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:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2022 |
2021 |
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2022 |
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2021 |
Segment Net Sales:
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Cannabinoid |
$ |
1,299
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$ |
579 |
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$ |
3,290
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$ |
1,256 |
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Non-Cannabinoid |
3,358
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3,093 |
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6,591
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5,893 |
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Total net sales |
4,657
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3,672 |
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9,881
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7,149 |
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Segment Profit (Loss):
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Cannabinoid |
(5,338) |
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(3,604) |
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(13,026) |
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(6,468) |
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Non-Cannabinoid |
666
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634 |
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1,014
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1,246 |
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Total segment loss |
$ |
(4,672) |
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$ |
(2,970) |
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$ |
(12,012) |
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$ |
(5,222) |
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Reconciliation:
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Total segment loss |
(4,672) |
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(2,970) |
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(12,012) |
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(5,222) |
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Unallocated corporate expenses |
(1,841) |
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(2,786) |
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(5,377) |
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(6,173) |
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Non-cash share-based compensation |
(1,148) |
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(3,323) |
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(1,648) |
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(4,873) |
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Depreciation and amortization |
(537) |
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(524) |
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(1,054) |
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(1,103) |
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Loss from continuing operations before income taxes |
$ |
(8,198) |
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$ |
(9,603) |
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$ |
(20,091) |
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$ |
(17,371) |
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Loss on debt extinguishment, net |
—
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— |
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— |
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2,263
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— |
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(Gain) loss on remeasurement of warrant liability |
(1,323) |
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(1,176) |
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— |
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(1,813) |
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3,675 |
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Gain on investment |
(6,851) |
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— |
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— |
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(6,851) |
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— |
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Foreign exchange loss |
307
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80 |
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— |
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652
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839 |
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Interest and amortization of debt issuance cost |
652
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920 |
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— |
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2,770
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1,898 |
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Other expense (income), net |
63
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(485) |
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— |
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10
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(1,087) |
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Loss before loss from equity investment |
$ |
(1,046) |
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$ |
(8,942) |
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$ |
(17,122) |
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$ |
(22,696) |
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Disaggregation of Revenue |
The following table disaggregates the Company’s revenue by channel for the periods presented:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
Mass retail |
$ |
2,239
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$ |
1,721 |
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$ |
5,236
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$ |
3,609 |
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Distributors |
1,664
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1,448 |
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3,322
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2,680 |
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Specialty, health and other retail |
560
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350 |
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952
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575 |
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E-commerce |
194
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153 |
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371
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285 |
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Total |
$ |
4,657
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$ |
3,672 |
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$ |
9,881
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$ |
7,149 |
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The following table represents the Company's revenues attributed to countries based on location of customer:
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Three Months Ended June 30, |
Six Months Ended June 30, |
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2022 |
2021 |
2022 |
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2021 |
United States |
$ |
3,275
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$ |
3,092 |
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$ |
6,508
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$ |
5,892 |
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Israel |
385
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$ |
198 |
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$ |
1,023
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$ |
198 |
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Australia |
133
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358 |
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684
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640 |
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Brazil |
277
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4 |
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920
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146 |
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Germany |
408
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— |
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552
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— |
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Other |
179
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20 |
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194
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273 |
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Total |
$ |
4,657
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$ |
3,672 |
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$ |
9,881
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$ |
7,149 |
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Schedule of Revenue by Major Customers by Reporting Segments |
During the six months ended June 30, 2022 and 2021, the majority of the Company's net sales for the non-cannabinoid segment were in the U.S., with approximately $6.5 million of non-cannabinoid net sales.
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Percentage of Revenues |
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Percentage of Accounts Receivable |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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June 30, |
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December 31, |
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2022 |
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2021 |
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2022 |
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2021 |
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2022 |
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2021 |
Customer A |
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* |
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* |
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* |
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* |
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20% |
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* |
Customer B (a)
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* |
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15% |
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10% |
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17% |
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* |
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25% |
Customer C (b)
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* |
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* |
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* |
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* |
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15% |
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18% |
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Customer D (a)
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* |
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* |
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* |
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* |
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10% |
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* |
Customer E (b)
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* |
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* |
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* |
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* |
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14% |
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* |
* 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
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Long-lived Assets by Geographic Areas |
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June 30, 2022 |
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December 31, 2021 |
Long-lived assets
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Colombia |
$ |
17,146
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$ |
18,950 |
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Portugal |
12,145
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11,733 |
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Other(a)
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211
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249 |
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Total |
$ |
29,502
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$ |
30,932 |
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(a)“Other” includes long-lived assets primarily in the U.S.
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