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

Segment Reporting

v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
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, cress, and salad kits. 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)
2025
2024
Revenue
$
48,365
$
38,138
Less:
Salaries and wages
30,995
34,907
Transportation and delivery
3,238
2,662
Depreciation and amortization
23,197 
18,871 
Interest expense, net
32,167
58,923
Stock-based compensation expense, net of amounts capitalized
5,191
3,348
Other segment items(1)
47,956
39,329
Segment net loss
(94,379)
(119,902)
Reconciliation of profit or loss
Adjustments and reconciling items
—
—
Net loss
$
(94,379)
$
(119,902)
_____________________

(1) Other segment items included in Segment net loss include impairment of intangibles, 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.