| Segment Reporting |
The tables below present the measure of profit and assets used to assess the performance of the two required segments and the single-family rentals that the Company believes will become a segment for the periods presented:
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|
|
|
Three Months Ended February 28, 2025 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
2,625 |
|
$ |
1,252 |
|
$ |
118 |
|
$ |
3,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
758 |
|
|
1,217 |
|
|
25 |
|
|
2,000 |
Depreciation and depletion |
|
|
468 |
|
|
— |
|
|
— |
|
|
468 |
Total cost of revenue |
|
|
1,226 |
|
|
1,217 |
|
|
25 |
|
|
2,468 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
1,399 |
|
$ |
35 |
|
$ |
93 |
|
$ |
1,527 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended February 29, 2024 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
1,816 |
|
$ |
1,256 |
|
$ |
125 |
|
$ |
3,197 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
778 |
|
|
249 |
|
|
33 |
|
|
1,060 |
Depreciation and depletion |
|
|
360 |
|
|
— |
|
|
— |
|
|
360 |
Total cost of revenue |
|
|
1,138 |
|
|
249 |
|
|
33 |
|
|
1,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
678 |
|
$ |
1,007 |
|
$ |
92 |
|
$ |
1,777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 28, 2025 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
5,681 |
|
$ |
3,824 |
|
$ |
242 |
|
$ |
9,747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
1,745 |
|
|
1,877 |
|
|
93 |
|
|
3,715 |
Depreciation and depletion |
|
|
839 |
|
|
— |
|
|
— |
|
|
839 |
Total cost of revenue |
|
|
2,584 |
|
|
1,877 |
|
|
93 |
|
|
4,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment (loss) profit |
|
$ |
3,097 |
|
$ |
1,947 |
|
$ |
149 |
|
$ |
5,193 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended February 29, 2024 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
5,097 |
|
$ |
3,252 |
|
$ |
234 |
|
$ |
8,583 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
1,636 |
|
|
1,016 |
|
|
90 |
|
|
2,742 |
Depreciation and depletion |
|
|
722 |
|
|
— |
|
|
— |
|
|
722 |
Total cost of revenue |
|
|
2,358 |
|
|
1,016 |
|
|
90 |
|
|
3,464 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
2,739 |
|
$ |
2,236 |
|
$ |
144 |
|
$ |
5,119 |
The following table summarizes the Company’s total assets by segment.
|
|
|
|
|
|
|
(In thousands) |
|
February 28, 2025 |
|
August 31, 2024 |
Water and wastewater resource development |
|
$ |
67,912 |
|
$ |
64,616 |
Land development |
|
|
9,151 |
|
|
8,521 |
Single-family rental |
|
|
5,333 |
|
|
5,371 |
Corporate |
|
|
67,260 |
|
|
68,846 |
Total assets |
|
$ |
149,656 |
|
$ |
147,354 |
|