v3.25.2
Share Capital (Tables)
6 Months Ended
Jun. 30, 2025
Disclosure of Share Capital [Line Items]  
Schedule of Common Stock Outstanding Roll Forward

A reconciliation of the beginning and ending amounts of the issued and outstanding shares by class is as follows:

 

 

 

Issued and Outstanding

 

 

Subordinate
Voting
Shares

 

Multiple
Voting
Shares

 

Super
Voting
Shares

As at January 1, 2025

 

211,128,045

 

37,623

 

206,690

Issuance of shares associated with investment interests

 

77,525

 

 

Distribution of deferred shares

 

244,986

 

 

Issuance of shares upon exercise of options

 

204,988

 

 

Issuances of shares upon vesting of RSUs

 

1,179,778

 

 

Issuance of shares to non-employee contractors

 

27,873

 

 

Repurchase of Subordinate Voting Shares

 

(5,718,000)

 

 

As at June 30, 2025

 

207,145,195

 

37,623

 

206,690

Schedule Of Distribution Of Deferred Shares With Related Activities

The following table summarizes the activity during the six months ended June 30, 2025:

 

 

Related Acquisition

 

Mobley Pain Management and Wellness Center, LLC and Canwell Processing, LLC

LeafLine Industries, LLC

Total

 

 

 

 

As at January 1, 2025

168,333

76,665

244,998

Distributed Shares

(168,333)

(76,653)

(244,986)

Cancelled Shares

(12)

(12)

As at June 30, 2025

Share-based Payment Arrangement, Option, Activity

Stock option activity is summarized as follows:

 

Number of Shares

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life

Balance as of December 31, 2024

8,238,472

$10.10

4.07

Granted

954,402

5.94

 

Exercised

(204,988)

6.52

 

Forfeited

(869,817)

9.10

 

Balance as of June 30, 2025

8,118,069

$11.31

4.37

Exercisable as of June 30, 2025

5,725,505

$0.00

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company used the Black-Scholes option pricing model to estimate the fair value of the options granted during the six months ended June 30, 2025 and the year ended December 31, 2024, using the following ranges of assumptions:

 

June 30,

December 31,

 

2025

2024

Risk-free interest rate

3.75% - 4.33%

2.72% - 3.92%

Expected dividend yield

0%

0%

Expected volatility

62% - 64%

62% - 64%

Expected option life

3.76 - 4.68 years

4.46 - 4.5 years

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense for the three and six months ended June 30, 2025 and 2024 was as follows:

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2025

 

2024

 

2025

 

2024

 

 

(in thousands)

 

(in thousands)

Stock options expense

$

1,766

$

2,637

$

3,859

$

5,694

Restricted Stock Units

 

10,200

 

6,229

 

18,416

 

9,662

Total Stock Based Compensation Expense

$

11,966

$

8,866

$

22,275

$

15,356

Restricted Stock Units  
Disclosure of Share Capital [Line Items]  
Non-vested Restricted Stock Shares Activity

The following table summarizes the number of unvested RSU awards as of June 30, 2025 and December 31, 2024 and the changes during the six months ended June 30, 2025:

 

 

Number of Shares

 

Weighted Average Grant Date Fair Value

Unvested Shares at December 31, 2024

 

7,678,310

$

11.14

Granted

 

5,482,366

 

5.79

Forfeited

 

(901,850)

 

9.21

Vested

 

(1,179,778)

 

11.59

Unvested Shares at June 30, 2025

 

11,079,048

$

8.49