Blüm Holdings Inc. Registration of securities issued in business combination transactions

SEGMENT INFORMATION (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

	(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	2023		2022		2023			2022			2023		2022		2023			2022
Cannabis Retail	$	8,415	$	11,140		95.7	%		70.5	%	$	16,885	$	23,653		93.6	%		68.3	%
Cannabis Cultivation & Distribution		382		4,661		4.3	%		29.5	%		1,152		10,997		6.4	%		31.7	%
Total	$	8,797	$	15,801		100.0	%		100.0	%	$	18,037	$	34,650		100.0	%		100.0	%

	(in thousands)
	Three Months Ended June 30, 2023												Three Months Ended June 30, 2022
	Cannabis Retail			Cannabis Cultivation & Distribution			Corporate & Other			Total			Cannabis Retail			Cannabis Cultivation & Distribution			Corporate & Other			Total
Total Revenues	$	8,415		$	382		$	-		$	8,797		$	11,140		$	4,661		$	-		$	15,801
Cost of Goods Sold		3,963			234			-			4,197			5,430			2,284			-			7,714
Gross Profit		4,452			148			-			4,600			5,710			2,377			-			8,087
Gross Profit %		52.9	%		38.7	%								51.3	%		51.0	%

Selling, General & Administrative Expenses		2,852			312			4,907			8,071			6,427			3,886			7,847			18,160
Impairment Expense		-			-			-			-			-			-			55,726			55,726
(Gain) Loss on Disposal of Assets		-			-			(1,739	)		(1,739	)		542			-			(1	)		541
Income (Loss) from Operations		1,600			(164	)		(3,168	)		(1,732	)		(1,259	)		(1,509	)		(63,572	)		(66,340	)

Other Income (Expense):
Interest Income (Expense)		48			-			(235	)		(187	)		-			(11	)		(427	)		(438	)
Gain on Settlement of Liabilities		110			-			-			110			-			-			-			-
Unrealized Gain on Investments		-			-			-			-			-			-			963			963
Other Income (Expense)		(31	)		9			264			242			(71	)		112			189			230
Total Other Income (Expense), Net		127			9			29			165			(71	)		101			725			755

Income (Loss) Before Provision for Income Taxes	$	1,727		$	(155	)	$	(3,139	)	$	(1,567	)	$	(1,330	)	$	(1,408	)	$	(62,847	)	$	(65,585	)

Total Assets (Liabilities)	$	18,231		$	4,456		$	15,573		$	38,260		$	51,162		$	(73	)	$	129,166		$	180,255

	(in thousands)
	Six Months Ended June 30, 2023												Six Months Ended June 30, 2022
	Cannabis Retail			Cannabis Cultivation & Distribution			Corporate & Other			Total			Cannabis Retail			Cannabis Cultivation & Distribution			Corporate & Other			Total
Total Revenues	$	16,885		$	1,152		$	-		$	18,037		$	23,653		$	10,997		$	-		$	34,650
Cost of Goods Sold		7,768			974			-			8,742			12,311			8,139			-			20,450
Gross Profit		9,117			178			-			9,295			11,342			2,858			-			14,200
Gross Profit %		54.0	%		15.5	%								48.0	%		26.0	%

Selling, General & Administrative Expenses		5,310			467			7,891			13,668			11,452			8,486			16,153			36,091
Impairment Expense		-			-			-			-			-			-			55,726			55,726
(Gain) Loss on Disposal of Assets		-			-			(1,739	)		(1,739	)		542			-			(199	)		343
Income (Loss) from Operations		3,807			(289	)		(6,152	)		(2,634	)		(652	)		(5,628	)		(71,680	)		(77,960	)

Other Income (Expense):
Interest Expense		-			-			(1,211	)		(1,211	)		-			(176	)		(2,028	)		(2,204	)
Gain on Extinguishment of Debt		-			-			3,026			3,026			-			-			542			542
Gain on Settlement of Liabilities		110			-			-			110			-			-			-			-
Realized Loss on Investments		-			-			(61	)		(61	)		-			-			-			-
Unrealized Gain on Investments		-			-			-			-			-			-			963			963
Other Income (Expense)		(317	)		324			264			271			(397	)		527			728			858
Total Other Income (Expense), Net		(207	)		324			2,018			2,135			(397	)		351			205			159

Income (Loss) Before Provision for Income Taxes	$	3,600		$	35		$	(4,134	)	$	(499	)	$	(1,049	)	$	(5,277	)	$	(71,475	)	$	(77,801	)

Total Assets (Liabilities)	$	18,231		$	4,456		$	15,573		$	38,260		$	51,162		$	(73	)	$	129,166		$	180,255

	(in thousands)
	Total Revenue				% of Total Revenue
	Year Ended December 31,
Segment	2022		2021		2022			2021
Cannabis Retail	$	39,937	$	24,540		76.8	%		58.3	%
Cannabis Cultivation & Distribution		12,078		17,580		23.2	%		41.7	%
Total	$	52,015	$	42,120		100.0	%		100.0	%

	(in thousands)
	Year Ended December 31, 2022
	Cannabis Retail			Cannabis Cultivation and Distribution			Corporate and Other			Total
Total Revenues	$	39,937		$	12,078		$	—		$	52,015
Cost of Goods Sold		19,586			15,532			—			35,118
Gross Profit (Loss)		20,351			(3,454	)		—			16,897

Selling, General and Administrative Expenses		17,513			11,009			25,634			54,156
Impairment Expense		—			—			163,698			163,698
(Gain) Loss on Sale Of Assets		(2,663	)		(3,652	)		(879	)		(7,194	)
Income (Loss) from Operations		5,501			(10,811	)		(188,453	)		(193,763	)

Other Income (Expense):
Interest Expense		—			(170	)		(4,003	)		(4,173	)

Gain (Loss) on Extinguishment of Debt		—			—			542			542
Unrealized Gain (Loss) on Investments		—			—			210			210
Other Income (Loss)		210			750			590			1,550
Total Other Income (Loss)		210			580			(2,661	)		(1,871	)

Income (Loss) Before Provision for Income Taxes	$	5,711		$	(10,231	)	$	(191,114	)	$	(195,634	)

Total Assets	$	18,716		$	4,344		$	17,448		$	40,508

	(in thousands)
	Year Ended December 31, 2021
	Cannabis Retail			Cannabis Cultivation and Distribution			Corporate and Other			Total
Total Revenues	$	24,540		$	17,580		$	—		$	42,120
Cost of Goods Sold		13,706			17,395			—			31,101
Gross Profit		10,834			185			—			11,019

Selling, General and Administrative Expenses		12,327			6,876			27,111			46,314
Impairment Expense		6,171			—			—			6,171
(Gain) Loss on Sale Of Assets		—			56			(3,189	)		(3,133	)
Income (Loss) from Operations		(7,664	)		(6,747	)		(23,922	)		(38,333	)

Other Income (Expense):
Interest Expense		(85	)		(184	)		(1,506	)		(1,775	)
Gain (Loss) on Extinguishment of Debt		—			185			(6,161	)		(5,976	)
Gain (Loss) on Investments		—			—			5,337			5,337

Other Income (Loss)		110			85			(628	)		(433	)
Total Other Income (Loss)		25			86			(2,958	)		(2,847	)

Income (Loss) Before Provision for Income Taxes	$	(7,639	)	$	(6,661	)	$	(26,880	)	$	(41,180	)

Total Assets	$	54,846		$	(5,565	)	$	222,543		$	271,824