1. Nature of operations
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TerrAscend Corp. (the \"Issuer\") was incorporated under the Business Corporations Act (Ontario) on March 7, 2017. The Issuer, through its subsidiaries, including TerrAscend Growth Corp. (\u201cTerrAscend\u201d) and its subsidiaries (collectively, \"the Company\u201d), is a leading North American cannabis company. TerrAscend has vertically-integrated licensed operations in Pennsylvania, New Jersey, Maryland and California. In addition, the Company has retail operations in Ohio and Ontario, Canada with a majority-owned dispensary in Toronto, Ontario, Canada. In the United States, TerrAscend\u2019s cultivation and manufacturing provide product selection to both the medical and legal adult-use markets. Notwithstanding the fact that various states in the United States have implemented medical marijuana laws or have otherwise legalized the use of cannabis, the use of cannabis remains illegal under United States (\"United States\" or \"U.S.\") federal law for any purpose, by way of the Controlled Substances Act of 1970.
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The Company operates under one reportable segment, which is the cultivation, production and sale of cannabis products.
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The Company owns a portfolio of operating businesses, including:
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The common shares in the capital of the Company (\"Common Shares\") commenced trading on the Canadian Securities Exchange on May 3, 2017 under the ticker symbol \"TER\" and continued trading on the CSE until the listing of the Common Shares on the Toronto Stock Exchange (the \"TSX\"). Effective July 4, 2023, the Common Shares commenced trading on the TSX under the ticker symbol \"TSND\". The Common Shares commenced trading on the OTCQX in the United States on October 22, 2018 under the ticker symbol \"TRSSF\", which was subsequently changed to \"TSNDF\", effective July 6, 2023. The Company\u2019s registered office is located at 77 City Centre Drive, Suite 501, Mississauga, Ontario, L5B 1M5, Canada.
"}]},{"name":"rpt:f-382","factDimensions":{"xbrl:concept":"dei:EntityIncorporationDateOfIncorporation","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"2017-03-07"}]},{"name":"rpt:f-383","factDimensions":{"xbrl:concept":"tsndf:NumberOfMajorityOwnedOperationInDispensaries","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"tsndf:Dispensary","srt:StatementGeographicalAxis":"stpr:NJ"},"factValues":[{"value":"4"}]},{"name":"rpt:f-384","factDimensions":{"xbrl:concept":"tsndf:NumberOfMajorityOwnedOperationInDispensaries","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"tsndf:Dispensary","srt:StatementGeographicalAxis":"stpr:MD"},"factValues":[{"value":"4"}]},{"name":"rpt:f-385","factDimensions":{"xbrl:concept":"tsndf:NumberOfMajorityOwnedOperationInDispensaries","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"tsndf:Dispensary","srt:StatementGeographicalAxis":"stpr:PA"},"factValues":[{"value":"6"}]},{"name":"rpt:f-386","factDimensions":{"xbrl:concept":"tsndf:NumberOfMajorityOwnedOperationInDispensaries","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"tsndf:Dispensary","srt:StatementGeographicalAxis":"stpr:CA"},"factValues":[{"value":"4"}]},{"name":"rpt:f-387","factDimensions":{"xbrl:concept":"tsndf:NumberOfMajorityOwnedOperationInDispensaries","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"tsndf:Dispensary","srt:StatementGeographicalAxis":"stpr:OH"},"factValues":[{"value":"1"}]},{"name":"rpt:f-388","factDimensions":{"xbrl:concept":"us-gaap:SignificantAccountingPoliciesTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"These unaudited interim condensed consolidated financial statements included herein (the \u201cConsolidated Financial Statements\u201d) of the Company and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America (\"GAAP\").
The accompanying Consolidated Financial Statements contained in this report are unaudited. In the opinion of management, these Consolidated Financial Statements have been prepared on the same basis as the annual consolidated financial statements and notes thereto of the Company and include all adjustments, consisting only of normal recurring adjustments, considered necessary for the fair presentation of the Company\u2019s financial position and operating results. The results for the three months ended March 31, 2026 are not necessarily indicative of the operating results for the year ended December 31, 2026, or any other interim or future periods.
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The accompanying Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and notes thereto of the Company for the year ended December 31, 2025 contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission (the \"SEC\") on March 12, 2026 (the \"Annual Report\").
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Certain prior period amounts, primarily related to discontinued operations, have been reclassified in the Consolidated Financial Statements and accompanying notes to conform to the current period presentation. Unless otherwise noted, amounts and disclosures
throughout these notes to the Consolidated Financial Statements relate solely to continuing operations and exclude all discontinued operations. See Note 7 for additional information.
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There were no significant changes to the policies disclosed in Note 2 of the summary of significant accounting policies of the Company\u2019s audited consolidated financial statements for the year ended December 31, 2025 in the Company's Annual Report.
These unaudited interim condensed consolidated financial statements included herein (the \u201cConsolidated Financial Statements\u201d) of the Company and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America (\"GAAP\").
The accompanying Consolidated Financial Statements contained in this report are unaudited. In the opinion of management, these Consolidated Financial Statements have been prepared on the same basis as the annual consolidated financial statements and notes thereto of the Company and include all adjustments, consisting only of normal recurring adjustments, considered necessary for the fair presentation of the Company\u2019s financial position and operating results. The results for the three months ended March 31, 2026 are not necessarily indicative of the operating results for the year ended December 31, 2026, or any other interim or future periods.
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The accompanying Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and notes thereto of the Company for the year ended December 31, 2025 contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission (the \"SEC\") on March 12, 2026 (the \"Annual Report\").
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Certain prior period amounts, primarily related to discontinued operations, have been reclassified in the Consolidated Financial Statements and accompanying notes to conform to the current period presentation. Unless otherwise noted, amounts and disclosures
throughout these notes to the Consolidated Financial Statements relate solely to continuing operations and exclude all discontinued operations. See Note 7 for additional information.
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There were no significant changes to the policies disclosed in Note 2 of the summary of significant accounting policies of the Company\u2019s audited consolidated financial statements for the year ended December 31, 2025 in the Company's Annual Report.
"}]},{"name":"rpt:f-390","factDimensions":{"xbrl:concept":"us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company consolidates entities in which it has a controlling financial interest by evaluating whether the entity is a voting interest entity (\u201cVOE\u201d) or a variable interest entity (\u201cVIE\u201d).
In connection with the listing of its Common Shares on the TSX, the Company undertook a strategic reorganization of its ownership structure (the \u201c2023 Reorganization\u201d) to align with TSX regulatory requirements regarding U.S. based operations, in accordance with the TSX's Staff Notice 2017-0009. Specifically, the 2023 Reorganization was designed to separate the Company\u2019s Canadian retail operations from its U.S. cultivation and manufacturing businesses in a manner that supports compliance with applicable listing standards while preserving the Company\u2019s ability to consolidate the financial results of its U.S. operations under U.S. GAAP. Following the completion of the 2023 Reorganization, the Company holds a 95% equity interest in its Canadian retail business and maintains a variable interest in its U.S. operations, which are consolidated through a VIE model. The Company continues to consolidate both operations under two distinct consolidation models in accordance with ASC 810, Consolidation (\"ASC 810\").
Subsequent to the 2023 Reorganization, all operations in the United States have a functional currency of the U.S. dollar (\"USD\"). Canadian operations continue to have a functional currency of the Canadian dollar (\"CAD\").
Voting Interest Entities
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A VOE is an entity in which (1) the total equity investment at risk is deemed sufficient to absorb the expected losses of the entity, (2) the at-risk equity holders, as a group, have all of the characteristics of a controlling financial interest and (3) the entity is structured with substantive voting rights. The Company consolidates the Canadian operations under a VOE model based on the controlling financial interest obtained through Common Shares with substantive voting rights.
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The Company\u2019s Canadian retail operations are conducted through a subsidiary that is 95% owned by TerrAscend Canada, a wholly owned subsidiary of the Issuer. These operations are consolidated under the VOE model based on the controlling financial interest obtained through Common Shares with substantive voting rights. The remaining Canadian subsidiaries are either wholly owned or majority owned, and are not currently engaged in active operations.
Variable Interest Entities
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A VIE is an entity that lacks one or more characteristics of a controlling financial interest defined under the voting interest model. The Company consolidates VIE when it has a variable interest that provide it with (1) the power to direct the activities of a VIE that most significantly impact the VIE\u2019s economic performance (power) and (2) the obligation to absorb losses of the VIE that potentially could be significant to the VIE or the right to receive benefits from the VIE that potentially could be significant to the VIE (benefits).
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In connection with the 2023 Reorganization, TerrAscend issued and sold, on a private placement basis, Class A shares in the capital of TerrAscend (\"Class A Shares\") for aggregate gross proceeds of $1,000 to an investor (\"Investment\"). See Note 10 for accounting treatment of the Class A Shares. Following the closing of the Investment, the Class B shares (\"Class B Shares\") in the capital of TerrAscend held by the Company, representing all of the issued and outstanding Class B Shares, were automatically exchanged for non-voting, non-participating exchangeable shares in the capital of TerrAscend (\"Non-Voting Shares\"), representing approximately 99.8% of the issued and outstanding shares of TerrAscend on an as-converted basis. As a result of the limited rights associated with Non-Voting Shares that the Company holds following the closing of the Investment, the Company and TerrAscend entered into a protection agreement dated April 18, 2023 (\"Protection Agreement\"). The Protection Agreement provides for certain negative covenants in order to preserve the value of the Non-Voting Shares until such time as the Non-Voting Shares are converted into Class A Shares.
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The Issuer determined that TerrAscend is a VIE, as all of the Company\u2019s U.S. activities continue to be conducted on behalf of the Company which has disproportionately few voting rights. After conducting an analysis of the following VIE factors; purpose and design of the VIE, the Protection Agreement in place, the structure of the Company's board of directors (the \"Board\"), and substantive kick-out rights of the holders of the Class A Shares, it was determined that the Company has the power to direct the activities of
TerrAscend. In addition, given the structure of the Class A Shares where all of the losses and substantially all of the benefits of TerrAscend are absorbed by the Company, the Company consolidates as the primary beneficiary of TerrAscend in accordance with ASC 810. Although the Company does not currently hold Class A Shares, the Non-Voting Shares are exchangeable at the Company\u2019s discretion and represent substantially all of the economic interest in the VIE. The investor\u2019s Class A Shares provide only a fixed annual return and do not participate in the residual economics of the VIE, in accordance with the Protection Agreement, which supports the Company\u2019s conclusion that it is the primary beneficiary of TerrAscend.
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The Company's U.S. operations are consolidated through the VIE model. Therefore, substantially all of the Company's current assets, non-current assets, current liabilities and non-current liabilities are consolidated through the VIE model.
"}]},{"name":"rpt:f-391","factDimensions":{"xbrl:concept":"us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","srt:OwnershipAxis":"tsndf:CanadianBusinessMember"},"factValues":[{"value":"0.95","decimals":2}]},{"name":"rpt:f-392","factDimensions":{"xbrl:concept":"us-gaap:MinorityInterestOwnershipPercentageByParent","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","srt:OwnershipAxis":"tsndf:TerrAscendCanadaIncMember"},"factValues":[{"value":"0.95","decimals":2}]},{"name":"rpt:f-393","factDimensions":{"xbrl:concept":"us-gaap:ProceedsFromIssuanceOfPrivatePlacement","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","srt:OwnershipAxis":"tsndf:TerrAscendGrowthCorpMember","us-gaap:StatementClassOfStockAxis":"us-gaap:CommonClassAMember"},"factValues":[{"value":"1000000","decimals":-3}]},{"name":"rpt:f-394","factDimensions":{"xbrl:concept":"us-gaap:MinorityInterestOwnershipPercentageByParent","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","srt:OwnershipAxis":"tsndf:TerrAscendGrowthCorpMember","us-gaap:StatementClassOfStockAxis":"us-gaap:CommonClassBMember"},"factValues":[{"value":"0.998","decimals":3}]},{"name":"rpt:f-395","factDimensions":{"xbrl:concept":"us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company's accounts receivable, net consisted of the following:
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\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Trade receivables | \n \u00a0 | \n $ | \n 16,046 | \n \u00a0 | \n \u00a0 | \n $ | \n 16,962 | \n \u00a0 | \n
Sales tax receivable | \n \u00a0 | \n \u00a0 | \n 391 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,156 | \n \u00a0 | \n
Other receivables | \n \u00a0 | \n \u00a0 | \n 1,130 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 599 | \n \u00a0 | \n
Provision for current expected credit losses | \n \u00a0 | \n \u00a0 | \n (2,022 | \n ) | \n \u00a0 | \n \u00a0 | \n (1,819 | \n ) | \n
Total receivables, net | \n \u00a0 | \n $ | \n 15,545 | \n \u00a0 | \n \u00a0 | \n $ | \n 16,898 | \n \u00a0 | \n
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The following table presents the aging of trade receivables:
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\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Trade receivables | \n \u00a0 | \n $ | \n 16,046 | \n \u00a0 | \n \u00a0 | \n $ | \n 16,962 | \n \u00a0 | \n
Less: provision for current expected credit losses | \n \u00a0 | \n \u00a0 | \n (2,022 | \n ) | \n \u00a0 | \n \u00a0 | \n (1,819 | \n ) | \n
Total trade receivables, net | \n \u00a0 | \n $ | \n 14,024 | \n \u00a0 | \n \u00a0 | \n $ | \n 15,143 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Of which | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Current | \n \u00a0 | \n \u00a0 | \n 10,915 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 12,214 | \n \u00a0 | \n
31-90 days | \n \u00a0 | \n \u00a0 | \n 1,826 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,761 | \n \u00a0 | \n
Over 90 days | \n \u00a0 | \n \u00a0 | \n 3,305 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,987 | \n \u00a0 | \n
Less: current expected credit losses | \n \u00a0 | \n \u00a0 | \n (2,022 | \n ) | \n \u00a0 | \n \u00a0 | \n (1,819 | \n ) | \n
Total trade receivables, net | \n \u00a0 | \n $ | \n 14,024 | \n \u00a0 | \n \u00a0 | \n $ | \n 15,143 | \n \u00a0 | \n
The Company's accounts receivable, net consisted of the following:
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\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Trade receivables | \n \u00a0 | \n $ | \n 16,046 | \n \u00a0 | \n \u00a0 | \n $ | \n 16,962 | \n \u00a0 | \n
Sales tax receivable | \n \u00a0 | \n \u00a0 | \n 391 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,156 | \n \u00a0 | \n
Other receivables | \n \u00a0 | \n \u00a0 | \n 1,130 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 599 | \n \u00a0 | \n
Provision for current expected credit losses | \n \u00a0 | \n \u00a0 | \n (2,022 | \n ) | \n \u00a0 | \n \u00a0 | \n (1,819 | \n ) | \n
Total receivables, net | \n \u00a0 | \n $ | \n 15,545 | \n \u00a0 | \n \u00a0 | \n $ | \n 16,898 | \n \u00a0 | \n
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The following table presents the aging of trade receivables:
The following table presents the aging of trade receivables:
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\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Trade receivables | \n \u00a0 | \n $ | \n 16,046 | \n \u00a0 | \n \u00a0 | \n $ | \n 16,962 | \n \u00a0 | \n
Less: provision for current expected credit losses | \n \u00a0 | \n \u00a0 | \n (2,022 | \n ) | \n \u00a0 | \n \u00a0 | \n (1,819 | \n ) | \n
Total trade receivables, net | \n \u00a0 | \n $ | \n 14,024 | \n \u00a0 | \n \u00a0 | \n $ | \n 15,143 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Of which | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Current | \n \u00a0 | \n \u00a0 | \n 10,915 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 12,214 | \n \u00a0 | \n
31-90 days | \n \u00a0 | \n \u00a0 | \n 1,826 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,761 | \n \u00a0 | \n
Over 90 days | \n \u00a0 | \n \u00a0 | \n 3,305 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,987 | \n \u00a0 | \n
Less: current expected credit losses | \n \u00a0 | \n \u00a0 | \n (2,022 | \n ) | \n \u00a0 | \n \u00a0 | \n (1,819 | \n ) | \n
Total trade receivables, net | \n \u00a0 | \n $ | \n 14,024 | \n \u00a0 | \n \u00a0 | \n $ | \n 15,143 | \n \u00a0 | \n
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2026 Acquisitions
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Union Chill
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On January 2, 2026 (the \"Union Chill Acquisition Date\"), the Company exercised its option to acquire and obtained a 35% interest in Union Chill Cannabis Company LLC (\"Union Chill\"), a licensed cannabis operator, expanding its operational footprint in New Jersey. Upon exercise, the Company obtained a transferable option to acquire a 65% interest in Union Chill at a nominal exercise price and entered into a series of agreements granting the Company certain protective rights. As a result, the Company determined that it became the primary beneficiary of Union Chill under ASC 810 and began consolidating Union Chill as a VIE as at January 2, 2026. The fair value of the non\u2011controlling interest was determined to be nominal, as all economics flow to the Company through contractual arrangements, leaving no residual economic interest with the prior owners. Subsequent to the acquisition, substantially all earnings are attributed to the Company. The total fair value consideration transferred in connection with the acquisition was $13,000. The fair value consideration was comprised of: (i) $4,000 in cash and (ii) $9,000 of convertible promissory notes bearing interest at a rate of 6.5% per annum and maturing on December 26, 2029. For additional information regarding the convertible notes, see Note 12.
The following table represents the fair value of assets acquired and liabilities assumed as of the Union Chill Acquisition Date and allocation of the consideration to net assets acquired:
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
Cash and cash equivalents | \n \u00a0 | \n $ | \n 752 | \n \u00a0 | \n
Inventory | \n \u00a0 | \n \u00a0 | \n 354 | \n \u00a0 | \n
Prepaid expenses and other current assets | \n \u00a0 | \n \u00a0 | \n 33 | \n \u00a0 | \n
Operating right of use asset | \n \u00a0 | \n \u00a0 | \n 991 | \n \u00a0 | \n
Property and equipment | \n \u00a0 | \n \u00a0 | \n 14 | \n \u00a0 | \n
Intangible assets | \n \u00a0 | \n \u00a0 | \n 11,700 | \n \u00a0 | \n
Goodwill | \n \u00a0 | \n \u00a0 | \n 1,008 | \n \u00a0 | \n
Accounts payable | \n \u00a0 | \n \u00a0 | \n (586 | \n ) | \n
Deferred revenue | \n \u00a0 | \n \u00a0 | \n (174 | \n ) | \n
Operating lease liability | \n \u00a0 | \n \u00a0 | \n (991 | \n ) | \n
Taxes payable | \n \u00a0 | \n \u00a0 | \n (101 | \n ) | \n
Net assets acquired | \n \u00a0 | \n $ | \n 13,000 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |
Consideration paid in cash | \n \u00a0 | \n $ | \n 4,000 | \n \u00a0 | \n
Convertible debt | \n \u00a0 | \n \u00a0 | \n 9,000 | \n \u00a0 | \n
Total consideration | \n \u00a0 | \n $ | \n 13,000 | \n \u00a0 | \n
The acquired intangible assets include a license, which is treated as a definite lived intangible asset and amortized over a 30-year period.
\u00a0
The consideration paid reflected the synergies, economies of scale, and workforce. These benefits were not recognized separately from goodwill because they do not meet the recognition criteria for identifiable intangible assets. None of the goodwill recognized is expected to be deductible for income tax purposes.
\u00a0
The accounting for this acquisition has been provisionally determined at March 31, 2026. The fair value of net assets acquired, specifically with respect to intangible assets, goodwill, property and equipment, and deferred tax liabilities have been determined provisionally and are subject to adjustment. Upon completion of a comprehensive valuation and finalization of the purchase price allocation, the amounts above may be adjusted retrospectively to the acquisition date during the measurement period.
\u00a0
Costs related to this transaction were $222, including legal, accounting, due diligence, and other transaction-related expenses. Of the total amount of transaction costs, $39 was recorded during the three months ended March 31, 2026.
\u00a0
The transaction was completed on the first business day of the fiscal year; therefore, the unaudited pro forma information is not materially different from the reported amounts. Total sales and net income since the Union Chill Acquisition Date are $2,867 and $445, respectively.
"}]},{"name":"rpt:f-425","factDimensions":{"xbrl:concept":"tsndf:PercentageOfOptionAcquiredUponExercise","xbrl:period":"2026-01-02T00:00:00/2026-01-03T00:00:00","xbrl:entity":"cik:0001778129","us-gaap:BusinessAcquisitionAxis":"tsndf:UnionChillAcquisitionMember"},"factValues":[{"value":"0.65","decimals":2}]},{"name":"rpt:f-426","factDimensions":{"xbrl:concept":"us-gaap:BusinessCombinationConsiderationTransferred1","xbrl:period":"2026-01-02T00:00:00/2026-01-03T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:BusinessAcquisitionAxis":"tsndf:UnionChillAcquisitionMember"},"factValues":[{"value":"13000000","decimals":-3}]},{"name":"rpt:f-427","factDimensions":{"xbrl:concept":"us-gaap:PaymentsToAcquireBusinessesGross","xbrl:period":"2026-01-02T00:00:00/2026-01-03T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:BusinessAcquisitionAxis":"tsndf:UnionChillAcquisitionMember"},"factValues":[{"value":"4000000","decimals":-3}]},{"name":"rpt:f-428","factDimensions":{"xbrl:concept":"us-gaap:BusinessCombinationConsiderationTransferredLiabilitiesIncurred","xbrl:period":"2026-01-02T00:00:00/2026-01-03T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:BusinessAcquisitionAxis":"tsndf:UnionChillAcquisitionMember"},"factValues":[{"value":"9000000","decimals":-3}]},{"name":"rpt:f-429","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentInterestRateStatedPercentage","xbrl:period":"2026-01-03T00:00:00","xbrl:entity":"cik:0001778129","us-gaap:BusinessAcquisitionAxis":"tsndf:UnionChillAcquisitionMember"},"factValues":[{"value":"0.065","decimals":3}]},{"name":"rpt:f-430","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentMaturityDate","xbrl:period":"2026-01-02T00:00:00/2026-01-03T00:00:00","xbrl:entity":"cik:0001778129","us-gaap:BusinessAcquisitionAxis":"tsndf:UnionChillAcquisitionMember"},"factValues":[{"value":"2029-12-26"}]},{"name":"rpt:f-431","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The following table represents the fair value of assets acquired and liabilities assumed as of the Union Chill Acquisition Date and allocation of the consideration to net assets acquired:
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
Cash and cash equivalents | \n \u00a0 | \n $ | \n 752 | \n \u00a0 | \n
Inventory | \n \u00a0 | \n \u00a0 | \n 354 | \n \u00a0 | \n
Prepaid expenses and other current assets | \n \u00a0 | \n \u00a0 | \n 33 | \n \u00a0 | \n
Operating right of use asset | \n \u00a0 | \n \u00a0 | \n 991 | \n \u00a0 | \n
Property and equipment | \n \u00a0 | \n \u00a0 | \n 14 | \n \u00a0 | \n
Intangible assets | \n \u00a0 | \n \u00a0 | \n 11,700 | \n \u00a0 | \n
Goodwill | \n \u00a0 | \n \u00a0 | \n 1,008 | \n \u00a0 | \n
Accounts payable | \n \u00a0 | \n \u00a0 | \n (586 | \n ) | \n
Deferred revenue | \n \u00a0 | \n \u00a0 | \n (174 | \n ) | \n
Operating lease liability | \n \u00a0 | \n \u00a0 | \n (991 | \n ) | \n
Taxes payable | \n \u00a0 | \n \u00a0 | \n (101 | \n ) | \n
Net assets acquired | \n \u00a0 | \n $ | \n 13,000 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |
Consideration paid in cash | \n \u00a0 | \n $ | \n 4,000 | \n \u00a0 | \n
Convertible debt | \n \u00a0 | \n \u00a0 | \n 9,000 | \n \u00a0 | \n
Total consideration | \n \u00a0 | \n $ | \n 13,000 | \n \u00a0 | \n
The Company\u2019s inventory of dry cannabis and cannabis derived products includes both purchased and internally produced inventory and is comprised of the following items:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Raw materials | \n \u00a0 | \n $ | \n 919 | \n \u00a0 | \n \u00a0 | \n $ | \n 753 | \n \u00a0 | \n
Finished goods | \n \u00a0 | \n \u00a0 | \n 16,583 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 15,514 | \n \u00a0 | \n
Work in process | \n \u00a0 | \n \u00a0 | \n 15,567 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 15,535 | \n \u00a0 | \n
Accessories, supplies and consumables | \n \u00a0 | \n \u00a0 | \n 3,163 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,252 | \n \u00a0 | \n
Total inventory | \n \u00a0 | \n $ | \n 36,232 | \n \u00a0 | \n \u00a0 | \n $ | \n 34,054 | \n \u00a0 | \n
The Company\u2019s inventory of dry cannabis and cannabis derived products includes both purchased and internally produced inventory and is comprised of the following items:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Raw materials | \n \u00a0 | \n $ | \n 919 | \n \u00a0 | \n \u00a0 | \n $ | \n 753 | \n \u00a0 | \n
Finished goods | \n \u00a0 | \n \u00a0 | \n 16,583 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 15,514 | \n \u00a0 | \n
Work in process | \n \u00a0 | \n \u00a0 | \n 15,567 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 15,535 | \n \u00a0 | \n
Accessories, supplies and consumables | \n \u00a0 | \n \u00a0 | \n 3,163 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,252 | \n \u00a0 | \n
Total inventory | \n \u00a0 | \n $ | \n 36,232 | \n \u00a0 | \n \u00a0 | \n $ | \n 34,054 | \n \u00a0 | \n
\u00a0
TerrAscend Michigan
In June 2025, the Company committed to a plan to exit the Michigan market. The Company received approval from the Board, together with TerrAscend Corp.\u2019s consolidated entities. As of March 31, 2026, the Company is finalizing its exit from TerrAscend Michigan (\"TerrAscend MI\"), which is expected to be substantially completed in the first half of 2026. The Company determined that its decision to exit the Michigan market is considered a strategic shift that will have a major effect on the Company\u2019s operations and financial results and met the criteria for classification as discontinued operations.
\u00a0
The following table summarizes the major classes of assets and liabilities of TerrAscend MI as of March 31, 2026 and December 31, 2025:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Current assets from discontinued operations | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Accounts receivable, net | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 39 | \n \u00a0 | \n
Prepaid expenses and other current assets | \n \u00a0 | \n 135 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 454 | \n \u00a0 | \n
Property and equipment, net | \n \u00a0 | \n 2,038 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,222 | \n \u00a0 | \n
Operating lease right of use assets | \n \u00a0 | \n 3,040 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,998 | \n \u00a0 | \n
Total current assets from discontinued operations | \n $ | \n 5,213 | \n \u00a0 | \n \u00a0 | \n $ | \n 12,713 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Current liabilities from discontinued operations | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Accounts payable and accrued liabilities | \n $ | \n 3,805 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,636 | \n \u00a0 | \n
Operating lease liability | \n \u00a0 | \n 3,076 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,342 | \n \u00a0 | \n
Finance lease liability | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,923 | \n \u00a0 | \n
Other liabilities | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 715 | \n \u00a0 | \n
Total current liabilities from discontinued operations | \n $ | \n 6,881 | \n \u00a0 | \n \u00a0 | \n $ | \n 12,616 | \n \u00a0 | \n
\u00a0
The following table presents the results of operations of TerrAscend MI for the three months ended March 31, 2026 and 2025:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n |||||
\u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Revenue, net | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 6,693 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Cost of Sales | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,573 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Gross profit | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,120 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating expenses: | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
General and administrative | \n \u00a0 | \n 627 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,231 | \n \u00a0 | \n
Amortization and depreciation | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 475 | \n \u00a0 | \n
Impairment of property and equipment | \n \u00a0 | \n 72 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Other operating expense (income) | \n \u00a0 | \n 195 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total operating expenses | \n \u00a0 | \n 894 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,706 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Other expense (income) | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Finance and other expenses | \n \u00a0 | \n 41 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 78 | \n \u00a0 | \n
Loss from discontinued operations before provision for income taxes | \n \u00a0 | \n (935 | \n ) | \n \u00a0 | \n \u00a0 | \n (3,664 | \n ) | \n
Benefit for income taxes | \n \u00a0 | \n 240 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 940 | \n \u00a0 | \n
Net loss from discontinued operations, net of tax | \n $ | \n (1,175 | \n ) | \n \u00a0 | \n $ | \n (4,604 | \n ) | \n
\u00a0
\u00a0
The total amount of costs expected to be incurred in connection with the Michigan exit is between $720 in cash expenditures for employee transition, notice period and severance payments, and employee benefits. During the three months ended March 31, 2026, the Company incurred $48 of restructuring costs. Total cumulative restructuring costs are $654 as of March 31, 2026.
"}]},{"name":"rpt:f-465","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The following table summarizes the major classes of assets and liabilities of TerrAscend MI as of March 31, 2026 and December 31, 2025:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Current assets from discontinued operations | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Accounts receivable, net | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 39 | \n \u00a0 | \n
Prepaid expenses and other current assets | \n \u00a0 | \n 135 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 454 | \n \u00a0 | \n
Property and equipment, net | \n \u00a0 | \n 2,038 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,222 | \n \u00a0 | \n
Operating lease right of use assets | \n \u00a0 | \n 3,040 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,998 | \n \u00a0 | \n
Total current assets from discontinued operations | \n $ | \n 5,213 | \n \u00a0 | \n \u00a0 | \n $ | \n 12,713 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Current liabilities from discontinued operations | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Accounts payable and accrued liabilities | \n $ | \n 3,805 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,636 | \n \u00a0 | \n
Operating lease liability | \n \u00a0 | \n 3,076 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,342 | \n \u00a0 | \n
Finance lease liability | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,923 | \n \u00a0 | \n
Other liabilities | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 715 | \n \u00a0 | \n
Total current liabilities from discontinued operations | \n $ | \n 6,881 | \n \u00a0 | \n \u00a0 | \n $ | \n 12,616 | \n \u00a0 | \n
\u00a0
The following table presents the results of operations of TerrAscend MI for the three months ended March 31, 2026 and 2025:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n |||||
\u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Revenue, net | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 6,693 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Cost of Sales | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,573 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Gross profit | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,120 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating expenses: | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
General and administrative | \n \u00a0 | \n 627 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,231 | \n \u00a0 | \n
Amortization and depreciation | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 475 | \n \u00a0 | \n
Impairment of property and equipment | \n \u00a0 | \n 72 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Other operating expense (income) | \n \u00a0 | \n 195 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total operating expenses | \n \u00a0 | \n 894 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,706 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Other expense (income) | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Finance and other expenses | \n \u00a0 | \n 41 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 78 | \n \u00a0 | \n
Loss from discontinued operations before provision for income taxes | \n \u00a0 | \n (935 | \n ) | \n \u00a0 | \n \u00a0 | \n (3,664 | \n ) | \n
Benefit for income taxes | \n \u00a0 | \n 240 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 940 | \n \u00a0 | \n
Net loss from discontinued operations, net of tax | \n $ | \n (1,175 | \n ) | \n \u00a0 | \n $ | \n (4,604 | \n ) | \n
\u00a0
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-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"5706000","decimals":-3}]},{"name":"rpt:f-493","factDimensions":{"xbrl:concept":"tsndf:DisposalGroupIncludingDiscontinuedOperationFinanceAndOtherIncomeExpense","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"-41000","decimals":-3}]},{"name":"rpt:f-494","factDimensions":{"xbrl:concept":"tsndf:DisposalGroupIncludingDiscontinuedOperationFinanceAndOtherIncomeExpense","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"-78000","decimals":-3}]},{"name":"rpt:f-495","factDimensions":{"xbrl:concept":"us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"-935000","decimals":-3}]},{"name":"rpt:f-496","factDimensions":{"xbrl:concept":"us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"-3664000","decimals":-3}]},{"name":"rpt:f-497","factDimensions":{"xbrl:concept":"tsndf:DisposalGroupIncludingDiscontinuedOperationProvisionForIncomeTaxes","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"240000","decimals":-3}]},{"name":"rpt:f-498","factDimensions":{"xbrl:concept":"tsndf:DisposalGroupIncludingDiscontinuedOperationProvisionForIncomeTaxes","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"940000","decimals":-3}]},{"name":"rpt:f-499","factDimensions":{"xbrl:concept":"us-gaap:IncomeLossFromDiscontinuedOperationsNetOfTax","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"-1175000","decimals":-3}]},{"name":"rpt:f-500","factDimensions":{"xbrl:concept":"us-gaap:IncomeLossFromDiscontinuedOperationsNetOfTax","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:DisposalGroupClassificationAxis":"us-gaap:DiscontinuedOperationsDisposedOfBySaleMember"},"factValues":[{"value":"-4604000","decimals":-3}]},{"name":"rpt:f-501","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostExpectedCost1","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"720000","decimals":-3}]},{"name":"rpt:f-502","factDimensions":{"xbrl:concept":"us-gaap:RestructuringAndRelatedCostIncurredCost","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"48000","decimals":-3}]},{"name":"rpt:f-503","factDimensions":{"xbrl:concept":"us-gaap:RestructuringCosts","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"654000","decimals":-3}]},{"name":"rpt:f-504","factDimensions":{"xbrl:concept":"us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"Property and equipment consisted of:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Land | \n \u00a0 | \n $ | \n 3,580 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,580 | \n \u00a0 | \n
Assets in process | \n \u00a0 | \n \u00a0 | \n 2,886 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 289 | \n \u00a0 | \n
Buildings & improvements | \n \u00a0 | \n \u00a0 | \n 138,493 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 138,443 | \n \u00a0 | \n
Machinery & equipment | \n \u00a0 | \n \u00a0 | \n 25,672 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 25,338 | \n \u00a0 | \n
Office furniture & equipment | \n \u00a0 | \n \u00a0 | \n 4,718 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,710 | \n \u00a0 | \n
Total cost | \n \u00a0 | \n \u00a0 | \n 175,349 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 172,360 | \n \u00a0 | \n
Less: accumulated depreciation | \n \u00a0 | \n \u00a0 | \n (44,786 | \n ) | \n \u00a0 | \n \u00a0 | \n (42,428 | \n ) | \n
Property and equipment, net | \n \u00a0 | \n $ | \n 130,563 | \n \u00a0 | \n \u00a0 | \n $ | \n 129,932 | \n \u00a0 | \n
\u00a0
Assets in process primarily represent construction in progress related to both cultivation and dispensary facilities not yet completed, or otherwise not placed in service.
\u00a0
Depreciation expense was $2,364 with $1,930 included in cost of sales for the three months ended March 31, 2026, and $2,406 with $1,997 included in cost of sales for the three months ended March 31, 2025.
"}]},{"name":"rpt:f-505","factDimensions":{"xbrl:concept":"us-gaap:PropertyPlantAndEquipmentTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"Property and equipment consisted of:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Land | \n \u00a0 | \n $ | \n 3,580 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,580 | \n \u00a0 | \n
Assets in process | \n \u00a0 | \n \u00a0 | \n 2,886 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 289 | \n \u00a0 | \n
Buildings & improvements | \n \u00a0 | \n \u00a0 | \n 138,493 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 138,443 | \n \u00a0 | \n
Machinery & equipment | \n \u00a0 | \n \u00a0 | \n 25,672 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 25,338 | \n \u00a0 | \n
Office furniture & equipment | \n \u00a0 | \n \u00a0 | \n 4,718 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,710 | \n \u00a0 | \n
Total cost | \n \u00a0 | \n \u00a0 | \n 175,349 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 172,360 | \n \u00a0 | \n
Less: accumulated depreciation | \n \u00a0 | \n \u00a0 | \n (44,786 | \n ) | \n \u00a0 | \n \u00a0 | \n (42,428 | \n ) | \n
Property and equipment, net | \n \u00a0 | \n $ | \n 130,563 | \n \u00a0 | \n \u00a0 | \n $ | \n 129,932 | \n \u00a0 | \n
\u00a0
Intangible assets consisted of the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
At March 31, 2026 | \n \u00a0 | \n Gross Carrying Amount | \n \u00a0 | \n \u00a0 | \n Accumulated Amortization | \n \u00a0 | \n \u00a0 | \n Net Carrying Amount | \n \u00a0 | \n |||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||||||
Definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Software | \n \u00a0 | \n $ | \n 2,796 | \n \u00a0 | \n \u00a0 | \n $ | \n (2,154 | \n ) | \n \u00a0 | \n $ | \n 642 | \n \u00a0 | \n
\u00a0Licenses | \n \u00a0 | \n \u00a0 | \n 184,649 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (31,437 | \n ) | \n \u00a0 | \n \u00a0 | \n 153,212 | \n \u00a0 | \n
\u00a0Non-compete agreements | \n \u00a0 | \n \u00a0 | \n 280 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (280 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
\u00a0Total definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 187,725 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (33,871 | \n ) | \n \u00a0 | \n \u00a0 | \n 153,854 | \n \u00a0 | \n
Indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Brand intangibles | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Total indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Intangible assets, net | \n \u00a0 | \n $ | \n 211,147 | \n \u00a0 | \n \u00a0 | \n $ | \n (33,871 | \n ) | \n \u00a0 | \n $ | \n 177,276 | \n \u00a0 | \n
\u00a0
| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
At December 31, 2025 | \n \u00a0 | \n Gross Carrying Amount | \n \u00a0 | \n \u00a0 | \n Accumulated Amortization | \n \u00a0 | \n \u00a0 | \n Net Carrying Amount | \n \u00a0 | \n |||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||||||
Definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Software | \n \u00a0 | \n $ | \n 2,797 | \n \u00a0 | \n \u00a0 | \n $ | \n (1,730 | \n ) | \n \u00a0 | \n $ | \n 1,067 | \n \u00a0 | \n
\u00a0Licenses | \n \u00a0 | \n \u00a0 | \n 172,906 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (30,085 | \n ) | \n \u00a0 | \n \u00a0 | \n 142,821 | \n \u00a0 | \n
\u00a0Non-compete agreements | \n \u00a0 | \n \u00a0 | \n 280 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (280 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
\u00a0Total definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 175,983 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (32,095 | \n ) | \n \u00a0 | \n \u00a0 | \n 143,888 | \n \u00a0 | \n
Indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Brand intangibles | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Total indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Intangible assets, net | \n \u00a0 | \n $ | \n 199,405 | \n \u00a0 | \n \u00a0 | \n $ | \n (32,095 | \n ) | \n \u00a0 | \n $ | \n 167,310 | \n \u00a0 | \n
\u00a0
Amortization expense was $1,776 with $662 included in cost of sales for the three months ended March 31, 2026, and $1,540 with $660 included in cost of sales for the three months ended March 31, 2025.
Estimated future amortization expense for finite lived intangible assets for the next five years is as follows:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
2026 | \n \u00a0 | \n $ | \n 5,291 | \n \u00a0 | \n
2027 | \n \u00a0 | \n \u00a0 | \n 6,980 | \n \u00a0 | \n
2028 | \n \u00a0 | \n \u00a0 | \n 6,930 | \n \u00a0 | \n
2029 | \n \u00a0 | \n \u00a0 | \n 6,816 | \n \u00a0 | \n
2030 | \n \u00a0 | \n \u00a0 | \n 6,621 | \n \u00a0 | \n
Thereafter | \n \u00a0 | \n \u00a0 | \n 121,216 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 153,854 | \n \u00a0 | \n
\u00a0
As of March 31, 2026, the weighted average amortization period remaining on intangible assets was 22.5 years.
\u00a0
The following table summarizes the activity in the Company\u2019s goodwill balance:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
Balance at December 31, 2025 | \n \u00a0 | \n $ | \n 109,770 | \n \u00a0 | \n
Additions at acquisition date | \n \u00a0 | \n \u00a0 | \n 1,008 | \n \u00a0 | \n
Balance at March 31, 2026 | \n \u00a0 | \n $ | \n 110,778 | \n \u00a0 | \n
Intangible assets consisted of the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
At March 31, 2026 | \n \u00a0 | \n Gross Carrying Amount | \n \u00a0 | \n \u00a0 | \n Accumulated Amortization | \n \u00a0 | \n \u00a0 | \n Net Carrying Amount | \n \u00a0 | \n |||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||||||
Definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Software | \n \u00a0 | \n $ | \n 2,796 | \n \u00a0 | \n \u00a0 | \n $ | \n (2,154 | \n ) | \n \u00a0 | \n $ | \n 642 | \n \u00a0 | \n
\u00a0Licenses | \n \u00a0 | \n \u00a0 | \n 184,649 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (31,437 | \n ) | \n \u00a0 | \n \u00a0 | \n 153,212 | \n \u00a0 | \n
\u00a0Non-compete agreements | \n \u00a0 | \n \u00a0 | \n 280 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (280 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
\u00a0Total definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 187,725 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (33,871 | \n ) | \n \u00a0 | \n \u00a0 | \n 153,854 | \n \u00a0 | \n
Indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Brand intangibles | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Total indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Intangible assets, net | \n \u00a0 | \n $ | \n 211,147 | \n \u00a0 | \n \u00a0 | \n $ | \n (33,871 | \n ) | \n \u00a0 | \n $ | \n 177,276 | \n \u00a0 | \n
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
At December 31, 2025 | \n \u00a0 | \n Gross Carrying Amount | \n \u00a0 | \n \u00a0 | \n Accumulated Amortization | \n \u00a0 | \n \u00a0 | \n Net Carrying Amount | \n \u00a0 | \n |||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||||||
Definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Software | \n \u00a0 | \n $ | \n 2,797 | \n \u00a0 | \n \u00a0 | \n $ | \n (1,730 | \n ) | \n \u00a0 | \n $ | \n 1,067 | \n \u00a0 | \n
\u00a0Licenses | \n \u00a0 | \n \u00a0 | \n 172,906 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (30,085 | \n ) | \n \u00a0 | \n \u00a0 | \n 142,821 | \n \u00a0 | \n
\u00a0Non-compete agreements | \n \u00a0 | \n \u00a0 | \n 280 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (280 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
\u00a0Total definite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 175,983 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (32,095 | \n ) | \n \u00a0 | \n \u00a0 | \n 143,888 | \n \u00a0 | \n
Indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |||
\u00a0Brand intangibles | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Total indefinite lived intangible assets | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,422 | \n \u00a0 | \n
\u00a0Intangible assets, net | \n \u00a0 | \n $ | \n 199,405 | \n \u00a0 | \n \u00a0 | \n $ | \n (32,095 | \n ) | \n \u00a0 | \n $ | \n 167,310 | \n \u00a0 | \n
Estimated future amortization expense for finite lived intangible assets for the next five years is as follows:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
2026 | \n \u00a0 | \n $ | \n 5,291 | \n \u00a0 | \n
2027 | \n \u00a0 | \n \u00a0 | \n 6,980 | \n \u00a0 | \n
2028 | \n \u00a0 | \n \u00a0 | \n 6,930 | \n \u00a0 | \n
2029 | \n \u00a0 | \n \u00a0 | \n 6,816 | \n \u00a0 | \n
2030 | \n \u00a0 | \n \u00a0 | \n 6,621 | \n \u00a0 | \n
Thereafter | \n \u00a0 | \n \u00a0 | \n 121,216 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 153,854 | \n \u00a0 | \n
The following table summarizes the activity in the Company\u2019s goodwill balance:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
Balance at December 31, 2025 | \n \u00a0 | \n $ | \n 109,770 | \n \u00a0 | \n
Additions at acquisition date | \n \u00a0 | \n \u00a0 | \n 1,008 | \n \u00a0 | \n
Balance at March 31, 2026 | \n \u00a0 | \n $ | \n 110,778 | \n \u00a0 | \n
The Company's loans payable consisted of the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Ratio promissory note due May 2027 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Principal amount | \n \u00a0 | \n $ | \n 3,980 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,980 | \n \u00a0 | \n
Deferred financing cost | \n \u00a0 | \n \u00a0 | \n (227 | \n ) | \n \u00a0 | \n \u00a0 | \n (279 | \n ) | \n
Net carrying amount | \n \u00a0 | \n $ | \n 3,753 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,701 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Blue Ridge promissory note due June 2027 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Principal amount | \n \u00a0 | \n $ | \n 2,758 | \n \u00a0 | \n \u00a0 | \n $ | \n 2,758 | \n \u00a0 | \n
Unamortized discount | \n \u00a0 | \n \u00a0 | \n (169 | \n ) | \n \u00a0 | \n \u00a0 | \n (208 | \n ) | \n
Net carrying amount | \n \u00a0 | \n $ | \n 2,589 | \n \u00a0 | \n \u00a0 | \n $ | \n 2,550 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
FocusGrowth loan due August 2028 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Principal amount | \n \u00a0 | \n $ | \n 212,182 | \n \u00a0 | \n \u00a0 | \n $ | \n 217,682 | \n \u00a0 | \n
Unamortized discount and deferred financing cost | \n \u00a0 | \n \u00a0 | \n (16,104 | \n ) | \n \u00a0 | \n \u00a0 | \n (17,621 | \n ) | \n
Exit fee accretion | \n \u00a0 | \n \u00a0 | \n 2,259 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,824 | \n \u00a0 | \n
Net carrying amount | \n \u00a0 | \n $ | \n 198,337 | \n \u00a0 | \n \u00a0 | \n $ | \n 201,885 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Other loans | \n \u00a0 | \n $ | \n 1,030 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,032 | \n \u00a0 | \n
Total debt, net | \n \u00a0 | \n $ | \n 205,709 | \n \u00a0 | \n \u00a0 | \n $ | \n 209,168 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Loans payable, current | \n \u00a0 | \n \u00a0 | \n 777 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,322 | \n \u00a0 | \n
Loans payable, non-current | \n \u00a0 | \n \u00a0 | \n 204,932 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 203,846 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Total principal | \n \u00a0 | \n $ | \n 219,950 | \n \u00a0 | \n \u00a0 | \n $ | \n 221,472 | \n \u00a0 | \n
The Company had accrued interest on loans payable of $2,727 and $2,365 as of March 31, 2026 and December 31, 2025, respectively, included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets.
\u00a0
FocusGrowth Term Loan
The FocusGrowth Term Loan (\"FG Loan\") bears interest at 12.75% per annum with a maturity date of August 1, 2028 (the \"FG Loan Maturity Date\"). The FG Loan is guaranteed by the Issuer and TerrAscend USA, Inc. and is secured by substantially all of the assets of the Borrowers. Depending on the timing of repayment, an exit fee of between 2.0% and 4.0% of the FG Loan (the \"Exit Fee\") will be due upon either the prepayment, in part or in full, of the FG Loan or the FG Loan Maturity Date.
The FG Loan also provides for an uncommitted term loan facility of up to $35,000 (the \"Uncommitted Term Loan Facility\"). The terms of the FG Loan Amendment and the Uncommitted Term Loan Facility are consistent with the initial FG Loan. As of March 31, 2026, the Company has drawn $3,105 of the Uncommitted Term Loan Facility with a remaining availability of $31,895.
\u00a0
In the first quarter of 2026, the Company made prepayments in aggregate of $5,500 on the FG Loan, including a 3% prepayment fee.
Blue Ridge Promissory Note
In connection with the acquisition of Hempaid, LLC on June 30, 2023 (\"Blue Ridge\") the company entered into a promissory note with Blue Ridge bearing interest at 7.0% with a maturity date of June 30, 2027.
Ratio Promissory Note
As part of the Ratio Acquisition, the Company entered into a promissory note bearing interest at 6.0% with a maturity date of May 7, 2027.
Other Loans
Class A Shares of TerrAscend Growth
\u00a0
In connection with the 2023 Reorganization (see Note 3), TerrAscend issued $1,000 of Class A shares with a 20% guaranteed annual dividend (\"Class A Shares\") to an investor (the \u201cInvestor\u201d) pursuant to the terms of a subscription agreement between TerrAscend and the Investor dated April 20, 2023 (the \u201cSubscription Agreement\u201d). Pursuant to the terms of the Subscription Agreement, TerrAscend holds a call right to repurchase all of the Class A Shares issued to the Investor for an amount equal to the sum of: (a) the Repurchase/Put Price (as defined in the Subscription Agreement); plus (b) the amount equal to 40% of the subscription amount less the aggregate dividends paid to the Investor as of the date of the exercise of the repurchase right. In addition, the Investor holds a put right that is exercisable at any time after four months\u2019 advanced written notice following June 28, 2028 to put all (and only all) of the Class A Shares owned by the Investor to TerrAscend at the Repurchase/Put Price, payable in cash or shares. The instrument is considered as a debt for accounting purposes due to the economic characteristics and risks.
\u00a0
Maturities of loans payable
\u00a0
Stated maturities of loans payable over the next five years are as follows:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
2026 | \n \u00a0 | \n $ | \n 726 | \n \u00a0 | \n
2027 | \n \u00a0 | \n \u00a0 | \n 6,024 | \n \u00a0 | \n
2028 (1) | \n \u00a0 | \n \u00a0 | \n 213,189 | \n \u00a0 | \n
2029 | \n \u00a0 | \n \u00a0 | \n 7 | \n \u00a0 | \n
2030 | \n \u00a0 | \n \u00a0 | \n 4 | \n \u00a0 | \n
Thereafter | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total principal payments | \n \u00a0 | \n $ | \n 219,950 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |
(1) Balance excludes the Exit Fee, as described above within this note. | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n
\u00a0
The Company is subject to a financial covenant as a result of its loan payable with its primary lender. The Company was in compliance with its financial covenant as of March 31, 2026. In the event that, in future periods, the Company\u2019s financial results are below levels required to maintain compliance with any of its covenant, the Company will assess and undertake appropriate corrective initiatives with a view to allowing it to continue to comply with its covenant.
"}]},{"name":"rpt:f-582","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfDebtTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company's loans payable consisted of the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Ratio promissory note due May 2027 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Principal amount | \n \u00a0 | \n $ | \n 3,980 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,980 | \n \u00a0 | \n
Deferred financing cost | \n \u00a0 | \n \u00a0 | \n (227 | \n ) | \n \u00a0 | \n \u00a0 | \n (279 | \n ) | \n
Net carrying amount | \n \u00a0 | \n $ | \n 3,753 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,701 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Blue Ridge promissory note due June 2027 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Principal amount | \n \u00a0 | \n $ | \n 2,758 | \n \u00a0 | \n \u00a0 | \n $ | \n 2,758 | \n \u00a0 | \n
Unamortized discount | \n \u00a0 | \n \u00a0 | \n (169 | \n ) | \n \u00a0 | \n \u00a0 | \n (208 | \n ) | \n
Net carrying amount | \n \u00a0 | \n $ | \n 2,589 | \n \u00a0 | \n \u00a0 | \n $ | \n 2,550 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
FocusGrowth loan due August 2028 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Principal amount | \n \u00a0 | \n $ | \n 212,182 | \n \u00a0 | \n \u00a0 | \n $ | \n 217,682 | \n \u00a0 | \n
Unamortized discount and deferred financing cost | \n \u00a0 | \n \u00a0 | \n (16,104 | \n ) | \n \u00a0 | \n \u00a0 | \n (17,621 | \n ) | \n
Exit fee accretion | \n \u00a0 | \n \u00a0 | \n 2,259 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,824 | \n \u00a0 | \n
Net carrying amount | \n \u00a0 | \n $ | \n 198,337 | \n \u00a0 | \n \u00a0 | \n $ | \n 201,885 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Other loans | \n \u00a0 | \n $ | \n 1,030 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,032 | \n \u00a0 | \n
Total debt, net | \n \u00a0 | \n $ | \n 205,709 | \n \u00a0 | \n \u00a0 | \n $ | \n 209,168 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Loans payable, current | \n \u00a0 | \n \u00a0 | \n 777 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5,322 | \n \u00a0 | \n
Loans payable, non-current | \n \u00a0 | \n \u00a0 | \n 204,932 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 203,846 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Total principal | \n \u00a0 | \n $ | \n 219,950 | \n \u00a0 | \n \u00a0 | \n $ | \n 221,472 | \n \u00a0 | \n
Stated maturities of loans payable over the next five years are as follows:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
2026 | \n \u00a0 | \n $ | \n 726 | \n \u00a0 | \n
2027 | \n \u00a0 | \n \u00a0 | \n 6,024 | \n \u00a0 | \n
2028 (1) | \n \u00a0 | \n \u00a0 | \n 213,189 | \n \u00a0 | \n
2029 | \n \u00a0 | \n \u00a0 | \n 7 | \n \u00a0 | \n
2030 | \n \u00a0 | \n \u00a0 | \n 4 | \n \u00a0 | \n
Thereafter | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total principal payments | \n \u00a0 | \n $ | \n 219,950 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n |
(1) Balance excludes the Exit Fee, as described above within this note. | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n
The majority of the Company\u2019s leases are operating leases used primarily for corporate offices and retail. The operating lease periods generally range from 1 to 24 years. The Company had no finance leases at March 31, 2026 and December 31, 2025.
Amounts recognized in the Consolidated Balance Sheets were as follows:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Operating leases: | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating lease right-of-use assets | \n \u00a0 | \n $ | \n 27,248 | \n \u00a0 | \n \u00a0 | \n $ | \n 26,691 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating lease liability classified as current | \n \u00a0 | \n \u00a0 | \n 1,165 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,511 | \n \u00a0 | \n
Operating lease liability classified as non-current | \n \u00a0 | \n \u00a0 | \n 29,546 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 28,555 | \n \u00a0 | \n
Total operating lease liabilities | \n \u00a0 | \n $ | \n 30,711 | \n \u00a0 | \n \u00a0 | \n $ | \n 30,066 | \n \u00a0 | \n
\u00a0
The Company recognized operating lease expense of $1,157 for the three months ended March 31, 2026 and $1,874 for the three months ended March 31, 2025.
\u00a0
Other information related to operating leases at March 31, 2026 and December 31, 2025 consisted of the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
Weighted-average remaining lease term (years) | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating leases | \n \u00a0 | \n \u00a0 | \n 12.7 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 13.0 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Weighted-average discount rate | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating leases | \n \u00a0 | \n 11.36% | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 11.32 | \n % | \n
\u00a0
Supplemental cash flow information related to leases are as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Cash paid for amounts included in measurement of operating lease liabilities | \n \u00a0 | \n $ | \n 1,135 | \n \u00a0 | \n \u00a0 | \n $ | \n 4,823 | \n \u00a0 | \n
Right-of-use assets obtained in exchange for operating lease obligations | \n \u00a0 | \n \u00a0 | \n 1,010 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,790 | \n \u00a0 | \n
\u00a0
Undiscounted lease obligations are as follows:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
2026 | \n \u00a0 | \n $ | \n 4,370 | \n \u00a0 | \n
2027 | \n \u00a0 | \n \u00a0 | \n 4,416 | \n \u00a0 | \n
2028 | \n \u00a0 | \n \u00a0 | \n 4,486 | \n \u00a0 | \n
2029 | \n \u00a0 | \n \u00a0 | \n 4,584 | \n \u00a0 | \n
2030 | \n \u00a0 | \n \u00a0 | \n 4,158 | \n \u00a0 | \n
Thereafter | \n \u00a0 | \n \u00a0 | \n 37,308 | \n \u00a0 | \n
Total lease payments | \n \u00a0 | \n \u00a0 | \n 59,322 | \n \u00a0 | \n
Less: interest | \n \u00a0 | \n \u00a0 | \n (28,611 | \n ) | \n
Total lease liabilities | \n \u00a0 | \n $ | \n 30,711 | \n \u00a0 | \n
Amounts recognized in the Consolidated Balance Sheets were as follows:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Operating leases: | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating lease right-of-use assets | \n \u00a0 | \n $ | \n 27,248 | \n \u00a0 | \n \u00a0 | \n $ | \n 26,691 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating lease liability classified as current | \n \u00a0 | \n \u00a0 | \n 1,165 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,511 | \n \u00a0 | \n
Operating lease liability classified as non-current | \n \u00a0 | \n \u00a0 | \n 29,546 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 28,555 | \n \u00a0 | \n
Total operating lease liabilities | \n \u00a0 | \n $ | \n 30,711 | \n \u00a0 | \n \u00a0 | \n $ | \n 30,066 | \n \u00a0 | \n
Other information related to operating leases at March 31, 2026 and December 31, 2025 consisted of the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
Weighted-average remaining lease term (years) | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating leases | \n \u00a0 | \n \u00a0 | \n 12.7 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 13.0 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Weighted-average discount rate | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Operating leases | \n \u00a0 | \n 11.36% | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 11.32 | \n % | \n
Supplemental cash flow information related to leases are as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Cash paid for amounts included in measurement of operating lease liabilities | \n \u00a0 | \n $ | \n 1,135 | \n \u00a0 | \n \u00a0 | \n $ | \n 4,823 | \n \u00a0 | \n
Right-of-use assets obtained in exchange for operating lease obligations | \n \u00a0 | \n \u00a0 | \n 1,010 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,790 | \n \u00a0 | \n
Undiscounted lease obligations are as follows:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
2026 | \n \u00a0 | \n $ | \n 4,370 | \n \u00a0 | \n
2027 | \n \u00a0 | \n \u00a0 | \n 4,416 | \n \u00a0 | \n
2028 | \n \u00a0 | \n \u00a0 | \n 4,486 | \n \u00a0 | \n
2029 | \n \u00a0 | \n \u00a0 | \n 4,584 | \n \u00a0 | \n
2030 | \n \u00a0 | \n \u00a0 | \n 4,158 | \n \u00a0 | \n
Thereafter | \n \u00a0 | \n \u00a0 | \n 37,308 | \n \u00a0 | \n
Total lease payments | \n \u00a0 | \n \u00a0 | \n 59,322 | \n \u00a0 | \n
Less: interest | \n \u00a0 | \n \u00a0 | \n (28,611 | \n ) | \n
Total lease liabilities | \n \u00a0 | \n $ | \n 30,711 | \n \u00a0 | \n
The following table summarizes the Company\u2019s convertible debentures (the \u201cPrivate Placement Convertible Debentures\u201d) activity for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Convertible debt proceeds, net of transaction costs - Maturing June 2026 | \n \u00a0 | \n $ | \n 10,098 | \n \u00a0 | \n \u00a0 | \n $ | \n 10,098 | \n \u00a0 | \n
Allocation to conversion option | \n \u00a0 | \n \u00a0 | \n 3,600 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 3,600 | \n \u00a0 | \n
Allocation to debt | \n \u00a0 | \n \u00a0 | \n 6,498 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,498 | \n \u00a0 | \n
Interest and accretion | \n \u00a0 | \n \u00a0 | \n 3,857 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 3,857 | \n \u00a0 | \n
Net carrying amount | \n \u00a0 | \n $ | \n 10,355 | \n \u00a0 | \n \u00a0 | \n $ | \n 10,355 | \n \u00a0 | \n
\u00a0
The following table summarizes the Company's convertible promissory note in connection with the acquisition of Union Chill (\"Union Chill Convertible Promissory Note\") activity for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Convertible debt issued as acquisition consideration - Maturing December 2029 | \n \u00a0 | \n $ | \n 9,000 | \n \u00a0 | \n \u00a0 | \n $ | \n 9,000 | \n \u00a0 | \n
Allocation to conversion option | \n \u00a0 | \n \u00a0 | \n 2,104 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,104 | \n \u00a0 | \n
Allocation to debt | \n \u00a0 | \n \u00a0 | \n 6,896 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,896 | \n \u00a0 | \n
Interest and accretion | \n \u00a0 | \n \u00a0 | \n 176 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Net carrying amount | \n \u00a0 | \n $ | \n 7,072 | \n \u00a0 | \n \u00a0 | \n $ | \n 6,896 | \n \u00a0 | \n
The following table summarizes the Company\u2019s convertible debentures (the \u201cPrivate Placement Convertible Debentures\u201d) activity for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Convertible debt proceeds, net of transaction costs - Maturing June 2026 | \n \u00a0 | \n $ | \n 10,098 | \n \u00a0 | \n \u00a0 | \n $ | \n 10,098 | \n \u00a0 | \n
Allocation to conversion option | \n \u00a0 | \n \u00a0 | \n 3,600 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 3,600 | \n \u00a0 | \n
Allocation to debt | \n \u00a0 | \n \u00a0 | \n 6,498 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,498 | \n \u00a0 | \n
Interest and accretion | \n \u00a0 | \n \u00a0 | \n 3,857 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 3,857 | \n \u00a0 | \n
Net carrying amount | \n \u00a0 | \n $ | \n 10,355 | \n \u00a0 | \n \u00a0 | \n $ | \n 10,355 | \n \u00a0 | \n
\u00a0
The following table summarizes the Company's convertible promissory note in connection with the acquisition of Union Chill (\"Union Chill Convertible Promissory Note\") activity for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Convertible debt issued as acquisition consideration - Maturing December 2029 | \n \u00a0 | \n $ | \n 9,000 | \n \u00a0 | \n \u00a0 | \n $ | \n 9,000 | \n \u00a0 | \n
Allocation to conversion option | \n \u00a0 | \n \u00a0 | \n 2,104 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,104 | \n \u00a0 | \n
Allocation to debt | \n \u00a0 | \n \u00a0 | \n 6,896 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6,896 | \n \u00a0 | \n
Interest and accretion | \n \u00a0 | \n \u00a0 | \n 176 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Net carrying amount | \n \u00a0 | \n $ | \n 7,072 | \n \u00a0 | \n \u00a0 | \n $ | \n 6,896 | \n \u00a0 | \n
\u00a0
Share Repurchase Authorization
\u00a0
On August 20, 2025, the Board approved a program to repurchase up to $10,000 of Common Shares (the \"Share Repurchase Program\"), which replaced the Company's share repurchase program previously in place (the \"Original Program\"). The Share Repurchase Program authorizes the Company to repurchase up to 10,000,000 Common Shares of the Company at any time, or from time to time, from August 22, 2025 until August 21, 2026. The Share Repurchase Program authorizes the Company to repurchase up to 60,255 Common Shares daily, which represents 25% of the Company\u2019s average daily trading volume on the TSX of 241,023 Common Shares. Any repurchases under the program may be made by means of open market transactions, negotiated block transactions, or otherwise, including pursuant to a repurchase plan administered in accordance with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended. The size and timing of any repurchases will depend on price, market and business conditions, and other factors.
\u00a0
As of March 31, 2026, the Company had a total of 9,810,000 Common Shares authorized for repurchase under the Share Repurchase Program. The following is a summary of the Common Shares that were repurchased for the period ended March 31, 2026 and 2025 under the Share Repurchase Program and the Original Program:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n For the Period Ended | \n \u00a0 | \n |||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands, except per share data) | \n \u00a0 | \n |||||
Total Common Shares repurchased | \n \u00a0 | \n \u00a0 | \n 115,000 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 507,500 | \n \u00a0 | \n
Common Shares canceled | \n \u00a0 | \n \u00a0 | \n 115,000 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 637,000 | \n \u00a0 | \n
Weighted average price per share | \n \u00a0 | \n $ | \n 0.66 | \n \u00a0 | \n \u00a0 | \n $ | \n 0.45 | \n \u00a0 | \n
Total cost | \n \u00a0 | \n $ | \n 76 | \n \u00a0 | \n \u00a0 | \n $ | \n 221 | \n \u00a0 | \n
Excise tax (1) | \n \u00a0 | \n $ | \n 1 | \n \u00a0 | \n \u00a0 | \n $ | \n 10 | \n \u00a0 | \n
\u00a0
(1) The excise tax accrued in connection with the share repurchases was recorded as an adjustment to the cost basis of repurchased shares in treasury stock and within accrued expenses on the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, as applicable.
\u00a0
Warrants
The following is a summary of the outstanding warrants for Common Shares:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n Number of Common Share Warrants Outstanding | \n \u00a0 | \n \u00a0 | \n Number of Common Share Warrants Exercisable | \n \u00a0 | \n \u00a0 | \n Weighted Average Exercise Price $ | \n \u00a0 | \n \u00a0 | \n Weighted Average Remaining Life (years) | \n \u00a0 | \n ||||
Outstanding, December 31, 2025 | \n \u00a0 | \n \u00a0 | \n 23,253,480 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 779,352 | \n \u00a0 | \n \u00a0 | \n $ | \n 4.34 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6.80 | \n \u00a0 | \n
Granted | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Expired | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Outstanding, March 31, 2026 | \n \u00a0 | \n \u00a0 | \n 23,253,480 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 779,352 | \n \u00a0 | \n \u00a0 | \n $ | \n 4.34 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6.55 | \n \u00a0 | \n
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n For the Period Ended | \n \u00a0 | \n |||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands, except per share data) | \n \u00a0 | \n |||||
Total Common Shares repurchased | \n \u00a0 | \n \u00a0 | \n 115,000 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 507,500 | \n \u00a0 | \n
Common Shares canceled | \n \u00a0 | \n \u00a0 | \n 115,000 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 637,000 | \n \u00a0 | \n
Weighted average price per share | \n \u00a0 | \n $ | \n 0.66 | \n \u00a0 | \n \u00a0 | \n $ | \n 0.45 | \n \u00a0 | \n
Total cost | \n \u00a0 | \n $ | \n 76 | \n \u00a0 | \n \u00a0 | \n $ | \n 221 | \n \u00a0 | \n
Excise tax (1) | \n \u00a0 | \n $ | \n 1 | \n \u00a0 | \n \u00a0 | \n $ | \n 10 | \n \u00a0 | \n
\u00a0
(1) The excise tax accrued in connection with the share repurchases was recorded as an adjustment to the cost basis of repurchased shares in treasury stock and within accrued expenses on the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, as applicable.
"}]},{"name":"rpt:f-709","factDimensions":{"xbrl:concept":"us-gaap:StockRepurchasedDuringPeriodShares","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"115000"}]},{"name":"rpt:f-710","factDimensions":{"xbrl:concept":"us-gaap:StockRepurchasedDuringPeriodShares","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"507500"}]},{"name":"rpt:f-711","factDimensions":{"xbrl:concept":"tsndf:StockRepurchasedCanceledShares","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"115000"}]},{"name":"rpt:f-712","factDimensions":{"xbrl:concept":"tsndf:StockRepurchasedCanceledShares","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"637000"}]},{"name":"rpt:f-713","factDimensions":{"xbrl:concept":"tsndf:ShareRepurchaseProgramAveragePricePerShare","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"0.66","decimals":2}]},{"name":"rpt:f-714","factDimensions":{"xbrl:concept":"tsndf:ShareRepurchaseProgramAveragePricePerShare","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"0.45","decimals":2}]},{"name":"rpt:f-715","factDimensions":{"xbrl:concept":"us-gaap:StockRepurchasedDuringPeriodValue","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"76000","decimals":-3}]},{"name":"rpt:f-716","factDimensions":{"xbrl:concept":"us-gaap:StockRepurchasedDuringPeriodValue","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"221000","decimals":-3}]},{"name":"rpt:f-717","factDimensions":{"xbrl:concept":"us-gaap:ShareRepurchaseProgramExciseTax","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"1000","decimals":-3}]},{"name":"rpt:f-718","factDimensions":{"xbrl:concept":"us-gaap:ShareRepurchaseProgramExciseTax","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"10000","decimals":-3}]},{"name":"rpt:f-719","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","us-gaap:StatementEquityComponentsAxis":"us-gaap:CommonStockMember"},"factValues":[{"value":"The following is a summary of the outstanding warrants for Common Shares:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n Number of Common Share Warrants Outstanding | \n \u00a0 | \n \u00a0 | \n Number of Common Share Warrants Exercisable | \n \u00a0 | \n \u00a0 | \n Weighted Average Exercise Price $ | \n \u00a0 | \n \u00a0 | \n Weighted Average Remaining Life (years) | \n \u00a0 | \n ||||
Outstanding, December 31, 2025 | \n \u00a0 | \n \u00a0 | \n 23,253,480 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 779,352 | \n \u00a0 | \n \u00a0 | \n $ | \n 4.34 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6.80 | \n \u00a0 | \n
Granted | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Expired | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Outstanding, March 31, 2026 | \n \u00a0 | \n \u00a0 | \n 23,253,480 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 779,352 | \n \u00a0 | \n \u00a0 | \n $ | \n 4.34 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 6.55 | \n \u00a0 | \n
Share-based payments expense
\u00a0
Total share-based payments expense was as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Stock options | \n \u00a0 | \n $ | \n 660 | \n \u00a0 | \n \u00a0 | \n $ | \n 840 | \n \u00a0 | \n
Restricted share units | \n \u00a0 | \n \u00a0 | \n 225 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 674 | \n \u00a0 | \n
Total share-based payments | \n \u00a0 | \n $ | \n 885 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,514 | \n \u00a0 | \n
Stock Options
\u00a0
The following table summarizes the stock option activity for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n Number of Stock Options | \n \u00a0 | \n \u00a0 | \n Weighted average remaining contractual life (in years) | \n \u00a0 | \n Weighted Average Exercise Price (per share) $ | \n \u00a0 | \n Aggregate intrinsic value | \n \u00a0 | \n ||||
Outstanding, December 31, 2025 | \n \u00a0 | \n 13,903,573 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5.32 | \n \u00a0 | \n $ | \n 2.86 | \n \u00a0 | \n $ | \n 368 | \n \u00a0 | \n
Granted | \n \u00a0 | \n 40,000 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n 0.66 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Exercised | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Forfeited | \n \u00a0 | \n (133,627 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n 0.84 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Expired | \n \u00a0 | \n (938,142 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n 5.11 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Outstanding, March 31, 2026 | \n \u00a0 | \n 12,871,804 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5.36 | \n \u00a0 | \n $ | \n 2.71 | \n \u00a0 | \n $ | \n 250 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||||
Exercisable, March 31, 2026 | \n \u00a0 | \n 9,871,173 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4.51 | \n \u00a0 | \n $ | \n 3.17 | \n \u00a0 | \n $ | \n 56 | \n \u00a0 | \n
\u00a0
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between Company\u2019s closing stock price on March 31, 2026 and December 31, 2025, respectively, and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they exercised their in-the-money options on March 31, 2026 and December 31, 2025, respectively.
The fair value of the various stock options granted were estimated using the Black-Scholes Option Pricing Model (the \"Black-Scholes Model\") with the following assumptions:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
Volatility | \n \u00a0 | \n 93.26% - 94.78% | \n \u00a0 | \n \u00a0 | \n 72.55% - 75.19% | \n \u00a0 | \n ||
Risk-free interest rate | \n \u00a0 | \n 3.73% - 3.95% | \n \u00a0 | \n \u00a0 | \n 4.02% - 4.4% | \n \u00a0 | \n ||
Expected life (years) | \n \u00a0 | \n \u00a0 | \n 6.25 | \n \u00a0 | \n \u00a0 | \n 5.07\u00a0- 6.25 | \n \u00a0 | \n |
Dividend yield | \n \u00a0 | \n \u00a0 | \n 0.00 | \n % | \n \u00a0 | \n \u00a0 | \n 0.00 | \n % | \n
\u00a0
\u00a0
Volatility was estimated by using the historical volatility of the Company's stock price. The expected life in years represents the period of time that the options issued are expected to be outstanding. The risk-free rate is based on U.S. treasury bond issues with a remaining term approximately equal to the expected life of the options. Dividend yield reflects that the Company has never paid cash dividends and does not expect to pay cash dividends in the foreseeable future.
\u00a0
The total estimated fair value of stock options that vested during the three months ended March 31, 2026 and 2025 was $838 and $2,730, respectively. As of March 31, 2026, total unrecognized compensation cost related to unvested options was $1,707, which is expected to be recognized over a weighted-average period of 1.92 years.
Restricted Share Units
\u00a0
The following table summarizes the activities for the RSUs for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n Number of RSUs | \n \u00a0 | \n |
Outstanding, December 31, 2025 | \n \u00a0 | \n \u00a0 | \n 5,029,315 | \n \u00a0 | \n
Granted | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Vested | \n \u00a0 | \n \u00a0 | \n (10,143 | \n ) | \n
Forfeited | \n \u00a0 | \n \u00a0 | \n (32,467 | \n ) | \n
Outstanding, March 31, 2026 | \n \u00a0 | \n \u00a0 | \n 4,986,705 | \n \u00a0 | \n
\u00a0
As of March 31, 2026, total unrecognized compensation cost related to unvested RSUs was $1,948, which is expected to be recognized over a weighted-average period of 2.49 years.
"}]},{"name":"rpt:f-735","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"Total share-based payments expense was as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Stock options | \n \u00a0 | \n $ | \n 660 | \n \u00a0 | \n \u00a0 | \n $ | \n 840 | \n \u00a0 | \n
Restricted share units | \n \u00a0 | \n \u00a0 | \n 225 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 674 | \n \u00a0 | \n
Total share-based payments | \n \u00a0 | \n $ | \n 885 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,514 | \n \u00a0 | \n
The following table summarizes the stock option activity for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n Number of Stock Options | \n \u00a0 | \n \u00a0 | \n Weighted average remaining contractual life (in years) | \n \u00a0 | \n Weighted Average Exercise Price (per share) $ | \n \u00a0 | \n Aggregate intrinsic value | \n \u00a0 | \n ||||
Outstanding, December 31, 2025 | \n \u00a0 | \n 13,903,573 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5.32 | \n \u00a0 | \n $ | \n 2.86 | \n \u00a0 | \n $ | \n 368 | \n \u00a0 | \n
Granted | \n \u00a0 | \n 40,000 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n 0.66 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Exercised | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Forfeited | \n \u00a0 | \n (133,627 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n 0.84 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Expired | \n \u00a0 | \n (938,142 | \n ) | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n 5.11 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Outstanding, March 31, 2026 | \n \u00a0 | \n 12,871,804 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 5.36 | \n \u00a0 | \n $ | \n 2.71 | \n \u00a0 | \n $ | \n 250 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||||
Exercisable, March 31, 2026 | \n \u00a0 | \n 9,871,173 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4.51 | \n \u00a0 | \n $ | \n 3.17 | \n \u00a0 | \n $ | \n 56 | \n \u00a0 | \n
\u00a0
"}]},{"name":"rpt:f-743","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber","xbrl:period":"2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"13903573"}]},{"name":"rpt:f-744","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2","xbrl:period":"2025-01-01T00:00:00/2026-01-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"P5Y3M25D"}]},{"name":"rpt:f-745","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice","xbrl:period":"2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"2.86","decimals":2}]},{"name":"rpt:f-746","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue","xbrl:period":"2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"368000","decimals":-3}]},{"name":"rpt:f-747","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"40000"}]},{"name":"rpt:f-748","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"0.66","decimals":2}]},{"name":"rpt:f-749","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"133627"}]},{"name":"rpt:f-750","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"0.84","decimals":2}]},{"name":"rpt:f-751","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"938142"}]},{"name":"rpt:f-752","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"5.11","decimals":2}]},{"name":"rpt:f-753","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"12871804"}]},{"name":"rpt:f-754","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"P5Y4M9D"}]},{"name":"rpt:f-755","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"2.71","decimals":2}]},{"name":"rpt:f-756","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"250000","decimals":-3}]},{"name":"rpt:f-757","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"9871173"}]},{"name":"rpt:f-758","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"P4Y6M3D"}]},{"name":"rpt:f-759","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD/xbrla:shares"},"factValues":[{"value":"3.17","decimals":2}]},{"name":"rpt:f-760","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"56000","decimals":-3}]},{"name":"rpt:f-761","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The fair value of the various stock options granted were estimated using the Black-Scholes Option Pricing Model (the \"Black-Scholes Model\") with the following assumptions:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
Volatility | \n \u00a0 | \n 93.26% - 94.78% | \n \u00a0 | \n \u00a0 | \n 72.55% - 75.19% | \n \u00a0 | \n ||
Risk-free interest rate | \n \u00a0 | \n 3.73% - 3.95% | \n \u00a0 | \n \u00a0 | \n 4.02% - 4.4% | \n \u00a0 | \n ||
Expected life (years) | \n \u00a0 | \n \u00a0 | \n 6.25 | \n \u00a0 | \n \u00a0 | \n 5.07\u00a0- 6.25 | \n \u00a0 | \n |
Dividend yield | \n \u00a0 | \n \u00a0 | \n 0.00 | \n % | \n \u00a0 | \n \u00a0 | \n 0.00 | \n % | \n
\u00a0
"}]},{"name":"rpt:f-762","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.9326"}]},{"name":"rpt:f-763","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.9478"}]},{"name":"rpt:f-764","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.7255"}]},{"name":"rpt:f-765","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.7519"}]},{"name":"rpt:f-766","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.0373"}]},{"name":"rpt:f-767","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.0395"}]},{"name":"rpt:f-768","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.0402"}]},{"name":"rpt:f-769","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0.044"}]},{"name":"rpt:f-770","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"P6Y3M"}]},{"name":"rpt:f-771","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","srt:RangeAxis":"srt:MinimumMember"},"factValues":[{"value":"P5Y25D"}]},{"name":"rpt:f-772","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","srt:RangeAxis":"srt:MaximumMember"},"factValues":[{"value":"P6Y3M"}]},{"name":"rpt:f-773","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0","decimals":4}]},{"name":"rpt:f-774","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"0","decimals":4}]},{"name":"rpt:f-775","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:AwardTypeAxis":"us-gaap:EmployeeStockOptionMember"},"factValues":[{"value":"838000","decimals":-3}]},{"name":"rpt:f-776","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:AwardTypeAxis":"us-gaap:EmployeeStockOptionMember"},"factValues":[{"value":"2730000","decimals":-3}]},{"name":"rpt:f-777","factDimensions":{"xbrl:concept":"us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:AwardTypeAxis":"us-gaap:EmployeeStockOptionMember"},"factValues":[{"value":"1707000","decimals":-3}]},{"name":"rpt:f-778","factDimensions":{"xbrl:concept":"us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","us-gaap:AwardTypeAxis":"us-gaap:EmployeeStockOptionMember"},"factValues":[{"value":"P1Y11M1D"}]},{"name":"rpt:f-779","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The following table summarizes the activities for the RSUs for the period ended March 31, 2026:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n Number of RSUs | \n \u00a0 | \n |
Outstanding, December 31, 2025 | \n \u00a0 | \n \u00a0 | \n 5,029,315 | \n \u00a0 | \n
Granted | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Vested | \n \u00a0 | \n \u00a0 | \n (10,143 | \n ) | \n
Forfeited | \n \u00a0 | \n \u00a0 | \n (32,467 | \n ) | \n
Outstanding, March 31, 2026 | \n \u00a0 | \n \u00a0 | \n 4,986,705 | \n \u00a0 | \n
Non-controlling interest consists mainly of a 12.5% minority ownership interest in TerrAscend's New Jersey operations.
\u00a0
The following table summarizes the non-controlling interest activity for the period ended March 31, 2026:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Opening carrying amount | \n \u00a0 | \n $ | \n 1,536 | \n \u00a0 | \n \u00a0 | \n $ | \n (144 | \n ) | \n
Capital distributions | \n \u00a0 | \n \u00a0 | \n (1,188 | \n ) | \n \u00a0 | \n \u00a0 | \n (3,237 | \n ) | \n
Derecognition of non-controlling interest | \n \u00a0 | \n \u00a0 | \n 1,610 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 20 | \n \u00a0 | \n
Net income attributable to non-controlling interest | \n \u00a0 | \n \u00a0 | \n 1,056 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,897 | \n \u00a0 | \n
Ending carrying amount | \n \u00a0 | \n $ | \n 3,014 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,536 | \n \u00a0 | \n
The following table summarizes the non-controlling interest activity for the period ended March 31, 2026:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Opening carrying amount | \n \u00a0 | \n $ | \n 1,536 | \n \u00a0 | \n \u00a0 | \n $ | \n (144 | \n ) | \n
Capital distributions | \n \u00a0 | \n \u00a0 | \n (1,188 | \n ) | \n \u00a0 | \n \u00a0 | \n (3,237 | \n ) | \n
Derecognition of non-controlling interest | \n \u00a0 | \n \u00a0 | \n 1,610 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 20 | \n \u00a0 | \n
Net income attributable to non-controlling interest | \n \u00a0 | \n \u00a0 | \n 1,056 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,897 | \n \u00a0 | \n
Ending carrying amount | \n \u00a0 | \n $ | \n 3,014 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,536 | \n \u00a0 | \n
Parties are related if one party has the ability, directly or indirectly, to control or exercise significant influence over the other party in making financing and operating decisions. As of March 31, 2026, certain funds controlled by the Company's Executive Chairman, a related party of the Company, invested $1,600 as members of the loan syndicate, for an aggregate investment of $7,100 of the total loan principal balance of the FG Loan (see Note 10).
"}]},{"name":"rpt:f-801","factDimensions":{"xbrl:concept":"us-gaap:NotesPayable","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:RelatedPartyTransactionsByRelatedPartyAxis":"tsndf:JasonWildMember"},"factValues":[{"value":"1600000","decimals":-3}]},{"name":"rpt:f-802","factDimensions":{"xbrl:concept":"us-gaap:NotesPayable","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:RelatedPartyTransactionAxis":"us-gaap:RelatedPartyMember"},"factValues":[{"value":"7100000","decimals":-3}]},{"name":"rpt:f-803","factDimensions":{"xbrl:concept":"us-gaap:IncomeTaxDisclosureTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company's effective tax rate was 300% for the three months ended March 31, 2026, and 370% for the three months ended March 31, 2025.
The Company has computed its provision for income taxes based on the actual effective tax rate for the quarter as the Company believes this is the best estimate for the annual effective tax rate. The Company is subject to income taxes in the United States and Canada.
Significant judgment is required in evaluating the Company\u2019s uncertain tax positions and determining the provision for income taxes. The Company recognizes benefits from uncertain tax positions based on the cumulative probability method whereby the largest benefit
with a cumulative probability of greater than 50% is recorded. An uncertain tax position is not recognized if it has less than a 50% likelihood of being sustained.
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the period presented:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Balance at beginning of year | \n \u00a0 | \n $ | \n 177,047 | \n \u00a0 | \n \u00a0 | \n $ | \n 148,979 | \n \u00a0 | \n
Increase based on tax positions related to current periods | \n \u00a0 | \n \u00a0 | \n 10,505 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 39,970 | \n \u00a0 | \n
Increase based on tax positions related to prior periods | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,095 | \n \u00a0 | \n
Settlements with tax authorities | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (15,997 | \n ) | \n
Balance at end of year | \n \u00a0 | \n $ | \n 187,552 | \n \u00a0 | \n \u00a0 | \n $ | \n 177,047 | \n \u00a0 | \n
A reconciliation of the beginning and ending amount of uncertain tax liabilities, inclusive of accruals for related penalties and interest, for the period presented:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Balance, beginning of year | \n \u00a0 | \n $ | \n 128,798 | \n \u00a0 | \n \u00a0 | \n $ | \n 106,991 | \n \u00a0 | \n
Reductions based on tax positions related to prior years | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (15,212 | \n ) | \n
Additions based on tax positions related to prior years | \n \u00a0 | \n \u00a0 | \n 2,930 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 9,842 | \n \u00a0 | \n
Additions based on tax positions related to current year | \n \u00a0 | \n \u00a0 | \n 7,050 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 27,177 | \n \u00a0 | \n
Ending carrying amount (1) | \n \u00a0 | \n $ | \n 138,778 | \n \u00a0 | \n \u00a0 | \n $ | \n 128,798 | \n \u00a0 | \n
\u00a0
(1) Interest and penalties related to uncertain tax liabilities are recorded as components of the provision for income taxes. As of March 31, 2026 and December 31, 2025, the Company had interest and penalties accrued of $22,719 and $19,803, respectively.
\u00a0
The increase in uncertain tax positions is primarily due to legal interpretations that challenge the application of Section 280E of the Code to the Company (\u201c280E Tax Position\u201d). The Company believes it is reasonably possible that the unrecognized tax benefits will increase over the next twelve months due to its 280E Tax Position.
\u00a0
The Company files income tax returns in the U.S. federal jurisdiction, multiple U.S. state jurisdictions, and certain non-U.S. jurisdictions. The Company and its subsidiaries are subject to examination by various U.S. and non-U.S. taxing authorities. The Company is no longer subject to U.S. federal, state, or non-U.S. income tax examinations for tax years prior to 2022, other than items under examination. The Company is currently under examination by the Internal Revenue Service for U.S. federal income tax years . On April 6, 2026, the Company received correspondence from the U.S. Department of Justice (\"DOJ\") related to a federal income tax refund previously received by the Company for the 2020 tax year. The correspondence seeks repayment of approximately $9,533 million, inclusive of estimated interest of $1,172. The Company is evaluating the matter, believes it has substantive defenses to the assertions raised, and intends to vigorously defend its position if the DOJ does in fact pursue the matter against the Company. Based on information currently available, the recent rescheduling of medical cannabis, and in consultation with external legal and tax advisors, the Company believes the likelihood of loss is not probable and, accordingly, no liability has been recorded as of March 31, 2026.
"}]},{"name":"rpt:f-804","factDimensions":{"xbrl:concept":"us-gaap:EffectiveIncomeTaxRateContinuingOperations","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"3","decimals":2}]},{"name":"rpt:f-805","factDimensions":{"xbrl:concept":"us-gaap:EffectiveIncomeTaxRateContinuingOperations","xbrl:period":"2025-01-01T00:00:00/2025-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"3.70","decimals":2}]},{"name":"rpt:f-806","factDimensions":{"xbrl:concept":"tsndf:UncertainTaxPositionsDescription","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company recognizes benefits from uncertain tax positions based on the cumulative probability method whereby the largest benefit with a cumulative probability of greater than 50% is recorded. An uncertain tax position is not recognized if it has less than a 50% likelihood of being sustained."}]},{"name":"rpt:f-807","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"A reconciliation of the beginning and ending amount of unrecognized tax benefits for the period presented:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Balance at beginning of year | \n \u00a0 | \n $ | \n 177,047 | \n \u00a0 | \n \u00a0 | \n $ | \n 148,979 | \n \u00a0 | \n
Increase based on tax positions related to current periods | \n \u00a0 | \n \u00a0 | \n 10,505 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 39,970 | \n \u00a0 | \n
Increase based on tax positions related to prior periods | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4,095 | \n \u00a0 | \n
Settlements with tax authorities | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (15,997 | \n ) | \n
Balance at end of year | \n \u00a0 | \n $ | \n 187,552 | \n \u00a0 | \n \u00a0 | \n $ | \n 177,047 | \n \u00a0 | \n
A reconciliation of the beginning and ending amount of uncertain tax liabilities, inclusive of accruals for related penalties and interest, for the period presented:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Balance, beginning of year | \n \u00a0 | \n $ | \n 128,798 | \n \u00a0 | \n \u00a0 | \n $ | \n 106,991 | \n \u00a0 | \n
Reductions based on tax positions related to prior years | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n (15,212 | \n ) | \n
Additions based on tax positions related to prior years | \n \u00a0 | \n \u00a0 | \n 2,930 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 9,842 | \n \u00a0 | \n
Additions based on tax positions related to current year | \n \u00a0 | \n \u00a0 | \n 7,050 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 27,177 | \n \u00a0 | \n
Ending carrying amount (1) | \n \u00a0 | \n $ | \n 138,778 | \n \u00a0 | \n \u00a0 | \n $ | \n 128,798 | \n \u00a0 | \n
\u00a0
(1) Interest and penalties related to uncertain tax liabilities are recorded as components of the provision for income taxes. As of March 31, 2026 and December 31, 2025, the Company had interest and penalties accrued of $22,719 and $19,803, respectively.
"}]},{"name":"rpt:f-817","factDimensions":{"xbrl:concept":"tsndf:LiabilityOnUncertainTaxPosition","xbrl:period":"2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"128798000","decimals":-3}]},{"name":"rpt:f-818","factDimensions":{"xbrl:concept":"tsndf:LiabilityOnUncertainTaxPosition","xbrl:period":"2025-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"106991000","decimals":-3}]},{"name":"rpt:f-819","factDimensions":{"xbrl:concept":"tsndf:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedDecreaseResultingFromPriorPeriodTaxPositions","xbrl:period":"2025-01-01T00:00:00/2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"-15212000","decimals":-3}]},{"name":"rpt:f-820","factDimensions":{"xbrl:concept":"tsndf:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedIncreaseResultingFromPriorPeriodTaxPositions","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"2930000","decimals":-3}]},{"name":"rpt:f-821","factDimensions":{"xbrl:concept":"tsndf:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedIncreaseResultingFromPriorPeriodTaxPositions","xbrl:period":"2025-01-01T00:00:00/2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"9842000","decimals":-3}]},{"name":"rpt:f-822","factDimensions":{"xbrl:concept":"tsndf:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedIncreaseResultingFromCurrentPeriodTaxPositions","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"7050000","decimals":-3}]},{"name":"rpt:f-823","factDimensions":{"xbrl:concept":"tsndf:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccruedIncreaseResultingFromCurrentPeriodTaxPositions","xbrl:period":"2025-01-01T00:00:00/2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"27177000","decimals":-3}]},{"name":"rpt:f-824","factDimensions":{"xbrl:concept":"tsndf:LiabilityOnUncertainTaxPosition","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"138778000","decimals":-3}]},{"name":"rpt:f-825","factDimensions":{"xbrl:concept":"tsndf:LiabilityOnUncertainTaxPosition","xbrl:period":"2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"128798000","decimals":-3}]},{"name":"rpt:f-826","factDimensions":{"xbrl:concept":"us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued","xbrl:period":"2026-04-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"22719000","decimals":-3}]},{"name":"rpt:f-827","factDimensions":{"xbrl:concept":"us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued","xbrl:period":"2026-01-01T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"19803000","decimals":-3}]},{"name":"rpt:f-828","factDimensions":{"xbrl:concept":"us-gaap:IncomeTaxPaidFederalBeforeRefundReceived","xbrl:period":"2026-04-06T00:00:00/2026-04-07T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:SubsequentEventTypeAxis":"us-gaap:SubsequentEventMember"},"factValues":[{"value":"9533000000","decimals":-6}]},{"name":"rpt:f-829","factDimensions":{"xbrl:concept":"us-gaap:IncomeTaxExaminationInterestExpense","xbrl:period":"2026-04-06T00:00:00/2026-04-07T00:00:00","xbrl:entity":"cik:0001778129","xbrl:unit":"iso4217:USD","us-gaap:SubsequentEventTypeAxis":"us-gaap:SubsequentEventMember"},"factValues":[{"value":"1172000","decimals":-3}]},{"name":"rpt:f-830","factDimensions":{"xbrl:concept":"tsndf:GeneralAndAdministrativeExpensesTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company\u2019s general and administrative expenses were as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n For the Three Months Ended | \n \u00a0 | \n |||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Salaries and wages | \n \u00a0 | \n $ | \n 12,546 | \n \u00a0 | \n \u00a0 | \n $ | \n 11,975 | \n \u00a0 | \n
Office and general | \n \u00a0 | \n \u00a0 | \n 2,645 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,575 | \n \u00a0 | \n
Professional fees | \n \u00a0 | \n \u00a0 | \n 1,661 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,151 | \n \u00a0 | \n
Sales and marketing | \n \u00a0 | \n \u00a0 | \n 1,523 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 791 | \n \u00a0 | \n
Lease expense | \n \u00a0 | \n \u00a0 | \n 1,157 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,154 | \n \u00a0 | \n
Share-based compensation | \n \u00a0 | \n \u00a0 | \n 885 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,514 | \n \u00a0 | \n
Facility and maintenance | \n \u00a0 | \n \u00a0 | \n 642 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 509 | \n \u00a0 | \n
Provision for expected credit losses | \n \u00a0 | \n \u00a0 | \n 239 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 480 | \n \u00a0 | \n
Board of directors cash compensation | \n \u00a0 | \n \u00a0 | \n 199 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 21,497 | \n \u00a0 | \n \u00a0 | \n $ | \n 21,149 | \n \u00a0 | \n
The Company\u2019s general and administrative expenses were as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n For the Three Months Ended | \n \u00a0 | \n |||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Salaries and wages | \n \u00a0 | \n $ | \n 12,546 | \n \u00a0 | \n \u00a0 | \n $ | \n 11,975 | \n \u00a0 | \n
Office and general | \n \u00a0 | \n \u00a0 | \n 2,645 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,575 | \n \u00a0 | \n
Professional fees | \n \u00a0 | \n \u00a0 | \n 1,661 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 2,151 | \n \u00a0 | \n
Sales and marketing | \n \u00a0 | \n \u00a0 | \n 1,523 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 791 | \n \u00a0 | \n
Lease expense | \n \u00a0 | \n \u00a0 | \n 1,157 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,154 | \n \u00a0 | \n
Share-based compensation | \n \u00a0 | \n \u00a0 | \n 885 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,514 | \n \u00a0 | \n
Facility and maintenance | \n \u00a0 | \n \u00a0 | \n 642 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 509 | \n \u00a0 | \n
Provision for expected credit losses | \n \u00a0 | \n \u00a0 | \n 239 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 480 | \n \u00a0 | \n
Board of directors cash compensation | \n \u00a0 | \n \u00a0 | \n 199 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 21,497 | \n \u00a0 | \n \u00a0 | \n $ | \n 21,149 | \n \u00a0 | \n
The Company\u2019s disaggregated net revenue by source, primarily due to the Company\u2019s contracts with its external customers was as follows:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Retail | \n \u00a0 | \n $ | \n 46,407 | \n \u00a0 | \n \u00a0 | \n $ | \n 40,832 | \n \u00a0 | \n
Wholesale | \n \u00a0 | \n \u00a0 | \n 19,132 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,471 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 65,539 | \n \u00a0 | \n \u00a0 | \n $ | \n 64,303 | \n \u00a0 | \n
For the period ended March 31, 2026 and 2025, the Company did not have any single customer that accounted for 10% or more of the Company\u2019s revenue.
"}]},{"name":"rpt:f-853","factDimensions":{"xbrl:concept":"us-gaap:DisaggregationOfRevenueTableTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"The Company\u2019s disaggregated net revenue by source, primarily due to the Company\u2019s contracts with its external customers was as follows:
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Retail | \n \u00a0 | \n $ | \n 46,407 | \n \u00a0 | \n \u00a0 | \n $ | \n 40,832 | \n \u00a0 | \n
Wholesale | \n \u00a0 | \n \u00a0 | \n 19,132 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 23,471 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 65,539 | \n \u00a0 | \n \u00a0 | \n $ | \n 64,303 | \n \u00a0 | \n
The Company\u2019s finance and other expenses included the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Interest | \n \u00a0 | \n $ | \n 7,422 | \n \u00a0 | \n \u00a0 | \n $ | \n 6,683 | \n \u00a0 | \n
Accretion | \n \u00a0 | \n \u00a0 | \n 2,331 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,736 | \n \u00a0 | \n
Other (income) expense | \n \u00a0 | \n \u00a0 | \n (428 | \n ) | \n \u00a0 | \n \u00a0 | \n (86 | \n ) | \n
Total | \n \u00a0 | \n $ | \n 9,325 | \n \u00a0 | \n \u00a0 | \n $ | \n 8,333 | \n \u00a0 | \n
The Company\u2019s finance and other expenses included the following:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
Interest | \n \u00a0 | \n $ | \n 7,422 | \n \u00a0 | \n \u00a0 | \n $ | \n 6,683 | \n \u00a0 | \n
Accretion | \n \u00a0 | \n \u00a0 | \n 2,331 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,736 | \n \u00a0 | \n
Other (income) expense | \n \u00a0 | \n \u00a0 | \n (428 | \n ) | \n \u00a0 | \n \u00a0 | \n (86 | \n ) | \n
Total | \n \u00a0 | \n $ | \n 9,325 | \n \u00a0 | \n \u00a0 | \n $ | \n 8,333 | \n \u00a0 | \n
\u00a0
Operating Segment
\u00a0
The Company has determined that it operates as one reportable segment focused on the production and sale of cannabis products. While the Company manages its operations through state-level operating segments, these segments have been aggregated into one reportable segment due to similar long-term economic characteristics and other required criteria of similarity outlined in ASC 280, Segment Reporting, and in accordance with ASU 2023-07. The Chief Operating Decision Maker (\u201cCODM\u201d) was determined to be the of the Company. The CODM regularly evaluates the performance of the single reportable segment using gross
profit margin as its closest measure to GAAP. Gross margin is a measure that is calculated as total revenue minus cost of goods sold, divided by total revenue. The CODM monitors this metric to assess the efficiency of the Company\u2019s production and distribution processes, as well as the effectiveness of pricing strategies.
\u00a0
| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n |||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n ||||||
Revenue, net | \n \u00a0 | \n $ | \n 65,539 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n $ | \n 64,303 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Cost of sales | \n \u00a0 | \n \u00a0 | \n 30,937 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 29,622 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Gross profit | \n \u00a0 | \n \u00a0 | \n 34,602 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 34,681 | \n \u00a0 | \n
Gross profit margin | \n \u00a0 | \n \u00a0 | \n 52.8 | \n % | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 53.9 | \n % | \n
Assets
The measure of reportable segment assets is consistent with the presentation of total consolidated assets as reported on the Consolidated Balance Sheets.
Geography
The Company has subsidiaries located in Canada and the United States. For the three months ended March 31, 2026, net revenue was primarily generated from sales in the United States. The Company consolidated its retail location in Canada generated net revenue of $169 and $178 for the three months ended March 31, 2026 and March 31, 2025, respectively.
\u00a0
The Company had non-current assets by geography of:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
United States | \n \u00a0 | \n $ | \n 445,967 | \n \u00a0 | \n \u00a0 | \n $ | \n 446,748 | \n \u00a0 | \n
Canada | \n \u00a0 | \n \u00a0 | \n 689 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 523 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 446,656 | \n \u00a0 | \n \u00a0 | \n $ | \n 447,271 | \n \u00a0 | \n
| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n For the Three Months Ended | \n \u00a0 | \n |||||||
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n March 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n ||||||
Revenue, net | \n \u00a0 | \n $ | \n 65,539 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n $ | \n 64,303 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Cost of sales | \n \u00a0 | \n \u00a0 | \n 30,937 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 29,622 | \n \u00a0 | \n
\u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||
Gross profit | \n \u00a0 | \n \u00a0 | \n 34,602 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 34,681 | \n \u00a0 | \n
Gross profit margin | \n \u00a0 | \n \u00a0 | \n 52.8 | \n % | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 53.9 | \n % | \n
The Company had non-current assets by geography of:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||
United States | \n \u00a0 | \n $ | \n 445,967 | \n \u00a0 | \n \u00a0 | \n $ | \n 446,748 | \n \u00a0 | \n
Canada | \n \u00a0 | \n \u00a0 | \n 689 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 523 | \n \u00a0 | \n
Total | \n \u00a0 | \n $ | \n 446,656 | \n \u00a0 | \n \u00a0 | \n $ | \n 447,271 | \n \u00a0 | \n
Assets and liabilities measured at fair value
Financial instruments recorded at fair value are estimated by applying a fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy is summarized as follows:
The following table represents the fair value amounts of financial assets and financial liabilities:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n At March 31, 2026 | \n \u00a0 | \n At December 31, 2025 | \n \u00a0 | \n ||||||||||||||||||||
\u00a0 | \n \u00a0 | \n Level 1 | \n \u00a0 | \n \u00a0 | \n Level 2 | \n \u00a0 | \n \u00a0 | \n Level 3 | \n \u00a0 | \n \u00a0 | \n Level 1 | \n \u00a0 | \n \u00a0 | \n Level 2 | \n \u00a0 | \n \u00a0 | \n Level 3 | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||||||||||||||||||
Assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||||||
Cash and cash equivalents | \n \u00a0 | \n $ | \n 39,004 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 37,414 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Restricted cash | \n \u00a0 | \n \u00a0 | \n 110 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 110 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Purchase option | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 13,000 | \n \u00a0 | \n
Total Assets | \n \u00a0 | \n $ | \n 39,114 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 37,524 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 13,000 | \n \u00a0 | \n
Liabilities | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||||||
Bifurcated conversion options | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,795 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 3,188 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total Liabilities | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,795 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,188 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n
\u00a0
There were no transfers between the levels of fair value hierarchy during the period ended March 31, 2026.
The valuation approaches and key inputs for each category of assets or liabilities that are classified within levels of the fair value hierarchy are presented below:
Level 1
\u00a0
Includes cash, cash equivalents, and restricted cash represent financial instruments for which the carrying amount approximates fair value due to their short-term maturities.
Level 2
Includes detachable warrants, bifurcated conversion options, and a contingent consideration, which are valued using the Black-Scholes Model with observable market inputs such as stock price, historical volatility, risk-free rate, and expected term. These inputs are derived from market data and do not require significant judgment.
\u00a0
The following table summarizes the changes in the derivative liability:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
Balance at December 31, 2025 | \n \u00a0 | \n $ | \n 3,188 | \n \u00a0 | \n
Fair value loss on revaluation of bifurcated conversion options | \n \u00a0 | \n \u00a0 | \n (1,403 | \n ) | \n
Effects of movements in foreign exchange | \n \u00a0 | \n \u00a0 | \n 10 | \n \u00a0 | \n
Balance at March 31, 2026 | \n \u00a0 | \n $ | \n 1,795 | \n \u00a0 | \n
\u00a0
Bifurcated conversion options
The conversion option bifurcated from the Private Placement Convertible Debentures has been measured at fair value as of March 31, 2026 and December 31, 2025. Key inputs and assumptions used in the Black-Scholes Model were as follows:
\n
| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
Option exercise price | \n \u00a0 | \n $ | \n 2.01 | \n \u00a0 | \n \u00a0 | \n $ | \n 2.01 | \n \u00a0 | \n
Annual volatility | \n \u00a0 | \n \u00a0 | \n 132.8 | \n % | \n \u00a0 | \n \u00a0 | \n 158.3 | \n % | \n
Annual risk-free rate | \n \u00a0 | \n \u00a0 | \n 3.70 | \n % | \n \u00a0 | \n \u00a0 | \n 3.76 | \n % | \n
Expected term (in years) | \n \u00a0 | \n 0.23 - 0.34 | \n \u00a0 | \n \u00a0 | \n 0.48 - 0.59 | \n \u00a0 | \n
\u00a0
The conversion option bifurcated from the Union Chill Convertible Promissory Note has been measured at fair value as of March 31, 2026 and December 31, 2025. Key assumptions used in the Black-Scholes Model were as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
Option exercise price | \n \u00a0 | \n $ | \n 1.89 | \n \u00a0 | \n \u00a0 | \n $ | \n 1.89 | \n \u00a0 | \n
Annual volatility | \n \u00a0 | \n \u00a0 | \n 111.7 | \n % | \n \u00a0 | \n \u00a0 | \n 105.3 | \n % | \n
Annual risk-free rate | \n \u00a0 | \n \u00a0 | \n 3.87 | \n % | \n \u00a0 | \n \u00a0 | \n 3.61 | \n % | \n
Expected term (in years) | \n \u00a0 | \n \u00a0 | \n 3.74 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4.00 | \n \u00a0 | \n
The following table represents the fair value amounts of financial assets and financial liabilities:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n At March 31, 2026 | \n \u00a0 | \n At December 31, 2025 | \n \u00a0 | \n ||||||||||||||||||||
\u00a0 | \n \u00a0 | \n Level 1 | \n \u00a0 | \n \u00a0 | \n Level 2 | \n \u00a0 | \n \u00a0 | \n Level 3 | \n \u00a0 | \n \u00a0 | \n Level 1 | \n \u00a0 | \n \u00a0 | \n Level 2 | \n \u00a0 | \n \u00a0 | \n Level 3 | \n \u00a0 | \n ||||||
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |||||||||||||||||||||
Assets | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||||||
Cash and cash equivalents | \n \u00a0 | \n $ | \n 39,004 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 37,414 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Restricted cash | \n \u00a0 | \n \u00a0 | \n 110 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 110 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Purchase option | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 13,000 | \n \u00a0 | \n
Total Assets | \n \u00a0 | \n $ | \n 39,114 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 37,524 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 13,000 | \n \u00a0 | \n
Liabilities | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n ||||||
Bifurcated conversion options | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 1,795 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 3,188 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n \u2014 | \n \u00a0 | \n
Total Liabilities | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 1,795 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n \u00a0 | \n $ | \n 3,188 | \n \u00a0 | \n \u00a0 | \n $ | \n \u2014 | \n \u00a0 | \n
The following table summarizes the changes in the derivative liability:
\u00a0
\n| \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n (In thousands) | \n \u00a0 | \n |
Balance at December 31, 2025 | \n \u00a0 | \n $ | \n 3,188 | \n \u00a0 | \n
Fair value loss on revaluation of bifurcated conversion options | \n \u00a0 | \n \u00a0 | \n (1,403 | \n ) | \n
Effects of movements in foreign exchange | \n \u00a0 | \n \u00a0 | \n 10 | \n \u00a0 | \n
Balance at March 31, 2026 | \n \u00a0 | \n $ | \n 1,795 | \n \u00a0 | \n
The conversion option bifurcated from the Private Placement Convertible Debentures has been measured at fair value as of March 31, 2026 and December 31, 2025. Key inputs and assumptions used in the Black-Scholes Model were as follows:
\n
| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
Option exercise price | \n \u00a0 | \n $ | \n 2.01 | \n \u00a0 | \n \u00a0 | \n $ | \n 2.01 | \n \u00a0 | \n
Annual volatility | \n \u00a0 | \n \u00a0 | \n 132.8 | \n % | \n \u00a0 | \n \u00a0 | \n 158.3 | \n % | \n
Annual risk-free rate | \n \u00a0 | \n \u00a0 | \n 3.70 | \n % | \n \u00a0 | \n \u00a0 | \n 3.76 | \n % | \n
Expected term (in years) | \n \u00a0 | \n 0.23 - 0.34 | \n \u00a0 | \n \u00a0 | \n 0.48 - 0.59 | \n \u00a0 | \n
The conversion option bifurcated from the Union Chill Convertible Promissory Note has been measured at fair value as of March 31, 2026 and December 31, 2025. Key assumptions used in the Black-Scholes Model were as follows:
\u00a0
\n| \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0 | \n \u00a0 | \n March 31, 2026 | \n \u00a0 | \n \u00a0 | \n December 31, 2025 | \n \u00a0 | \n ||
Option exercise price | \n \u00a0 | \n $ | \n 1.89 | \n \u00a0 | \n \u00a0 | \n $ | \n 1.89 | \n \u00a0 | \n
Annual volatility | \n \u00a0 | \n \u00a0 | \n 111.7 | \n % | \n \u00a0 | \n \u00a0 | \n 105.3 | \n % | \n
Annual risk-free rate | \n \u00a0 | \n \u00a0 | \n 3.87 | \n % | \n \u00a0 | \n \u00a0 | \n 3.61 | \n % | \n
Expected term (in years) | \n \u00a0 | \n \u00a0 | \n 3.74 | \n \u00a0 | \n \u00a0 | \n \u00a0 | \n 4.00 | \n \u00a0 | \n
\u00a0
Commitments
\u00a0
As of March 31, 2026, the Company did not have any material commitments.
\u00a0
Legal proceedings
\u00a0
In the ordinary course of business, the Company is involved in a number of lawsuits incidental to its business, including litigation related to intellectual property, product liability, employment, and commercial matters. Although it is difficult to predict the ultimate outcome of these matters, management believes that any ultimate liability would not have a material adverse effect on the Consolidated Financial Statements. At March 31, 2026, there were no pending lawsuits that could reasonably be expected to have a material effect on the results of the Company\u2019s Consolidated Financial Statements"}]},{"name":"rpt:f-934","factDimensions":{"xbrl:concept":"us-gaap:SubsequentEventsTextBlock","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"\u00a0
Effective April 27, 2026, the Company appointed Eric Jackson as Chief Financial Officer.
\u00a0
On April 23, 2026, the Acting Attorney General issued a Final Order reclassifying cannabis for medical use from Schedule I to Schedule III under the Controlled Substances Act (\u201cCSA\u201d). The Final Order does not apply to adult-use cannabis which remains classified as a Schedule I controlled substance. The Final Order, effective as published in the Federal Register on April 28, 2026, establishes an expedited registration process for state medical licensees and indicates that registered state medical licensees would no longer be subject to Section 280E following the effective date of the Final Order. Additionally, the Final Order recommends to the Secretary of the Treasury that retrospective 280E relief be granted to licensees in line with their state medical license start dates. Separately, the Attorney General withdrew the pending hearing related to the proposed rulemaking notice issued in 2024 and instituted a new expedited hearing process starting on June 29, 2026 addressing both medical and adult-use cannabis. The IRS has publicly indicated that, for Section 280E purposes, forthcoming guidance regarding the impact of rescheduling may include a transition rule allowing rescheduling relief to apply beginning with the taxable year that includes the effective date of the Final Order for activities no longer involving Schedule I or II substances; however, formal IRS guidance has not been issued yet. The ultimate impact of these developments, including the potential impact on previously recorded uncertain tax positions, remains uncertain and subject to ongoing evaluation due to the complexity of the evolving regulatory and tax environment. Accordingly, the Company is continuing to assess the potential financial statement impacts and is unable to reasonably estimate the ultimate effect at this time.
\u00a0
On June 30, 2025, the Company, together with TerrAscend Corp.'s consolidated entities, announced its intention to sell or divest substantially all of the Company's Michigan assets, the majority of which were classified as discontinued operations as of such date.
In connection with the above, on May 5, 2026, the Company's primary lender filed an application for receivership in Michigan, and the related Michigan entities stipulated to the appointment of a receiver. On May 6, 2026, the court entered an order appointing a receiver over the Michigan entities. These events are limited to the Company's Michigan entities and do not impact the Company's continuing operations. The Company is evaluating the accounting impact of the receivership, including its effect on the Company's consolidation of the related Michigan entities in accordance with ASC 810, Consolidation. For further information, refer to Item 5. \"Other Information\" in this Quarterly Report on Form 10-Q.
"}]},{"name":"rpt:f-935","factDimensions":{"xbrl:concept":"ecd:Rule10b51ArrAdoptedFlag","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"false"}]},{"name":"rpt:f-936","factDimensions":{"xbrl:concept":"ecd:NonRule10b51ArrAdoptedFlag","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"false"}]},{"name":"rpt:f-937","factDimensions":{"xbrl:concept":"ecd:Rule10b51ArrTrmntdFlag","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"false"}]},{"name":"rpt:f-938","factDimensions":{"xbrl:concept":"ecd:NonRule10b51ArrTrmntdFlag","xbrl:period":"2026-01-01T00:00:00/2026-04-01T00:00:00","xbrl:entity":"cik:0001778129"},"factValues":[{"value":"false"}]}]}}