Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table presents the changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2025:


	Cannabis - Canada
Balance as of December 31, 2024	$	42,315
Foreign currency translation adjustment		53
Balance as of March 31, 2025	$	42,368

Intangible Assets

Intangible assets consisted of the following as of:


Classification	March 31, 2025			December 31, 2024
Licenses	$	17,456		$	17,196
Brand and trademarks*		3,274			12,520
Customer relationships		12,546			12,530
Computer software		963			2,029
Other*		144			144
Less: Accumulated amortization		(9,909	)		(10,064	)
Less: Impairments*		—			(9,250	)
Intangibles, net	$	24,474		$	25,105

* Includes indefinite-lived intangible assets

The expected future amortization expense for definite-lived intangible assets as of March 31, 2025 was as follows:


Fiscal period
Remainder of 2025	$	2,250
2026		3,050
2027		3,050
2028		1,795
2029		1,794
Thereafter		9,117
Intangibles, net	$	21,056

Amortization expense for intangibles for the three months ended March 31, 2025 and 2024 were $794 and $830, respectively.

Assessment for Indicators of Impairment

At the end of each reporting period, the Company assesses whether events or changes in circumstances have occurred that would indicate an impairment. The Company considers external and internal factors, including overall financial performance and relevant entity-specific factors, as part of this assessment.

During the three months ended March 31, 2025 and 2024, the Company considered qualitative factors in assessing for impairment indicators for the Company’s U.S. and Canadian Cannabis segments.

At March 31, 2025 and 2024, the Company concluded that no impairment indicators existed as no events or circumstances occurred that would, more likely than not, reduce the fair value of the reporting units to be below their carrying amounts.