| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2025 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
2,345 |
|
$ |
2,664 |
|
$ |
131 |
|
$ |
5,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
891 |
|
|
543 |
|
|
40 |
|
|
1,474 |
Depreciation and depletion |
|
|
409 |
|
|
— |
|
|
— |
|
|
409 |
Total cost of revenue |
|
|
1,300 |
|
|
543 |
|
|
40 |
|
|
1,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
1,045 |
|
$ |
2,121 |
|
$ |
91 |
|
$ |
3,257 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended May 31, 2024 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
2,465 |
|
$ |
5,016 |
|
$ |
123 |
|
$ |
7,604 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
911 |
|
|
1,346 |
|
|
71 |
|
|
2,328 |
Depreciation and depletion |
|
|
410 |
|
|
— |
|
|
— |
|
|
410 |
Total cost of revenue |
|
|
1,321 |
|
|
1,346 |
|
|
71 |
|
|
2,738 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
1,144 |
|
$ |
3,670 |
|
$ |
52 |
|
$ |
4,866 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2025 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
8,026 |
|
$ |
6,488 |
|
$ |
373 |
|
$ |
14,887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
2,636 |
|
|
2,420 |
|
|
133 |
|
|
5,189 |
Depreciation and depletion |
|
|
1,248 |
|
|
— |
|
|
— |
|
|
1,248 |
Total cost of revenue |
|
|
3,884 |
|
|
2,420 |
|
|
133 |
|
|
6,437 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment (loss) profit |
|
$ |
4,142 |
|
$ |
4,068 |
|
$ |
240 |
|
$ |
8,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended May 31, 2024 |
(In thousands) |
|
Water and wastewater resource development |
|
Land development |
|
Single-family rental |
|
Total |
Total revenue |
|
$ |
7,562 |
|
$ |
8,268 |
|
$ |
357 |
|
$ |
16,187 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
2,547 |
|
|
2,362 |
|
|
161 |
|
|
5,070 |
Depreciation and depletion |
|
|
1,132 |
|
|
— |
|
|
— |
|
|
1,132 |
Total cost of revenue |
|
|
3,679 |
|
|
2,362 |
|
|
161 |
|
|
6,202 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit |
|
$ |
3,883 |
|
$ |
5,906 |
|
$ |
196 |
|
$ |
9,985 |
The following table summarizes the Company’s total assets by segment.
|
|
|
|
|
|
|
(In thousands) |
|
May 31, 2025 |
|
August 31, 2024 |
Water and wastewater resource development |
|
$ |
68,588 |
|
$ |
64,616 |
Land development |
|
|
11,497 |
|
|
8,521 |
Single-family rental |
|
|
5,272 |
|
|
5,371 |
Corporate |
|
|
66,382 |
|
|
68,846 |
Total assets |
|
$ |
151,739 |
|
$ |
147,354 |
|