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SEGMENTED INFORMATION
 3 Months Ended
Mar. 31, 2023
SEGMENTED INFORMATION  
Segmented Information

17. SEGMENTED INFORMATION

 

The Company reports its financial results for the following three operating segments, which are also its reportable segments: commercial and wholesale (primarily FGH and Cosechemos subsidiaries), house of brands (primarily JustCBD, Vessel and Kasa Wholefoods Company subsidiaries), and pharmaceuticals (primarily Grupo Farmaceutico Cronomed and Breeze Laboratory subsidiaries). These segments reflect how the Company’s operations are managed, how the Company Chief Executive Officer, who is the chief operating decision maker, allocates resources and evaluates performance, and how the Company’s internal management financial reporting is structured.

 

The Company’s operates its manufacturing and distribution business its United States, Germany, and Colombia subsidiaries. The Company also is engaged in the growth, cultivation, and development of medicinal cannabis and medicinal cannabis derivative products through its Colombia Cosechemos subsidiary. Management has defined the reportable segments of the Company based on this internal business unit reporting, which is by major product line, and aggregates similar businesses into the house of brands segment below. The Corporate segment reflects balances and expenses that do not directly influence business unit operations.

 

Information regarding the Company’s segments is summarized as follows:

 

 

 

For the three months ended

 

 

For the three months ended

 

 

 

March 31, 2023

 

 

March 31, 2022

 

Net Sales

 

 

 

 

 

 

Commercial & Wholesale

 

$7,956

 

 

$4

 

House of Brands

 

 

14,199

 

 

 

5,063

 

Pharmaceuticals

 

 

356

 

 

 

661

 

Eliminations

 

 

(2,404)

 

 

(782)

 

 

$20,107

 

 

$4,946

 

 

 

 

 

 

 

 

 

 

Net Loss

 

 

 

 

 

 

 

 

Commercial & Wholesale

 

$(389)

 

$(369)

House of Brands

 

 

(347)

 

 

(1,110)

Pharmaceuticals

 

 

(248)

 

 

(28)

Corp & Eliminations

 

 

(2,921)

 

 

(6,123)

 

 

$(3,905)

 

$(7,630)

 

 

 

 

 

 

 

 

 

As at

 

March 31, 2023

 

 

December 31, 2022

 

Assets

 

 

 

 

 

 

 

 

Commercial & Wholesale

 

$21,876

 

 

$22,225

 

House of Brands

 

 

48,827

 

 

 

48,950

 

Pharmaceuticals

 

 

3,380

 

 

 

3,313

 

Corp & Eliminations

 

 

2,957

 

 

 

6,499

 

 

 

$77,040

 

 

$80,987

 

Disaggregation of net sales by geographic area:

 

 

 

For the three months ended

 

 

For the three months ended

 

 

 

March 31, 2023

 

 

March 31, 2022

 

Net Sales

 

 

 

 

 

 

United States

 

$11,014

 

 

$4,168

 

Germany

 

 

7,958

 

 

 

-

 

Colombia

 

 

773

 

 

 

643

 

United Kingdom

 

 

362

 

 

 

135

 

 

 

$20,107

 

 

$4,946