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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - CAD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
REVENUE    
Gross revenue (Note 20) $ 403,024 $ 247,177
Excise taxes (143,841) (87,336)
Net revenue 259,183 159,841
Cost of sales (Note 7 and 21) 174,850 111,390
Gross margin before fair value adjustments 84,333 48,451
Realized fair value on inventories sold and other inventory charges (Note 7) (67,125) (52,078)
Unrealized gain on changes in fair value of biological assets (Note 6) 73,008 51,151
Gross margin 90,216 47,524
OPERATING EXPENSES    
General and administrative (Note 23) 59,499 44,955
Sales and marketing 31,097 19,851
Research and development 10,945 11,200
Share-based compensation (Note 14 (iv)) 3,975 6,274
Total operating expenses 105,516 82,280
LOSS FROM OPERATIONS (15,300) (34,756)
Investment income, net of financing costs (1,150) (3,311)
Acquisition and transaction costs 6,580 915
Share of loss from investments in associates 0 5,284
Loss (gain) on disposal of property, plant and equipment and intangible assets 9 (633)
Change in fair value of contingent consideration (Note 26) (9,743) (50)
Change in fair value of derivative liabilities, preferred shares and other financial assets (Note 11, 12 and 13) 27,505 7,718
Share issuance costs allocated to derivative liabilities and preferred shares (Note 14) 170 937
Other non-operating income (142) (176)
Loss before tax (38,529) (45,440)
Income tax recovery (Note 24)    
Deferred, net (13,770) 0
NET LOSS (24,759) (45,440)
OTHER COMPREHENSIVE INCOME    
Change in fair value of investments at fair value through other comprehensive income (Note 11) 666 96
COMPREHENSIVE LOSS $ (24,093) $ (45,344)
Net loss per common share, basic (in CAD per share) $ (0.194) $ (0.477)
Net loss per common share, diluted (in CAD per share) $ (0.194) $ (0.477)