v3.26.1
OPERATING SEGMENT
 6 Months Ended
Jun. 30, 2026
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 income/(loss) that is reported on the condensed consolidated statement of operations. The measure of segment assets is reported on the condensed consolidated balance sheets as total assets. For the three months ended June 30, 2026 and 2025, the segment's revenues and pre-tax loss were $10,855 and $12,806; and $4,092 and $6,290, respectively. Additionally, for the six months ended June 30, 2026 and 2025, the segment's revenues and pre-tax loss were $22,014 and $25,068; and $17,207 and $12,502, respectively. There are no differences between segment revenues, pre-tax loss and the Company's consolidated revenues and pre-tax 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, and Chief People Officer.
Measure of Segment Profit or Loss and Total Assets: The CODM evaluates performance and allocates resources based on pre-tax 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, 2026 and 2025: Cost of goods sold $5,698 and $6,816, respectively; Selling, general, and administrative expenses $9,515 and $10,062, respectively; Change in fair value of financial instruments $5,557 and $1,543, respectively; Loss from extinguishment of debt $4,216 and $—, respectively; and Depreciation and Amortization $1,494 and $512, respectively.
The CODM reviewed the following for the six months ended June 30, 2026 and 2025: Cost of goods sold $11,653 and $12,848, respectively; Selling, general, and administrative expenses $19,043 and $21,640 respectively; Change in fair value of financial instruments $3,311 and $1,669, respectively; Loss from extinguishment of debt $4,216 and $—, respectively; and Depreciation and Amortization $3,171 and $2,961, 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.

Three Months Ended
June 30,		Six Months Ended
June 30,
2026
2025
2026
2025
Product Revenue
$
10,780
$
12,731
$
21,864
$
24,918
Service Revenue
75
75
150
150
Total Revenue
$
10,855
$
12,806
$
22,014
$
25,068
Cost of goods sold
5,698
6,816
11,653
12,848
Gross profit
$
5,157
$
5,990
$
10,361
$
12,220
Gross profit %
47.5 
%
46.8 
%
47.1 
%
48.7 
%
Selling, general, and administrative expenses
9,515
10,062
19,043
21,640
Operating loss
$
(4,358)
$
(4,072)
$
(8,682)
$
(9,420)
Change in fair value of financial instruments
5,557
(1,543)
(3,311)
(1,669)
Loss from extinguishment of debt
(4,216)
—
(4,216)
—
Other income (expense), net
(1,075)
(675)
(998)
(1,413)
Loss before provision for income taxes
$
(4,092)
$
(6,290)
$
(17,207)
$
(12,502)
Other segment information
Depreciation/Amortization
3,171 
2,961 
Total assets
76,389 
87,976 
Long-term liabilities
12,069 
62,683