Inventories, net

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net

Inventories, net consist of the following as of December 31, 2024 and 2023:

	As of
	December 31, 2024		December 31, 2023
Raw materials:
Cannabis	$	43,803	$	30,054
Non-Cannabis	16,248		22,064
Total raw materials	60,051		52,118
Work-in-process	60,863		72,988
Finished goods	99,740		90,807
Inventories, net	$	220,654	$	215,913

As of December 31, 2024 and 2023, the Company recorded an inventory reserve balance of $11.8 million and $12.0 million, respectively, within Inventories, net on the Consolidated Balance Sheets.

During the year ended December 31, 2024 and 2023, the Company recorded inventory write-downs totaling $4.7 million and $13.2 million, respectively, within Cost of goods sold on the Consolidated Statements of Operations related to aged, obsolete or unsellable inventories, inventories that did not meet the Company’s quality standards and inventories whose carrying value exceeded the estimated NRV.