v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss before noncontrolling interest $ (255,485) $ (16,952)
Adjustments for:    
Fair value gain on financial liabilities (63,088) (83,759)
Stock-based compensation 46,115 27,155
Stock-based compensation - related parties 707  
Depreciation and amortization 21,050 8,125
Amortization on intangible assets 71,789 50,709
Impairment of goodwill 148,531  
Share of loss on equity investments   32
Gain on disposal of equity investments   (178)
Gain (loss) on disposal of property, plant, and equipment (8) 50
Incremental costs to acquire cannabis inventory in a business combination 6,216 43,864
Deferred tax benefit (1,558) (16,559)
Amortization on financing costs 2,292 1,744
Amortization on financing premium (3,018) (402)
Changes in operating assets and liabilities, net of business combinations:    
Accounts receivable (989) (3,916)
Inventory (18,235) (50,956)
Prepaid expenses, deposits, and other current assets 1,833 (2,326)
Trade payables (7,087) (1,430)
Accrued liabilities 92 7,943
Accrued interest payable (2,685) 1,446
Lease liabilities - operating 2,272 1,912
Income tax payable 17,091 5,717
Cash used in operating activities (34,165) (27,781)
Investing activities    
Purchase of property, plant, and equipment (62,497) (91,630)
Capitalized interest (14,927) (8,373)
Proceeds from the sale of assets, net of transaction costs 31,433  
Cash paid for business combinations and asset acquisitions, net of cash acquired (11,546) (92,270)
Cash paid for business combinations and asset acquisitions, bridge financing   (22,750)
Cash paid for business combinations and asset acquisitions, working capital (2,205) (4,359)
Payments for interests in equity accounted investments   (82)
Cash received in disposal of equity investment   1,000
Payments made by related corporation   135
Purchase of intangible asset (4,000)  
Cash received (paid) for bridge financing 70 (1,200)
Deposits for business combinations, net of cash on hand (2,825) (100)
Cash used in investing activities (66,497) (219,629)
Financing activities    
Proceeds from exercise of warrants   55,692
Proceeds from exercise of options 300 315
Proceeds from financing transaction, net of financing costs 27,600 148,646
Proceeds from equity offering, net of expenses   118,052
Proceeds from issuance of notes payable, net of financing costs 51,713  
Payments of financing costs   (2,142)
Payment for settlement of contingent consideration (10,000)  
Deposits paid for financing lease and note payable (924)  
Tax withholding on stock-based compensation awards (5,258) (28,536)
Repayments of debts payable (17,924) (8,749)
Repayments of lease liabilities - finance (principal portion) (10,117) (6,949)
Repurchase of Equity Shares (8,430) (1,815)
Cash provided by financing activities 26,960 274,514
Net (decrease) increase in cash (73,702) 27,104
Cash, beginning of the period 154,342 127,238
Cash, end of the period 80,640 154,342
Supplemental disclosure of cash flow information:    
Interest paid during the period, net 49,820 14,244
Income taxes paid during the period 30,915 41,303
Non-cash investing and financing activities:    
Recognition of right-of-use assets for operating leases 54,396 68,578
Recognition of right-of-use assets for finance leases 32,444 18,576
Issuance of promissory note related to business combinations 16,000  
Issuance of Equity Shares related to business combinations and asset acquisitions 6,352 576,196
Issuance of Equity Shares related to equity component of debt   7,429
Issuance of Equity Shares related to settlement of contingent consideration 11,748  
Issuance of promissory note related to settlement of contingent consideration 14,934  
Repurchase of Equity Shares   $ 7,193
Cancellation of Equity Shares 78  
Capital expenditure disbursements for cultivation facility $ 8,402