total cost of revenue |
|
|
2,020 |
|
|
1,988 |
|
|
— |
|
|
4,008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
3,168 |
|
$ |
2,431 |
|
$ |
— |
|
$ |
5,599 |
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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|
|
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|
(In thousands) |
|
February 28, 2022 |
|
August 31, 2021 |
Water and wastewater resource development |
|
$ |
57,470 |
|
$ |
57,791 |
Land development |
|
|
44,159 |
|
|
32,844 |
Single-family rental |
|
|
1,546 |
|
|
— |
Corporate |
|
|
10,186 |
|
|
26,542 |
Total assets |
|
$ |
113,361 |
|
$ |
117,177 |
|