Annual report [Section 13 and 15(d), not S-K Item 405]

Property, Plant and Equipment

v3.26.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 7 – Property, Plant and Equipment

 

 

 

 

As of December 31, 2025

 

 

 

 

Cost

 

 

 

Accumulated Depreciation

 

 

 

Net Book Value

 

Buildings

 

$

 

79,957

 

 

$

 

14,700

 

 

$

 

65,257

 

Leasehold improvements

 

 

 

50,142

 

 

 

 

28,898

 

 

 

 

21,244

 

Production equipment

 

 

 

6,176

 

 

 

 

1,709

 

 

 

 

4,467

 

Processing equipment

 

 

 

5,953

 

 

 

 

2,072

 

 

 

 

3,881

 

Sales equipment

 

 

 

1,155

 

 

 

 

822

 

 

 

 

333

 

Office equipment

 

 

 

7,741

 

 

 

 

5,816

 

 

 

 

1,925

 

Land

 

 

2,716

 

 

 

 

—

 

 

 

 

2,716

 

Construction in progress

 

 

 

4,909

 

 

 

 

—

 

 

 

 

4,909

 

Total

 

$

 

158,749

 

 

$

 

54,017

 

 

$

 

104,732

 

 

 

 

 

As of December 31, 2024

 

 

 

 

Cost

 

 

 

Accumulated Depreciation

 

 

 

Net Book Value

 

Buildings

 

$

 

71,870

 

 

$

 

11,970

 

 

$

 

59,900

 

Leasehold improvements

 

 

 

41,439

 

 

 

 

26,057

 

 

 

 

15,382

 

Production equipment

 

 

 

2,403

 

 

 

 

1,324

 

 

 

 

1,079

 

Processing equipment

 

 

 

2,801

 

 

 

 

1,559

 

 

 

 

1,242

 

Sales equipment

 

 

 

896

 

 

 

 

784

 

 

 

 

112

 

Office equipment

 

 

 

6,551

 

 

 

 

5,352

 

 

 

 

1,199

 

Land

 

 

 

2,716

 

 

 

 

—

 

 

 

 

2,716

 

Construction in progress

 

 

 

5,858

 

 

 

 

—

 

 

 

 

5,858

 

Total

 

$

 

134,534

 

 

$

 

47,046

 

 

$

 

87,488

 

 

For the year ended December 31, 2025, the Company recorded depreciation expense on property, plant, and equipment of $7.0 million (December 31, 2024— $8.8 million).

During the year ended December 31, 2025, the Company disposed $1.4 million of property, net (December 31, 2024—$0.2 million), primarily related to the sale of facility equipment, with total consideration of approximately $0.6 million, resulting in a loss of $0.8 million, which is included within "write-downs, recoveries, and other charges, net" on the consolidated statements of operations.

Capital expenditure additions during the year ended December 31, 2025 amounted to $25.7 million (December 31, 2024—$5.5 million) to fund various cultivation, processing and dispensary projects, of which $1.9 million (December 31, 2024 - $0.5 million) is currently unpaid and outstanding.