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SEGMENTS
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENTS
The Company conducts and manages its business through two reportable segments, representing the major lines of its cannabis business: cultivation (wholesale) and retail. The cultivation (wholesale) segment consists of the cultivation, production and sale of cannabis products to retail stores. The retail segment consists of the retailing of cannabis to patients and consumers.
The accounting policies used in the segment reporting are the same as those described in Note 2 - Significant Accounting Policies within the 2024 Annual Audited Financials on Form 10-K. The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The CODM utilizes each segment’s Adjusted EBITDA as the key indicator in assessing the segment’s performance and allocating resources. Segment-level Adjusted EBITDA includes intersegment revenues which consist primarily of sales of finished goods product from the wholesale (cultivation) to retail segment. Intersegment transactions are eliminated in consolidation. The elimination of such intersegment transactions is included in All Other in the table below. Additionally, we do not allocate certain shared expenses such as accounting, human resources, certain information technology and legal to our reportable segments. We include these expenses in All Other in the table below. The All Other column in the table below also includes unallocated corporate functions and expenses. Certain prior year line items have been adjusted and our allocation methodology is periodically evaluated and may change.
Within the tables below the Other Segment Items for each segment primarily consists of certain selling, general, and administrative expenses and other operational costs. Summarized financial information for the Company's reportable segments consisted of the following:
For the Three Months Ended June 30, 2025
RetailWholesaleAll OtherTotal
Revenues, net of Discounts$169,098 $73,340 $(40,166)$202,272 
Cost of Goods Sold, net(87,932)(39,792)38,436 (89,288)
Other Segment Items(28,783)12,581 (30,629)(46,831)
Adjusted EBITDA$52,383 $46,129 $(32,359)$66,153 
Acquisition Adjustments and Other Income (Expense), net2,238 
Acquisition, Transaction and Other Non-operating Costs(3,355)
Employee Stock Compensation(3,339)
Interest Expense, net(14,207)
Depreciation and Amortization(31,488)
Income from operations before income taxes$16,002 
For the Three Months Ended June 30, 2024
RetailWholesaleAll OtherTotal
Revenues, net of Discounts$164,592 $92,471 $(34,673)$222,390 
Cost of Goods Sold, net(90,838)(49,574)32,362 (108,050)
Other Segment Items(28,516)10,474 (25,699)(43,741)
Adjusted EBITDA$45,238 $53,371 $(28,010)$70,599 
Acquisition Adjustments and Other Income (Expense), net(4,977)
Acquisition, Transaction and Other Non-operating Costs(2,570)
Employee Stock Compensation(4,316)
Interest Expense, net(14,237)
Depreciation and Amortization(35,733)
Income from operations before income taxes$8,766 
For the Six Months Ended June 30, 2025
RetailWholesaleAll OtherTotal
Revenues, net of Discounts$337,905 $152,901 $(78,725)$412,081 
Cost of Goods Sold, net(183,161)(92,400)76,045 (199,516)
Other Segment Items(55,579)25,843 (62,278)(92,014)
Adjusted EBITDA$99,165 $86,344 $(64,958)$120,551 
Acquisition Adjustments and Other Income (Expense), net5,881 
Acquisition, Transaction and Other Non-operating Costs(6,906)
Employee Stock Compensation(6,642)
Interest Expense, net(27,769)
Depreciation and Amortization(63,279)
Income from operations before income taxes$21,836 
For the Six Months Ended June 30, 2024
RetailWholesaleAll OtherTotal
Revenues, net of Discounts$333,180 $178,591 $(68,075)$443,696 
Cost of Goods Sold, net(183,701)(97,447)64,752 (216,396)
Other Segment Items(56,785)21,636 (55,005)(90,154)
Adjusted EBITDA$92,694 $102,780 $(58,328)$137,146 
Acquisition Adjustments and Other Income (Expense), net(6,799)
Acquisition, Transaction and Other Non-operating Costs(6,046)
Employee Stock Compensation(8,244)
Interest Expense, net(29,351)
Depreciation and Amortization(71,285)
Income from operations before income taxes$15,421