XML 23 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Unaudited Condensed Interim Consolidated Statements of Loss and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Unaudited Condensed Interim Consolidated Statements of Loss and Comprehensive Loss            
Revenue $ 21,460 $ 8,943 $ 40,779 $ 13,144 $ 37,171 $ 8,980
Cost of sales 17,500 5,624 31,473 7,597 22,757 6,555
Gross profit 3,960 3,319 9,306 5,547 14,414 2,425
Operating expenses            
Consulting and management fees 3,662 2,116 7,333 3,976 11,342 7,324
Professional fees 668 727 665 1,705 4,398 4,269
General and administrative 685 1,088 1,036 1,660 4,495 922
Promotion and communication 1,263 2,039 2,571 4,414 8,416 3,585
Travel expenses 124 291 256 492 1,055 603
Share based compensation 338 1,263 992 2,789 3,404 1,340
Research and development 13 111 29 233 430 132
Operating lease expense 308 136 624 327 1,221 316
Depreciation and amortization 874 706 1,738 1,050 2,629 501
Bad debt expense 18 254 47 255 1,607 1,335
Goodwill impairment         25,452 51
Other asset impairments     39,645 15,652 783 0
Other expenses (income), net 1,127 456 1,505 810 2,489 1,050
Asset impairment 34,941 15,652 34,941 15,652    
Total operating expenses 44,021 24,839 51,737 33,363 67,721 21,428
Operating loss (40,061) (21,520) (42,431) (27,816) (53,307) (19,003)
Interest expense (income) 28 (12) 51 (42) (56) 32
Foreign exchange (gain) loss (164) 211 (176) 200 323 79
Unrealized (gain) loss from changes in fair value (1,815) 1,333 (932) 1,333 593 2,345
Net loss before income taxes and discontinued operations (38,110) (23,052) (41,374) (29,307) (54,167) (21,459)
Income tax recovery (1,119) 0 (1,196) 0 (1,538) (98)
Net loss from continuing operations (36,991) (23,052) (40,178) (29,307) (52,629) (21,361)
Loss from discontinued operations, net of taxes (7,565) (1,620) (8,283) (2,995)    
Net loss for the period (44,556) (24,672) (48,461) (32,302) (52,629) (21,361)
Other comprehensive gain (loss)            
Exchange differences on foreign operations, net of income taxes 849 10 1,206 (567) (1,624) (1,147)
Total comprehensive loss for the period (43,707) (24,662) (47,255) (32,869) (54,253) (22,508)
Flora Growth Corp.         (52,415) (21,249)
Net loss attributable to:            
Flora Growth Corp. continuing operations (36,991) (23,052) (40,178) (29,307) (52,629) (21,361)
Flora Growth Corp. discontinued operations (7,299) (1,579) (7,988) (2,890)    
Non-controlling interests in subsidiaries (266) (41) (295) (105) (214) (112)
Comprehensive loss attributable to:            
Flora Growth Corp. (43,441) (24,621) (46,960) (32,764) (54,039) (22,396)
Non-controlling interests in subsidiaries $ (266) $ (41) $ (295) $ (105) $ (214) $ (112)
Basic loss per share from continuing operations $ (5.5) $ (6.01) $ (6.01) $ (8.01)    
Diluted loss per share from continuing operations (5.5) (6.01) (6.01) (8.01)    
Basic loss per share from discontinued operations (1.09) (0.41) (1.2) (0.79)    
Diluted loss per share from discontinued operations (1.09) (0.41) (1.2) (0.79)    
Basic loss per share attributable to Flora Growth Corp. (6.58) (6.42) (7.21) (8.8) $ (0.68) $ (0.48)
Diluted loss per share attributable to Flora Growth Corp. $ (6.58) $ (6.42) $ (7.21) $ (8.8) $ (0.68) $ (0.48)
Weighted average number of common shares outstanding - basic 6,726 3,836 6,684 3,659 76,655 43,954
Weighted average number of common shares outstanding - diluted 6,726 3,836 6,684 3,659 76,655 43,954