Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.21.2
Segment Reporting
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
We merchandise vaporizers and other products in the United States, Canada and Europe and we distribute to retailers through our wholesale operations and to consumers through e-commerce activities and 4 brick and mortar locations; with two in the United States, one in Spain and one in the Netherlands. We define our segments as those operations whose results our Chief Operating Decision Makers ("CODMs") regularly review to analyze performance and allocate resources. Therefore, segment information is prepared on the same basis that management reviews financial information for operational decision-making purposes.
The reportable segments identified are our business activities for which discrete financial information is available and for which operating results are regularly reviewed by our CODMs. As of June 30, 2021, we have three reportable segments: (1) United States, (2) Canada and (3) Europe. The United States operating segment is comprised of our United States operations, the Canadian operating segment is comprised of our Canadian operations, and the European operating segment is comprised of our European operations, currently based in the Netherlands. Corporate and other activities which are not allocated to our reportable segments consist primarily of equity-based compensation expenses and other corporate overhead items. We sell similar products and services in each of our segments.
The table below provides information on revenues from external customers, intersegment revenues, and income (loss) before income taxes for our reportable segments for the three and six months ended June 30, 2021 and 2020. We eliminate intersegment revenues in consolidation.
Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2021 2020 2021 2020
Revenue from external customers:
United States $ 30,694  $ 26,368  $ 59,361  $ 53,498 
Canada 1,412  3,510  3,973  7,915 
Europe 2,609  2,522  5,390  4,855 
Corporate and other —  —  —  — 
$ 34,715  $ 32,400  $ 68,724  $ 66,268 
Intercompany revenues:
United States $ 2,556  $ 3,163  $ 6,037  $ 5,407 
Canada 4  24  16  38 
Europe 619  708  1,451  1,092 
Corporate and other —  —  —  — 
$ 3,179  $ 3,895  $ 7,504  $ 6,537 
Income (loss) before income taxes:
United States $ (1,943) $ (2,288) $ (6,409) $ (16,595)
Canada (636) 30  (636) 305 
Europe 511  (673) (493) (1,134)
Corporate and other (3,768) (3,373) (6,030) (5,700)
$ (5,836) $ (6,304) $ (13,568) $ (23,124)