| Segment Reporting Disclosure [Text Block] |
Note 25. Segment reporting
Our Company’s Chief Operating Decision Maker (“CODM”) is the Chairman of the Board of Directors and Chief Executive Officer. The CODM uses segment gross profit for the purpose of resource allocation, assessment of segment performance against determined targets, and in deciding whether to implement cost saving targets. The Company operates in four segments. 1) cannabis operations, which encompasses the production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis, 2) beverage operations, which encompasses the production, marketing and sale of beverage products, 3) distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers, and 4) wellness products, which encompasses wellness and better-for-you foods and beverages. This structure is in line with how our CODM assesses our performance and allocates resources.
Operating segments have not been aggregated and no asset information is provided for the segments because the Company’s CODM does not receive asset information by segment on a regular basis.
The following tables reconcile the Company’s segment gross profit to consolidated U.S. GAAP results:
| | | For the three months ended | | | For the nine months ended | |
| | | February 28, | | | February 28, | | | February 28, | | | February 28, | |
| | | 2026 | | | 2025 | | | 2026 | | | 2025 | |
| Beverage | | | | | | | | | | | | | | | | |
| Net beverage revenue | | $ | 42,558 | | | $ | 55,921 | | | $ | 148,380 | | | $ | 174,974 | |
| Beverage costs | | | 28,977 | | | | 35,986 | | | | 97,741 | | | | 106,961 | |
| Beverage gross profit | | | 13,581 | | | | 19,935 | | | | 50,639 | | | | 68,013 | |
| Cannabis | | | | | | | | | | | | | | | | |
| Net cannabis revenue | | | 64,828 | | | | 54,274 | | | | 196,871 | | | | 181,175 | |
| Cannabis costs | | | 38,858 | | | | 32,275 | | | | 121,497 | | | | 111,804 | |
| Cannabis gross profit | | | 25,970 | | | | 21,999 | | | | 75,374 | | | | 69,371 | |
| Distribution | | | | | | | | | | | | | | | | |
| Distribution revenue | | | 82,963 | | | | 61,493 | | | | 242,286 | | | | 197,175 | |
| Distribution costs | | | 72,951 | | | | 55,936 | | | | 213,293 | | | | 175,281 | |
| Distribution gross profit | | | 10,012 | | | | 5,557 | | | | 28,993 | | | | 21,894 | |
| Wellness | | | | | | | | | | | | | | | | |
| Wellness revenue | | | 16,383 | | | | 14,092 | | | | 46,203 | | | | 43,450 | |
| Wellness costs | | | 10,992 | | | | 9,572 | | | | 31,289 | | | | 29,791 | |
| Wellness gross profit | | | 5,391 | | | | 4,520 | | | | 14,914 | | | $ | 13,659 | |
| Total | | | | | | | | | | | | | | | | |
| Total revenue | | | 206,732 | | | | 185,780 | | | | 633,740 | | | | 596,774 | |
| Total costs | | | 151,778 | | | | 133,769 | | | | 463,820 | | | | 423,837 | |
| Total gross profit | | $ | 54,954 | | | $ | 52,011 | | | $ | 169,920 | | | $ | 172,937 | |
Segment costs are comprised of cost of goods sold, which include product costs, salaries and an allocation of overhead costs.
The following table reconciles the total segment gross profit to the Company’s consolidated totals:
| | | For the three months ended | | | For the nine months ended | |
| | | February 28, | | | February 28, | | | February 28, | | | February 28, | |
| | | 2026 | | | 2025 | | | 2026 | | | 2025 | |
| Gross profit | | $ | 54,954 | | | $ | 52,011 | | | $ | 169,920 | | | $ | 172,937 | |
| Operating expenses: | | | | | | | | | | | | | | | | |
| General and administrative | | | 50,228 | | | | 39,246 | | | | 142,456 | | | | 129,356 | |
| Selling | | | 10,617 | | | | 13,905 | | | | 35,321 | | | | 41,757 | |
| Amortization | | | 5,106 | | | | 23,182 | | | | 13,393 | | | | 67,913 | |
| Marketing and promotion | | | 8,692 | | | | 6,793 | | | | 28,828 | | | | 28,079 | |
| Research and development | | | 62 | | | | 85 | | | | 181 | | | | 250 | |
| Change in fair value of contingent consideration | | | — | | | | — | | | | (15,000 | ) | | | — | |
| Impairment of intangible assets and goodwill | | | — | | | | 699,235 | | | | — | | | | 699,235 | |
| Other than temporary change in fair value of convertible notes receivable | | | — | | | | 20,000 | | | | — | | | | 20,000 | |
| Litigation costs, net of recoveries | | | 621 | | | | 2,758 | | | | 2,497 | | | | 5,254 | |
| Restructuring costs | | | 4,087 | | | | 6,133 | | | | 5,921 | | | | 17,249 | |
| Transaction costs (income), net | | | 1,927 | | | | 605 | | | | 2,896 | | | | 2,563 | |
| Total operating expenses | | | 81,340 | | | | 811,942 | | | | 216,493 | | | | 1,011,656 | |
| Operating loss | | | (26,386 | ) | | | (759,931 | ) | | | (46,573 | ) | | | (838,719 | ) |
| Interest expense, net | | | (4,965 | ) | | | (8,378 | ) | | | (17,035 | ) | | | (25,986 | ) |
| Non-operating income (expense), net | | | 8,092 | | | | (24,022 | ) | | | (386 | ) | | | (44,631 | ) |
| Loss before income taxes | | | (23,259 | ) | | | (792,331 | ) | | | (63,994 | ) | | | (909,336 | ) |
| Income tax expense (recovery), net | | | 1,974 | | | | 1,203 | | | | 3,235 | | | | 4,125 | |
| Net loss | | $ | (25,233 | ) | | $ | (793,534 | ) | | $ | (67,229 | ) | | $ | (913,461 | ) |
Channels of Cannabis revenue were as follows:
| | | For the three months ended | | | For the nine months ended | |
| | | February 28, | | | February 28, | | | February 28, | | | February 28, | |
| | | 2026 | | | 2025 | | | 2026 | | | 2025 | |
| Revenue from Canadian medical cannabis | | $ | 5,979 | | | $ | 5,839 | | | $ | 18,359 | | | $ | 18,773 | |
| Revenue from Canadian adult-use cannabis | | | 52,570 | | | | 49,315 | | | | 179,085 | | | | 165,627 | |
| Revenue from wholesale cannabis | | | 1,165 | | | | 3,893 | | | | 6,666 | | | | 15,993 | |
| Revenue from international cannabis | | | 24,121 | | | | 13,935 | | | | 57,668 | | | | 40,991 | |
| Less excise taxes | | | (19,007 | ) | | | (18,708 | ) | | | (64,907 | ) | | | (60,209 | ) |
| Total | | $ | 64,828 | | | $ | 54,274 | | | $ | 196,871 | | | $ | 181,175 | |
Geographic net revenue:
| | | For the three months ended | | | For the nine months ended | |
| | | February 28, | | | February 28, | | | February 28, | | | February 28, | |
| | | 2026 | | | 2025 | | | 2026 | | | 2025 | |
| USA | | $ | 51,683 | | | $ | 64,420 | | | $ | 173,482 | | | $ | 200,053 | |
| Canada | | | 48,221 | | | | 45,930 | | | | 160,561 | | | | 158,555 | |
| EMEA | | | 104,955 | | | | 72,386 | | | | 293,363 | | | | 229,312 | |
| Rest of World | | | 1,873 | | | | 3,044 | | | | 6,334 | | | | 8,854 | |
| Total | | $ | 206,732 | | | $ | 185,780 | | | $ | 633,740 | | | $ | 596,774 | |
Geographic capital assets:
| | | February 28, | | | May 31, | |
| | | 2026 | | | 2025 | |
| USA | | $ | 188,500 | | | $ | 200,003 | |
| Canada | | | 251,645 | | | | 267,458 | |
| EMEA | | | 98,571 | | | | 97,371 | |
| Rest of World | | | 4,292 | | | | 3,601 | |
| Total | | $ | 543,008 | | | $ | 568,433 | |
Major customers are defined as customers that are materially significant to the Company’s annual revenues. For the three and nine months ended February 28, 2026 and 2025, there were no major customers representing a material contribution to our quarterly revenues.
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