Blüm Holdings Inc. Quarterly report [Sections 13 or 15(d)]

Note 10 - Business Combinations (Tables)

9 Months Ended

Sep. 30, 2025

	(in thousands)
	*Coastal Pine Group*			*EWCR*			*Green Door Redding*
Equity Consideration - Common Stock	$	1,264		$	316		$	914
Put Option		3,480			—			327
Note Payable		1,874			457			—
Cash Consideration		—			800			—
Earnout Provision		—			4			—
Non-Controlling Interest		—			—			347
Total Consideration	$	6,618		$	1,577		$	1,588

Assets Acquired:
Cash		959			29			137
Accounts Receivable		85			—			1
Inventory		524			364			166
Prepaid Expenses & Other Current Assets		112			11			—
Property, Equipment and Leasehold Improvements		470			162			295
Right-of-Use Asset - Operating Leases		1,694			—			1,351
Intangible Assets		3,100			3,600			2,010
Other Assets		—			86			—
Total Assets Acquired		6,944			4,252			3,960

Liabilities Assumed:
Accounts Payable & Accrued Liabilities		3,877			4,548			752
Operating Lease Liabilities		2,077			—			804
Notes Payable		307			457			4
Income Taxes Payable		9,632			7,527			740
Accrued Income Taxes		—			2,014			957
Deferred Tax Liabilities		1,549			319			178
Total Liabilities Assumed		17,442			14,865			3,435

Fair Value of Net Assets (Liabilities) Acquired		(10,498	)		(10,613	)		525

Goodwill	$	17,116		$	12,190		$	1,063

	(in thousands)
	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2025*			*2024*			*2025*			*2024*
Pro Forma Revenue	$	4,847		$	8,815		$	17,358		$	27,424
Pro Forma Net Income (Loss)	$	(2,559	)	$	(3,940	)	$	(5,320	)	$	15,236

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.