Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations and Comprehensive Loss

v3.25.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Consolidated Statements of Operations and Comprehensive Loss    
Revenues, net $ 115,614 $ 165,956
Cost of goods sold (95,561) (141,580)
Gross profit 20,053 24,376
Operating expenses:    
Wages and benefits 17,704 21,120
General and administrative 12,571 17,692
Sales and marketing 593 1,163
Share-based compensation expense (benefit) 83 (1,665)
Depreciation and amortization 15,439 16,618
Impairment loss and loss on disposal of assets 43,093 12,600
Total operating expenses 89,483 67,528
Operating loss (69,430) (43,152)
Other income (expense):    
Interest income 4  
Other income 874 128
Gain on sale of assets and membership interests   8,882
Unrealized loss on investment (1) (6,401)
Loan receivable losses   (5,602)
Interest expense (26,388) (20,999)
Loss on foreign currency exchange (4) (12)
Total other expense (25,515) (24,004)
Loss from operations before income tax and non-controlling interest (94,945) (67,156)
Income taxes    
Income tax (expense) benefit (4,725) 3,339
Net loss before non-controlling interest (99,670) (63,817)
Less: Net income attributable to non-controlling interest   1,433
Net loss attributable to TILT Holdings Inc. (99,670) (62,384)
Other comprehensive loss    
Net loss before non-controlling interest (99,670) (63,817)
Foreign currency translation differences (9) (15)
Comprehensive loss before non-controlling interest (99,679) (63,832)
Less: Net income attributable to non-controlling interest   1,433
Comprehensive loss attributable to TILT Holdings Inc. $ (99,679) $ (62,399)
Weighted average number of shares outstanding:    
Weighted average number of shares outstanding - Basic (in shares) 388,705,737 379,578,134
Weighted average number of shares outstanding - Diluted (in shares) 388,705,737 379,578,134
Net loss per common share attributable to TILT Holdings Inc.    
Net loss per common share attributable to TILT Holdings Inc. - Basic (in Dollars per share) $ (0.26) $ (0.16)
Net loss per common share attributable to TILT Holdings Inc. - Diluted (in Dollars per share) $ (0.26) $ (0.16)