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

Note 20 - Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

	(in thousands)										(in thousands)
	*Total Revenue*				*% of Total Revenue*						*Total Revenue*				*% of Total Revenue*
	*Three Months Ended September 30,*										*Nine Months Ended September 30,*
	*2025*		*2024*		*2025*			*2024*			*2025*		*2024*		*2025*			*2024*
Cannabis Retail	$	4,777	$	4,283		98.6	%		98.1	%	$	10,328	$	9,793		97.8	%		98.6	%
Cannabis Distribution		70		81		1.4	%		1.9	%		237		140		2.2	%		1.4	%
Total	$	4,847	$	4,364		100.0	%		100.0	%	$	10,565	$	9,933		100.0	%		100.0	%

	(in thousands)
	*Three Months Ended September 30, 2025*												*Three Months Ended September 30, 2024*
	*Cannabis*			*Cannabis*			*Corporate &*						*Cannabis*			*Cannabis*			*Corporate &*
	*Retail*			*Distribution*			*Other*			*Total*			*Retail*			*Distribution*			*Other*			*Total*
Total Revenues	$	4,777		$	70		$	—		$	4,847		$	4,283		$	81		$	—		$	4,364
Cost of Goods Sold		2,504			21			—			2,525			1,974			(58	)		—			1,916
Gross Profit		2,273			49			—			2,322			2,309			139			—			2,448
Gross Profit %		47.6	%		70.0	%								53.9	%		171.6	%

Selling, General & Administrative		3,332			3			483			3,818			2,563			111			1,615			4,289
Loss on Disposal of Assets		—			—			—			—			32			—			327			359
Income (Loss) from Operations		(1,059	)		46			(483	)		(1,496	)		(286	)		28			(1,942	)		(2,200	)

Other Income (Expense):
Interest Income (Expense)		(486	)		—			5			(481	)		(207	)		—			(458	)		(665	)
Change in Fair Value of Derivative Liability		—			—			(78	)		(78	)		—			—			(550	)		(550	)
Provision from Employee Retention Credit		—			—			—			—			—			—			(361	)		(361	)
Unrealized Gain on Investments		—			—			—			—			—			—			520			520
Other Income (Loss)		2			—			(43	)		(41	)		61			—			(1	)		60
Total Other Expense, Net		(484	)		—			(116	)		(600	)		(146	)		—			(850	)		(996	)

Income (Loss) Before Provision for Income Taxes	$	(1,543	)	$	46		$	(599	)	$	(2,096	)	$	(432	)	$	28		$	(2,792	)	$	(3,196	)

Total Assets	$	44,233		$	458		$	390		$	45,081		$	26,388		$	574		$	11,716		$	38,678

	(in thousands)
	*Nine Months Ended September 30, 2025*												*Nine Months Ended September 30, 2024*
	*Cannabis*			*Cannabis*			*Corporate &*						*Cannabis*			*Cannabis*			*Corporate &*
	*Retail*			*Distribution*			*Other*			*Total*			*Retail*			*Distribution*			*Other*			*Total*
Total Revenues	$	10,328		$	237		$	—		$	10,565		$	9,793		$	140		$	—		$	9,933
Cost of Goods Sold		5,220			143			—			5,363			4,815			280			—			5,095
Gross Profit		5,108			94			—			5,202			4,978			(140	)		—			4,838
Gross Profit %		49.5	%		39.7	%								50.8	%		(100.0	)%

Selling, General & Administrative Expenses		6,830			61			1,918			8,809			6,490			229			8,120			14,839
Impairment Expense		—			—			—			—			—			—			1,709			1,709
(Gain) Loss on Disposal of Assets		—			—			—			—			206			(40	)		327			493
Income (Loss) from Operations		(1,722	)		33			(1,918	)		(3,607	)		(1,718	)		(329	)		(10,156	)		(12,203	)

Other Income (Expense):
Interest Expense		(1,025	)		—			(13	)		(1,038	)		(556	)		—			(1,236	)		(1,792	)
Gain (Loss) on Extinguishment of Debt		—			—			(174	)		(174	)		—			—			15,182			15,182
Change in Fair Value of Derivative Liability		—			—			191			191			—			—			(680	)		(680	)
Unrealized Gain on Investments		—			—			—			—			—			—			167			167
Other Income		2			—			657			659			207			—			1			208
Total Other Income (Expense), Net		(1,023	)		—			661			(362	)		(349	)		—			13,434			13,085

Income (Loss) Before Provision for Income Taxes	$	(2,745	)	$	33		$	(1,257	)	$	(3,969	)	$	(2,067	)	$	(329	)	$	3,278		$	882

Total Assets	$	44,233		$	458		$	390		$	45,081		$	26,388		$	574		$	11,716		$	38,678