Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION (Tables)

v3.22.2.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment Our reportable segments are as follows:
(in thousands) (in thousands)
Total Revenue % of Total Revenue Total Revenue % of Total Revenue
Three Months Ended June 30, Six Months Ended June 30,
Segment 2022 2021 2022 2021 2022 2021 2022 2021
Cannabis Retail $ 10,947  $ 2,318  62.4  % 80.7  % $ 23,056  $ 4,017  60.2  % 81.5  %
Cannabis Cultivation & Distribution 6,609  554  37.6  % 19.3  % 15,224  911  39.8  % 18.5  %
Total $ 17,556  $ 2,872  100.0  % 100.0  % $ 38,280  $ 4,928  100.0  % 100.0  %
(in thousands) (in thousands)
Six Months Ended June 30, 2022 Six Months Ended June 30, 2021
Cannabis Retail Cannabis Cultivation & Distribution Corporate & Other Total Cannabis Retail Cannabis Cultivation & Distribution Corporate & Other Total
Total revenues $ 23,056  $ 15,224  $ —  $ 38,280  $ 4,017  $ 911  $ —  $ 4,928 
Cost of goods sold 12,311  11,267  —  23,578  2,110  (97) —  2,013 
Gross profit 10,745  3,957  —  14,702  1,907  1,008  —  2,915 
Selling, general and administrative expenses 11,452  8,486  17,899  37,837  2,664  874  13,809  17,347 
Impairment of assets —  —  55,726  55,726  —  —  —  — 
Loss (gain) on sale of assets 542  —  (199) 343  —  —  —  — 
Income (loss) from operations (1,249) (4,529) (73,426) (79,204) (757) 134  (13,809) (14,432)
Other income (expense):
Interest expense —  (176) (2,034) (2,210) —  —  (112) (112)
Gain (loss) on extinguishment of debt —  —  542  542  —  —  (6,161) (6,161)
Realized and unrealized gain on investments —  —  963  963  —  —  5,337  5,337 
Other income 200  527  750  1,477  80  —  282  362 
Total other income (loss) 200  351  222  773  80  —  (654) (574)
Income (loss) before provision for income taxes $ (1,049) $ (4,178) $ (73,204) $ (78,432) $ (677) $ 134  $ (14,463) $ (15,006)
Total assets $ 51,164  $ (73) $ 133,018  $ 180,255  $ 18,950  $ (3,522) $ 91,373  $ 106,801 
(in thousands) (in thousands)
Three Months Ended June 30, 2022 Three Months Ended June 30, 2021
Cannabis Retail Cannabis Cultivation & Distribution Corporate & Other Total Cannabis Retail Cannabis Cultivation & Distribution Corporate & Other Total
Total revenues $ 10,947  $ 6,609  $ —  $ 17,556  $ 2,318  $ 554  $ —  $ 2,872 
Cost of goods sold 5,430  3,856  —  9,286  1,154  (1,007) —  147 
Gross profit 5,517  2,753  —  8,270  1,164  1,561  —  2,725 
Selling, general and administrative expenses 6,427  3,886  8,757  19,070  1,416  512  2,770  4,698 
Impairment of assets —  —  55,726  55,726  —  —  —  — 
Loss on sale of assets 542  —  —  542  —  —  —  — 
Income (loss) from operations (1,452) (1,133) (64,483) (67,068) (252) 1,049  (2,770) (1,973)
Other income (expense):
Interest expense —  (11) (432) (443) —  —  (39) (39)
Realized and unrealized gain (loss) on investments —  —  963  963  —  —  (874) (874)
Other income (loss) 122  112  209  443  80  —  (63) 17 
Total other income (loss) 122  101  740  963  80  —  (976) (896)
Income (loss) before provision for income taxes $ (1,330) $ (1,032) $ (63,743) $ (66,105) $ (172) $ 1,049  $ (3,746) $ (2,869)
Total assets $ 51,164  $ (73) $ 133,018  $ 180,255  $ 18,950  $ (3,522) $ 91,373  $ 106,801