XML 26 R18.htm IDEA: XBRL DOCUMENT v3.24.3
Segment and Geographic Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment and Geographic Information

10. 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, assesses performance and allocates resources.

As of September 30, 2024, the Company’s four segments are as follows:

Segment

 

Description

Produce

 

The Produce segment produces, markets, and sells premium quality tomatoes, bell peppers and cucumbers.

Cannabis – Canada

 

The Cannabis – Canada segment produces and supplies cannabis products to be sold to other licensed providers and provincial governments across Canada and internationally.

Cannabis – United States

 

The Cannabis – United States segment develops and sells high-quality, CBD-based health and wellness products including ingestible, edible and topical applications.

Energy

 

The Energy business receives a royalty from a renewable natural gas facility that is located in Delta, B.C.

The Company’s primary operations are in the United States and Canada. Segment information is summarized below:

 

Three months ended September 30,

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Sales

 

 

 

 

 

 

 

 

 

 

 

Produce

$

42,770

 

 

$

35,712

 

 

$

125,883

 

 

$

114,125

 

Cannabis - Canada

 

36,463

 

 

 

28,810

 

 

 

114,654

 

 

 

81,987

 

Cannabis - United States

 

3,943

 

 

 

4,988

 

 

 

12,777

 

 

 

15,266

 

Energy

 

192

 

 

 

—

 

 

 

313

 

 

 

—

 

$

83,368

 

 

$

69,510

 

 

$

253,627

 

 

$

211,378

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

Produce

$

3,481

 

 

$

1,492

 

 

$

2,627

 

 

$

(654

)

Cannabis - Canada

 

9,599

 

 

 

9,944

 

 

 

29,812

 

 

 

29,114

 

Cannabis - United States

 

2,500

 

 

 

3,185

 

 

 

7,824

 

 

 

9,981

 

Energy

 

128

 

 

 

—

 

 

 

206

 

 

 

(21

)

$

15,708

 

 

$

14,621

 

 

$

40,469

 

 

$

38,420

 

 

Income (loss) before taxes

 

 

 

 

 

 

 

 

 

 

 

Produce

$

403

 

 

$

(1,172

)

 

$

(7,787

)

 

$

(4,497

)

Cannabis - Canada

 

1,600

 

 

 

1,918

 

 

 

4,689

 

 

 

5,003

 

Cannabis - United States

 

(192

)

 

 

79

 

 

 

(13,173

)

 

 

(125

)

Energy

 

297

 

 

 

(58

)

 

 

338

 

 

 

(128

)

 

$

2,108

 

 

$

767

 

 

$

(15,933

)

 

$

253

 

A reconciliation of the Company’s segment Income (loss) before taxes to the Condensed Consolidated Statements of Operations is summarized below:

 

Three months ended September 30,

 

 

Nine Months Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Segment operating income

$

2,108

 

 

$

767

 

 

$

(15,933

)

 

$

253

 

Other corporate expenses, net

 

(2,764

)

 

 

(3,684

)

 

 

(10,380

)

 

 

(9,293

)

Total income (loss) before taxes

$

(656

)

 

$

(2,917

)

 

$

(26,313

)

 

$

(9,040

)