Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting

v3.25.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has a single operating and reportable segment that derives its revenue from customers through the production and sale of agricultural produce, consisting primarily of grown living and loose leaf lettuce, arugula, spinach, and basil. All of the Company's revenue is generated in the U.S., and the Company manages its business activities on a consolidated basis. The Company’s chief operating decision maker ("CODM") is the Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. 

The CODM assesses segment performance and decides how to allocate resources based on net loss, which is also reported on the Consolidated Statements of Operations, and net cash generated by or used in operating activities, which is also reported on the Consolidated Statements of Cash Flows. The measure of segment assets is reported on the Consolidated Balance Sheets as total assets. Significant expenses reviewed by the CODM include those that are presented in the Consolidated Statements of Operations. The accounting policies of the Company's single reportable segment are the same as those described in Note 2, Summary of Significant Accounting Policies.

Segment operating results, including significant expenses regularly provided to the CODM, along with a reconciliation of segment operating loss to consolidated net loss, are as follows:
Year Ended December 31,
(in thousands)
2024 2023
Revenue $ 38,138 $ 27,557
Less:
Salaries and wages 34,907 35,757
Transportation and delivery 2,662 1,837
Depreciation and amortization 18,871  13,132 
Interest expense, net 58,923 25,745
Stock-based compensation expense, net of amounts capitalized 3,348 16,274
Other segment items(1)
39,329 58,827
Segment net loss (119,902) (124,015)
Reconciliation of profit or loss
Adjustments and reconciling items — —
Net loss $ (119,902) $ (124,015)
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(1) Other segment items included in Segment net loss include goodwill impairment, change in fair value of warrant liability, research and development expense, facilities expense, legal expense, accounting expense, insurance expense, loss on disposal of fixed assets, software expense, and other overhead expense.