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Segment Information
 3 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

24. SEGMENT INFORMATION

Reportable segments

The Company reports its financial results for the following two reportable segments:

•
Cannabis - includes the global production, distribution and sale of a diverse range of cannabis and cannabis-related products. Sales in Canada are pursuant to the Cannabis Act, while international sales are pursuant to applicable international legislation, regulations and permits; and
•
Storz & Bickel - includes the production, distribution and sale of vaporizers and accessories.

These segments reflect how the Company’s operations are managed, how the Company’s Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), allocates resources and evaluates performance, and how the Company’s internal management financial reporting is structured. The Company’s CODM evaluates the performance of these segments, with a focus on (i) segment net revenue, and (ii) segment gross margin as the measure of segment profit or loss. Accordingly, information regarding segment net revenue and segment gross margin for the comparative periods has been restated to reflect the aforementioned change in reportable segments.

 

 

Three months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

Segmented net revenue

 

 

 

 

 

 

Cannabis

 

$

65,085

 

 

$

56,982

 

Storz & Bickel

 

 

16,080

 

 

 

15,152

 

 

 

$

81,165

 

 

$

72,134

 

Segmented gross margin:

 

 

 

 

 

 

Cannabis

 

$

14,457

 

 

$

13,591

 

Storz & Bickel

 

 

7,781

 

 

 

4,447

 

 

 

 

22,238

 

 

 

18,038

 

Selling, general and administrative expenses

 

 

40,223

 

 

 

38,108

 

Share-based compensation

 

 

1,359

 

 

 

(99

)

Loss on asset impairment and restructuring

 

 

2,766

 

 

 

2,653

 

Operating loss

 

 

(22,110

)

 

 

(22,624

)

Other income (expense), net

 

 

7,402

 

 

 

(21,946

)

Loss before incomes taxes

 

$

(14,708

)

 

$

(44,570

)

Asset information by segment is not provided to, or reviewed by, the Company’s CODM as it is not used to make strategic decisions, allocate resources, or assess performance.

Entity-wide disclosures

Disaggregation of net revenue by geographic area:

 

 

Three months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

Canada

 

$

54,940

 

 

$

48,228

 

Germany

 

 

17,590

 

 

 

14,381

 

United States

 

 

6,229

 

 

 

5,972

 

Other

 

 

2,406

 

 

 

3,553

 

 

 

$

81,165

 

 

$

72,134

 

Disaggregation of property, plant and equipment by geographic area:

 

 

June 30,

 

 

March 31,

 

 

 

2026

 

 

2026

 

Canada

 

$

260,674

 

 

$

265,362

 

Germany

 

 

49,896

 

 

 

50,406

 

Other

 

 

633

 

 

 

726

 

 

 

$

311,203

 

 

$

316,494

 

For the three months ended June 30, 2026, two customers represented greater than 10% of the Company’s net revenue (three months ended June 30, 2025 – one).