Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.1
Segment Information
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information
Note 7 - Segment Information
The below table presents revenues by type for the three months ended March 31, 2021 and 2020:
Reportable Segments
 
 
  
For the Three Months Ended

March 31,
 
 
  
2021
 
  
2020
 
Revenues
  
      
  
      
Eastern Region
  
$
33,056
 
  
$
18,049
 
Western Region
  
 
18,302
 
  
 
11,725
 
Other
(1)
  
 
447
 
  
 
652
 
 
  
 
 
 
  
 
 
 
Total
  
$
51,805
 
  
$
30,426
 
 
  
 
 
 
  
 
 
 
Gross profit
  
      
  
      
Eastern Region
  
 
21,162
 
  
$
10,761
 
Western Region
  
 
8,580
 
  
 
4,761
 
Other
  
 
(21
) 
  
 
(70
) 
 
  
 
 
 
  
 
 
 
Total
  
$
29,721
 
  
$
15,452
 
 
  
 
 
 
  
 
 
 
Depreciation and amortization
  
      
  
      
Eastern Region
  
$
6,178
 
  
$
5,519
 
Western Region
  
 
838
 
  
 
590
 
Other
  
 
358
 
  
 
305
 
 
  
 
 
 
  
 
 
 
Total
  
$
7,374
 
  
$
6,414
 
 
  
 
 
 
  
 
 
 
Asset impairments and write-downs
  
      
  
      
Eastern Region
  
$
259
 
  
$
196,844
 
Western Region
  
 
—  
 
  
 
252
 
Other
  
 
—  
 
  
 
2,947
 
 
  
 
 
 
  
 
 
 
Total
  
$
259
 
  
$
200,043
 
 
  
 
 
 
  
 
 
 
Purchase of property, plant and equipment
  
      
  
      
Eastern Region
  
$
4,745
 
  
$
9,621
 
Western Region
  
 
3
 
  
 
388
 
Other
  
 
4
 
  
 
21
 
 
  
 
 
 
  
 
 
 
Total
  
$
4,752
 
  
$
10,030
 
 
  
 
 
 
  
 
 
 
Purchase of intangibles
  
      
  
      
Eastern Region
  
$
—  
 
  
$
218
 
Western Region
  
 
—  
 
  
 
74
 
Other
  
 
—  
 
  
 
—  
 
 
  
 
 
 
  
 
 
 
Total
  
$
—  
 
  
$
292
 
 
  
 
 
 
  
 
 
 
 
(1)
Revenues from segments below the quantitative thresholds are attributable to an operating segment of the Company that includes revenue from the sale of CBD products throughout the United States. This segment has never met any of the quantitative thresholds for determining reportable segments and nor does it meet the qualitative criteria for aggregation with the Company’s reportable segments.
 
 
  
    March 31,    
2021
 
  
December 31,
2020
 
 
  
 
 
  
(Revised)
 
Assets
  
      
  
      
Eastern Region
  
$
230,195
 
  
$
227,237
 
Western Region
  
 
109,356
 
  
 
109,039
 
Other
  
 
25,330
 
  
 
16,857
 
 
  
 
 
 
  
 
 
 
Total
  
$
364,881
 
  
$
353,133
 
 
  
 
 
 
  
 
 
 
 

 
Major Customers
Major customers are defined as customers that each individually accounted for greater than 10% of the Company’s annual revenues. For the three months ended March 31, 2021 and 2020, no sales were made to any one customer that represented in excess of 10% of total revenues.
Geographic Information
As of March 31, 2021 and December 31, 2020, substantially all of the Company’s assets were located in the United States and all of the Company’s revenues were earned in the United States.
Disaggregated Revenues
The Company disaggregates revenues into categories that depict how the nature, amount, timing and uncertainty of the revenues and cashflows are affected by economic factors. For the three months ended March 31, 2021, and 2020, the Company disaggregated its revenues as follows:
 
    
For the Three Months Ended March 31,
  
    
2021
     
2020
  
Revenue
                  
iAnthus branded products
    $ 31,182      $ 15,179  
Third party branded products
      15,207        10,458  
Wholesale/bulk/other products
      5,416        4,789  
    
 
 
     
 
 
  
Total
   
$
51,805
 
   
$
30,426