Disaggregation of Revenue, Significant Customers and Geographic Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Disaggregation of Revenue, Significant Customers and Geographic Information

Note 13 –Disaggregation of Revenue, Significant Customers and Geographic Information

Lifeway’s primary product is drinkable kefir. The Company manufactures (directly or through a co-manufacturer) and markets products under the Lifeway, Fresh Made, and GlenOaks Farms brand names, as well as under private labels on behalf of certain customers.

The Company’s product categories are:

· Drinkable kefir, a cultured dairy product sold in a variety of organic and non-organic sizes, flavors, and types.

· European-style soft cheeses, including farmer cheese, white cheese, and Sweet Kiss.

· Cream and other, which primarily consists of cream, a byproduct of raw milk processing.

· Drinkable yogurt, sold in a variety of sizes and flavors.

· ProBugs, a line of kefir products designed for children.

· Other dairy, which primarily consists of Fresh Made butter and sour cream.

Net sales of products by category were as follows for the years ended December 31:

	2023				2022
In thousands	$		%		$		%
Drinkable Kefir other than ProBugs		127,726		80%		110,247		78%
Cheese		13,781		9%		12,651		9%
Cream and other		7,382		4%		7,465		5%
Drinkable Yogurt		6,236		4%		6,105		4%
ProBugs Kefir		3,429		2%		3,403		3%
Other dairy		1,569		1%		1,697		1%
Net Sales		160,123		100%		141,568		100%

Significant Customers

Sales are predominately to companies in the retail food industry located within the United States. Two major customers accounted for approximately 24% and 22% of net sales for the years ended December 31, 2023 and 2022, respectively. Two major customers accounted for 25% and 28% of accounts receivable as of December 31, 2023 and 2022, respectively.

Geographic Information

Net sales outside the of the United States represented less than 1% of total consolidated net sales in 2023 and 2022, respectively. Net sales are determined based on the destination where the products are shipped by Lifeway.

All the Company’s long-lived assets are in the United States.