Note 16 - Non-controlling Interests

3 Months Ended

Aug. 31, 2026

Notes to Financial Statements

Noncontrolling Interest Disclosure [Text Block]

Note 16. Non-controlling interests

The following table provides a summary of certain balance sheet information as of August 31, 2026, before intercompany eliminations, relating to several entities in which the Company maintains a majority ownership with a third-party non-controlling interest, including Enroot (75% ownership), Aphria Diamond (51% ownership), and Colcanna S.A.S. (90% ownership):

						*Aphria*				*ColCanna*				*August 31,*
		*Enroot*				*Diamond*				*S.A.S.*				*2026*
Current assets		$	218			$	114,803			$	2			$	115,023
Non-current assets			—				101,375				4,313				105,688
Current liabilities			(19	)			(126,709	)			(7,185	)			(133,913	)
Non-current liabilities			—				(36,074	)			(1,442	)			(37,516	)
Net assets		$	199			$	53,395			$	(4,312	)		$	49,282

The following table provides a summary of certain balance sheet information as of May 31, 2026, before intercompany eliminations, relating to the above-referenced majority-owned subsidiaries of the Company in which there was a non-controlling interest:

						*Aphria*				*ColCanna*				*May 31,*
		*Enroot*				*Diamond*				*S.A.S.*				*2026*
Current assets		$	201			$	110,664			$	1			$	110,866
Non-current assets			—				105,278				3,756				109,034
Current liabilities			(4	)			(129,883	)			(7,147	)			(137,034	)
Non-current liabilities			—				(38,231	)			(1,440	)			(39,671	)
Net assets		$	197			$	47,828			$	(4,830	)		$	43,195

The following table provides a summary of certain income statement information for the three months ended August 31, 2026, before intercompany eliminations, relating to the above referenced majority-owned subsidiaries of the Company in which there was a non-controlling interest:

						*Aphria*				*ColCanna*				*August 31,*
		*Enroot*				*Diamond*				*S.A.S.*				*2026*
Revenue		$	—			$	14,868			$	—			$	14,868
Total expenses			—				8,738				(1,053	)			7,685
Net (loss) income			—				6,130				1,053				7,183
Other comprehensive (loss) income			2				(563	)			(535	)			(1,096	)
Net comprehensive (loss) income		$	2			$	5,567			$	518			$	6,087
Non-controlling interest %			25	%			49	%			10	%		NA
Net comprehensive (loss) income attributable to NCI		$	1			$	2,728			$	52			$	2,781

The following table provides a summary of certain income statement information for the three months ended August 31, 2025, before intercompany eliminations, relating to the above referenced majority-owned subsidiaries of the Company in which there was a non-controlling interest:

		*Aphria*				*ColCanna*				*August 31,*
		*Diamond*				*S.A.S.*				*2025*
Revenue		$	18,102			$	—			$	18,102
Total expenses			13,497				(186	)			13,311
Net (loss) income			4,605				186				4,791
Other comprehensive (loss) income			(911	)			(147	)			(1,058	)
Net comprehensive (loss) income		$	3,694			$	39			$	3,733
Non-controlling interest %			49	%			10	%		NA
Net comprehensive (loss) income attributable to NCI		$	1,810			$	4			$	1,814