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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment and Geographic Information

14. SEGMENT AND GEOGRAPHIC INFORMATION

Segment reporting is prepared on the same basis that the Company’s Chief Executive Officer, who is the Company’s Chief Operating Decision Maker, manages the business, makes operating decisions and assesses performance. Management has determined that the Company operates in four segments. The Company’s four segments include Produce, Cannabis-Canada, Cannabis-U.S. and Energy. The Produce segment produces, markets and sells premium quality tomatoes, bell peppers and

cucumbers. The Cannabis-Canada segment produces and supplies cannabis products to be sold to other licensed providers and provincial governments across Canada and internationally. The Cannabis-U.S. segment develops and sells high-quality, CBD-based health and wellness products including ingestible, edible and topical applications. The Energy business produces power that it sells pursuant to a long-term contract to its one customer.

For years ended December 31, 2023, 2022 and 2021, approximately 54%, 51% and 48%, respectively, of the Company’s total sales were in the United States. In 2023, the Company had one customer that individually represented more than 10% of total sales, comprising of 11.9%. In 2022, the Company had one customer that individually represented more than 10% of total sales, comprising of 14.6%. In 2021, the Company had two customers that individually represented more than 10% of its sales, comprising of 20.1% and 10.6% of sales, respectively.

As of December 31, 2023, the Company’s trade receivables had two customers that represented more than 10% of the balance of trade receivables, representing 21.1% and 10.2% of the balance, respectively. As of December 31, 2022, the Company’s trade receivables had one customer that represented more than 10% of the balance of trade receivables, representing 19.1% of the balance. As of December 31, 2021, the Company’s trade receivables had one customer that represented more than 10% of the balance of trade receivables, representing 29.0% of the balance.

The Company’s primary operations are in the United States and Canada. Segment information as of and for the years ended December 31, 2023, 2022 and 2021:

 

 

 

2023

 

 

2022

 

 

2021

 

Sales

 

 

 

 

 

 

 

 

 

Produce

 

$

151,243

 

 

$

160,252

 

 

$

159,778

 

Cannabis – Canada

 

 

114,030

 

 

 

109,882

 

 

 

96,434

 

Cannabis – United States

 

 

20,330

 

 

 

23,302

 

 

 

11,345

 

Energy

 

 

—

 

 

 

136

 

 

 

463

 

 

$

285,603

 

 

$

293,572

 

 

$

268,020

 

Interest expense

 

 

 

 

 

 

 

 

 

Produce

 

$

2,332

 

 

$

1,472

 

 

$

561

 

Cannabis – Canada

 

 

2,177

 

 

 

1,768

 

 

 

2,236

 

Cannabis – United States

 

 

—

 

 

 

—

 

 

 

1

 

Energy

 

 

—

 

 

 

4

 

 

 

37

 

 

$

4,509

 

 

$

3,244

 

 

$

2,835

 

Interest income

 

 

 

 

 

 

 

 

 

Corporate

 

$

837

 

 

$

196

 

 

$

117

 

Cannabis – Canada

 

 

157

 

 

 

11

 

 

 

9

 

Cannabis – United States

 

 

24

 

 

 

—

 

 

 

—

 

 

$

1,018

 

 

$

207

 

 

$

126

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

Produce

 

$

5,386

 

 

$

5,044

 

 

$

5,238

 

Cannabis – Canada

 

 

9,124

 

 

 

7,445

 

 

 

5,875

 

Cannabis – United States

 

 

335

 

 

 

565

 

 

 

299

 

Energy

 

 

—

 

 

 

—

 

 

 

1,297

 

Cannabis – Netherlands

 

 

1,081

 

 

 

—

 

 

 

—

 

 

$

15,926

 

 

$

13,054

 

 

$

12,709

 

Gross margin

 

 

 

 

 

 

 

 

 

Produce

 

$

179

 

 

$

(17,382

)

 

$

1,474

 

Cannabis – Canada

 

 

35,940

 

 

 

29,388

 

 

 

37,209

 

Cannabis – United States

 

 

13,328

 

 

 

15,659

 

 

 

7,947

 

Energy

 

 

(21

)

 

 

(168

)

 

 

(1,451

)

 

$

49,426

 

 

$

27,497

 

 

$

45,179

 

 

 

Total assets

 

2023

 

 

2022

 

United States

 

$

103,345

 

 

$

113,497

 

Canada

 

 

357,499

 

 

 

346,126

 

Netherlands

 

 

6,145

 

 

 

5,662

 

 

$

466,989

 

 

$

465,285

 

 

 

 

 

 

 

 

Property, plant and equipment, net

 

2023

 

 

2022

 

United States

 

$

37,847

 

 

$

37,780

 

Canada

 

 

166,762

 

 

 

169,921

 

Netherlands

 

 

1,004

 

 

 

—

 

 

$

205,613

 

 

$

207,701