SUPPLEMENTARY FINANCIAL INFORMATION (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Inventories |
Inventories are comprised of the following as of: | | | | | | | | | | | | | June 30,
2025 | | December 31,
2024 | | | | | | (in thousands) | | Raw materials | | | | | Cannabis plants | $ | 18,275 | | | $ | 20,986 | | | Packaging and supplies | 26,215 | | | 30,208 | | | Total raw materials | 44,490 | | | 51,194 | | | Work in process | 135,137 | | | 125,168 | | | Finished goods - unmedicated | 7,312 | | | 6,354 | | | Finished goods - medicated | 54,525 | | | 48,655 | | Total inventories | $ | 241,464 | | | $ | 231,371 | |
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| Schedule of Stated Maturities of Notes Receivable |
| | | | | | | | | | | | | | | | | June 30,
2025 | | December 31,
2024 | | | | | | | | (in thousands) | | Notes receivable, gross | | $ | 7,062 | | | $ | 12,494 | | | | | | | | Less: allowance for credit losses | | (3,438) | | | (7,216) | | | Less: current portion of notes receivable | | (3,099) | | | (4,750) | | | Notes receivable, net | | $ | 525 | | | $ | 528 | |
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| Schedule of Fair Value of Financial Instruments by Class |
The fair values of financial instruments measured on a recurring basis by class are as follows as of: | | | | | | | | | | | | | | | | | | | Fair Value Hierarchy Level (1) | | June 30, 2025 | | December 31, 2024 | | | | | | | Financial Assets: | | | | | | Money market funds (2) | Level 1 | | $ | 381,992 | | | $ | 204,314 | | Certificates of deposit (3) | Level 1 | | — | | | 60,393 | | | Total financial assets | | | $ | 381,992 | | | $ | 264,707 | | | Financial Liabilities: | | | | | | Interest rate swap (4) | Level 2 | | $ | 1,807 | | | $ | 1,011 | |
| | | | | | | | (1) There were no transfers between hierarchy levels during the periods ending June 30, 2025 or December 31, 2024. | (2) Interest income from money market funds was $3.5 million and $3.7 million for the three months ended June 30, 2025 and 2024, respectively, and was $6.3 million and $6.6 million for the six months ended June 30, 2025 and 2024, respectively. | (3) The certificates of deposit outstanding at December 31, 2024 matured in the first quarter of 2025. Interest income from certificates of deposit was $0.1 million for the three and six months ended June 30, 2025. | (4) The fair value of the interest rate swap liability is recorded in other long-term liabilities on the condensed consolidated balance sheets. |
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| Schedule of Stock Option Activity |
The following table summarizes the Company's stock option activity for the six months ended June 30, 2025:
| | | | | | | Number of options | | Outstanding options, beginning of period | 4,636,067 | Granted (1) | 2,141,172 | | | | Forfeited | (45,268) | | Expired | (751,410) | | Outstanding options, end of period | 5,980,561 | | Vested and exercisable options, end of period | 3,250,371 |
| | | | | | | | (1) The weighted average exercise price for stock options granted was $4.03. |
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| Schedule of Restricted Stock Units Activity |
The following table summarizes the Company's restricted stock unit ("RSU") activity for the six months ended June 30, 2025: | | | | | | | Number of
restricted stock units | | Unvested balance, beginning of period | 3,179,644 | Granted (1) | 4,608,711 | | Vested | (162,306) | | Forfeited | (82,884) | | Unvested balance, end of period | 7,543,165 |
| | | | | | | | (1) The weighted average grant date fair value of RSUs granted was $3.98. |
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| Schedule of Revenue Disaggregation |
Revenue is comprised of the following for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | | | | | | | | | (in thousands) | | Retail | $ | 283,876 | | | $ | 289,313 | | | $ | 565,849 | | | $ | 574,307 | | Wholesale and other | 18,210 | | | 14,129 | | | 33,997 | | | 26,754 | | Total revenue | $ | 302,086 | | | $ | 303,442 | | | $ | 599,846 | | | $ | 601,061 | |
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