v3.22.1
Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The following table sets forth information by reportable segment for the years ended December 31, 2021 and 2020. There were no material intersegment sales during the years ended December 31, 2021 and 2020.
For the year ended December 31, 2021 For the year ended December 31, 2020
(in thousands) Consumer Goods Industrial Goods Total Consumer Goods Industrial Goods Total
Net sales $ 110,105  $ 55,955  $ 166,060  $ 122,186  $ 16,118  $ 138,304 
Cost of sales 92,804  45,577  138,381  101,981  13,558  115,539 
Gross profit $ 17,301  $ 10,378  $ 27,679  $ 20,205  $ 2,560  $ 22,765 
The following table sets forth specific asset categories which are reviewed by our CODM in the evaluation of operating segments:
As of December 31, 2021 As of December 31, 2020
(in thousands) Consumer Goods Industrial Goods Total Consumer Goods Industrial Goods Total
Accounts receivable, net $ 3,746  $ 10,944  $ 14,690  $ 5,951  $ 379  $ 6,330 
Inventories, net $ 32,142  $ 34,840  $ 66,982  $ 29,624  $ 6,440  $ 36,064 
Vendor deposits $ 9,675  $ 8,800  $ 18,475  $ 11,271  $ 18  $ 11,289 
The following table sets forth our net sales by major product category:
For the year ended December 31,
(in thousands) 2021 2020
Industrial Vape Products $ 27,845  $ — 
Packaging, Paper & Supplies 25,897  16,118 
Other Industrial Products 2,213  — 
Consumer Products - Greenlane Brands 34,966  29,939 
Consumer Products - 3rd Party Brands 75,139  92,247 
Total net sales $ 166,060  $ 138,304 
The following table sets forth net sales disaggregated by geography:
For the year ended December 31,
(in thousands) 2021 2020
United States $ 140,559  $ 109,660 
Canada 12,516  15,094 
Europe 11,133  10,833 
Other 1,852  2,717 
Total net sales $ 166,060  $ 138,304 
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:
As of December 31,
(in thousands) 2021 2020
United States $ 29,186  $ 14,308 
Canada 122  248 
Europe 671  750 
Total long-lived assets $ 29,979  $ 15,306