| Summary of Reportable Segments |
The below table presents revenues by segment for the three months ended March 31, 2023 and 2022:
Reportable Segments
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2023 |
|
2022 |
Revenues |
|
|
|
|
|
|
Eastern Region |
|
$ |
22,011 |
|
$ |
24,785 |
Western Region |
|
|
14,565 |
|
|
17,716 |
Other(1) |
|
|
177 |
|
|
289 |
Total |
|
$ |
36,753 |
|
$ |
42,790 |
Gross profit (loss) |
|
|
|
|
|
|
Eastern Region |
|
$ |
10,621 |
|
$ |
16,068 |
Western Region |
|
|
5,172 |
|
|
6,411 |
Other |
|
|
(281) |
|
|
13 |
Total |
|
$ |
15,512 |
|
$ |
22,492 |
Depreciation and amortization |
|
|
|
|
|
|
Eastern Region |
|
$ |
4,472 |
|
$ |
5,258 |
Western Region |
|
|
1,853 |
|
|
3,013 |
Other |
|
|
129 |
|
|
135 |
Total |
|
$ |
6,454 |
|
$ |
8,406 |
(Recoveries), write-downs and other charges, net |
|
|
|
|
|
|
Eastern Region |
|
$ |
(1) |
|
$ |
69 |
Other |
|
|
517 |
|
|
(12) |
Total |
|
$ |
516 |
|
$ |
57 |
Net (loss) income |
|
|
|
|
|
|
Eastern Region |
|
$ |
(5,914) |
|
$ |
7,328 |
Western Region |
|
|
(440) |
|
|
(913) |
Other |
|
|
(12,241) |
|
|
(16,517) |
Total |
|
$ |
(18,595) |
|
$ |
(10,102) |
Purchase of property, plant and equipment |
|
|
|
|
|
|
Eastern Region |
|
$ |
989 |
|
$ |
1,219 |
Western Region |
|
|
10 |
|
|
351 |
Other |
|
|
3 |
|
|
3 |
Total |
|
$ |
1,002 |
|
$ |
1,573 |
Purchase of other intangible assets |
|
|
|
|
|
|
Other |
|
|
5 |
|
|
61 |
Total |
|
$ |
5 |
|
$ |
61 |
(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 nor does it meet the qualitative criteria for aggregation with the Company’s reportable segments.
|
|
|
|
|
|
|
|
|
As of March 31, |
|
As of December 31, |
|
|
|
2023 |
|
|
2022 |
Assets |
|
|
|
|
|
|
Eastern Region |
|
$ |
225,060 |
|
$ |
226,458 |
Western Region |
|
|
59,981 |
|
|
60,896 |
Other |
|
|
12,487 |
|
|
16,113 |
Total |
|
$ |
297,528 |
|
$ |
303,467 |
|
| Summary of Disaggregation of Revenue |
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2023 |
|
2022 |
Revenue |
|
|
|
|
|
|
iAnthus branded products |
|
$ |
20,919 |
|
$ |
22,158 |
Third party branded products |
|
|
13,678 |
|
|
17,147 |
Wholesale/bulk/other products |
|
|
2,156 |
|
|
3,485 |
Total |
|
$ |
36,753 |
|
$ |
42,790 |
|