| Schedule of Segment Reporting Information, by Segment |
The following table sets forth information by reportable segment for the years ended December 31, 2022 and 2021. There were no material intersegment sales during the years ended December 31, 2022 and 2021.
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For the year ended December 31, 2022 |
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For the year ended December 31, 2021 |
| (in thousands) |
Consumer Goods |
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Industrial Goods |
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Total |
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Consumer Goods |
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Industrial Goods |
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Total |
| Net sales |
$ |
48,134 |
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$ |
88,951 |
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$ |
137,085 |
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$ |
110,105 |
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$ |
55,955 |
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$ |
166,060 |
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| Cost of sales |
38,531 |
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73,571 |
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112,102 |
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87,561 |
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44,646 |
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132,207 |
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| Gross profit |
$ |
9,603 |
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$ |
15,380 |
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$ |
24,983 |
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$ |
22,544 |
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$ |
11,309 |
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$ |
33,853 |
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The following table sets forth specific asset categories which are reviewed by our CODM in the evaluation of operating segments:
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As of December 31, 2022 |
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As of December 31, 2021 |
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| (in thousands) |
Consumer Goods |
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Industrial Goods |
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Total |
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Consumer Goods |
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Industrial Goods |
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Total |
| Accounts receivable, net |
$ |
967 |
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$ |
5,501 |
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$ |
6,468 |
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$ |
3,746 |
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$ |
10,944 |
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$ |
14,690 |
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| Inventories, net |
$ |
19,259 |
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$ |
21,384 |
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$ |
40,643 |
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$ |
32,142 |
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$ |
34,840 |
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$ |
66,982 |
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| Vendor deposits |
$ |
3,269 |
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$ |
3,027 |
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$ |
6,296 |
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$ |
9,675 |
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$ |
8,800 |
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$ |
18,475 |
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The following table sets forth our net sales by major product category:
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For the year ended December 31, |
| (in thousands) |
2022 |
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2021 |
| Industrial Vape Products |
53,664 |
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25,312 |
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| Other Industrial Products |
35,287 |
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30,643 |
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| Consumer Products - Greenlane Brands |
15,063 |
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26,067 |
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| Consumer Products - 3rd Party Brands |
33,071 |
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84,038 |
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| Total net sales |
$ |
137,085 |
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$ |
166,060 |
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The following table sets forth net sales disaggregated by geography:
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For the year ended December 31, |
| (in thousands) |
2022 |
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2021 |
| United States |
$ |
126,333 |
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$ |
146,006 |
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| Canada |
5,810 |
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9,717 |
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| Europe |
4,942 |
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10,337 |
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| Total net sales |
$ |
137,085 |
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$ |
166,060 |
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The following table sets forth our long-lived assets by geographic area, which consist of property and equipment, net, and operating lease right-of-use assets:
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As of December 31, |
| (in thousands) |
2022 |
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2021 |
| United States |
$ |
7,077 |
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$ |
29,186 |
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| Canada |
48 |
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122 |
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| Europe |
279 |
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671 |
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| Total long-lived assets |
$ |
7,404 |
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$ |
29,979 |
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