SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATIONThe Company operates in two segments: (i) cannabis retail and (ii) cannabis cultivation and distribution. Our reportable segments are as follows:

	(in thousands)
	Total Revenue				% of Total Revenue
	Three Months Ended March 31,				Three Months Ended March 31,
Segment	2022		2021		2022		2021
Cannabis Retail	$	12,109	$	1,699	58.4	%	82.6	%
Cannabis Cultivation & Distribution	8,616		358		41.6	%	17.4	%
Total	$	20,725	$	2,057	100.0	%	100.0	%

Cannabis Retail

Either independently or in conjunction with third parties, we operate medical marijuana and adult use cannabis dispensaries in California. All our retail dispensaries offer a broad selection of medical and adult use cannabis products including flower, concentrates and edibles.

Cannabis Cultivation and Distribution

We operate distribution centers in California and Oregon that distribute our own branded products as well as third party products to our own dispensaries and to other non-affiliated medical marijuana and/or adult use cannabis dispensaries.

	(in thousands)
	Three Months Ended March 31, 2022
	Cannabis Retail		Cannabis Cultivation & Distribution		Corporate & Other		Total
Total revenues	$	12,109	$	8,616	$	—	$	20,725
Cost of goods sold	6,881		7,411		—		14,292
Gross profit	5,228		1,205		—		6,433
Selling, general and administrative expenses	5,025		4,600		9,142		18,767
(Gain) Loss on sale of assets	—		—		(198)		(198)
Income (Loss) from operations	203		(3,395)		(8,945)		(12,136)
Other income (expense):
Interest expense	—		(165)		(1,601)		(1,766)
Gain on extinguishment of debt	—		—		542		542
Other income (loss)	78		415		541		1,034
Total other income	78		250		(518)		(190)
Loss before provision for income taxes	$	281	$	(3,145)	$	(9,463)	$	(12,326)
Total assets at March 31, 2022	$	52,125	$	580	$	197,097	$	249,802

	(in thousands)
	Three Months Ended March 31, 2021
	Cannabis Retail		Cannabis Cultivation & Distribution		Corporate & Other		Total
Total revenues	$	1,699	$	357	$	—	$	2,057
Cost of goods sold	956		910		—		1,866
Gross profit	743		(553)		—		191
Selling, general and administrative expenses	1,248		362		11,040		12,650
Income (Loss) from operations	(505)		(915)		(11,040)		(12,459)
Other income (expense):
Interest expense	—		—		(71)		(71)
Loss on extinguishment of debt	—		—		(6,161)		(6,161)
Unrealized gain (loss) on investments	—		—		6,212		6,212
Other income (loss)	—		—		345		345
Total other income	—		—		325		325
Loss before provision for income taxes	$	(505)	$	(915)	$	(10,715)	$	(12,134)
Total assets at March 31, 2021	$	20,062	$	11,847	$	75,310	$	107,219