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Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Summary of Revenue and Gross Profit

The results of each segment are regularly reviewed by the Company’s Chief Executive Officer, who is the Company’s chief operating decision maker, to assess the performance of the segment and make decisions regarding the allocation of resources. The Company’s chief operating decision maker uses revenue and gross profit as the measure of segment profit or loss. The accounting policies of each segment are the same as those set out under the summary of significant accounting policies in Note 2. There are no intersegment sales or transfers.

 

 

 

Year ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

Revenue

 

 

Gross

profit (loss)

 

 

Revenue

 

 

Gross

profit (loss)

 

 

Revenue

 

 

Gross

profit

 

Cannabis

 

$

133,605

 

 

$

(3,575

)

 

$

107,147

 

 

$

(42,302

)

 

$

43,130

 

 

$

14,275

 

Hemp

 

 

76,877

 

 

 

28,230

 

 

 

59,832

 

 

 

18,806

 

 

 

 

 

 

 

Total

 

$

210,482

 

 

$

24,655

 

 

$

166,979

 

 

$

(23,496

)

 

$

43,130

 

 

$

14,275

 

 

No asset information is provided for the segments because the Company’s chief operating decision maker does not receive asset information by segment on a regular basis.

Total revenue and gross profit for the reportable segments is equal to the Company’s consolidated revenue and gross profit.

 

 

 

Year ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Gross profit (loss) for the segments

 

$

24,655

 

 

$

(23,496

)

 

$

14,275

 

General and administrative expenses

 

 

(85,883

)

 

 

(110,903

)

 

 

(48,577

)

Sales and marketing expenses

 

 

(54,666

)

 

 

(63,813

)

 

 

(15,828

)

Research and development expenses

 

 

(4,411

)

 

 

(9,172

)

 

 

(5,864

)

Depreciation and amortization expenses

 

 

(13,722

)

 

 

(11,607

)

 

 

(1,598

)

Impairment of assets

 

 

(61,114

)

 

 

(112,070

)

 

 

 

Acquisition-related income (expenses), net

 

 

 

 

 

31,427

 

 

 

(248

)

Loss from equity method investments

 

 

(5,983

)

 

 

(4,504

)

 

 

 

Foreign exchange (loss) gain, net

 

 

13,169

 

 

 

5,944

 

 

 

(7,234

)

Change in fair value of warrant liability

 

 

(100,286

)

 

 

 

 

 

 

Gain on debt conversion

 

 

61,118

 

 

 

 

 

 

 

Interest expenses, net

 

 

(39,219

)

 

 

(34,690

)

 

 

(9,110

)

Finance income from ABG

 

 

 

 

 

764

 

 

 

 

Other (expenses) income, net

 

 

(10,333

)

 

 

2,501

 

 

 

2,010

 

Loss before income taxes

 

$

(276,675

)

 

$

(329,619

)

 

$

(72,174

)

 

Sources of revenue were as follows:

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Dried cannabis

 

$

92,781

 

 

$

82,753

 

 

$

21,674

 

Cannabis extracts

 

 

39,986

 

 

 

24,139

 

 

 

21,179

 

Hemp products

 

 

76,877

 

 

 

59,832

 

 

 

 

Accessories and other

 

 

838

 

 

 

255

 

 

 

277

 

Total

 

$

210,482

 

 

$

166,979

 

 

$

43,130

 

 

 


Channels of revenue were as follows:

 

 

Year Ended December 31,

 

 

2020

 

2019

 

2018

 

Cannabis

 

 

 

 

 

 

 

 

 

Adult-use

$

83,828

 

$

55,763

 

$

3,521

 

Canada - medical

 

15,489

 

 

12,556

 

 

18,052

 

International - medical

 

33,886

 

 

13,378

 

 

2,912

 

Bulk

 

402

 

 

25,450

 

 

18,645

 

Total Cannabis revenue

$

133,605

 

$

107,147

 

$

43,130

 

Hemp

 

76,877

 

 

59,832

 

 

 

Total

$

210,482

 

$

166,979

 

$

43,130

 

 

Summary of Revenue Attributed to a Geographic Region Based on the Location of the Customer

Revenue attributed to geographic region based on the location of the customer was as follows:

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Canada

 

$

120,581

 

 

$

130,291

 

 

$

40,209

 

United States

 

 

53,782

 

 

 

23,516

 

 

 

 

Other countries

 

 

36,119

 

 

 

13,172

 

 

 

2,921

 

Total

 

$

210,482

 

 

$

166,979

 

 

$

43,130

 

 

Summary of Long-lived Assets Consisting of Property and Equipment, Net of Accumulated Depreciation, Attributed to Geographic Regions Based on their Physical Location

Long-lived assets consisting of property and equipment, net of accumulated depreciation, attributed to geographic regions based on their physical location were as follows:

 

 

December 31,

 

 

 

2020

 

 

2019

 

Canada

 

$

122,328

 

 

$

144,065

 

Portugal

 

 

71,988

 

 

 

36,908

 

United States

 

 

5,182

 

 

 

3,171

 

Other countries

 

 

61

 

 

 

73

 

Total

 

$

199,559

 

 

$

184,217