v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 8. Segment Information

 

We previously operated in two operating segments: asset management and consumer products. We chose to organize our business around these segments based on 1) differences in the products and services sold, 2) the availability of discrete financial information, and 3) the reports that are regularly reviewed by the chief operating decision maker for the purpose of assessing performance and allocating resources. Accounting policies for our segments are the same as those described in Note 2. We evaluated segment performance based on several factors, including income or loss before the provision for income taxes.

 

In the third quarter of 2025, in conjunction with the divestiture of our consumer products, the Company determined that it has one reportable segment. The divestiture of consumer products is described in Note 3.

 

The following provides information on our segment for the three and nine months ended September 30:

 

 

 

Three Months Ended September 30, 2025

 

 

Three Months Ended September 30, 2024

 

 

 

Asset Management

 

 

Reconciling Amounts

 

 

Total

 

 

Asset Management

 

 

Reconciling Amounts

 

 

Total

 

Revenue

 

$

19,690

 

 

$

(1,797

)

 

$

17,893

 

 

$

14,956

 

 

$

(1,897

)

 

$

13,059

 

Significant segment expense

 

 

7,685

 

 

 

-

 

 

 

7,685

 

 

 

7,220

 

 

 

-

 

 

 

7,220

 

Depreciation and amortization

 

 

199

 

 

 

-

 

 

 

199

 

 

 

455

 

 

 

-

 

 

 

455

 

All other segment expenses

 

 

6,314

 

 

 

(20

)

 

 

6,294

 

 

 

5,745

 

 

 

561

 

 

 

6,306

 

Operating income (loss)

 

 

5,492

 

 

 

(2,543

)

 

 

2,949

 

 

 

1,536

 

 

 

(2,458

)

 

 

(922

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable assets

 

 

469,845

 

 

 

1,712,870

 

 

 

2,182,715

 

 

 

360,660

 

 

 

1,259,477

 

 

 

1,620,137

 

 

 

 

Nine Months Ended September 30, 2025

 

 

Nine Months Ended September 30, 2024

 

 

 

Asset Management

 

 

Reconciling Amounts

 

 

Total

 

 

Asset Management

 

 

Reconciling Amounts

 

 

Total

 

Revenue

 

$

61,585

 

 

$

(5,775

)

 

$

55,810

 

 

$

42,023

 

 

$

(4,458

)

 

$

37,565

 

Significant segment expense

 

 

24,718

 

 

 

-

 

 

 

24,718

 

 

 

19,903

 

 

 

-

 

 

 

19,903

 

Depreciation and amortization

 

 

917

 

 

 

-

 

 

 

917

 

 

 

1,374

 

 

 

-

 

 

 

1,374

 

All other segment expenses

 

 

19,840

 

 

 

(64

)

 

 

19,776

 

 

 

15,345

 

 

 

1,584

 

 

 

16,929

 

Operating income (loss)

 

 

16,110

 

 

 

(7,789

)

 

 

8,321

 

 

 

5,401

 

 

 

(6,042

)

 

 

(641

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable assets

 

 

469,845

 

 

 

1,712,870

 

 

 

2,182,715

 

 

 

360,660

 

 

 

1,259,477

 

 

 

1,620,137

 

 

As of September 30, 2025 and December 31, 2024, all of the Company’s assets were located in the United States of America.