Westrock Coffee Co

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 7, 2025

WEST$8.99-13.3%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

18. Segment Information

Note 18. Segment Information

Ourtwo operating segments, Beverage Solutions and Sustainable Sourcing & Traceability, are evaluated using Segment Adjusted EBITDA, which is a segment performance measure. We define Segment Adjusted EBITDA as net (loss) income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, equity-based compensation expense and the impact, which may be recurring in nature, of transaction, restructuring and integrations costs, impairment charges, changes in fair value of warrant liabilities, non-cash mark-to-market adjustments, certain non-capitalizable costs necessary to place the Conway Facility into commercial production, certain recurring operating costs related to the scale-up of operations of the Conway Facility, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, gains or losses on dispositions, and other similar or infrequent items (although we may not have had such charges in the periods presented).

The Company’s Chief Executive Officer, it’s chief operating decision maker (“CODM”), reviews Segment Adjusted EBITDA for the purpose of making operating decisions, assessing financial performance, and deciding how to allocate resources. Segment Adjusted EBITDA is used by the CODM to review operating trends and to monitor budget-to-actual variances in order to make key operating decisions.

Selected financial data, including a reconciliation of total reportable segments’ Segment Adjusted EBITDA to loss before income taxes and equity in earnings from unconsolidated entities, is presented below for the periods indicated:


· · Three Months Ended June 30, 2025
· · · Sustainable ·
· · Beverage · · Sourcing & · ·
(Thousands) · · Solutions · · Traceability · · Total
Net sales(1)	$208,814	$72,045	$280,859

Segment Adjusted EBITDA	19,670	3,315	22,985
Less:
Interest expense			13,119
Depreciation and amortization			15,016
Transaction, restructuring and integration expense			2,477
Equity-based compensation			4,750
Conway extract and ready-to-drink facility pre-production costs			9,072
Conway extract and ready-to-drink facility scale up operating costs			7,647
Mark-to-market adjustments			(1,441)
Other			(2,215)
Loss before income taxes and equity in earnings from unconsolidated entities			$(25,440)

Total assets	1,027,048	130,429	1,157,477

(1)	Excludes $2.6 million of intersegment revenues that represent sales of green coffee from our SS&T segment to our Beverage Solutions segment.


· · Three Months Ended June 30, 2024
· · · Sustainable ·
· · Beverage · · Sourcing & · ·
(Thousands) · · Solutions · · Traceability · · Total
Net sales(1)	$163,253	$45,136	$208,389

Segment Adjusted EBITDA	13,245	419	13,664
Less:
Interest expense			7,453
Depreciation and amortization			7,968
Transaction, restructuring and integration expense			4,399
Change in fair value of warrant liabilities			(1,612)
Equity-based compensation			3,025
Impairment charges			831
Conway extract and ready-to-drink facility pre-production costs			12,382
Conway extract and ready-to-drink facility scale up operating costs			1,230
Mark-to-market adjustments			(1,522)
(Gain) loss on disposal of property, plant and equipment			971
Other			886
Loss before income taxes and equity in earnings from unconsolidated entities			$(22,347)

Total assets	965,250	91,123	1,056,373

(1)	Excludes $1.6 million of intersegment revenues that represent sales of green coffee from our SS&T segment to our Beverage Solutions segment.


· · Six Months Ended June 30, 2025
· · · Sustainable ·
· · Beverage · · Sourcing & · ·
(Thousands) · · Solutions · · Traceability · · Total
Net sales(1)	$372,893	$121,762	$494,655

Segment Adjusted EBITDA	29,253	5,243	34,496
Less:
Interest expense			25,718
Depreciation and amortization			26,771
Transaction, restructuring and integration expense			4,268
Equity-based compensation			8,080
Conway extract and ready-to-drink facility pre-production costs			13,520
Conway extract and ready-to-drink facility scale up operating costs			10,935
Mark-to-market adjustments			(3,514)
(Gain) loss on disposal of property, plant and equipment			7
Other			(459)
Loss before income taxes and equity in earnings from unconsolidated entities			$(50,830)

Total assets	1,027,048	130,429	1,157,477

(1)	Excludes $6.5 million of intersegment revenues that represent sales of green coffee from our SS&T segment to our Beverage Solutions segment.


· · Six Months Ended June 30, 2024
· · · Sustainable ·
· · Beverage · · Sourcing & · ·
(Thousands) · · Solutions · · Traceability · · Total
Net sales(1)	$321,312	$79,577	$400,889

Segment Adjusted EBITDA	24,045	761	24,806
Less:
Interest expense			15,032
Depreciation and amortization			15,516
Transaction, restructuring and integration expense			7,363
Change in fair value of warrant liabilities			(1,653)
Equity-based compensation			5,481
Impairment charges			831
Conway extract and ready-to-drink facility pre-production costs			22,178
Conway extract and ready-to-drink facility scale up operating costs			1,230
Mark-to-market adjustments			(3,162)
(Gain) loss on disposal of property, plant and equipment			973
Other			1,169
Loss before income taxes and equity in earnings from unconsolidated entities			$(40,152)

Total assets	965,250	91,123	1,056,373

(1)	Excludes $3.5 million of intersegment revenues that represent sales of green coffee from our SS&T segment to our Beverage Solutions segment.

Significant segment expense for our reportable segments is presented below for the periods indicated:


· · · Three Months Ended June 30, 2025
· · · Sustainable
· · Beverage · · Sourcing &
(Thousands) · · Solutions · · Traceability
Net Sales	$208,814	$72,045
Less:
Costs of sales	163,565	66,378
Employee related(1)	14,082	1,909
Information technology	1,675	n/a
Advertising & marketing	737	n/a
Professional fees	2,429	n/a
Corporate insurance	1,338	n/a
Freight	2,992	n/a
Other segment expense(2)	2,326	443
Segment Adjusted EBITDA	$19,670	$3,315

(1)	Employee related costs are costs reported within selling, general and administrative expense in our Condensed Consolidated Statements of Operations, and include employee salaries, related taxes and benefits, short-term cash incentive compensation and travel and entertainment expenses.

(2)	Other segment expense includes equipment and real estate rent, equipment parts, supplies and service expenses and other overhead expenses.


· · · Three Months Ended June 30, 2024
· · · Sustainable
· · Beverage · · Sourcing &
(Thousands) · · Solutions · · Traceability
Net Sales	$163,253	$45,136
Less:
Costs of sales	121,899	41,870
Employee related(1)	12,012	1,776
Information technology	1,441	n/a
Advertising & marketing	1,421	n/a
Professional fees	2,272	n/a
Corporate insurance	2,002	n/a
Freight	4,273	n/a
Other segment expense(2)	4,688	1,071
Segment Adjusted EBITDA	$13,245	$419

(1)	Employee related costs are costs reported within selling, general and administrative expense in our Condensed Consolidated Statements of Operations, and include employee salaries, related taxes and benefits, short-term cash incentive compensation and travel and entertainment expenses.

(2)	Other segment expense includes equipment and real estate rent, equipment parts, supplies and service expenses and other overhead expenses.


· · · Six Months Ended June 30, 2025
· · · Sustainable
· · Beverage · · Sourcing &
(Thousands) · · Solutions · · Traceability
Net Sales	$372,893	$121,762
Less:
Costs of sales	295,005	111,804
Employee related(1)	25,888	3,698
Information technology	3,710	n/a
Advertising & marketing	1,453	n/a
Professional fees	4,522	n/a
Corporate insurance	2,933	n/a
Freight	6,000	n/a
Other segment expense(2)	4,129	1,017
Segment Adjusted EBITDA	$29,253	$5,243

(1)	Employee related costs are costs reported within selling, general and administrative expense in our Condensed Consolidated Statements of Operations, and include employee salaries, related taxes and benefits, short-term cash incentive compensation and travel and entertainment expenses.

(2)	Other segment expense includes equipment and real estate rent, equipment parts, supplies and service expenses and other overhead expenses.


· · · Six Months Ended June 30, 2024
· · · Sustainable
· · Beverage · · Sourcing &
(Thousands) · · Solutions · · Traceability
Net Sales	$321,312	$79,577
Less:
Costs of sales	242,386	73,676
Employee related(1)	23,936	3,326
Information technology	2,815	n/a
Advertising & marketing	2,097	n/a
Professional fees	4,823	n/a
Corporate insurance	4,093	n/a
Freight	7,750	n/a
Other segment expense(2)	9,367	1,814
Segment Adjusted EBITDA	$24,045	$761

(1)	Employee related costs are costs reported within selling, general and administrative expense in our Condensed Consolidated Statements of Operations, and include employee salaries, related taxes and benefits, short-term cash incentive compensation and travel and entertainment expenses.

(2)	Other segment expense includes equipment and real estate rent, equipment parts, supplies and service expenses and other overhead expenses.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.