{"id":18998,"date":"2026-05-14T22:14:02","date_gmt":"2026-05-15T03:14:02","guid":{"rendered":"https:\/\/1reason.com\/re\/maui-land-pineapple-company-inc-reports-fiscal-first-quarter-2026-results\/18998\/"},"modified":"2026-05-15T17:14:02","modified_gmt":"2026-05-15T22:14:02","slug":"maui-land-pineapple-company-inc-reports-fiscal-first-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/maui-land-pineapple-company-inc-reports-fiscal-first-quarter-2026-results\/18998\/","title":{"rendered":"Maui Land &amp; Pineapple Company, Inc. Reports Fiscal First Quarter 2026 Results"},"content":{"rendered":"<div>\n<p>\u201cWe are pleased with the Company\u2019s first quarter operational results which reflect our continued progress repositioning the Company\u2019s multiple-asset portfolio to maximize productivity, create new value, and contribute to meeting the needs of Maui\u2019s local businesses and families. This progress is fueled by accelerating deal flow including over $11 million in contracted land sales, $12 million in new property listings, ongoing negotiations for the sale of water-related assets, and strong recurring revenue from commercial real estate and agricultural land leasing. This quarter we also updated our reportable segmentation to help stakeholders track progress on our strategic plans which combine to demonstrate our Company\u2019s significant value.\u201d <strong>said Race Randle, CEO, Maui Land &amp; Pineapple Company, Inc.<\/strong><\/p>\n<p><strong>Notable achievements this period include the following:<\/strong><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:2%;width:2%;min-width:2%;vertical-align: top\"><strong>&#8211;<\/strong><\/td>\n<td style=\"max-width:98%;width:98%;min-width:98%;vertical-align: middle\">The Company revised its reportable segments during the first quarter to better reflect its business strategy, align its management reporting and increase transparency for investors. Under the revised segment structure, the Company will report on four operating segments which consist of the following: <\/p>\n<ul type=\"disc\">\n<li>Land Development &amp; Sales \u2013 consists of land development and sales projectsincluding primary housing, workforce housing, farm lots, and resort development. Sales of developed projects, home lots and non-strategic parcels will also be reported through this segment.<\/li>\n<li>Commercial Real Estate Leasing \u2013consists of the company\u2019s approximately 247,000 leasable square feet of industrial, office, retail, and residential properties.The commercial town centers reported via this segment include the Kapalua Resort in West Maui and the Haliimaile Town Center in Upcountry Maui.<\/li>\n<li>Land Leasing &amp; Management \u2013 consists of operations related to our over 21,000 acres of agricultural and conservation land, and associated water and wastewater infrastructure. Land leasing revenues and expenses will be reported in this segment to improve transparency of net operating income. Water and sewer infrastructure operations will also report financial results through this segment.<\/li>\n<li>Agribusiness Ventures \u2013 consists of the Company\u2019s efforts to self-perform certain value-added agriculture rather than lease to tenants.Currently, this segment will report on the Company\u2019s drought-resistant agave farm and operations. As other value-added and diversified agribusinesses are developed, they will be reported through this segment.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\"><strong>&#8211;<\/strong><\/td>\n<td style=\"vertical-align: middle\">Land Development &amp; Sales \u2013 In the quarter ended March 31, 2026, the Company has progressed predevelopment efforts for approximately 1,000 acres of resort residential and mixed-use lands along with over 1,800 acres of agricultural land for individual farm lots. The Company currently has two binding land sales totaling $11.2 million in escrow, an additional $15.0 million of land in contract negotiations and $12.0 million of parcels publicly listed for active sale. In the quarter ended March 31, 2026, there was a $2.4 million decrease in revenues with a $2.6 million decrease in expenses, which are directly attributed to the suspension of the Honokeana Homes Housing Project by the State of Hawaii in April 2025. The net operating results for this segment were consistent in this segment year over year.<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/><\/tr>\n<tr>\n<td style=\"vertical-align: top\"><strong>&#8211;<\/strong><\/td>\n<td style=\"vertical-align: middle\">Commercial Real Estate Leasing \u2013In the quarter ended March 31, 2026, the Company reached an occupancy level of 93% in its commercial real estate portfolio and expects to see increasing revenue as the leased properties reach stabilization. For the quarter overall results from this segment were consistent with revenues at $2.0 million and net operating income ats $1.2 million for both 2025 and 2026.<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/><\/tr>\n<tr>\n<td style=\"vertical-align: top\"><strong>&#8211;<\/strong><\/td>\n<td style=\"vertical-align: middle\">Land Leasing &amp; Management \u2013 In the quarter ending March 31, 2026, the company increased the quantity of leased agricultural lands by 33.73%, or 1,581 acres, from 4,687 leased acres to 6,268 leased acres of over 21,000 leasable acres, aimed at improving revenue and NOI in this segment in future quarters. Revenues for agricultural land leases and utilities were consistent year over year at $1.2 million. Expenses related to land management, conservation, watershed management and infrastructure operations increased by $1.1 million, from $0.7 million to $1.8 million compared to the prior year as raw land is prepared for utilization and assets are positioned for productivity. Negotiations for the sale and lease of water-related assets continue to progress.<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/><\/tr>\n<tr>\n<td style=\"vertical-align: top\"><strong>&#8211;<\/strong><\/td>\n<td style=\"vertical-align: middle\">Agribusiness ventures \u2013 In the quarter ended March 31, 2026, $0.3 million was spent on advancing the cultivation of drought-resistant blue agave related to the Company\u2019s 325-acre Hali\u2019imaile Ranch subdivision in process. To date, a strategic investment of approximately $2.0 million has been expended to launch this business.<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/><\/tr>\n<\/table>\n<p><strong>The Company&#8217;s Chairman, Scot Sellers, commented:<\/strong> \u201cThe Company has continued to make progress on our mission to put our land and assets to their most productive uses, building value through the advancement of an increasing volume of development and leasing projects. The refined segmentation should aid stakeholders in tracking progress as the management team advances the exciting pipeline of projects, poised to create significant value for our shareholders and the community.\u201d<\/p>\n<p><strong>Non-GAAP Financial Measures<\/strong><\/p>\n<p>Certainnon-GAAP financial measures are presented in this press release, including Adjusted EBITDA, to provide information that may assist investors in understanding the Company&#8217;s financial results and assessing its prospects for future performance. We believe that Adjusted EBITDA is an important indicator of our operating performance because it excludes items that are unrelated to, and may not be indicative of, our core operating results. This non-GAAP financial measure is not intended to represent and should not be considered a more meaningful measure than, or alternative to, measures of operating performance as determined in accordance with GAAP. To the extent we utilize such non-GAAP financial measures in the future, we expect to calculate them using a consistent method from period to period.<\/p>\n<p>EBITDA is a non-GAAP financial measure defined as net income (loss) excluding interest, taxes, depreciation and amortization. Adjusted EBITDA is further adjusted for non-cash stock-based compensation expense, pension and post-retirement expenses, and bad debt. Adjusted EBITDA is a key measure used by the Company to evaluate operating performance, generate future operating plans and make strategic decisions for the allocation of capital. The Company presents Adjusted EBITDA to provide information that may assist investors in understanding its financial results. However, Adjusted EBITDA is not intended to be a substitute for net income (loss). A reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure is provided further below.<\/p>\n<p><strong>Additional Information<\/strong><\/p>\n<p>More information about Maui Land &amp; Pineapple Company\u2019sfirst quarter 2026operating results are available in the Form 10-Q filed with the Securities and Exchange Commission and posted at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ZvyQ6xSHo24SBGtmCzTGrZrh7JWXaCRUFEr31mz6URtFs9vel0d4eqwT7HeIkkDvTLaB-oVsYzMUU4pgbBP22Q==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\"><u>mauiland.com<\/u><\/a>.<\/p>\n<p><strong>About Maui Land &amp; Pineapple Company<\/strong><\/p>\n<p>Maui Land &amp; Pineapple Company, Inc. (NYSE: MLP) is dedicated to the thoughtful stewardship of its portfolio, including over 22,000 acres of land along with approximately 247,000 square feet of commercial real estate. The Company envisions a future where Maui residents thrive in more resilient communities with sufficient housing supply, economic stability, food and water security, and deep connections between people and place. For over a century, MLP has built a legacy of thoughtful stewardshipthrough conservation, agriculture, community building, and land management. The Company continues this legacy today with a mission to thoughtfullymaximize the productive use of its assets to meet thecritical needsof current and future generations.<\/p>\n<p>Company assets include land for future residential communities and mixed-use projects within the world-renowned Kapalua Resort, home to luxury hotels such as The Ritz-Carlton Maui and The Resort at Kapalua Bay, pristine beaches, a network of walking and hiking trails, and the Pu\u2018u Kukui Watershed, the largest private nature preserve in Hawai\u2018i.<\/p>\n<p><strong>Forward-Looking Statements<\/strong><\/p>\n<p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company\u2019s ability to put its land into productive use, our ability to cultivate and commercialize Agave, our ability to market and sell nonstrategic parcels in our portfolio, and our ability to consummate land sales in escrow or active negotiations. These forward-looking statements are based upon the current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are beyond the control of the Company. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company&#8217;s reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available on the SEC&#8217;s Internet site (http:\/\/www.sec.gov). We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise.<\/p>\n<p><strong>CONTACT<\/strong><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:10%;width:10%;min-width:10%;vertical-align: top\">Investors:<\/td>\n<td style=\"max-width:90%;width:90%;min-width:90%;vertical-align: top\">Wade Kodama | Chief Financial Officer | Maui Land &amp; Pineapple Company<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">e: wade@mauiland.com<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:10%;width:10%;min-width:10%;vertical-align: top\">Media:<\/td>\n<td style=\"max-width:90%;width:90%;min-width:90%;vertical-align: top\">Ashley Takitani Leahey | Vice President | Maui Land &amp; Pineapple Company<br \/>e: ashley@mauiland.com<br \/>Dylan Beesley | Senior Vice President | Bennet Group Strategic Communications<br \/>e: dylan@bennetgroup.com<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>MAUI LAND &amp; PINEAPPLE COMPANY, INC. AND SUBSIDIARIES<\/strong><br \/><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)<\/strong><br \/><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Three Months Ended <br \/>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:71%;width:71%;min-width:71%;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2026<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>(in thousands except<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>per share amounts)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">OPERATING REVENUES<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Land leasing and management<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,192<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,234<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Agribusiness venture<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Land development and sales<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">257<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,619<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Commercial real estate leasing<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,956<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,951<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Total operating revenues<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3,405<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5,804<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">OPERATING COSTS AND EXPENSES<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Land leasing and management<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,784<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">652<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Agribusiness venture<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">55<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Land development and sales<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">338<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,933<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Commercial real estate leasing<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">773<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">714<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">General and administrative<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,298<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,517<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Share-based compensation<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">939<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,581<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Depreciation<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">233<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">186<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Total operating costs and expenses<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5,420<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">7,583<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">OPERATING LOSS<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(2,015<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(1,779<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Gain (loss) on assets disposal, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Other income<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">38<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">105<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Pension and other post-retirement expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(20<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(6,919<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(62<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(48<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">NET LOSS<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(2,059<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(8,640<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Other comprehensive income &#8211; pension, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">79<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">TOTAL COMPREHENSIVE LOSS<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(2,059<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(8,561<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">NET LOSS PER COMMON SHARE-BASIC AND DILUTED<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(0.10<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(0.44<\/td>\n<td style=\"padding-left: 0;padding-right: 0\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>MAUI LAND &amp; PINEAPPLE COMPANY, INC. AND SUBSIDIARIES<\/strong><br \/><strong>CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"4\" style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>March 31, 2026<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>December 31, 2025<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>(audited)<\/strong><\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>(audited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>(in thousands except share data)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">ASSETS<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">CURRENT ASSETS<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"max-width:71%;width:71%;min-width:71%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">3,845<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5,295<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Accounts receivable, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,889<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,371<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Prepaid expenses and other assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">402<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">608<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Assets held for sale<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,862<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,827<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total current assets<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">7,998<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">9,101<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">PROPERTY &amp; EQUIPMENT, NET<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">18,117<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">18,243<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">OTHER ASSETS<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Deferred development costs &#8211; Development projects<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">16,543<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">15,720<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Deferred development costs &#8211; Agave venture<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,950<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,680<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Right of use assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">554<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">518<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Other noncurrent assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,710<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,706<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total other assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">21,757<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">20,624<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">TOTAL ASSETS<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">47,872<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">47,968<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">LIABILITIES &amp; STOCKHOLDERS&#8217; EQUITY<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">LIABILITIES<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">CURRENT LIABILITIES<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,680<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2,774<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Payroll and employee benefits<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">607<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,159<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Accrued retirement benefits, current portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,609<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,620<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Deferred revenue, current portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,106<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">833<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Long-term debt, current portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">85<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">85<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Lease liability, current portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">88<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">106<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Other current liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">604<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">786<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total current liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5,779<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">7,363<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">LONG-TERM LIABILITIES<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Line of credit<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6,500<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">4,000<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Deferred revenue, noncurrent portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,066<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,100<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,927<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">1,927<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Long-term debt, noncurrent portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">88<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">102<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Lease liability, noncurrent portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">461<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">413<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total long-term liabilities<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">10,042<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">7,542<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">TOTAL LIABILITIES<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">15,821<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">14,905<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">COMMITMENTS AND CONTINGENCIES<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">STOCKHOLDERS&#8217; EQUITY<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"4\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Preferred stock&#8211;$0.0001 par value; 5,000,000 shares authorized;<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">no shares issued and outstanding<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"4\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Common stock&#8211;$0.0001 par value; 43,000,000 shares authorized;<\/td>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">19,799,569 and 19,755,431 shares issued and outstanding<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">at March 31, 2026 and December 31, 2025, respectively<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">88,308<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">87,580<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Additional paid-in-capital<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">17,665<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">17,346<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Accumulated deficit<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(73,646<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(71,587<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Accumulated other comprehensive loss<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(276<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(276<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Total stockholders&#8217; equity<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">32,051<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">33,063<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">TOTAL LIABILITIES &amp; STOCKHOLDERS&#8217; EQUITY<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">47,872<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">47,968<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p align=\"center\"><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>MAUI LAND &amp; PINEAPPLE COMPANY, INC. AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>SUPPLEMENTAL FINANCIAL INFORMATION<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>(NON-GAAP) UNAUDITED<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Three Months Ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>March 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:5%;width:5%;min-width:5%;vertical-align: bottom\" \/>\n<td style=\"max-width:66%;width:66%;min-width:66%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2026<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:12%;width:12%;min-width:12%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>(In thousands except per share<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>amounts)<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">NET LOSS<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(2,059<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(8,640<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Non-cash income and expenses<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">5<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">2<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Depreciation<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">233<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">186<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Amortization of licensing fee revenue<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(33<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(33<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Share-based compensation<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Vesting of Stock Options granted to Board Chair and Directors<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">120<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">975<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Vesting of Stock Compensation granted to Board Chair and Directors<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">193<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">174<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Vesting of Stock Options granted to CEO<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">198<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">199<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Vesting of employee Incentive Stock<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">428<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">231<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Non-cash loss\/(gain)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Bad debt expense and impairments<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">24<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">209<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Pension and other post-retirement expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">6,897<\/td>\n<td style=\"text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">ADJUSTED EBITDA (LOSS)<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">(891<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\">200<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;padding-left: 0;padding-right: 0;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<p><img alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/ZGRkODhlNDQtMzU4NC00ZGVkLTljZDAtYzQ0YjZjODMwZDQzLTEwMzkzMjgtMjAyNi0wNS0xNS1lbg==\/tiny\/Maui-Land-Pineapple-Company-In.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"left\">KAPALUA, Hawai\u2018i, May 15, 2026 (GLOBE NEWSWIRE) &#8212; Maui Land &amp; Pineapple Company, Inc. (NYSE: MLP) today reported financial results covering the quarter ended March 31, 2026.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/18998"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=18998"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/18998\/revisions"}],"predecessor-version":[{"id":19002,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/18998\/revisions\/19002"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=18998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=18998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=18998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}