v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss attributable to common stockholders $ (14,484) $ (12,467)
Net income attributable to noncontrolling interests 28 37
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 8,109 7,910
Amortization of intangible assets 3,401 2,948
Stock-based compensation 1,860 1,050
Amortization of warrants issued as payment for services received 0 218
Amortization of debt discount 459 358
Amortization of debt issuance costs 73 73
Payment-in-kind interest 30 104
Bad debt expense (income) 1,582 (336)
Obligations settled with common stock 3 10
Loss on disposal of assets 834 13
Loss on changes in fair value of investments 0 145
Changes in operating assets and liabilities:    
Accounts receivable, net (429) (1,207)
Inventory (6) (8,182)
Deferred rents receivable 12 74
Other current assets 1,035 883
Other assets (2,606) 1,421
Accounts payable 841 4,188
Accrued expenses and other 3,162 1,754
Deferred revenue 65 303
Income taxes payable 3,726 7,488
Net cash provided by operating activities 7,695 6,785
Cash flows from investing activities:    
Purchases of property and equipment (1,167) (11,960)
Business acquisitions, net of cash acquired 231 (4,250)
Advances toward future business acquisitions (50) (100)
Purchases and renewals of cannabis licenses (465) (712)
Proceeds from notes receivable 26 50
Return on investment 0 44
Proceeds from disposal of assets 45 22
Due from third party 0 (227)
Net cash used in investing activities (1,380) (17,133)
Cash flows from financing activities:    
Proceeds from Construction to Permanent Commercial Real Estate Mortgage Loan 0 5,077
Proceeds from mortgages 2,000 1,163
Payment of third-party debt issuance costs in connection with debt (9) 0
Principal payments of mortgages (1,495) (382)
Repayment and retirement of mortgages (689) 0
Principal payments of promissory notes (3,066) (1,177)
Principal payments of finance leases (1,317) (1,557)
Distributions (137) (139)
Net cash (used in) provided by financing activities (4,713) 2,985
Net increase (decrease) to cash, cash equivalents and restricted cash 1,602 (7,363)
Cash, cash equivalents and restricted cash at beginning of year 7,282 14,645
Cash, cash equivalents and restricted cash at end of year 8,884 7,282
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,910 6,689
Cash (refunded) paid for income taxes, net (713) 705
Non-cash activities:    
Common stock issued to purchase property and equipment 0 396
Present value of promissory notes issued as purchase consideration 0 3,000
Entry into new finance leases 1,297 2,881
Write-off of finance leases 0 1,112
Common stock issued as purchase consideration 0 991
Notes payable issued to purchase property and equipment 447 0
Common stock issued under licensing agreement 0 10
Conversion of preferred stock to common stock 4,275 0
Return of common stock to the Company in connection with withholding taxes 83 41
Adjustment to purchase price allocation to reclassify certain acquired intangible assets to goodwill $ 0 $ 3,819

Source

10-K XBRL Zip