| Summary of Reportable Segments |
Reportable Segments
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Year Ended December 31, |
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2024 |
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2023 |
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(Adjusted) |
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Revenues, net of discounts |
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Eastern Region(1) |
$ |
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128,553 |
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$ |
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105,922 |
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Western Region(2) |
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39,014 |
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53,088 |
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Other(3) |
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— |
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227 |
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Total |
$ |
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167,567 |
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$ |
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159,237 |
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Gross profit (loss) |
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Eastern Region |
$ |
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60,219 |
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$ |
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43,839 |
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Western Region |
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14,895 |
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19,609 |
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Other |
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— |
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(279 |
) |
Total |
$ |
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75,114 |
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$ |
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63,169 |
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Operating expenses: |
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Selling, general and administrative expenses |
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Eastern Region |
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34,555 |
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33,957 |
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Western Region |
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8,360 |
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11,172 |
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Other |
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19,267 |
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22,734 |
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Total |
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62,182 |
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67,863 |
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Depreciation and amortization |
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Eastern Region |
$ |
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15,186 |
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$ |
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17,306 |
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Western Region |
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7,033 |
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7,339 |
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Other |
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462 |
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498 |
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Total |
$ |
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22,681 |
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$ |
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25,143 |
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(Recoveries), write-downs and other charges, net |
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Eastern Region |
$ |
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(1,985 |
) |
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$ |
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(454 |
) |
Western Region |
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429 |
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(4 |
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Other |
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320 |
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356 |
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Total |
$ |
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(1,236 |
) |
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$ |
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(102 |
) |
Profit (loss) from operations |
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Eastern Region |
$ |
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12,463 |
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$ |
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(6,971 |
) |
Western Region |
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(927 |
) |
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1,103 |
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Other |
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(20,049 |
) |
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(23,867 |
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Total |
$ |
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(8,513 |
) |
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$ |
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(29,735 |
) |
Other income and expenses, net: |
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Eastern Region |
$ |
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(868 |
) |
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$ |
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(2,308 |
) |
Western Region |
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(3,307 |
) |
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(256 |
) |
Other |
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(12,626 |
) |
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(17,159 |
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Total |
$ |
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(16,801 |
) |
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$ |
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(19,723 |
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Income tax (benefit) expense |
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Eastern Region |
$ |
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10,440 |
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$ |
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11,674 |
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Western Region |
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8,513 |
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3,373 |
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Other |
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(36,631 |
) |
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12,116 |
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Total |
$ |
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(17,678 |
) |
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$ |
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27,163 |
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Net loss |
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Eastern Region |
$ |
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1,157 |
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$ |
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(29,332 |
) |
Western Region |
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(12,749 |
) |
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(3,200 |
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Other |
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3,956 |
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(44,089 |
) |
Total |
$ |
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(7,636 |
) |
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$ |
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(76,621 |
) |
(1)
Eastern region no longer includes Vermont operations as results were deconsolidated as of March 8, 2023.
(2)
Western region no longer includes Nevada operations as results were deconsolidated as of June 24, 2024.
(3)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 nor does it meet the qualitative criteria for aggregation with the Company’s reportable segments. The Company has deconsolidated results from its CBD operations as of May 8, 2023.
Supplemental Segment Disclosures:
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Year Ended December 31, |
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2024 |
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2023 |
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Purchase of property, plant and equipment |
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Eastern Region |
$ |
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5,232 |
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$ |
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3,373 |
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Western Region |
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189 |
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192 |
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Other |
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98 |
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7 |
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Total |
$ |
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5,519 |
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$ |
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3,572 |
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Purchase of other intangible assets |
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Eastern Region |
$ |
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20 |
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$ |
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2,489 |
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Other |
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|
185 |
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15 |
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Total |
$ |
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205 |
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|
$ |
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2,504 |
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As of December 31, |
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As of December 31, |
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2024 |
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2023 |
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Assets |
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Eastern Region |
$ |
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212,007 |
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$ |
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215,743 |
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Western Region |
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40,124 |
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51,148 |
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Other |
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18,912 |
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10,516 |
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Total |
$ |
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271,043 |
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$ |
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277,407 |
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