Vivakor, Inc. Segments Disclosure

Note 16. Segments

 

As previously disclosed in our periodic filings with the SEC, the Company historically reported two business segments: crude oil transportation and facility services for terminaling and storage. In August 2024, the Company launched supply and trading activities, and beginning with the third quarter of 2025, management determined that these activities meet the criteria for a reportable operating segment under ASC 280. As a result, the Company now reports three reportable operating segments: transportation and logistics services, terminaling and storage services, and supply and trading.

 

The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The CODM evaluates operating performance and allocates resources using segment gross profit, which is determined on the same basis as consolidated gross profit presented in the Company’s condensed consolidated statements of operations. The CODM does not review segment asset information in assessing performance or allocating resources; therefore, segment assets are not presented. In prior periods, the Company presented segment results through net income (loss); however, beginning in 2025, the CODM evaluates segment performance based on gross profit. Accordingly, segment disclosures have been revised to reflect the current measure of segment performance.

 

Beginning in the third quarter of 2025, the Company no longer reports “Corporate and Other” as a separate category, as these activities do not constitute an operating segment and are not separately reviewed by the CODM. Corporate-level expenses, including executive and shared services personnel costs, stock-based compensation, legal and audit expenses, and other overhead items, are now allocated to operating segments or included in consolidated results, as appropriate.

 

Year ended December 31, 2025

 

Schedule of segment reporting information, by segment
		Transportation and Logistics Segment				Terminaling and Storage Segment				Supply and Trading Segment				Total Consolidated
Revenues		$	23,218,485			$	3,389,461			$	57,585,457			$	84,193,403
Revenues - related party			11,895,108				8,330,299				-				20,225,406
Total revenues			35,113,592				11,719,760				57,585,457				104,418,809
Cost of revenues			4,970,253				4,162,336				57,540,070				66,672,658
Gross profit		$	30,143,339			$	7,557,424			$	45,388			$	37,746,151

 

Year ended December 31, 2024

 

		Transportation and Logistics Segment				Terminaling and Storage Segment				Supply and Trading Segment				Total Consolidated
Revenues		$	18,782,745			$	39,829,406			$	-			$	58,612,151
Revenues - related party			-				31,199,089								31,199,089
Total revenues			18,782,745				71,028,495								89,811,240
Cost of revenues			13,804,019				65,788,017				-				79,592,036
Gross profit		$	4,978,726			$	5,240,478			$				$	10,219,204