v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information

Note 14. 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 Murray Stahl, CEO, who evaluates the respective segment contributions to operating income (loss) as part of an evaluation of assessing performance and resource allocations. 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 7.

 

The following provides information on our single segment for the years ended December 31, 2025 and 2024:

 

 

 

 

Year Ended December 31, 2025

 

 

Year Ended December 31, 2024

 

 

 

Asset Management

 

 

Reconciling Amounts

 

 

Total

 

 

Asset Management

 

 

Reconciling Amounts

 

 

Total

 

Revenue

 

$

80,419

 

 

$

(7,573

)

 

$

72,846

 

 

$

111,481

 

 

$

(55,673

)

 

$

55,808

 

Significant segment expense

 

 

32,028

 

 

 

-

 

 

 

32,028

 

 

 

37,550

 

 

 

-

 

 

 

37,550

 

Depreciation and amortization

 

 

1,116

 

 

 

-

 

 

 

1,116

 

 

 

1,816

 

 

 

-

 

 

 

1,816

 

All other segment expenses

 

 

25,877

 

 

 

2,742

 

 

 

28,619

 

 

 

28,968

 

 

 

2,534

 

 

 

31,502

 

Operating income (loss)

 

$

21,398

 

 

$

(10,315

)

 

$

11,083

 

 

$

43,147

 

 

$

(58,207

)

 

$

(15,060

)

 

 

 

-

 

 

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

Identifiable assets

 

$

434,028

 

 

$

1,562,783

 

 

$

1,996,811

 

 

$

483,585

 

 

$

1,544,591

 

 

$

2,028,176

 

 

Geographic Area Information

 

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