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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Schedule of Segment Data and Adjusted EBITDA | Segment data was as follows for the year ended December 31, 2020:
|  | United States |  | Rest of World |  | Corporate |  | Total
Consolidated statements of net income (loss) and comprehensive income (loss) |  |  |  |  |  |  |  |
Net revenue |  |  |  |  |  |  |  |
Cannabis flower |  | $ | — |  |  | $ | 27,932 |  |  | $ | — |  |  | $ | 27,932 |
Cannabis extracts |  | 9,495 |  |  | 8,759 |  |  | — |  |  | 18,254 |
Other |  | — |  |  | 533 |  |  | — |  |  | 533 |
Net revenue |  | 9,495 |  |  | 37,224 |  |  | — |  |  | 46,719 |
Share of loss from equity accounted investees |  | — |  |  | (4,510) |  |  | — |  |  | (4,510) |
Interest revenue |  | 16 |  |  | 18,585 |  |  | — |  |  | 18,601 |
Interest expense |  | (34) |  |  | (152) |  |  | — |  |  | (186) |
Interest income (expense), net |  | (18) |  |  | 18,433 |  |  | — |  |  | 18,415 |
Depreciation and amortization |  | 234 |  |  | 2,638 |  |  | — |  |  | 2,872 |
Income tax expense |  | 323 |  |  | 1,024 |  |  | — |  |  | 1,347 |
Loss from discontinued operations |  | — |  |  | (650) |  |  | — |  |  | (650) |
Adjusted EBITDA |  | (28,019) |  |  | (98,349) |  |  | (20,885) |  |  | (147,253) |
Consolidated balance sheets |  |  |  |  |  |  |  |
Total assets |  | 253,745 |  |  | 388,351 |  |  | 1,283,586 |  |  | 1,925,682 |
Investments in equity accounted investees |  | — |  |  | 19,235 |  |  | — |  |  | 19,235 |
Goodwill |  | 178,414 |  |  | 1,108 |  |  | — |  |  | 179,522 |
Purchase of property, plant and equipment |  | 385 |  |  | 31,027 |  |  | — |  |  | 31,412 |
Segment data was as follows for the year ended December 31, 2019:
|  | United States |  | Rest of World |  | Corporate |  | Total
Consolidated statements of net income (loss) and comprehensive income (loss) |  |  |  |  |  |  |  |
Net revenue |  |  |  |  |  |  |  |
Cannabis flower |  | $ | — |  |  | $ | 15,020 |  |  | $ | — |  |  | $ | 15,020 |
Cannabis extracts |  | 3,364 |  |  | 5,338 |  |  | — |  |  | 8,702 |
Other |  | — |  |  | 28 |  |  | — |  |  | 28 |
Net revenue |  | 3,364 |  |  | 20,386 |  |  | — |  |  | 23,750 |
Share of loss from equity accounted investees |  | — |  |  | (2,009) |  |  | — |  |  | (2,009) |
Interest revenue |  | 6 |  |  | 29,207 |  |  | — |  |  | 29,213 |
Interest expense |  | — |  |  | (1,244) |  |  | — |  |  | (1,244) |
Interest income, net |  | 6 |  |  | 27,963 |  |  | — |  |  | 27,969 |
Depreciation and amortization |  | 46 |  |  | 2,044 |  |  | — |  |  | 2,090 |
Income tax expense |  | — |  |  | — |  |  | — |  |  | — |
Loss from discontinued operations |  | — |  |  | (363) |  |  | — |  |  | (363) |
Adjusted EBITDA |  | (1,703) |  |  | (84,826) |  |  | (11,779) |  |  | (98,308) |
Consolidated balance sheets |  |  |  |  |  |  |  |
Total assets |  | 293,985 |  |  | 309,854 |  |  | 1,486,603 |  |  | 2,090,442 |
Investments in equity accounted investees |  | — |  |  | 557 |  |  | — |  |  | 557 |
Goodwill |  | 213,414 |  |  | 1,078 |  |  | — |  |  | 214,492 |
Purchase of property, plant and equipment |  | 259 |  |  | 38,405 |  |  | — |  |  | 38,664 |
Segment data was as follows for the year ended December 31, 2018:
|  | United States |  | Rest of World |  | Corporate |  | Total
Consolidated statements of net income (loss) and comprehensive income (loss) |  |  |  |  |  |  |  |
Net revenue |  |  |  |  |  |  |  |
Cannabis flower |  | $ | — |  |  | $ | 9,210 |  |  | $ | — |  |  | $ | 9,210 |
Cannabis extracts |  | — |  |  | 2,732 |  |  | — |  |  | 2,732 |
Other |  | — |  |  | 179 |  |  | — |  |  | 179 |
Net revenue |  | — |  |  | 12,121 |  |  | — |  |  | 12,121 |
Share of loss from equity accounted investees |  | — |  |  | (723) |  |  | — |  |  | (723) |
Interest revenue |  | — |  |  | 220 |  |  | — |  |  | 220 |
Interest expense |  | — |  |  | (139) |  |  | — |  |  | (139) |
Interest income, net |  | — |  |  | 81 |  |  | — |  |  | 81 |
Depreciation and amortization |  | — |  |  | 807 |  |  | — |  |  | 807 |
Income tax expense |  | — |  |  | — |  |  | — |  |  | — |
Loss from discontinued operations |  | — |  |  | (894) |  |  | — |  |  | (894) |
Adjusted EBITDA |  | — |  |  | (10,357) |  |  | — |  |  | (10,357) |
Consolidated balance sheets |  |  |  |  |  |  |  |
Total assets |  | — |  |  | 183,471 |  |  | — |  |  | 183,471 |
Investments in equity accounted investees |  | — |  |  | 2,960 |  |  | — |  |  | 2,960 |
Goodwill |  | — |  |  | 1,314 |  |  | — |  |  | 1,314 |
Purchase of property, plant and equipment |  | — |  |  | 88,308 |  |  | — |  |  | 88,308 |
Adjusted EBITDA is reconciled to net income (loss) as follows for the years ended December 31, 2020, 2019 and 2018:
(in thousands of U.S. dollars) |  | Year ended December 31, 2020
|  | US |  | ROW |  | Corporate Expenses |  | Total
Net income (loss) |  | $ | (77,368) |  |  | $ | 32,671 |  |  | $ | (30,573) |  |  | $ | (75,270) |
Adjustments |  |  |  |  |  |  |  |
Interest expense (income), net |  | 18 |  |  | (18,433) |  |  | — |  |  | (18,415) |
Income tax expense |  | 323 |  |  | 1,024 |  |  | — |  |  | 1,347 |
Impairment loss on goodwill and intangible assets |  | 40,000 |  |  | — |  |  | — |  |  | 40,000 |
Financing and transaction costs |  | 40 |  |  | — |  |  | — |  |  | 40 |
Gain on revaluation of derivative liabilities |  | — |  |  | (129,254) |  |  | — |  |  | (129,254) |
Gain on disposal of other investments |  | — |  |  | (4,789) |  |  | — |  |  | (4,789) |
Share of loss from equity accounted investees |  | — |  |  | 4,510 |  |  | — |  |  | 4,510 |
Loss from discontinued operations |  | — |  |  | 650 |  |  | — |  |  | 650 |
Other loss (income) |  | 20 |  |  | 1,814 |  |  | — |  |  | 1,834 |
Review costs related to restatement of 2019 interim financial statements |  | — |  |  | — |  |  | 9,688 |  |  | 9,688 |
Share-based payments |  | 8,714 |  |  | 6,647 |  |  | — |  |  | 15,361 |
Adjusted EBIT |  | (28,253) |  |  | (105,160) |  |  | (20,885) |  |  | (154,298) |
Adjustments |  |  |  |  |  |  |  |
Depreciation and amortization |  | 234 |  |  | 6,811 |  |  | — |  |  | 7,045 |
Adjusted EBITDA |  | (28,019) |  |  | (98,349) |  |  | (20,885) |  |  | (147,253) |
(in thousands of U.S. dollars) |  | Year ended December 31, 2019
|  | US |  | ROW |  | Corporate Expenses |  | Total
Net income (loss) |  | $ | (3,070) |  |  | $ | 1,180,241 |  |  | $ | (11,597) |  |  | $ | 1,165,574 |
Adjustments |  |  |  |  |  |  |  |
Interest income, net |  | (6) |  |  | (27,963) |  |  | — |  |  | (27,969) |
Impairment loss on goodwill and intangible assets |  | — |  |  | — |  |  | — |  |  | — |
Repurposing charges |  | — |  |  | 7,268 |  |  | — |  |  | 7,268 |
Financing and transaction costs |  | 117 |  |  | 32,091 |  |  | — |  |  | 32,208 |
Gain on revaluation of derivative liabilities |  | — |  |  | (1,276,819) |  |  | — |  |  | (1,276,819) |
Gain on disposal of other investments |  | — |  |  | (16,277) |  |  | — |  |  | (16,277) |
Share of loss from equity accounted investees |  | — |  |  | 2,009 |  |  | — |  |  | 2,009 |
Loss from discontinued operations |  | — |  |  | 363 |  |  | — |  |  | 363 |
Other loss (income) |  | 182 |  |  | (197) |  |  | (182) |  |  | (197) |
Share-based payments |  | 900 |  |  | 10,719 |  |  | — |  |  | 11,619 |
Adjusted EBIT |  | (1,877) |  |  | (88,565) |  |  | (11,779) |  |  | (102,221) |
Adjustments |  |  |  |  |  |  |  |
Depreciation and amortization |  | 174 |  |  | 3,739 |  |  | — |  |  | 3,913 |
Adjusted EBITDA |  | $ | (1,703) |  |  | $ | (84,826) |  |  | $ | (11,779) |  |  | $ | (98,308) |
(in thousands of U.S. dollars) |  |  | Year ended December 31, 2018
Net income (loss) |  |  |  |  | $ | (21,817) |
Adjustments |  |  |  |  |
Interest income, net |  |  |  |  | (81) |
Loss (gain) on disposal of other investments |  |  |  |  | (164) |
Share of loss (income) from equity accounted investees |  |  |  |  | 723 |
Loss from discontinued operations |  |  |  |  | 894 |
Share-based payments |  |  |  |  | 8,151 |
Adjusted EBIT |  |  |  |  | (12,294) |
Adjustments |  |  |  |  |
Depreciation and amortization |  |  |  |  | 1,937 |
Adjusted EBITDA |  |  |  |  | $ | (10,357) |
Sources of net revenue were as follows:
| Year ended December 31,
| 2020 |  | 2019
Cannabis flower | $ | 27,932 |  |  | $ | 15,020 |
Cannabis extracts | 18,254 |  |  | 8,702 |
Other | 533 |  |  | 28 |
Net revenue | $ | 46,719 |  |  | $ | 23,750 |
Schedule of Revenue from External Customers by Geographic Areas | Net revenue attributed to a geographic region based on the location of the customer were as follows:
| Year ended December 31,
| 2020 |  | 2019 |  |
Canada | $ | 34,538 |  |  | $ | 20,202 |  |  |
United States | 9,495 |  |  | 3,364 |  |  |
Other countries | 2,686 |  |  | 184 |  |  |
Total | $ | 46,719 |  |  | $ | 23,750 |  |  |
Schedule of Long-lived Assets by Geographic Areas | Property, plant and equipment assets were physically located in the following geographic regions:
| As of December 31,
| 2020 |  | 2019
Canada | $ | 162,163 |  |  | $ | 139,160 |
United States | 2,293 |  |  | 2,103 |
Other countries | 23,143 |  |  | 18,685 |
Total | $ | 187,599 |  |  | $ | 159,948 |

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