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Segment reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of segment reporting
The following table presents Adjusted EBITDA by reportable segment as of December 31, 2024 and December 31, 2023:
Domestic
International (1)
Total
For the year ended December 31,
202420232024202320242023
Income from continuing operations$44,840$71,728$(24,643)$(28,845)$20,197$42,883
Depreciation and amortization204,849173,86828,38422,012233,233195,880
Other add-backs, net (2)
45,18764,2822,1831,50247,37065,784
Adjusted EBITDA$294,876$309,878$5,924$(5,331)$300,800$304,547
Adjusted EBITDA Margin23.8%24.1%5.6%(8.7)%22.4%22.6%
Total Revenues$1,237,251$1,285,625$105,551$61,007$1,342,802$1,346,632
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries’ operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company’s consolidated operating results, they may impact the comparability of the Company’s segment results across quarters and year-over-year.
(2) Other add-backs in the current year ended December 31, 2024 primarily include costs related to salaries and benefits, inventory, legal and professional fees and lobbyist/PR spend. Other add-backs for the year ended December 31, 2023 primarily include inventory adjustments, costs related to legal and professional fees and license fees.
The following tables present certain financial information by reportable segment for the years ended December 31, 2024 and December 31, 2023:
For the year ended December 31, 2024Domestic
International (1)
Total
Revenues, net:
Retail and wholesale revenues$1,235,580 $101,126 $1,336,706 
Management fee income1,671 4,425 6,096 
Total revenues, net1,237,251 105,551 1,342,802 
Cost of goods sold641,817 61,737 703,554 
Gross profit595,434 43,814 639,248 
Total operating expenses550,594 68,457 619,051 
Income (loss) from continuing operations$44,840 $(24,643)$20,197 
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries’ operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company’s consolidated operating results, they may impact the comparability of the Company’s segment results across quarters and year-over-year.
For the year ended December 31, 2023Domestic
International (1)
Total
Revenues, net:
Retail and wholesale revenues$1,282,701 $58,077 $1,340,778 
Management fee income2,924 2,930 5,854 
Total revenues, net1,285,625 61,007 1,346,632 
Cost of goods sold693,717 38,466 732,183 
Gross profit591,908 22,541 614,449 
Total operating expenses520,180 51,386 571,566 
Income (loss) from continuing operations$71,728 $(28,845)$42,883 
(1) The Company is exposed to foreign currency exchange risk due to fluctuations between the functional currencies of its international subsidiaries and the USD. Additionally, the translation of these subsidiaries’ operating results into USD for reporting purposes introduces further exposure. While these fluctuations are not material to the Company’s consolidated operating results, they may impact the comparability of the Company’s segment results across quarters and year-over-year.
As the CODM does not review total assets by reportable segment, the following table presents long-lived assets by reportable segment as of December 31, 2024 and December 31, 2023:
DomesticInternationalTotal
Long-lived assets as of December 31, 2024
$2,186,287 $333,568 $2,519,855 
Long-lived assets as of December 31, 2023
2,349,337 328,636 2,677,973