Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.23.3
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table is a comparative summary of the Company’s net sales and segment profit by reportable segment for the periods presented:
Three Months Ended September 30, Nine Months Ended September 30,
  2023 2022 (*) 2023 2022 (*)
Segment Net Sales:
Cannabinoid $ 1,442  $ 613  $ 4,537  $ 3,166 
Non-Cannabinoid 2,378  2,254  8,242  8,842 
Total net sales 3,820  2,867  12,779  12,008 
 
Segment Profit (Loss):
Cannabinoid (2,225) (2,732) (6,237) (11,144)
Non-Cannabinoid 316  95  1,594  1,109 
Total segment loss $ (1,909) $ (2,637) $ (4,643) $ (10,035)
 
Reconciliation:
Total segment loss (1,909) (2,637) (4,643) (10,035)
Unallocated corporate expenses (1,706) (1,424) (5,835) (6,801)
Non-cash share-based compensation (52) (958) (954) (2,606)
Depreciation and amortization 290  (305) 750  (950)
Goodwill impairment —  (19,000) —  (19,000)
Loss from continuing operations before income taxes $ (3,377) $ (24,324) $ (10,682) $ (39,392)
 
Loss on debt extinguishment, net —  —  —  2,263 
Gain on remeasurement of warrant liability (60) (196) (5) (2,009)
Gain on investment —  —  —  (6,851)
Impairment investment 3,705  —  3,705  — 
Foreign exchange loss 275  669  297  1,144 
Interest and amortization of debt issuance cost 5  (58) 23  2,696 
Other (income) expense, net (31) 102  (19) 111 
Income (loss) before loss from equity investment $ (7,271) $ (24,841) $ (14,683) $ (36,746)
(*)Prior period numbers are re-stated to exclude discontinued operations to make it comparative with current period numbers.
Schedule of Disaggregation of Revenue
The following table disaggregates the Company’s revenue by channel for the periods presented:

Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Mass retail $ 2,618  $ 1,570  $ 8,133  $ 6,065 
Distributors 923  927  3,738  4,250 
Specialty, health and other retail 107  282  361  1,234 
E-commerce 172  88  547  459 
Total $ 3,820  $ 2,867  $ 12,779  $ 12,008 

The following table represents the Company's revenues attributed to countries based on location of customer:
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
United States $ 2,378  $ 2,228  $ 8,242  $ 8,736 
Israel —  $ —  $ 600  $ 704 
Australia 685  77  1,392  445 
Brazil 507  249  1,778  1,169 
Germany 59  275  68  722 
Other 191  38  699  232 
 Total $ 3,820  $ 2,867  $ 12,779  $ 12,008 
Schedule of Revenue by Major Customers by Reporting Segments
Customers with an accounts receivable balance of 10% or greater of total accounts receivable and customers with net revenue of 10% or greater of total revenues are presented below for the periods indicated:

Percentage of Revenues Percentage of Accounts Receivable
Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31,
2023 2022 2023 2022 2023 2022
Customer A (a)
10% 20% 12% 13% * 18%
Customer B (b)
* * * * 20% 13%
Customer C (b)
11% * * * * *
Customer D (b)
* * * * * 15%
Customer E (b)
13% * * * 15% 10%
Customer F (b)
* * * * 16% *
Customer G (b)
* * * * 13% *
* denotes less than 10%

(a) net sales attributed are reflected in the non-cannabinoid segments
(b) net sales attributed are reflected in the cannabinoid segments
Schedule of Long-lived Assets by Geographic Areas
The following table disaggregates the Company’s long-lived assets, by segment for the periods presented:

September 30, 2023 December 31, 2022
Long-lived assets
   
Cannabinoid $ 14,163  $ 15,308 
Non-Cannabinoid 89  155 
Total $ 14,252  $ 15,463