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Segment reporting
 12 Months Ended
May 31, 2021
Segment Reporting [Abstract]  
Segment reporting

32.

Segment reporting

Information reported to the Chief Operating Decision Maker (“CODM”) for the purpose of resource allocation and assessment of segment performance focuses on the nature of the operations. The Company operates in five segments. 1) cannabis operations, which encompasses the production, distribution and sale of both medical and adult-use cannabis, 2) beverage alcohol operations, which encompasses cultivation, distribution and sale of beverage alcohol products, 3) distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers, 4) wellness products, which encompasses hemp foods and cannabidiol (“CBD”) products and 5) businesses under development which encompass operations in which the Company has not received final licensing or has not commenced commercial sales from operations. Factors considered in determining the operating segments include the Company’s business activities, the management structure directly accountable to the CODM, availability of discrete financial information and strategic priorities within the organizational structure. Operating segments have not been aggregated and no asset information is provided for the segments because the Company’s CODM does not receive asset information by segment on a regular basis.

Segment net revenue from external customers:

 

 

 

For the year ended May 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Cannabis business

 

$

201,392

 

 

$

129,896

 

 

$

59,876

 

Distribution business

 

 

277,300

 

 

 

275,430

 

 

 

119,427

 

Beverage alcohol business

 

 

28,599

 

 

 

—

 

 

 

—

 

Wellness business

 

 

5,794

 

 

 

—

 

 

 

—

 

Business under development

 

 

—

 

 

 

—

 

 

 

—

 

Total net revenue

 

$

513,085

 

 

$

405,326

 

 

$

179,303

 

 

Channels of Cannabis revenue were as follows:

 

 

 

For the year ended May 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Revenue from medical cannabis products

 

$

25,539

 

 

$

28,685

 

 

$

33,017

 

Revenue from adult-use cannabis products

 

 

222,930

 

 

 

112,207

 

 

 

30,236

 

Revenue from wholesale cannabis products

 

 

6,615

 

 

 

12,585

 

 

 

4,339

 

Revenue from international cannabis products

 

 

9,250

 

 

 

—

 

 

 

—

 

Less excise tax

 

 

(62,942

)

 

 

(23,581

)

 

 

(7,716

)

Total net cannabis revenue

 

$

201,392

 

 

$

129,896

 

 

$

59,876

 

 

 

Geographic net revenue:

 

 

 

For the year ended May 31,

 

 

 

2021

 

 

2020

 

 

2019

 

North America

 

$

229,120

 

 

$

129,663

 

 

$

59,629

 

EMEA

 

 

279,062

 

 

 

271,291

 

 

 

116,578

 

Latin America

 

 

4,903

 

 

 

4,372

 

 

 

3,096

 

Total net revenue

 

$

513,085

 

 

$

405,326

 

 

$

179,303

 

 

Geographic capital assets:

 

 

 

May 31, 2021

 

 

May 31, 2020

 

North America

 

 

504,575

 

 

$

371,823

 

EMEA

 

 

140,838

 

 

 

44,348

 

Latin America

 

 

5,285

 

 

 

4,535

 

Total capital assets

 

$

650,698

 

 

$

420,706

 

 

Major customers are defined as customers that each individually account for greater than 10% of the Company’s annual revenues. For the years ended May 31, 2021, 2020, and 2019 there were no major customers representing greater than 10% of our annual revenues.