REPORTABLE SEGMENTS AND REVENUE

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

REPORTABLE SEGMENTS AND REVENUE

REPORTABLE SEGMENTS AND REVENUE

The Company operates under one operating segment, which is its only reportable segment: the production and sale of cannabis products. The Company prepares its segment reporting on the same basis that its Chief Operating Decision Maker manages the business and makes operating decisions. The Company’s measure of segment performance is net income and derives its revenue primarily from the sale of cannabis products. All of the Company’s operations are located in the United States.

Disaggregation of Revenue

The Company disaggregates its revenue from the direct sale of cannabis to customers as retail revenue and wholesale revenue. We have determined that disaggregating revenue into these categories best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

	Three Months Ended March 31,
(in thousands)	2022		2021
Retail revenue	$	63,290	$	45,521
Wholesale revenue	37,933		30,342
	101,223		75,863
Elimination of inter-company revenue	(16,133)		(9,726)
Total revenue, net	$	85,090	$	66,137

Sales discounts were not material during the three months ended March 31, 2022 and 2021. The liability related to the loyalty program we offer dispensary customers at certain locations was $460 and $518 at March 31, 2022 and December 31, 2021, respectively, and is included in “Other current liabilities” on the accompanying unaudited Condensed Consolidated Balance Sheets. As of March 31, 2022 and December 31, 2021, the Company recorded $625 and $374, respectively, in allowance for doubtful accounts. Write-offs were not significant during the three months ended March 31, 2022 and 2021.