| Schedule of segment reporting |
The following tables present the operating results of the Company’s segments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2024 |
|
|
Cannabis |
|
Accessories |
|
Corporate |
|
Other |
|
Total |
Revenue |
|
$ |
10,908 |
|
$ |
15,802 |
|
$ |
— |
|
$ |
— |
|
$ |
26,710 |
Inter-segment revenue |
|
|
— |
|
|
(129) |
|
|
— |
|
|
— |
|
|
(129) |
Net revenue |
|
$ |
10,908 |
|
$ |
15,673 |
|
$ |
— |
|
$ |
— |
|
$ |
26,581 |
Share-based compensation |
|
|
— |
|
|
— |
|
|
23 |
|
|
— |
|
|
23 |
Depreciation and amortization |
|
|
649 |
|
|
3,213 |
|
|
— |
|
|
— |
|
|
3,862 |
Wages and benefits |
|
|
1,826 |
|
|
1,310 |
|
|
1,501 |
|
|
— |
|
|
4,637 |
Impairment loss |
|
|
15,728 |
|
|
— |
|
|
— |
|
|
— |
|
|
15,728 |
Interest expense |
|
|
1,580 |
|
|
656 |
|
|
4,556 |
|
|
— |
|
|
6,792 |
Net loss |
|
$ |
(28,080) |
|
$ |
(3,727) |
|
$ |
(4,140) |
|
$ |
— |
|
$ |
(35,947) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2023 |
|
|
Cannabis |
|
Accessories |
|
Corporate |
|
Other |
|
Total |
Revenue |
|
$ |
12,925 |
|
$ |
28,833 |
|
$ |
— |
|
$ |
— |
|
$ |
41,758 |
Inter-segment revenue |
|
|
— |
|
|
(159) |
|
|
— |
|
|
— |
|
|
(159) |
Net revenue |
|
$ |
12,925 |
|
$ |
28,674 |
|
$ |
— |
|
$ |
— |
|
$ |
41,599 |
Share-based compensation |
|
|
— |
|
|
— |
|
|
(1,072) |
|
|
(1,286) |
|
|
(2,358) |
Depreciation and amortization |
|
|
821 |
|
|
3,246 |
|
|
628 |
|
|
17 |
|
|
4,712 |
Wages and benefits |
|
|
1,899 |
|
|
1,335 |
|
|
2,637 |
|
|
— |
|
|
5,871 |
Impairment loss |
|
|
3,208 |
|
|
16 |
|
|
986 |
|
|
737 |
|
|
4,947 |
Interest expense |
|
|
1,377 |
|
|
621 |
|
|
3,400 |
|
|
68 |
|
|
5,466 |
Loan losses |
|
|
— |
|
|
— |
|
|
277 |
|
|
4,923 |
|
|
5,200 |
Net loss |
|
$ |
(16,387) |
|
$ |
(2,840) |
|
$ |
(4,587) |
|
$ |
(4,523) |
|
$ |
(28,337) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2024 |
|
|
Cannabis |
|
Accessories |
|
Corporate |
|
Other |
|
Total |
Revenue |
|
$ |
21,297 |
|
$ |
43,171 |
|
$ |
— |
|
$ |
— |
|
$ |
64,468 |
Inter-segment revenue |
|
|
— |
|
|
(383) |
|
|
— |
|
|
— |
|
|
(383) |
Net revenue |
|
$ |
21,297 |
|
$ |
42,788 |
|
$ |
— |
|
$ |
— |
|
$ |
64,085 |
Share-based compensation |
|
|
— |
|
|
— |
|
|
130 |
|
|
— |
|
|
130 |
Depreciation and amortization |
|
|
1,296 |
|
|
6,432 |
|
|
— |
|
|
— |
|
|
7,728 |
Wages and benefits |
|
|
3,678 |
|
|
2,577 |
|
|
2,878 |
|
|
— |
|
|
9,133 |
Impairment loss |
|
|
15,740 |
|
|
— |
|
|
— |
|
|
— |
|
|
15,740 |
Interest expense |
|
|
2,949 |
|
|
1,581 |
|
|
8,305 |
|
|
— |
|
|
12,835 |
Loan losses |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Net income (loss) |
|
$ |
(29,954) |
|
$ |
(6,308) |
|
$ |
(9,334) |
|
$ |
(2) |
|
$ |
(45,598) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2023 |
|
|
Cannabis |
|
Accessories |
|
Corporate |
|
Other |
|
Total |
Revenue |
|
$ |
25,886 |
|
$ |
58,246 |
|
$ |
— |
|
$ |
— |
|
$ |
84,132 |
Inter-segment revenue |
|
|
— |
|
|
(269) |
|
|
— |
|
|
— |
|
|
(269) |
Net revenue |
|
$ |
25,886 |
|
$ |
57,977 |
|
$ |
— |
|
$ |
— |
|
$ |
83,863 |
Share-based compensation |
|
|
— |
|
|
— |
|
|
(831) |
|
|
(1,234) |
|
|
(2,065) |
Depreciation and amortization |
|
|
1,615 |
|
|
6,484 |
|
|
642 |
|
|
100 |
|
|
8,841 |
Wages and benefits |
|
|
4,120 |
|
|
2,608 |
|
|
4,927 |
|
|
— |
|
|
11,655 |
Impairment loss |
|
|
3,256 |
|
|
16 |
|
|
1,126 |
|
|
737 |
|
|
5,135 |
Interest expense |
|
|
2,733 |
|
|
1,263 |
|
|
5,494 |
|
|
68 |
|
|
9,558 |
Loan losses |
|
|
— |
|
|
— |
|
|
665 |
|
|
4,923 |
|
|
5,588 |
Net (loss) income |
|
$ |
(23,035) |
|
$ |
(5,490) |
|
$ |
(8,200) |
|
$ |
3,522 |
|
$ |
(33,203) |
|
| Schedule of revenue by geographic area |
The following table presents financial information relating to geographic areas in which the Company operated for the three and six months ended June 30, 2024 and 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2024 |
|
|
US |
|
Canada |
|
Other |
|
Total |
Revenue |
|
$ |
24,408 |
|
$ |
2,142 |
|
$ |
31 |
|
$ |
26,581 |
Gross profit |
|
|
3,754 |
|
|
484 |
|
|
21 |
|
|
4,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2023 |
|
|
US |
|
Canada |
|
Other |
|
Total |
Revenue |
|
$ |
36,232 |
|
$ |
5,361 |
|
$ |
6 |
|
$ |
41,599 |
Gross profit |
|
|
2,607 |
|
|
1,433 |
|
|
- |
|
|
4,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2024 |
|
|
US |
|
Canada |
|
Other |
|
Total |
Revenue |
|
$ |
57,764 |
|
$ |
6,281 |
|
$ |
40 |
|
$ |
64,085 |
Gross profit |
|
|
9,348 |
|
|
1,607 |
|
|
21 |
|
|
10,976 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2023 |
|
|
US |
|
Canada |
|
Other |
|
Total |
Revenue |
|
$ |
74,407 |
|
$ |
9,441 |
|
$ |
15 |
|
$ |
83,863 |
Gross profit |
|
|
10,397 |
|
|
2,435 |
|
|
4 |
|
|
12,836 |
|