v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 18.     SEGMENT INFORMATION
During the fourth quarter of 2025, the Company reorganized our internal reporting and realigned our operating segments following the completed sale of its Sonoma’s Finest cultivation facility and exit of the California market. The change resulted in the identification of two (2) new operating segments consolidated wholesale and consolidated retail with the Chief Executive Officer as the sole Chief Operating Decision Maker (“CODM”). As such, the segment information for prior periods has been recast to conform to current period presentation.

The Company operates in the cultivation, manufacturing, distribution, and sale of cannabis. For evaluating financial performance and allocating resources, the CODM review certain financial information presented on a consolidated basis accompanied by information disaggregated by wholesale and retail customers.

The following table reflects revenues net of discounts, significant expenses, and gross profit by segment for the years ended December 31, 2025 and 2024:
Year Ended
December 31,
($ in thousands)20252024
Wholesale$387,797 $417,940 
Retail433,078 471,753 
Intersegment eliminations
(165,028)(165,350)
Revenues, net$655,847 $724,343 
Wholesale$211,492 $237,385 
Retail284,815 287,854 
Intersegment eliminations(165,028)(165,350)
Total Cost of Goods Sold$331,279 $359,889 
Wholesale$176,305 $180,555 
Retail148,263 183,899 
Intersegment eliminations— — 
Total Gross Profit$324,568 $364,454 

The Company’s assets are aggregated into two reporting units wholesale and retail which aligns with our operating segments. All revenues are generated from customers in the U.S. and all assets are located in the U.S.