Segment Information

6 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

27. SEGMENT INFORMATION

Reportable segments

Prior to the three months ended September 30, 2022, the Company had the following two reportable segments: (i) global cannabis; and (ii) other consumer products. Following the completion of certain restructuring actions which were initiated in the three months ended March 31, 2022, and which were aligned with the Company's strategic review of its business, the Company has changed the structure of its internal management financial reporting. Accordingly, in the three months ended September 30, 2022, the Company is reporting its financial results for the following five reportable segments:

•Canada cannabis - includes the production, distribution and sale of a diverse range of cannabis, hemp and cannabis products in Canada pursuant to the Cannabis Act;

•Rest-of-world cannabis - includes the production, distribution and sale of a diverse range of cannabis, hemp and cannabis products internationally pursuant to applicable international legislation, regulations and permits;

•Storz & Bickel - includes the production, distribution and sale of vaporizers;

•BioSteel - includes the production, distribution and sale of consumer packaged goods ("CPG") including sports nutrition beverages, mixes, protein, gum and mints, some of which have been blended with hemp-derived CBD isolate; and

•This Works - includes the production, distribution and sale of beauty, skincare, wellness and sleep products, some of which have been blended with hemp-derived CBD isolate.

These segments reflect how the Company's operations are managed, how the Company's Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), allocates resources and evaluates performance, and how the Company's internal management financial reporting is structured. The Company's CODM evaluates the performance of these segments, with a focus on (i) segment net revenue, and (ii) segment gross margin as the measure of segment profit or loss. Accordingly, information regarding segment net revenue and segment gross margin for the comparative periods has been restated to reflect the aforementioned change in reportable segments. The remainder of the Company's operations include revenue derived from, and cost of sales associated with, the Company's non-cannabis extraction activities and other ancillary activities; these are included within "other".

	Three months ended						Six months ended
	September 30,			September 30,			September 30,			September 30,
	2022			2021			2022			2021
Segmented net revenue
Canada cannabis	$	52,304		$	71,672		$	104,719		$	145,201
Rest-of-world cannabis		10,552			23,653			24,333			43,063
Storz & Bickel		13,494			14,511			29,137			38,581
BioSteel		29,922			7,512			47,810			14,173
This Works		6,868			9,027			12,388			15,578
Other		4,723			4,999			9,591			10,987
	$	117,863		$	131,374		$	227,978		$	267,583
Segmented gross margin:
Canada cannabis	$	(7,652	)	$	(91,980	)	$	(20,185	)	$	(84,804	)
Rest-of-world cannabis		(1,332	)		10,978			(1,492	)		19,585
Storz & Bickel		6,002			5,351			11,623			16,451
BioSteel		4,432			(404	)		6,865			(3,713	)
This Works		2,303			3,558			4,950			6,954
Other		68			1,357			668			1,625
		3,821			(71,140	)		2,429			(43,902	)
Selling, general and administrative expenses		125,842			125,756			229,255			238,330
Share-based compensation		9,858			15,953			15,297			29,079
Asset impairment and restructuring costs		43,968			2,510			1,771,953			91,759
Operating loss		(175,847	)		(215,359	)		(2,014,076	)		(403,070	)
Loss from equity method investments		-			-			-			(100	)
Other income (expense), net		(47,844	)		195,821			(293,422	)		776,487
(Loss) income before incomes taxes	$	(223,691	)	$	(19,538	)	$	(2,307,498	)	$	373,317

Asset information by segment is not provided to, or reviewed by, the Company’s CODM as it is not used to make strategic decisions, allocate resources, or assess performance.

Entity-wide disclosures

Disaggregation of net revenue by geographic area:

	Three months ended				Six months ended
	September 30,		September 30,		September 30,		September 30,
	2022		2021		2022		2021
Canada	$	86,012	$	80,184	$	160,461	$	162,796
Germany		11,247		22,370		23,611		48,476
United States		8,783		18,225		20,396		38,092
Other		11,821		10,595		23,510		18,219
	$	117,863	$	131,374	$	227,978	$	267,583

Disaggregation of property, plant and equipment by geographic area:

	September 30,		March 31,
	2022		2022
Canada	$	747,355	$	827,591
Other		117,168		115,189
	$	864,523	$	942,780

For the three months ended September 30, 2022, no customer represented more than 10% of the Company’s net revenue (three months ended September 30, 2021 – none).

For the six months ended September 30, 2022, no customer represented more than 10% of the Company's net revenue (six months ended September 30, 2021 – one)