CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares |
Jun. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Common shares, issued (in shares) | 158,617,767 | 158,009,541 |
| Common shares, outstanding (in shares) | 158,617,767 | 158,009,541 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
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Jun. 30, 2025 |
Mar. 31, 2025 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Income Statement [Abstract] | ||||||
| Revenue | $ 12,806 | $ 12,289 | $ 25,068 | $ 24,413 | ||
| Cost of goods sold | 6,816 | 9,707 | 12,848 | 14,920 | ||
| Gross profit | 5,990 | 2,582 | 12,220 | 9,493 | ||
| Selling, general and administrative expenses | 10,062 | 14,727 | 21,640 | 30,007 | ||
| Operating loss | (4,072) | (12,145) | (9,420) | (20,514) | ||
| Change in fair value of financial instruments | (1,543) | 1,140 | (1,669) | (720) | ||
| Other income (expense), net | (675) | (6) | (1,413) | 605 | ||
| Loss before provision for income taxes | (6,290) | (11,011) | (12,502) | (20,629) | ||
| Income tax benefit (expense) | 2 | (46) | 2 | (62) | ||
| Net loss | $ (6,288) | $ (6,212) | $ (11,057) | $ (9,634) | $ (12,500) | $ (20,691) |
| Per common share amounts (Note 10) | ||||||
| Net loss per common share, basic (in usd per share) | $ (0.04) | $ (0.07) | $ (0.08) | $ (0.13) | ||
| Net loss per common share, diluted (in usd per share) | $ (0.04) | $ (0.07) | $ (0.08) | $ (0.13) | ||
DESCRIPTION OF BUSINESS AND PRESENTATION OF FINANCIAL STATEMENTS |
6 Months Ended |
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Jun. 30, 2025 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| DESCRIPTION OF BUSINESS AND PRESENTATION OF FINANCIAL STATEMENTS | DESCRIPTION OF BUSINESS AND PRESENTATION OF FINANCIAL STATEMENTS Description of the Business Charlotte's Web Holdings, Inc. together with its subsidiaries (collectively "Charlotte's Web" or the "Company") is a public company incorporated pursuant to the laws of the Province of British Columbia and a Certified B Corp. The Company's common shares are publicly listed on the Toronto Stock Exchange ("TSX") under the symbol "CWEB" and quoted on the OTCQB under the symbol "CWBHF." The Company's corporate headquarters is located in Louisville, Colorado in the United States of America. The majority of the Company's business is conducted in the United States of America. The Company's primary products are made from high-quality and proprietary strains of whole-plant hemp extracts containing a full spectrum of phytocannabinoids, terpenes, flavonoids and other hemp compounds. Hemp extracts are produced from the plant Cannabis sativa L. ("cannabis" or "CBD"), and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 tetrahydrocannabinol ("THC") concentration of not more than 0.3% on a dry weight basis ("hemp"). The Company is engaged in research involving the effectiveness of a broad variety of compounds derived from hemp, as well as other botanical-based wellness products such as functional mushrooms. The Company does not currently produce or sell medical or recreational marijuana or products derived from high-THC cannabis plants. The Company does not currently have any plans to expand into such high-THC products in the near future. The Company's current product categories include full-spectrum hemp extract oil tinctures (liquid product), gummies, capsules, soft-gels, CBD topical creams and lotions, broad-spectrum botanical CBD gummies, functional mushroom gummies, and pet products. The Company's products are distributed through its e-commerce website, third-party e-commerce websites, select distributors, health practitioners, and a variety of brick-and-mortar retailers across multiple channels of business. The Company grows its proprietary hemp domestically in the United States on farms leased in northeastern Colorado and sources high-quality hemp through contract farming operations in Arizona, Colorado, Kentucky, New Mexico, and Canada. The hemp grown in Canada is utilized exclusively in the Canadian markets or for research purposes and not in products sold within the United States. In furtherance of the Company's research and development ("R&D") efforts, the Company established CW Labs, an internal division for R&D, to expand the Company's efforts around the science of hemp derived compounds. CW Labs is currently engaged in clinical trials addressing hemp-based health solutions. CW Labs is located in Louisville, Colorado at the Company's current good manufacturing practice ("cGMP") production and distribution facility.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP as found in the Accounting Standards Codification ("ASC") and Accounting Standards Updates ("ASU") of the Financial Accounting Standards Board ("FASB"). In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company's financial position as of June 30, 2025 and its results of operations for the three and six months ended June 30, 2025 and 2024, cash flows for the six months ended June 30, 2025 and 2024, and stockholders' equity for the three and six months ended June 30, 2025 and 2024. Operating results for the three and six months ended June 30, 2025, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2025. The unaudited interim condensed consolidated financial statements presented herein do not contain the required disclosures under U.S. GAAP for annual consolidated financial statements. Certain amounts presented in prior periods have been reclassified to conform with the current period presentation. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes as of and for the year ended December 31, 2024 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 19, 2025. Inventories Inventories are stated at the lower of cost or net realizable value. The Company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions. The Company's inventory production process for cannabinoid products includes the cultivation of botanical raw material. Due to the duration of the cultivation process, a portion of the inventory will not be sold within one year. Consistent with the practice in other industries that cultivate botanical raw materials, all inventory is classified as a current asset. Revenue Recognition The majority of the Company's revenue is derived from sales of branded products to consumers via the Company's direct-to-consumer e-commerce website, as well as distributors, retail and wholesale business-to-business customers, and health practitioners. The service revenue is due to the Company and DeFloria, Inc. ("DeFloria") entering into a Master Services Agreement ("Services Agreement") in which the Company is compensated for the provision of certain services to DeFloria. Refer to Note 3 for additional disclosure on the DeFloria Service Agreement. The following table sets forth the disaggregation of the Company's revenue:
Substantially all of the Company's revenue is earned in the United States. Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07—Segment Reporting. The guidance was issued to provide financial statement users with more disaggregated expense information about a public entity’s reportable segments. The guidance was effective for the year ended December 31, 2024, and the expanded interim disclosures are effective in entities in 2025 and will be applied retrospectively to all prior periods presented. Refer to Note 13 "Operating Segment" for additional disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted Other than described below, no new accounting pronouncements issued by the FASB may have a material impact on the Company's consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-04, Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. The guidance clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for the Company beginning December 31, 2025. The Company is currently evaluating the effect of adopting this ASU. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The new guidance requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 is effective for the Company beginning December 31, 2026. The Company is currently evaluating the effect of adopting this ASU. In December 2023, the FASB issued a final standard on improvements to income tax disclosures, ASU 2023-09, Improvements to Income Tax Disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. For public business entities, the new requirements are effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact, if any, that the updated standard will have on the Company's consolidated financial statements and related disclosures.
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FAIR VALUE MEASUREMENT |
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| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENT | FAIR VALUE MEASUREMENT The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024, by level within the fair value hierarchy:
There were no transfers between levels of the fair value hierarchy and there were no changes in the fair value methodologies during the three and six month periods ended June 30, 2025 and the year ended December 31, 2024. Investment in Unconsolidated Entity On April 6, 2023, the Company jointly formed an entity, DeFloria, with AJNA BioSciences ("AJNA"), and a subsidiary of British American Tobacco ("BAT"). AJNA is a botanical drug development company. AJNA is partially owned and was co-founded by a member of the Stanley Brothers. The seven Stanley brothers (the "Stanley Brothers") founded CWB Holdings, Inc. (predecessor to Charlotte's Web, Inc). As of June 30, 2025, BAT holds an equity interest in DeFloria in the form of approximately 2,000,000 or 100% preferred units (200,000 preferred units as of June 30, 2024) following its $10 million initial investment and has the right to participate in future equity issuances to maintain its pro rata equity position. In 2024, BAT and AJNA invested an additional $5 million and $2 million, respectively, into DeFloria in exchange for a convertible debenture. The Company and AJNA each hold 4,000,000 or approximately 50% (400,000 common shares as of June 30, 2024), respectively, of DeFloria's voting common units following a 1-10 stock split when DeFloria converted from a Limited Liability Company to a Corporation. The Company's contribution to DeFloria is a license permitting the use of certain proprietary hemp intellectual property, including clinical and consumer data. Additionally, the Company has a supply agreement with DeFloria, under which the Company supplies the oils at cost used to produce and develop the new drug. AJNA's contribution to the entity is laboratory and regulatory services, clinical expertise, and the provision of clinical services. DeFloria used the investments for the clinical development of a hemp botanical Investigational New Drug application and has concluded Phase I clinical development. Concurrently with the formation of DeFloria, the Company was issued a warrant to purchase 865,052 shares of Class A Common Stock of AJNA for an exercise price of $2.89 per share. Management determined the warrant should be accounted for in accordance with ASC 321, which requires the warrant to be measured at fair value at issuance and subsequently remeasured at fair value each reporting period. All changes from the remeasurement of the warrant will be recorded as a change in fair value of financial instruments in the condensed consolidated statements of operations. As of June 30, 2025, the AJNA warrants have expired and as such have no value. The Company determined that it has a variable interest in the investment in DeFloria; however, the Company is not the primary beneficiary of DeFloria as it lacks the power to direct DeFloria's key activities. The Company concluded that the investment in DeFloria should not be consolidated. The maximum exposure to loss in the investment in DeFloria is limited to the Company's investment, which is represented by the financial statement carrying amount of its retained interest. In accordance with ASC 825-10, equity method investments are eligible for the fair value option as they represent recognized financial assets. As the Company is not required to consolidate the investment and does not meet any of the other scope exceptions, the Company had the ability to adopt the fair value option for the investment at inception. Upon formation of the entity, the Company elected the fair value option because it allowed the investment to be valued based on current market conditions. The investment has been remeasured at fair value at each reporting date, with changes recognized in condensed consolidated statements of operations as changes in fair value of financial instruments for the period. For the three months ended June 30, 2025 and June 30, 2024, a loss of $1,100 and a gain of $1,000, respectively, related to the investment in DeFloria was recognized as a change in fair value of financial instruments in the condensed consolidated statements of operations. Additionally, for the six months ended June 30, 2025 and June 30, 2024, a loss of $1,200 and a gain of $200, respectively, related to the investment in DeFloria was recognized as a change in fair value of financial instruments in the condensed consolidated statements of operations. As of June 30, 2025 and December 31, 2024, the DeFloria investment represents an investment of $9,600 and $10,800, respectively, within the condensed consolidated balance sheets. The use of assumptions for the fair value determination includes a high degree of subjectivity and judgment using unobservable inputs (level 3 on the fair value hierarchy), which results in estimation uncertainty. To determine the value of the investment, the Company utilizes an Option Pricing Model ("OPM"). The OPM considers the various terms of the stockholder agreements, including the level of seniority among the securities, dividend policy, conversion ratios, and cash allocations upon liquidation of the entity. The OPM is appropriate when the range of potential future outcomes is difficult to predict with any certainty. The following additional assumptions are used in the model:
Convertible Debt Derivatives On November 14, 2022, the Company entered into a subscription agreement (the "Subscription Agreement") with BT DE Investments, Inc. a wholly-owned subsidiary of BAT Group (LSE: BATS and NYSE: BTI) (the "Lender"), providing for the issuance of a $56.8 million (C$75.3 million) convertible debenture (the "debenture"). The debenture is convertible into 19.9% ownership of the Company's common shares at a conversion price of C$2.00 per common share of the Company on the TSX. The debenture will accrue interest at a stated annualized rate of 5% until such time that there is federal regulation permitting the use of cannabidiol, a phytocannabinoid derived from the plant Cannabis sativa L. as an ingredient in food products and dietary supplements in the United States. The term "federal regulation" is defined as the date that federal laws in the United States permit, authorize or do not prohibit the use of CBD as an ingredient in food products and dietary supplements. Following federal regulation of CBD, the annualized rate of interest shall reduce to 1.5%. The maturity date for the debenture is November 14, 2029 (the "Maturity Date"). Debt Interest Rate Conversion Feature The debt interest rate conversion feature is classified as a financial asset and is remeasured at fair value at each reporting date, with changes recognized in condensed consolidated statements of operations as changes in fair value of financial instruments for the period. The use of assumptions for the fair value determination includes a high degree of subjectivity and judgment using unobservable inputs (level 3 on the fair value hierarchy), which results in estimation uncertainty. The debt interest rate conversion feature, if triggered, reduces the stated interest rate of the debenture to 1.5% upon federal regulation of CBD in the United States. For the three months ended June 30, 2025 and June 30, 2024, a loss of $525 and $101, respectively, related to the debt interest rate conversion feature was recognized as a change in fair value of financial instruments in the condensed consolidated statements of operations. Additionally, for the six months ended June 30, 2025 and June 30, 2024, a loss of $578 and $154, respectively, related to the debt interest rate conversion feature was recognized as a change in fair value of financial instruments in the condensed consolidated statements of operations. As of June 30, 2025 and December 31, 2024, the debt interest rate conversion feature represents a financial asset of $500 and $1,023, respectively, within in the condensed consolidated balance sheets. To determine the value of the debt interest rate conversion feature, the Company utilizes a probability weighted income approach. This method calculates the present value of the reduced interest accrued on the debenture assuming the feature is triggered at a certain time, after accounting for the probability of federal regulation of CBD. This approach is useful when ultimate valuation is based on an unverifiable outcome, such as an event outside of the Company's influence. The following additional assumptions are used in the model:
Debt Conversion Option Per the debenture, the Lender has the option, at any time before the Maturity Date at no additional consideration, for all or any part of the principal amount to be converted into fully paid and non-assessable common shares. The Company assessed this conversion feature and determined that the debt conversion option is an embedded derivative that requires bifurcation and is classified as a financial liability within the condensed consolidated balance sheet. The debt conversion option is initially measured at fair value and is revalued at each reporting period using the Black-Scholes option pricing model based on Level 2 observable inputs. The assumptions used by the Company are the quoted price of the Company's common shares in an active market, risk-free interest rate, volatility and expected life, and assumes no dividends. Volatility is based on the actual historical market activity of the Company's shares. The expected life is based on the remaining contractual term of the debenture and the risk-free interest rate is based on the implied yield available on U.S. Treasury Securities with a maturity equivalent to the expected maturity of the debenture. For the three months ended June 30, 2025 and June 30, 2024, a gain of $83 and $276, respectively, related to the debt conversion option was recognized as a change in fair value of financial instruments in the condensed consolidated statements of operations. For the six months ended June 30, 2025 and June 30, 2024, a gain of $162 and $220, respectively, related to the debt conversion option was recognized as a change in fair value of financial instruments in the statements of operations. As of June 30, 2025 and December 31, 2024, the debt conversion option represents a financial liability of $664 and $786, respectively, within derivative and other long-term liabilities in the condensed consolidated balance sheets. The following table provides the assumption regarding Level 2 fair value measurements inputs at their measurement dates:
Stanley Brothers USA Holdings Purchase Option In 2021, the Company entered into an option purchase agreement (the "SBH Purchase Option") with Stanley Brothers USA Holdings, Inc ("Stanley Brothers USA"). The SBH Purchase Option was purchased for total consideration of $8,000 and has a term of five years (extendable for an additional two years upon payment of additional consideration). The SBH Purchase Option provides the Company the option to acquire all or substantially all the shares of Stanley Brothers USA, at a purchase price to be determined at the time of exercise of the SBH Purchase Option. The Company is not obligated to exercise the SBH Purchase Option. As part of the SBH Purchase Option agreement, Stanley Brothers USA issued the Company a warrant exercisable to purchase 10% of the outstanding Stanley Brothers USA shares and convertible securities that are considered in-the-money, subject to certain conditions and exclusions. The warrant is exercisable at the Company's election for a nominal exercise price in the event the Company elects not to acquire all or substantially all shares of Stanley Brothers USA and expires 60 days after the expiration of the option. The Company elected the fair value option in accordance with ASC 825-10 guidance to record its SBH Purchase Option. The SBH Purchase Option is classified as a financial asset and is remeasured at fair value at each reporting date, with changes to fair value recognized in the condensed consolidated statements of operations for the period. The use of assumptions for the fair value determination includes a high degree of subjectivity and judgment using unobservable inputs (level 3 on the fair value hierarchy), which results in estimation uncertainty. Changes in assumptions that reasonably could have been different at the reporting date may result in a higher or lower determination of fair value. For the six months ended June 30, 2025, the Company determined that there is a highly unlikely probability that the Company will exercise the SBH Purchase Option. As such the company recognized a loss of $52 within change in fair value of financial instruments in the condensed consolidated statements of operations, and the SBH Purchase Option represents a financial asset of nil within SBH purchase option and other derivative assets in the condensed consolidated balance sheets. For the three and six months ended June 30, 2024, the company recognized a loss of $34 and $985, respectively, related to the SBH Purchase Option within change in fair value of financial instruments in the condensed consolidated statements of operations. As of December 31, 2024, the SBH Purchase Option represents a financial asset of $52 within SBH purchase option and other derivative assets in the condensed consolidated balance sheets. The Monte Carlo valuation model considers multiple revenue and EBITDA outcomes for Stanley Brothers USA and other probabilities in assigning a fair value. Primary assumptions utilized include financial projections of Stanley Brothers USA and the probability and timing of exercise. As of June 30, 2025, the value of the SBH Purchase Option was nil as the exercising of the option is considered highly unlikely. The following additional assumptions are used in the fair value model of the SBH Purchase Option as of December 31, 2024:
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INVENTORIES |
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| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVENTORIES | INVENTORIES Inventories consist of the following:
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LICENSE AND MEDIA RIGHTS |
6 Months Ended |
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Jun. 30, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| LICENSE AND MEDIA RIGHTS | LICENSE AND MEDIA RIGHTS MLB Promotion Rights Agreement On October 11, 2022, the Company entered into a Promotional Rights Agreement (the "MLB Promotional Rights Agreement") with MLB Advanced Media L.P., on its own behalf and on behalf of Major League Baseball Properties, Inc., the Office of the Commissioner of Baseball, The MLB Network, LLC and the Major League Baseball Clubs (collectively, the "MLB"), pursuant to which the Company entered into a strategic partnership with MLB to promote the Company’s new NSF-Certified for Sport® product line. On May 13, 2025, the Company and MLB entered into a letter agreement ("PRA Letter Agreement") terminating the MLB Promotional Rights Agreement and waives the Company's obligation to pay the remaining aggregate rights fee of $18 million for the remainder of the term of the MLB Promotional Rights Agreement. As consideration under the MLB promotional rights agreement, the Company was committed to pay a combination of cash over the license period, along with upfront non-cash consideration in the form of equity, as well as contingent consideration in the form of contingent payments based on revenue. The PRA Letter Agreement terminates the MLB Promotional Rights Agreement. As a result of the termination, the license and media rights assets as well as the current and non-current payable previously recorded on the condensed consolidated balance sheets were written off. This write-off resulted in the recognition of a gain of $2,326 which is included in Other income (expense), net within the condensed consolidated statements of operations. The gain reflects the net impact of the derecognition of related obligation exceeding the carrying value of the associated assets. As of June 30, 2025 and December 31, 2024, the carrying value of the licensed properties was $0 and $11,691, respectively, recorded as a license and media rights asset within the condensed consolidated balance sheets. As of June 30, 2025 and December 31, 2024, the carrying value of the media rights was $0 and $3,000 recorded as a prepaid asset and a license and media rights asset within the condensed consolidated balance sheets. For the three months ended June 30, 2025 and June 30, 2024, the Company paid MLB $0, respectively, as part of the committed cash payments, and recognized $0 and $1,025, respectively, in amortization expense related to the license and media right assets. For the six months ended June 30, 2025 and June 30, 2024, the Company paid MLB $0 and $2,500, respectively, as part of the committed cash payments, and recognized $0 and $1,999, respectively, in amortization expense related to the license and media right assets. Licensed properties were amortized straight line and media rights were amortized as incurred.
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DEBT |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DEBT | DEBT Convertible Debenture On November 14, 2022, the Company entered into the Subscription Agreement with BT DE Investments, Inc., providing for the issuance of a $56.8 million (C$75.3 million) convertible debenture. The debenture is denominated in Canadian Dollars ("CAD" or "C$"). The debenture is convertible into 19.9% ownership of the Company’s common shares at a conversion price of C$2.00 per common share of the Company. The debenture will accrue interest at a stated annualized rate of 5% until such time that there is federal regulation permitting the use of CBD as an ingredient in food products and dietary supplements in the United States. Following federal regulation of CBD, the stated annualized rate of interest shall reduce to 1.5%. Interest is accrued annually and payable on the maturity date or date of earlier conversion. The maturity date for the debenture is November 14, 2029. The following is a summary of the Company's convertible debenture as of June 30, 2025:
The following is a summary of the Company's convertible debenture as of December 31, 2024:
The debenture was C$75.3 million per the subscription agreement and translated to USD on the transaction date. For the three months ended June 30, 2025 and June 30, 2024, the Company recognized a foreign currency loss of $2,600 and a gain of $430, respectively, related to the net carrying value of the debenture within the condensed consolidated statement of operations. Additionally, for the six months ended June 30, 2025 and June 30, 2024, the Company recognized a foreign currency loss of $2,538 and a gain of $1,355, respectively, related to the net carrying value of the debenture within the condensed consolidated statement of operations. Interest is accrued annually and payable on the maturity date or date of earlier conversion. On conversion, accrued interest will either be converted into common shares equal to the amount of accrued interest or will be paid in cash if agreed with the Lender. As of June 30, 2025 and June 30, 2024, the principal amount of the debenture includes $7,549 and $4,636, respectively, of accrued interest expense. The following is a summary of the interest expense and amortization expense, recorded within the statement of operation, of the Company's convertible debenture for the three and six months ended June 30, 2025 and June 30, 2024:
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COMMITMENTS AND CONTINGENCIES |
6 Months Ended |
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Jun. 30, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Legal Contingencies From time to time, the Company is a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. Although the ultimate aggregate amount of monetary liability or financial impact with respect to these matters is subject to many uncertainties and is therefore not predictable with assurance, management believes that as of June 30, 2025 there is no litigation pending that could have, individually and in the aggregate, a material adverse effect on the Company’s financial position, results of operations or cash flows.
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LEASES |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | LEASES The Company has lease arrangements related to office space, warehouse and production space, and land to facilitate agricultural operations. The leases have remaining lease terms of less than 0.2 to 9.7 years, some of which include options to extend the leases for up to five years. Generally, the lease agreements do not include options to terminate the lease. Maturities of operating lease liabilities as of June 30, 2025 are as follows:
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SHAREHOLDERS’ EQUITY |
6 Months Ended |
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Jun. 30, 2025 | |
| Equity [Abstract] | |
| SHAREHOLDERS’ EQUITY | SHAREHOLDERS’ EQUITY As of June 30, 2025 and December 31, 2024, the Company’s share capital consists of one class of issued and outstanding shares: common shares. The Company is also authorized to issue preferred shares issuable in series. To date, no shares of preferred shares have been issued or are outstanding. Common Shares As of June 30, 2025 and December 31, 2024, the Company was authorized to issue an unlimited number of common shares, which have no par value.
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LOSS PER SHARE |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LOSS PER SHARE | LOSS PER SHARE The Company computes loss per share of common shares. Basic net loss per common share is computed by dividing the net loss by the weighted-average number of common shares outstanding. Diluted loss per common share is computed by dividing the net loss by the weighted-average number of common shares together with the number of additional common shares that would have been outstanding if all potentially dilutive common shares had been issued, unless anti-dilutive. The following table sets forth the computation of basic and dilutive net loss per share attributable to common shareholders:
As of June 30, 2025 and June 30, 2024, potentially dilutive securities include stock options, restricted share units, common share warrants, and convertible debenture conversion. When the Company recognizes a net loss from continuing operations, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of diluted net loss per share. The potentially dilutive awards outstanding for each period are presented in the table below:
The Company's debenture is convertible into 19.9% ownership of the Company’s common shares at a conversion price of C$2.00 per common share of the Company. The Company can settle the convertible debenture in shares. If the convertible debenture in diluted EPS is anti-dilutive, or if the conversion value of the debenture does not exceed their conversion price for a reporting period, then the shares underlying the notes will not be reflected in the Company’s calculation of diluted EPS. For the three and six months ended June 30, 2025 and June 30, 2024, the price of the Company’s Shares did not exceed the conversion price and therefore there was no impact to potential common share diluted EPS during those periods.
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SHARE-BASED COMPENSATION |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION Stock options Stock options vest over a prescribed service period and are approved by the Company's board of directors on an award-by-award basis. Options have a prescribed service period generally lasting up to four years, with certain options vesting immediately upon issuance. Upon the exercise of any stock options, the Company issues shares to the award holder from the pool of authorized but unissued common shares. There were no options granted for the six months ended June 30, 2025. Detail of the number of stock options outstanding for the six months ended June 30, 2025 under the Company's 2015 legacy option plan and the Company's amended 2018 long term incentive plan (collectively, the "Plans") is as follows:
There were no options exercised during the six months ended June 30, 2025 and 2024, respectively. Restricted share units The Company has issued time-based restricted share units to certain employees as permitted under the Company's amended 2018 long term incentive plan (the "2018 Plan"). The restricted share units granted vest in accordance with the board-approved agreement, typically over equal installments up to four years. Upon vesting, one share of the Company’s common shares is issued for each restricted share unit awarded. The fair value of each restricted share unit granted is equal to the market price of the Company’s shares at the date of the grant. There were no shares vested during the three months ended June 30, 2025. The fair value of shares vested during the six months ended June 30, 2025 and 2024 was $106 and $946, respectively. Details of the number of restricted share units outstanding under the 2018 Plan is as follows:
Share-based Compensation Expense Share-based compensation expense for all equity arrangements for the three months ended June 30, 2025 and 2024 was $180 and $237, respectively, included in selling, general and administrative expense in the condensed consolidated statements of operations. Share-based compensation expense for all equity arrangements for the six months ended June 30, 2025 and 2024 was $367 and $1,079, respectively, included in selling, general and administrative expense in the condensed consolidated statements of operations. As of June 30, 2025, $971 of total unrecognized share-based compensation expense related to unvested options granted to employees is expected to be recognized over a weighted-average period of 2.15 years.
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INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXESThe Company reported income tax benefit (expense) of $2 and $(46) for the three months ended June 30, 2025 and 2024, respectively. Additionally, income tax benefit (expense) for the six months ended June 30, 2025 and 2024 was of $2 and $(62), respectively. The Company's effective tax rate for the three and six months ended June 30, 2025 was 0%. The Company's effective tax rate for the three and six months ended June 30, 2024 was 0.2%. The Company’s effective tax rates differ from the U.S. federal statutory rate of 21% for the three and six months ending June 30, 2025 and June 30, 2024, respectively, primarily due to the valuation allowance and the establishment of a naked credit related to the Company's investment in DeFloria. |
OPERATING SEGMENT |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OPERATING SEGMENT | OPERATING SEGMENT Segment information The Company has determined that it operates in a single operating and reportable segment, which is the production and sale of hemp-based CBD wellness products, which makes up substantially all of the revenue at this time. This is consistent with how the chief operating decision maker (the "CODM") allocates resources and assesses performance. The Company’s CODM is the executive operations committee that includes the chief executive officer, the chief financial officer, the chief operations officer and the chief people officer. The majority of Company’s products have similar characteristics due to the same raw material ingredient (CBD and derivatives), similar nature of cultivation process, the type of customer and the regulatory nature of the industry. The CODM assesses performance for this segment and decides how to allocate resources based on pre-tax net income/(loss) that is reported on the consolidated statement of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets. For the three months ended June 30, 2025 and 2024, the segment's revenues and pre-tax net loss were $12,806 and $12,289; and $6,290 and $11,011, respectively. Additionally, for the six months ended June 30, 2025 and 2024, the segment's revenues and pre-tax net loss were $25,068 and $24,413; and $12,502 and $20,629, respectively. There are no differences between segment revenues, pre-tax net loss and the Company's consolidated revenues and pre-tax net loss. General Information Factors used to Identify Reportable Segments: The Company operates as a single reportable segment, focusing primarily on the production and sale of hemp-based CBD wellness products. Products and Services: The Company's revenue is primarily derived from the production and sale of hemp-based CBD wellness products. Chief Operating Decision Maker (CODM): The Company's Chief Executive Officer, Chief Financial Officer, Chief Operations Officer, Chief Revenue Officer and Chief People Officer. Measure of Segment Profit or Loss and Total Assets: The CODM evaluates performance and allocates resources based on pre-tax net income/(loss), as presented in the accompanying financial statements. The measure of segment assets is reported on the balance sheet as total consolidated assets. Significant Segment Expenses The following significant expenses are regularly reviewed by the CODM for the three months ended June 30, 2025 and 2024 : Cost of goods sold $6,816 and $9,707, respectively; Selling, general, and administrative expenses $10,062 and $14,727, respectively; Change in fair value of financial instruments $1,543 and $1,140, respectively; and Depreciation and Amortization $512 and $2,489, respectively. The CODM reviewed the following for the six months ended June 30, 2025 and 2024 : Cost of goods sold $12,848 and $14,920, respectively; Selling, general, and administrative expenses $21,640 and $30,007 respectively; Change in fair value of financial instruments $1,669 and $720, respectively; and Depreciation and Amortization $2,961 and $4,982, respectively. Reconciliation to Consolidated Financial Statements As the Company operates as a single reportable segment, the amounts presented above align directly with the consolidated totals in the financial statements.
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RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Effective November 2020, the Company issued a secured promissory note, where $1,000 was loaned to one of the Stanley Brothers. The note receivable was secured by equity instruments with certain of the Stanley Brothers, bore interest at 3.25% per annum, and required the unpaid principal and unpaid interest balances to be paid on or before the maturity date of November 13, 2021, which date was subsequently extended. Effective November 13, 2024, the Company entered into a third amendment of the promissory note to extend the maturity date until November 13, 2029. According to the terms of the agreement, no additional interest will accrue through the payment date. The note has been fully reserved for as of December 31, 2024. On March 2, 2021, the Company entered into the SBH Purchase Option with Stanley Brothers USA as discussed above (Note 3 "Fair Value Measurement"). The SBH Purchase Option was purchased for total consideration of $8,000. Certain members of the Stanley Brothers, who are or were employees of the Company at the time, are the majority shareholders of Stanley Brothers USA. On April 6, 2023, the Company jointly formed an entity, DeFloria, with AJNA and BAT. AJNA is a botanical drug development company. AJNA is partially owned and was co-founded by a member of the Stanley Brothers. BAT holds an equity interest in the entity in the form of approximately 2,000,000 preferred units following its initial $10 million investment and has the right to participate in future equity issuances to maintain its pro rata equity position. The Company and AJNA each hold 4,000,000 of the entity's voting common units (Note 3). Effective May 1, 2023, the Company entered into an 8% interest bearing note receivable with DeFloria for the sale of lab equipment in the amount of $170. The principal and interest of the note receivable will be paid in 36 monthly installments. As of June 30, 2025 and December 31, 2024, the remaining note receivable of $37 and $71, respectively, is presented in other assets in the condensed consolidated balance sheets. On April 6, 2023, the Company and DeFloria entered into a supply agreement in which the Company shall supply raw material that will be used in the development of the new drug. The price charged by the Company is at cost of goods sold level. For the three and six months ended June 30, 2025, the Company recognized $641 in revenue and cost of goods sold, respectively, related to the supply agreement with DeFloria. Similarly, on February 12, 2024, the Company and DeFloria entered into a separate master services agreement pursuant to which the Company will be compensated for the provision of certain services to DeFloria. For the three and six months ended June 30, 2025, the Company recognized $75 and $150 in revenue and cost of goods sold, respectively, related to the service agreement with DeFloria. Additionally, the Company has an accounts receivable balance due from DeFloria of $1,059 and $648 as of June 30, 2025 and December 31, 2024, respectively. On June 21, 2024, the Company entered into a consulting agreement with Jared Stanley, former executive of the Company, and current member of the Board of Directors. In consideration for Mr. Stanley's services, he will receive a bi-weekly fee of $6. On July 15, 2025, the Company entered into a promissory note, as lender, where the Company loaned $750 to DeFloria. The note and accrued interest is due and payable by DeFloria upon the later of December 31, 2026, or the date the Company shall issue and sell units of a newly-authorized series of preferred units in a bona fide financing transaction to one or more investors for aggregate cash proceeds to DeFloria or any other convertible debt of DeFloria of not less than $10 million. Upon any event of default by DeFloria under the note, which includes DeFloria’s failure to pay amounts within 3 business days of when due and breaches of DeFloria’s obligations pursuant to the note, the Company will be entitled to exercise its rights under the note.
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES (Policies) |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP as found in the Accounting Standards Codification ("ASC") and Accounting Standards Updates ("ASU") of the Financial Accounting Standards Board ("FASB"). In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company's financial position as of June 30, 2025 and its results of operations for the three and six months ended June 30, 2025 and 2024, cash flows for the six months ended June 30, 2025 and 2024, and stockholders' equity for the three and six months ended June 30, 2025 and 2024. Operating results for the three and six months ended June 30, 2025, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2025. The unaudited interim condensed consolidated financial statements presented herein do not contain the required disclosures under U.S. GAAP for annual consolidated financial statements. Certain amounts presented in prior periods have been reclassified to conform with the current period presentation. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes as of and for the year ended December 31, 2024 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 19, 2025.
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| Inventories | Inventories Inventories are stated at the lower of cost or net realizable value. The Company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions. The Company's inventory production process for cannabinoid products includes the cultivation of botanical raw material. Due to the duration of the cultivation process, a portion of the inventory will not be sold within one year. Consistent with the practice in other industries that cultivate botanical raw materials, all inventory is classified as a current asset.
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| Revenue Recognition | Revenue Recognition The majority of the Company's revenue is derived from sales of branded products to consumers via the Company's direct-to-consumer e-commerce website, as well as distributors, retail and wholesale business-to-business customers, and health practitioners. The service revenue is due to the Company and DeFloria, Inc. ("DeFloria") entering into a Master Services Agreement ("Services Agreement") in which the Company is compensated for the provision of certain services to DeFloria.
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| Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted | Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07—Segment Reporting. The guidance was issued to provide financial statement users with more disaggregated expense information about a public entity’s reportable segments. The guidance was effective for the year ended December 31, 2024, and the expanded interim disclosures are effective in entities in 2025 and will be applied retrospectively to all prior periods presented. Refer to Note 13 "Operating Segment" for additional disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted Other than described below, no new accounting pronouncements issued by the FASB may have a material impact on the Company's consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-04, Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. The guidance clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for the Company beginning December 31, 2025. The Company is currently evaluating the effect of adopting this ASU. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The new guidance requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 is effective for the Company beginning December 31, 2026. The Company is currently evaluating the effect of adopting this ASU. In December 2023, the FASB issued a final standard on improvements to income tax disclosures, ASU 2023-09, Improvements to Income Tax Disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. For public business entities, the new requirements are effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact, if any, that the updated standard will have on the Company's consolidated financial statements and related disclosures.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Disaggregation of Revenue | The following table sets forth the disaggregation of the Company's revenue:
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FAIR VALUE MEASUREMENT (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis | The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024, by level within the fair value hierarchy:
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| Schedule of Measurement Inputs | The following additional assumptions are used in the model:
The following table provides the assumption regarding Level 2 fair value measurements inputs at their measurement dates:
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INVENTORIES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Inventories | Inventories consist of the following:
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DEBT (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Convertible Debenture | The following is a summary of the Company's convertible debenture as of June 30, 2025:
The following is a summary of the Company's convertible debenture as of December 31, 2024:
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| Schedule of Interest Expense | The following is a summary of the interest expense and amortization expense, recorded within the statement of operation, of the Company's convertible debenture for the three and six months ended June 30, 2025 and June 30, 2024:
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LEASES (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Maturities of Operating Lease Liabilities | Maturities of operating lease liabilities as of June 30, 2025 are as follows:
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LOSS PER SHARE (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Computation of Basic and Dilutive Net Loss Per Share | The following table sets forth the computation of basic and dilutive net loss per share attributable to common shareholders:
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| Schedule of Potentially Dilutive Awards | The potentially dilutive awards outstanding for each period are presented in the table below:
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SHARE-BASED COMPENSATION (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Detail of Number of Stock Options Outstanding | Detail of the number of stock options outstanding for the six months ended June 30, 2025 under the Company's 2015 legacy option plan and the Company's amended 2018 long term incentive plan (collectively, the "Plans") is as follows:
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| Schedule of Details of Number of Restricted Share Awards Outstanding | Details of the number of restricted share units outstanding under the 2018 Plan is as follows:
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OPERATING SEGMENT (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information |
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Disaggregation of Revenue [Line Items] | ||||
| Total revenue | $ 12,806 | $ 12,289 | $ 25,068 | $ 24,413 |
| Product revenue | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total revenue | 12,731 | 12,215 | 24,918 | 24,028 |
| Service revenue | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total revenue | $ 75 | $ 74 | $ 150 | $ 385 |
FAIR VALUE MEASUREMENT - Investment in Unconsolidated Entity (Details) - DeFloria, LLC |
Jun. 30, 2025
year
|
Dec. 31, 2024
year
|
|---|---|---|
| Expected term (years) | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Joint venture, measurement input | 5.0 | 5.3 |
| Volatility | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Joint venture, measurement input | 0.899 | 0.836 |
| Risk-free interest rate | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Joint venture, measurement input | 0.040 | 0.044 |
| Expected dividend yield | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Joint venture, measurement input | 0 | 0 |
| Discount for lack of marketability | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Joint venture, measurement input | 0.310 | 0.310 |
FAIR VALUE MEASUREMENT - Fair Value Measure Inputs Debt Interest Rate Conversion Option (Details) - Level 3 |
Jun. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Stated interest rate | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0.050 | 0.050 |
| Adjusted interest rate | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0.015 | 0.015 |
| Implied debt yield | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0.099 | 0.099 |
FAIR VALUE MEASUREMENT - Schedule of Level 2 Fair Value Measurements (Details) - Level 2 |
Jun. 30, 2025
$ / shares
|
Dec. 31, 2024
$ / shares
|
|---|---|---|
| Expected volatility | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0.879 | 0.879 |
| Expected term (years) | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 4.4 | 4.9 |
| Risk-free interest rate | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0.038 | 0.045 |
| Expected dividend yield | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0 | 0 |
| Value of underlying share | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 0.13 | 0.13 |
| Exercise price | ||
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
| Warrants, measurement input | 2.00 | 2.00 |
FAIR VALUE MEASUREMENT - Fair Value Measurement Inputs - Purchase Option (Details) |
Dec. 31, 2024
year
|
|---|---|
| Expected volatility | |
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
| Purchase option, measurement input | 1.120 |
| Expected term (years) | |
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
| Purchase option, measurement input | 1.2 |
| Risk-free interest rate | |
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
| Purchase option, measurement input | 0.049 |
| Weighted average cost of capital | |
| Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
| Purchase option, measurement input | 0.529 |
INVENTORIES (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Inventory Disclosure [Abstract] | ||
| Harvested hemp and seeds | $ 2,382 | $ 2,312 |
| Raw materials | 11,386 | 11,903 |
| Finished goods | 6,596 | 6,268 |
| Inventory, gross | 20,364 | 20,483 |
| Less: inventory provision | (966) | (1,576) |
| Total inventory | $ 19,398 | $ 18,907 |
LICENSE AND MEDIA RIGHTS (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
May 13, 2025 |
Dec. 31, 2024 |
|
| Other Commitments [Line Items] | ||||||
| Gain on derecognition of obligation agreement | $ 2,326 | |||||
| Licensed properties | $ 0 | 0 | $ 11,691 | |||
| License and media rights | 0 | 0 | $ 3,000 | |||
| Licensing Agreements | ||||||
| Other Commitments [Line Items] | ||||||
| Amortization | 0 | $ 1,025 | 0 | $ 1,999 | ||
| Major League Baseball Properties Inc | ||||||
| Other Commitments [Line Items] | ||||||
| Collaborative arrangement rights and obligations milestone payments payable | $ 18,000 | |||||
| Major League Baseball Properties Inc | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement | ||||||
| Other Commitments [Line Items] | ||||||
| Payments for license fee | $ 0 | $ 0 | $ 0 | $ 2,500 | ||
DEBT - Narrative (Details) - BAT Group $ / shares in Units, $ in Thousands, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2025
$ / shares
|
Dec. 31, 2024
USD ($)
|
Nov. 14, 2022
USD ($)
|
Nov. 14, 2022
CAD ($)
|
|
| Minimum | ||||||||
| Line of Credit Facility [Line Items] | ||||||||
| Accrued interest rate, percentage | 1.50% | 1.50% | ||||||
| Maximum | ||||||||
| Line of Credit Facility [Line Items] | ||||||||
| Accrued interest rate, percentage | 5.00% | 5.00% | ||||||
| Convertible Notes Payable | ||||||||
| Line of Credit Facility [Line Items] | ||||||||
| Principal amount | $ 62,962 | $ 62,962 | $ 58,172 | $ 56,800 | $ 75.3 | |||
| Convertible, ownership percentage of shares (as a percent) | 19.90% | 19.90% | ||||||
| Conversion price (in CAD per share) | $ / shares | $ 2.00 | |||||||
| Foreign currency gain (loss) | $ (2,600) | $ 430 | $ (2,538) | $ 1,355 | ||||
| Interest payable | $ 7,549 | $ 4,636 | $ 7,549 | $ 4,636 | ||||
DEBT - Schedule of Convertible Debenture (Details) - BAT Group - Convertible Notes Payable $ in Thousands, $ in Millions |
Jun. 30, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Nov. 14, 2022
USD ($)
|
Nov. 14, 2022
CAD ($)
|
|---|---|---|---|---|
| Line of Credit Facility [Line Items] | ||||
| Principal Amount | $ 62,962 | $ 58,172 | $ 56,800 | $ 75.3 |
| Unamortized Debt Discount and Costs | (14,346) | (14,541) | ||
| Net Carrying Amount | $ 48,616 | $ 43,631 |
DEBT - Schedule of Interest Expense (Details) - BAT Group - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Line of Credit Facility [Line Items] | ||||
| Interest expense | $ 749 | $ 721 | $ 1,471 | $ 1,454 |
| Amortization of debt discounts and costs | 514 | 427 | 977 | 828 |
| Total interest and amortization expense | $ 1,263 | $ 1,148 | $ 2,448 | $ 2,282 |
LEASES - Narrative (Details) |
Jun. 30, 2025 |
|---|---|
| Lessee, Lease, Description [Line Items] | |
| Renewal term | 5 years |
| Minimum | |
| Lessee, Lease, Description [Line Items] | |
| Remaining lease terms | 2 months 12 days |
| Maximum | |
| Lessee, Lease, Description [Line Items] | |
| Remaining lease terms | 9 years 8 months 12 days |
LEASES - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Operating Leases | ||
| 2025 (6 months remaining) | $ 1,286 | |
| 2026 | 2,176 | |
| 2027 | 1,844 | |
| 2028 | 1,762 | |
| 2029 | 1,806 | |
| Thereafter | 10,078 | |
| Total lease obligation | 18,952 | |
| Less: Imputed interest | (4,466) | |
| Total lease liabilities | 14,486 | |
| Less: Current lease liabilities | (1,575) | $ (2,055) |
| Total non-current lease liabilities | $ 12,911 | $ 13,652 |
SHAREHOLDERS’ EQUITY (Details) |
Jun. 30, 2025
class_share
shares
|
Dec. 31, 2024
class_share
|
|---|---|---|
| Equity [Abstract] | ||
| Number of classes of shares | class_share | 1 | 1 |
| Preferred stock, issued (in shares) | 0 | |
| Preferred stock, outstanding (in shares) | 0 |
LOSS PER SHARE - Schedule of Computation of Basic and Dilutive Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Mar. 31, 2025 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Earnings Per Share [Abstract] | ||||||
| Net loss | $ (6,288) | $ (6,212) | $ (11,057) | $ (9,634) | $ (12,500) | $ (20,691) |
| Weighted-average number of common shares - basic (in shares) | 158,611,084 | 157,227,855 | 158,313,655 | 156,632,263 | ||
| Dilutive effect of stock options and awards (in shares) | 0 | 0 | 0 | 0 | ||
| Weighted-average number of common shares - diluted (in shares) | 158,611,084 | 157,227,855 | 158,313,655 | 156,632,263 | ||
| Loss per common share – basic (in usd per share) | $ (0.04) | $ (0.07) | $ (0.08) | $ (0.13) | ||
| Loss per common share – diluted (in usd per share) | $ (0.04) | $ (0.07) | $ (0.08) | $ (0.13) | ||
LOSS PER SHARE - Schedule of Potentially Dilutive Awards (Details) - shares |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities (in shares) | 8,907,025 | 10,106,808 | 8,907,025 | 10,106,808 |
| Outstanding options | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities (in shares) | 3,238,084 | 4,523,486 | 3,238,084 | 4,523,486 |
| Outstanding restricted share units | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities (in shares) | 5,668,941 | 5,583,322 | 5,668,941 | 5,583,322 |
LOSS PER SHARE - Narrative (Details) - BAT Group - Convertible Notes Payable |
Jun. 30, 2025
$ / shares
|
|---|---|
| Line of Credit Facility [Line Items] | |
| Convertible, ownership percentage of shares (as a percent) | 19.90% |
| Conversion price (in CAD per share) | $ 2.00 |
SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Options granted (in shares) | 0 | |||
| Options exercised (in shares) | 0 | 0 | ||
| Fair value of shares vested | $ 0 | $ 106,000 | $ 946,000 | |
| Share-based compensation expense | 180,000 | $ 237,000 | 367,000 | $ 1,079,000 |
| Unrecognized share based compensation expense | $ 971,000 | $ 971,000 | ||
| Unrecognized share based compensation expense, period for recognition | 2 years 1 month 24 days | |||
| Options | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Prescribed service period | 4 years | |||
| Restricted Stock Units (RSUs) | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Vesting period | 4 years | |||
| Number of shares issued for each award (in shares) | 1 | 1 | ||
SHARE-BASED COMPENSATION - Schedule of Restricted Stock Units (Details) |
6 Months Ended |
|---|---|
|
Jun. 30, 2025
$ / shares
shares
| |
| Number of Shares | |
| Outstanding at the beginning of the period (in shares) | shares | 4,485,077 |
| Granted (in shares) | shares | 2,366,433 |
| Forfeited (in shares) | shares | (291,165) |
| Vested (in shares) | shares | (608,226) |
| Shares withheld upon vesting (in shares) | shares | (283,178) |
| Outstanding at the end of the period (in shares) | shares | 5,668,941 |
| Weighted- Average Grant Date Fair Value | |
| Outstanding at the beginning of the period (in usd per share) | $ / shares | $ 0.26 |
| Granted (in usd per share) | $ / shares | 0.09 |
| Forfeited (in usd per share) | $ / shares | 0.16 |
| Vested (in usd per share) | $ / shares | 0.17 |
| Shares withheld upon vesting (in usd per share) | $ / shares | 0.17 |
| Outstanding at the end of the period (in usd per share) | $ / shares | $ 0.19 |
INCOME TAXES (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Income Tax Disclosure [Abstract] | ||||
| Income tax benefit (expense) | $ 2 | $ (46) | $ 2 | $ (62) |
| Effective tax rate | 0.00% | 0.20% | 0.00% | 0.20% |
OPERATING SEGMENT - Narrative (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2025
USD ($)
segment
|
Jun. 30, 2024
USD ($)
|
|
| Segment Reporting Information [Line Items] | ||||
| Number of operating segments | segment | 1 | |||
| Number of reportable segments | segment | 1 | |||
| Revenue | $ 12,806 | $ 12,289 | $ 25,068 | $ 24,413 |
| Loss before provision for income taxes | (6,290) | (11,011) | (12,502) | (20,629) |
| Cost of goods sold | 6,816 | 9,707 | 12,848 | 14,920 |
| Selling, general and administrative expenses | 10,062 | 14,727 | 21,640 | 30,007 |
| Change in fair value of financial instruments | (1,543) | 1,140 | (1,669) | (720) |
| Depreciation and amortization | 2,961 | 4,982 | ||
| Reportable Segment | ||||
| Segment Reporting Information [Line Items] | ||||
| Revenue | 12,806 | 12,289 | 25,068 | 24,413 |
| Loss before provision for income taxes | (6,290) | (11,011) | (12,502) | (20,629) |
| Cost of goods sold | 6,816 | 9,707 | 12,848 | 14,920 |
| Selling, general and administrative expenses | 10,062 | 14,727 | 21,640 | 30,007 |
| Change in fair value of financial instruments | (1,543) | 1,140 | (1,669) | (720) |
| Depreciation and amortization | $ 512 | $ 2,489 | $ 2,961 | $ 4,982 |