Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Nov. 30, 2023 | Jan. 05, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001731348 | |
Entity Registrant Name | Tilray Brands, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --05-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Nov. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38594 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 82-4310622 | |
Entity Address, Address Line One | 265 Talbot Street West | |
Entity Address, City or Town | Leamington | |
Entity Address, State or Province | ON | |
Entity Address, Postal Zip Code | N8H 5L4 | |
City Area Code | 844 | |
Local Phone Number | 845-7291 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | TLRY | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 742,725,148 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Current assets | ||
Cash and cash equivalents | $ 143,373 | $ 206,632 |
Restricted cash | 1,576 | 0 |
Marketable securities | 116,418 | 241,897 |
Accounts receivable, net | 90,596 | 86,227 |
Inventory | 252,702 | 200,551 |
Prepaids and other current assets | 36,626 | 37,722 |
Assets held for sale | 736 | 0 |
Total current assets | 642,027 | 773,029 |
Capital assets | 615,087 | 429,667 |
Operating lease, right-of-use assets | 13,551 | 5,941 |
Intangible assets | 953,419 | 973,785 |
Goodwill | 2,009,714 | 2,008,843 |
Interest in equity investees | 4,638 | 4,576 |
Long-term investments | 8,034 | 7,795 |
Convertible notes receivable | 74,681 | 103,401 |
Other assets | 9,406 | 222 |
Total assets | 4,330,557 | 4,307,259 |
Current liabilities | ||
Bank indebtedness | 20,181 | 23,381 |
Accounts payable and accrued liabilities | 216,898 | 190,682 |
Contingent consideration | 7,704 | 16,218 |
Warrant liability | 3,768 | 1,817 |
Current portion of lease liabilities | 5,043 | 2,423 |
Current portion of long-term debt | 12,993 | 24,080 |
Convertible Debt, Current | 128,399 | 174,378 |
Total current liabilities | 394,986 | 432,979 |
Long - term liabilities | ||
Contingent consideration | 13,000 | 10,889 |
Lease liabilities | 69,974 | 7,936 |
Long-term debt | 169,099 | 136,889 |
Convertible debentures payable | 123,691 | 221,044 |
Deferred tax liabilities | 166,454 | 167,364 |
Other liabilities | 0 | 215 |
Total liabilities | 937,204 | 977,316 |
Commitments and contingencies (refer to Note 19) | ||
Stockholders' equity | ||
Common stock ($0.0001 par value; 1,198,000,000 common shares authorized; 732,907,552 and 656,655,455 common shares issued and outstanding, respectively) | 73 | 66 |
Preferred shares ($0.0001 par value; 10,000,000 preferred shares authorized; nil and nil preferred shares issued and outstanding, respectively) | 0 | 0 |
Additional paid-in capital | 5,942,671 | 5,777,743 |
Accumulated other comprehensive loss | (38,367) | (46,610) |
Accumulated Deficit | (2,536,040) | (2,415,507) |
Total Tilray Brands, Inc. stockholders' equity | 3,368,337 | 3,315,692 |
Non-controlling interests | 25,016 | 14,251 |
Total stockholders' equity | 3,393,353 | 3,329,943 |
Total liabilities and stockholders' equity | $ 4,330,557 | $ 4,307,259 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Current Period Unaudited) (Parentheticals) - $ / shares | Nov. 30, 2023 | May 31, 2023 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 1,198,000,000 | 1,198,000,000 |
Common stock, shares issued (in shares) | 732,907,552 | 656,655,455 |
Common stock, shares outstanding (in shares) | 732,907,552 | 656,655,455 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Net revenue | $ 193,771 | $ 144,136 | $ 370,720 | $ 297,347 |
Cost of goods sold | 146,362 | 101,254 | 279,115 | 205,851 |
Gross profit | 47,409 | 42,882 | 91,605 | 91,496 |
Operating expenses: | ||||
General and administrative | 43,313 | 37,878 | 83,829 | 78,386 |
Selling | 7,583 | 9,669 | 14,442 | 19,340 |
Amortization | 21,917 | 23,995 | 44,142 | 48,354 |
Marketing and promotion | 9,208 | 8,535 | 17,743 | 15,783 |
Research and development | 56 | 165 | 135 | 331 |
Change in fair value of contingent consideration | 300 | 0 | (10,807) | 211 |
Litigation costs, net of recoveries | 3,042 | 2,815 | 5,076 | 3,260 |
Restructuring costs | 2,655 | 8,064 | 3,570 | 8,064 |
Transaction (income) costs | 1,094 | 3,552 | 9,596 | (9,264) |
Total operating expenses | 89,168 | 94,673 | 167,726 | 164,465 |
Operating loss | (41,759) | (51,791) | (76,121) | (72,969) |
Interest expense, net | (8,625) | (3,107) | (18,460) | (7,520) |
Non-operating income (expense), net | 821 | (18,450) | (3,581) | (51,442) |
Loss before income taxes | (49,563) | (73,348) | (98,162) | (131,931) |
Income tax (recovery) expense | (3,380) | (11,713) | 3,884 | (4,502) |
Net loss | (46,183) | (61,635) | (102,046) | (127,429) |
Total net income (loss) attributable to: | ||||
Stockholders of Tilray Brands, Inc. | (49,008) | (69,463) | (120,533) | (142,945) |
Non-controlling interests | 2,825 | 7,828 | 18,487 | 15,516 |
Other comprehensive gain (loss), net of tax | ||||
Foreign currency translation gain (loss) | 5,203 | (24,597) | 8,412 | (84,889) |
Unrealized gain (loss) on convertible notes receivable | 0 | (17,643) | 0 | (20,168) |
Total other comprehensive loss, net of tax | 5,203 | (42,240) | 8,412 | (105,057) |
Comprehensive loss | (40,980) | (103,875) | (93,634) | (232,486) |
Total comprehensive income (loss) attributable to: | ||||
Stockholders of Tilray Brands, Inc. | (43,814) | (111,186) | (112,290) | (243,636) |
Non-controlling interests | $ 2,834 | $ 7,311 | $ 18,656 | $ 11,150 |
Weighted average number of common shares - basic (in shares) | 730,769,132 | 611,711,377 | 710,877,859 | 589,112,358 |
Weighted average number of common shares - diluted (in shares) | 730,769,132 | 611,711,377 | 710,877,859 | 589,112,358 |
Net loss per share - basic (in dollars per share) | $ (0.07) | $ (0.11) | $ (0.17) | $ (0.24) |
Net loss per share - diluted (in dollars per share) | $ (0.07) | $ (0.11) | $ (0.17) | $ (0.24) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | HT Investments MA LLC Note [Member] Common Stock and Preferred Stock [Member] | HT Investments MA LLC Note [Member] Additional Paid-in Capital [Member] | HT Investments MA LLC Note [Member] AOCI Attributable to Parent [Member] | HT Investments MA LLC Note [Member] Retained Earnings [Member] | HT Investments MA LLC Note [Member] Noncontrolling Interest [Member] | HT Investments MA LLC Note [Member] | TLRY 27 [Member] Common Stock and Preferred Stock [Member] | TLRY 27 [Member] Additional Paid-in Capital [Member] | TLRY 27 [Member] AOCI Attributable to Parent [Member] | TLRY 27 [Member] Retained Earnings [Member] | TLRY 27 [Member] Noncontrolling Interest [Member] | TLRY 27 [Member] | Acquisition of Montauk Brewing Company, Inc. [Member] Common Stock and Preferred Stock [Member] | Acquisition of Montauk Brewing Company, Inc. [Member] Additional Paid-in Capital [Member] | Acquisition of Montauk Brewing Company, Inc. [Member] AOCI Attributable to Parent [Member] | Acquisition of Montauk Brewing Company, Inc. [Member] Retained Earnings [Member] | Acquisition of Montauk Brewing Company, Inc. [Member] Noncontrolling Interest [Member] | Acquisition of Montauk Brewing Company, Inc. [Member] | HEXO Acquisition [Member] Common Stock and Preferred Stock [Member] | HEXO Acquisition [Member] Additional Paid-in Capital [Member] | HEXO Acquisition [Member] AOCI Attributable to Parent [Member] | HEXO Acquisition [Member] Retained Earnings [Member] | HEXO Acquisition [Member] Noncontrolling Interest [Member] | HEXO Acquisition [Member] | Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] Common Stock and Preferred Stock [Member] | Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] Additional Paid-in Capital [Member] | Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] AOCI Attributable to Parent [Member] | Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] Retained Earnings [Member] | Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] Noncontrolling Interest [Member] | Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | Common Stock and Preferred Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at May. 31, 2022 | 532,674,887 | |||||||||||||||||||||||||||||||||||
Balance at May. 31, 2022 | $ 53 | $ 5,382,367 | $ (20,764) | $ (962,851) | $ 42,561 | $ 4,441,366 | ||||||||||||||||||||||||||||||
Share issuance - equity financing (in shares) | 32,481,149 | |||||||||||||||||||||||||||||||||||
Share issuance - equity financing | $ 3 | 129,590 | 0 | 0 | 0 | 129,593 | ||||||||||||||||||||||||||||||
Shares issued to purchase HEXO convertible note receivable (in shares) | 33,314,412 | |||||||||||||||||||||||||||||||||||
Shares issued to purchase HEXO convertible note receivable | $ 3 | 107,269 | 0 | 0 | 0 | 107,272 | ||||||||||||||||||||||||||||||
HTI Convertible Note - conversion feature | $ 0 | $ 9,055 | $ 0 | $ 0 | $ 0 | $ 9,055 | ||||||||||||||||||||||||||||||
Share issuance - Double Diamond Holdings dividend settlement (in shares) | 1,529,821 | |||||||||||||||||||||||||||||||||||
Share issuance - Double Diamond Holdings dividend settlement | $ 1 | 5,063 | 0 | 0 | 0 | 5,064 | ||||||||||||||||||||||||||||||
Share issuance - options exercised (in shares) | 3,777 | |||||||||||||||||||||||||||||||||||
Share issuance - options exercised | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Share issuance - RSUs exercised (in shares) | 950,893 | |||||||||||||||||||||||||||||||||||
Share issuance - RSUs exercised | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Shares effectively repurchased for employee withholding tax | 0 | (1,189) | 0 | 0 | 0 | (1,189) | ||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 9,193 | 0 | 0 | 0 | 9,193 | ||||||||||||||||||||||||||||||
Dividends declared to non-controlling interests | 0 | 0 | 0 | 0 | (8,561) | (8,561) | ||||||||||||||||||||||||||||||
Net comprehensive (loss) income | $ 0 | 0 | (58,968) | (73,482) | 3,839 | (128,611) | ||||||||||||||||||||||||||||||
Share issuance - Settlement of equity component of TLRY 23 convertible note | $ 0 | $ (9,055) | $ 0 | $ 0 | $ 0 | $ (9,055) | ||||||||||||||||||||||||||||||
Balance (in shares) at Aug. 31, 2022 | 600,954,939 | |||||||||||||||||||||||||||||||||||
Balance at Aug. 31, 2022 | $ 60 | 5,641,348 | (79,732) | (1,036,333) | 37,839 | 4,563,182 | ||||||||||||||||||||||||||||||
Balance (in shares) at May. 31, 2022 | 532,674,887 | |||||||||||||||||||||||||||||||||||
Balance at May. 31, 2022 | $ 53 | 5,382,367 | (20,764) | (962,851) | 42,561 | 4,441,366 | ||||||||||||||||||||||||||||||
Net comprehensive (loss) income | (232,486) | |||||||||||||||||||||||||||||||||||
Balance (in shares) at Nov. 30, 2022 | 613,181,559 | |||||||||||||||||||||||||||||||||||
Balance at Nov. 30, 2022 | $ 61 | 5,697,466 | (121,455) | (1,105,796) | 12,870 | 4,483,146 | ||||||||||||||||||||||||||||||
Balance (in shares) at Aug. 31, 2022 | 600,954,939 | |||||||||||||||||||||||||||||||||||
Balance at Aug. 31, 2022 | $ 60 | 5,641,348 | (79,732) | (1,036,333) | 37,839 | 4,563,182 | ||||||||||||||||||||||||||||||
Share issuance - Double Diamond Holdings dividend settlement (in shares) | 10,276,305 | |||||||||||||||||||||||||||||||||||
Share issuance - Double Diamond Holdings dividend settlement | $ 1 | 38,753 | 0 | 0 | (32,280) | 6,474 | ||||||||||||||||||||||||||||||
Share issuance - options exercised (in shares) | 4,183 | |||||||||||||||||||||||||||||||||||
Share issuance - options exercised | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Share issuance - RSUs exercised (in shares) | 237,611 | |||||||||||||||||||||||||||||||||||
Share issuance - RSUs exercised | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 10,943 | 0 | 0 | 0 | 10,943 | ||||||||||||||||||||||||||||||
Net comprehensive (loss) income | $ 0 | 0 | (41,723) | (69,463) | 7,311 | (103,875) | ||||||||||||||||||||||||||||||
Shares issuance (in shares) | 1,708,521 | |||||||||||||||||||||||||||||||||||
Shares issuance | $ 0 | $ 6,422 | $ 0 | $ 0 | $ 0 | $ 6,422 | ||||||||||||||||||||||||||||||
Balance (in shares) at Nov. 30, 2022 | 613,181,559 | |||||||||||||||||||||||||||||||||||
Balance at Nov. 30, 2022 | $ 61 | 5,697,466 | (121,455) | (1,105,796) | 12,870 | 4,483,146 | ||||||||||||||||||||||||||||||
Balance (in shares) at May. 31, 2023 | 656,655,455 | |||||||||||||||||||||||||||||||||||
Balance at May. 31, 2023 | $ 66 | 5,777,743 | (46,610) | (2,415,507) | 14,251 | 3,329,943 | ||||||||||||||||||||||||||||||
Share issuance - Double Diamond Holdings dividend settlement (in shares) | 5,004,735 | |||||||||||||||||||||||||||||||||||
Share issuance - Double Diamond Holdings dividend settlement | $ 0 | 8,146 | 0 | 0 | 0 | 8,146 | ||||||||||||||||||||||||||||||
Share issuance - RSUs exercised (in shares) | 3,912,481 | |||||||||||||||||||||||||||||||||||
Share issuance - RSUs exercised | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Shares effectively repurchased for employee withholding tax | 0 | (4,860) | 0 | 0 | 0 | (4,860) | ||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 8,257 | 0 | 0 | 0 | 8,257 | ||||||||||||||||||||||||||||||
Dividends declared to non-controlling interests | 0 | 0 | 0 | 0 | (7,891) | (7,891) | ||||||||||||||||||||||||||||||
Net comprehensive (loss) income | $ 0 | 0 | 3,049 | (71,525) | 15,822 | (52,654) | ||||||||||||||||||||||||||||||
Shares issuance (in shares) | 39,705,962 | |||||||||||||||||||||||||||||||||||
Shares issuance | $ 4 | $ 65,158 | $ 0 | $ 0 | $ 0 | $ 65,162 | ||||||||||||||||||||||||||||||
Share issuance - acquisition settlement (in shares) | 865,426 | |||||||||||||||||||||||||||||||||||
Share issuance - acquisition settlement | $ 0 | $ 3,953 | $ 0 | $ 0 | $ 0 | $ 3,953 | $ 0 | 1,500 | 0 | 0 | 0 | 1,500 | ||||||||||||||||||||||||
Share issuance (in shares) | 17,148,541 | |||||||||||||||||||||||||||||||||||
Share issuance - HTI convertible note | $ 2 | 49,998 | 50,000 | |||||||||||||||||||||||||||||||||
Share issuance - HTI convertible note (in shares) | 17,148,541 | |||||||||||||||||||||||||||||||||||
Balance (in shares) at Aug. 31, 2023 | 723,292,600 | |||||||||||||||||||||||||||||||||||
Balance at Aug. 31, 2023 | $ 72 | 5,909,895 | (43,561) | (2,487,032) | 22,182 | 3,401,556 | ||||||||||||||||||||||||||||||
Balance (in shares) at May. 31, 2023 | 656,655,455 | |||||||||||||||||||||||||||||||||||
Balance at May. 31, 2023 | $ 66 | 5,777,743 | (46,610) | (2,415,507) | 14,251 | 3,329,943 | ||||||||||||||||||||||||||||||
Net comprehensive (loss) income | (93,634) | |||||||||||||||||||||||||||||||||||
Balance (in shares) at Nov. 30, 2023 | 732,907,552 | |||||||||||||||||||||||||||||||||||
Balance at Nov. 30, 2023 | $ 73 | 5,942,671 | (38,367) | (2,536,040) | 25,016 | 3,393,353 | ||||||||||||||||||||||||||||||
Balance (in shares) at Aug. 31, 2023 | 723,292,600 | |||||||||||||||||||||||||||||||||||
Balance at Aug. 31, 2023 | $ 72 | 5,909,895 | (43,561) | (2,487,032) | 22,182 | 3,401,556 | ||||||||||||||||||||||||||||||
HTI Convertible Note - conversion feature | $ 0 | 1,672 | 0 | 0 | 0 | 1,672 | ||||||||||||||||||||||||||||||
Share issuance - RSUs exercised (in shares) | 9,184 | |||||||||||||||||||||||||||||||||||
Share issuance - RSUs exercised | $ 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 8,201 | 0 | 0 | 0 | 8,201 | ||||||||||||||||||||||||||||||
Net comprehensive (loss) income | $ 0 | 0 | 5,194 | (49,008) | 2,834 | (40,980) | ||||||||||||||||||||||||||||||
Share issuance (in shares) | 1,032,616 | |||||||||||||||||||||||||||||||||||
Share issuance - HTI convertible note | $ 0 | 2,313 | 0 | 0 | 0 | 2,313 | ||||||||||||||||||||||||||||||
Share issuance - HTI convertible note (in shares) | 1,032,616 | |||||||||||||||||||||||||||||||||||
Share issuance - Settlement of litigation claims from MediPharm Labs Inc (in shares) | 1,573,152 | |||||||||||||||||||||||||||||||||||
Share issuance - Settlement of litigation claims from MediPharm Labs Inc | $ 0 | $ 3,477 | $ 0 | $ 0 | $ 0 | $ 3,477 | ||||||||||||||||||||||||||||||
Share issuance - Repurchase of TLRY 23 convertible note (in shares) | 7,000,000 | |||||||||||||||||||||||||||||||||||
Share issuance - Repurchase of TLRY 23 convertible note | $ 1 | 20,457 | 0 | 0 | 0 | 20,458 | ||||||||||||||||||||||||||||||
Share issuance - Settlement of equity component of TLRY 23 convertible note | $ 0 | (1,672) | 0 | 0 | 0 | (1,672) | ||||||||||||||||||||||||||||||
Balance (in shares) at Nov. 30, 2023 | 732,907,552 | |||||||||||||||||||||||||||||||||||
Balance at Nov. 30, 2023 | $ 73 | $ 5,942,671 | $ (38,367) | $ (2,536,040) | $ 25,016 | $ 3,393,353 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | May 31, 2023 | |
Cash used in operating activities: | |||||
Net (loss) income | $ (46,183) | $ (61,635) | $ (102,046) | $ (127,429) | |
Adjustments for: | |||||
Deferred income tax recovery | (4,042) | (12,941) | |||
Unrealized foreign exchange (gain) loss | (5,604) | 2,261 | |||
Amortization | 62,341 | 67,387 | |||
Loss (gain) on sale of capital assets | (23) | (64) | (20) | 13 | |
Other non-cash items | (2,623) | 10,372 | |||
Stock-based compensation | 16,458 | 20,136 | |||
(Gain) loss on long-term investments & equity investments | (412) | 1,918 | |||
Loss on derivative instruments | 7,992 | 18,997 | |||
Change in fair value of contingent consideration | 300 | 0 | (10,807) | 211 | |
Change in non-cash working capital: | |||||
Accounts receivable | 4,524 | 6,690 | |||
Prepaids and other current assets | 3,764 | (7,780) | |||
Inventory | 8,669 | 5,046 | |||
Accounts payable and accrued liabilities | (24,445) | (1,941) | |||
Net cash used in operating activities | (46,251) | (17,060) | |||
Cash provided by (used in) investing activities: | |||||
Investment in capital and intangible assets, net | (10,011) | (7,537) | |||
Proceeds from disposal of capital and intangible assets | 365 | 2,160 | |||
Disposal (purchase) of marketable securities, net | 125,479 | (243,186) | |||
Business acquisitions, net of cash acquired | (60,626) | (24,372) | |||
Net cash provided by (used in) investing activities | 55,207 | (272,935) | |||
Cash provided by (used in) financing activities: | |||||
Share capital issued, net of cash issuance costs | 0 | 129,593 | |||
Shares effectively repurchased for employee withholding tax | 0 | (1,189) | |||
Proceeds from long-term debt | 32,621 | 1,288 | |||
Repayment of long-term debt | (14,901) | (10,420) | |||
Proceeds from convertible debt | 21,553 | 0 | |||
Repayment of convertible debt | (107,330) | (48,975) | |||
Repayment of lease liabilities | (91) | (1,114) | |||
Net decrease in bank indebtedness | (3,200) | (2,819) | |||
Net cash provided by (used in) financing activities | (71,348) | 66,364 | |||
Effect of foreign exchange on cash and cash equivalents | 709 | (2,060) | |||
Net decrease in cash and cash equivalents | (61,683) | (225,691) | |||
Cash and cash equivalents, beginning of period | 206,632 | 415,909 | $ 415,909 | ||
Cash and cash equivalents, end of period | $ 144,949 | $ 190,218 | $ 144,949 | $ 190,218 | $ 206,632 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | Included in the statement of cash flows cash and cash equivalents is $1,576 of restricted cash as of November 30, 2023 $nil May 31, 2023. |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1. The accompanying unaudited condensed interim consolidated financial statements (the “financial statements”) reflect the accounts of the Company for the quarterly period ended November 30, 2023 not 10 May 31, 2023 not These condensed interim consolidated financial statements have been prepared on the going concern basis which assumes that the Company will continue in operation for the foreseeable future and, accordingly, will be able to realize its assets and discharge its liabilities in the normal course of operations as they come due, under the historical cost convention except for certain financial instruments that are measured at fair value, as detailed in the Company’s accounting policies. All amounts in the unaudited condensed interim consolidated financial statements, notes and tables have been rounded to the nearest thousand, except par values and per share amounts, unless otherwise indicated. Certain items of the comparative figures have been changed to conform to the presentation adopted in the current period. Basis of consolidation Subsidiaries are entities controlled by the Company. Control exists when the Company either has a controlling voting interest or is the primary beneficiary of a variable interest entity. The financial statements of subsidiaries are included in the condensed interim consolidated financial statements from the date that control commences until the date that control ceases. A complete list of our subsidiaries that existed prior to our most recent year end is included in the Annual Report, except for the entities acquired within Note 7 November 30, 2023 Marketable securities We classify term deposits and other investments that have maturities of greater than three one Restricted cash We classify cash that is legally or contractually restricted as to withdrawal or usage, as restricted cash. As of November 30, 2023 7 Assets held for sale We classify capital assets that are available and which are probable for immediate sale in their present condition, which the Company has approved the action or plan to sell, as assets held for sale. As of November 30, 2023 7 When there are changes in circumstances that were previously considered unlikely to occur, and it is decided not not Long-term investments Investments in equity securities of entities over which the Company does not Investments in entities over which the Company does not may not 820 Convertible notes receivable Convertible notes receivable include various investments in which the Company has the right, or potential right to convert the indenture into common stock of the investee and are classified as available-for-sale and are recorded at fair value. Unrealized gains and losses during the year, net of the related tax effect, are excluded from income and reflected in other comprehensive income (loss), and the cumulative effect is reported as a separate component of shareholders' equity until realized. We use judgement to assess convertible notes receivables for impairment at each measurement date. Convertible notes receivables are impaired when a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded in the statements of loss and comprehensive loss and a new cost basis for the investment is established. We also evaluate whether there is a plan to sell the security, or it is more likely than not Revenue Revenue is recognized when the control of the promised goods or services, through performance obligation, is transferred/provided to the customer in an amount that reflects the consideration we expect to be entitled to in exchange for the performance obligations. Excise taxes remitted to tax authorities are government-imposed excise taxes on cannabis and beer. Excise taxes are recorded as a reduction of sales in net revenue in the consolidated statements of operations and recognized as a current liability within accounts payable and accrued liabilities on the consolidated balance sheets, with the liability subsequently reduced when the taxes are remitted to the tax authority. In addition, amounts disclosed as net revenue are net of excise taxes, sales tax, duty tax, allowances, discounts and rebates. In determining the transaction price for the sale of goods or services, the Company considers the effects of variable consideration and the existence of significant financing components, if any. We may may may On July 12, 2022, 26 June 22, 2023, 7 Transaction (income) costs The Company expenses costs net of any gains directly attributable to business acquisitions and classifies these items as transaction (income) costs. These items include among other things, legal fees to complete the acquisition, financial advisor and due diligence costs, and transaction related compensation. These items are recognized as incurred. Earnings (loss) per share Basic earnings (loss) per share is computed by dividing reported net income (loss) attributable to stockholders of Tilray Brands, Inc. by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share is computed by dividing reported net income (loss) attributable to stockholders of Tilray Brands, Inc. by the sum of the weighted average number of common shares and the number of dilutive potential common share equivalents outstanding during the period. Potential dilutive common share equivalents consist of the incremental common shares issuable upon the exercise of vested share options, warrants, and RSUs and the incremental shares issuable upon conversion of the convertible debentures and similar instruments. Shares of common stock outstanding under the share lending arrangement entered into in conjunction with the TLRY 27 13 In computing diluted earnings (loss) per share, common share equivalents are not three November 30, 2023 November 30, 2022, New accounting pronouncements not In August 2023, 2023 05, Business Combination - Joint Venture Formations 805 60 2023 05” 2023 05 June 1, 2026. In October 2023, 2023 06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, X June 30, 2027, not X not In November 2023, 2023 07, Segment Reporting (Topic 280 2023 07 May 31, 2025. In December 2023, 2023 09, Income Taxes (Topic 740 2023 09 June 01, 2024. New accounting pronouncements recently adopted In October 2021, 2021 08, Business Combinations (Subtopic 805 2021 08” 2021 08 June 1, 2023, not |
Note 2 - Inventory
Note 2 - Inventory | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 2. Inventory consisted of the following: November 30, May 31, 2023 2023 Plants $ 14,908 $ 10,884 Dried cannabis 107,805 89,801 Cannabis trim - 322 Cannabis derivatives 4,814 9,229 Cannabis vapes 7,076 1,173 Packaging and other inventory items 17,924 19,997 Wellness inventory 11,395 11,164 Beverage alcohol inventory 52,371 27,837 Distribution inventory 36,409 30,144 Total $ 252,702 $ 200,551 |
Note 3 - Capital Assets
Note 3 - Capital Assets | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3. Capital assets consisted of the following: November 30, May 31, 2023 2023 Land $ 46,385 $ 30,635 Production facility 344,593 344,627 Equipment 319,749 185,422 Leasehold improvement 8,147 7,753 Finance lease, right-of-use assets 57,056 — Construction in progress 12,794 8,048 $ 788,724 $ 576,485 Less: accumulated amortization (173,637 ) (146,818 ) Total $ 615,087 $ 429,667 |
Note 4 - Leases
Note 4 - Leases | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Leases Disclosure [Text Block] | Note 4. The table below presents the lease-related assets and liabilities recorded on the balance sheet. November 30, May 31, Classification on Balance Sheet 2023 2023 Assets Finance lease, right-of-use assets Capital assets $ 57,056 $ — Operating lease, right-of-use assets Right of use assets 13,551 5,941 Total right-of-use asset $ 70,607 $ 5,941 Liabilities Current: Current portion of finance lease liabilities Accrued lease obligations - current $ 1,336 $ — Current portion of operating lease liabilities Accrued lease obligations - current 3,707 2,423 Non-current: Finance lease liabilities Accrued lease obligations - non-current 56,010 — Operating lease liabilities Accrued lease obligations - non-current 13,964 7,936 Total lease liabilities $ 75,017 $ 10,359 The following table presents the future undiscounted payment associated with lease liabilities as of November 30, 2023 Operating Finance leases leases 2024 $ 4,106 $ 4,622 2025 3,295 4,699 2026 3,486 4,782 2027 3,412 4,542 Thereafter 4,012 87,903 Total minimum lease payments $ 18,311 $ 106,548 Imputed interest (640 ) (49,202 ) Obligations recognized $ 17,671 $ 57,346 |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 5. Intangible assets consisted of the following items: November 30, May 31, 2023 2023 Customer relationships & distribution channel $ 620,876 $ 614,062 Licenses, permits & applications 370,753 366,793 Non-compete agreements 12,441 12,394 Intellectual property, trademarks, knowhow & brands 594,948 583,468 1,599,018 $ 1,576,717 Less: accumulated amortization (229,755 ) (187,088 ) Less: impairments (415,844 ) (415,844 ) Total $ 953,419 $ 973,785 Included in licenses, permits & applications was $184,858 of indefinite-lived intangible assets as of November 30, 2023 May 31, 2023 Expected future amortization expense for intangible assets as of November 30, 2023 Amortization 2024 (remaining six months) $ 36,861 2025 73,722 2026 73,722 2027 73,722 2028 73,722 Thereafter 436,812 Total $ 768,561 |
Note 6 - Goodwill
Note 6 - Goodwill | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | Note 6. The following table shows the carrying amount of goodwill by reporting units: November 30, May 31, Reporting Unit 2023 2023 Cannabis $ 2,640,669 $ 2,640,669 Distribution 4,458 4,458 Beverage alcohol 120,802 120,802 Wellness 77,470 77,470 Effect of foreign exchange 8,746 7,875 Impairments (842,431 ) (842,431 ) Total $ 2,009,714 $ 2,008,843 |
Note 7 - Business Acquisitions
Note 7 - Business Acquisitions | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 7. Business a cquisitions Acquisition of Montauk Brewing Company, Inc. On November 7, 2022, December 31, 2025, 25 The table below summarizes fair value of the assets acquired and the liabilities assumed at the effective acquisition date. Amount Consideration Cash $ 28,701 Shares 6,422 Contingent consideration 10,245 Net assets acquired Current assets Cash and cash equivalents 1,983 Accounts receivable 1,116 Prepaids and other current assets 467 Inventory 1,570 Long-term assets Capital assets 420 Customer relationships ( 15 18,540 Intellectual property, trademarks & brands ( 15 13,650 Goodwill 17,803 Total assets 55,549 Current liabilities Accounts payable and accrued liabilities 1,580 Long-term liabilities Deferred tax liability 4,851 Other liabilities 3,750 Total liabilities 10,181 Total net assets acquired $ 45,368 In the event that the Montauk acquisition had occurred on June 1, 2022, three six November 30, 2022 three six November 30, 2022, not Acquisition of HEXO Corp. On June 22, 2023, The Company is in the process of assessing the fair value of the net assets acquired and, as a result, the fair value may Amount Consideration Shares $ 63,927 Settlement of convertible notes receivable 28,720 Warrants assumed 47 Estimated fair value of HEXO stock-based compensation 1,188 Net assets acquired Current assets Cash and cash equivalents 14,634 Restricted cash 1,656 Accounts receivable 7,855 Asset held for sale 755 Prepaids and other current assets 2,709 Inventory 25,947 Long-term assets Prepaid expenses 8,384 Capital assets 70,634 Intellectual property, trademarks & brands ( 15 2,680 Interest in equity investee 3,145 Total assets 138,399 Current liabilities Accounts payable and accrued liabilities 44,517 Total liabilities 44,517 Total net assets acquired $ 93,882 Included in accounts payable and accrued liabilities was $12,253 of litigation settlement accruals as of June 22, 2023. In the event the HEXO Acquisition had occurred on June 1, 2022, $nil three six November 30, 2023 three six November 30, 2022, $nil three six November 30, 2023, three six November 30, 2022, not Acquisition of Truss Beverage Co. On August 3, 2023, not CAD$100 57.5% November 30, 2023, not The Company is in the process of assessing the fair value of the net assets acquired and, as a result, the fair value of the net assets acquired may Amount Consideration Cash consideration $ 74 Investment in equity investees 3,145 Contingent consideration 4,181 Net assets acquired Current assets Cash and cash equivalents 6,739 Accounts receivable 1,038 Prepaids and other current assets 78 Inventory 2,573 Asset held for sale 2,960 Long-term assets Intangible assets 296 Total assets 13,684 Current liabilities Accounts payable and accrued liabilities 5,408 Other liabilities 876 Total liabilities 6,284 Total net assets acquired 7,400 In the event that the Truss acquisition had occurred on June 1, 2022 $nil three six November 30, 2023 three six November 30, 2022, $nil three six November 30, 2023, three six November 30, 2022, not Acquisition of Craft Beverage Business Portfolio On September 29, 2023, eight 10 12 , 420 The Company is in the process of assessing the fair value of the net assets acquired and, as a result, the fair value may Amount Consideration Cash consideration $ 83,658 Net assets acquired Current assets Cash and cash equivalents 77 Inventory 22,493 Prepaids and other current assets 573 Long-term assets Capital assets 62,614 Finance lease, right-of-use assets 45,496 Operating lease, right-of-use assets 7,677 Other assets 108 Total assets 139,038 Current liabilities Accounts payable and accrued liabilities 2,206 Current portion of finance lease liabilities 1,031 Current portion of operating lease liabilities 1,408 Long - term liabilities Finance lease liabilities 44,465 Operating lease liabilities 6,270 Total liabilities 55,380 Total net assets acquired 83,658 In the event that the Craft Acquisition had occurred on June 1, 2022, three six November 30, 2023 three six November 30, 2022, three six November 30, 2023, three six November 30, 2022, not |
Note 8 - Convertible Notes Rece
Note 8 - Convertible Notes Receivable | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 8. Convertible notes receivable is comprised of the following: November 30, May 31, 2023 2023 HEXO Convertible Note $ - $ 28,720 MedMen Convertible Note 74,681 74,681 Total convertible notes receivable 74,681 103,401 Deduct - current portion - - Total convertible notes receivable, non current portion $ 74,681 $ 103,401 HEXO Convertible Note On June 22, 2023, 7 MedMen Convertible Note On August 31, 2021, August 17, 2028, The MedMen Convertible Note was based upon the fair value of the collateral assets net of disposal costs. In the prior year, the Company used the Black-Scholes model using the following assumptions: the risk-free rate of 3.50%; nil; nil; 60%; The Company did not not three six November 30, 2023 |
Note 9 - Long-term Investments
Note 9 - Long-term Investments | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Investment [Text Block] | Note 9. Long term investments consisted of the following: November 30, May 31, 2023 2023 Equity investments measured at fair value $ 2,534 $ 2,144 Equity investments under measurement alternative 5,500 5,651 Total $ 8,034 $ 7,795 |
Note 10 - Bank Indebtedness
Note 10 - Bank Indebtedness | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | Note 10. Aphria Inc., a subsidiary of the Company, has an operating line of credit in the amount of C$1,000, November 30, 2023 not 265 CC Pharma GmbH, a subsidiary of the Company, has two €7,000 €500 November 30, 2023 €7,438 €7,500. €7,000 €500 Four Twenty Corporation ( “420” November 30, 2023 420's |
Note 11 - Accounts Payable and
Note 11 - Accounts Payable and Accrued Liabilities | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 11. Accounts payable and accrued liabilities are comprised of: November 30, May 31, 2023 2023 Trade payables $ 88,363 $ 70,819 Accrued liabilities 75,851 48,394 Litigation expense accrual 25,338 25,000 Accrued payroll and employment related taxes 11,382 18,772 Income taxes payable 3,248 14,934 Accrued interest 8,147 8,102 Sales taxes payable 4,569 4,661 Total $ 216,898 $ 190,682 |
Note 12 - Long-term Debt
Note 12 - Long-term Debt | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 12. The following table sets forth the net carrying amount of long-term debt instruments: November 30, May 31, 2023 2023 Credit facility - C$ 66,000 3 10 November 2025 $ 42,920 $ 45,260 Term loan - C$ 25,000 1.00 5 15 181 July 2033 10,726 10,959 Term loan - C$ 25,000 1.00 5 15 196 July 2033 12,937 13,092 Term loan - C$ 1,250 1.50 5 10 12 August 2026 309 346 Mortgage payable - C$ 3,750 1.50 5 20 23 August 2026 2,125 2,104 Term loan ‐ € 5,000 2.15 5 250 December 2023 112 803 Term loan ‐ € 1,200 4.26 1 100 December 2023 275 755 Term loan ‐ € 1,500 2.00 5 94 April 2025 634 819 Term loan ‐ € 3,500 4.59 5 52 August 2028 3,563 1,706 Mortgage payable - $ 22,635 1.5 10 57 October 2030 20,512 20,863 Term loan - $ 90,000 5 875 1,750 June 2028 89,125 65,000 Carrying amount of long-term debt 183,238 161,707 Unamortized financing fees (1,146 ) (738 ) Net carrying amount 182,092 160,969 Less principal portion included in current liabilities (12,993 ) (24,080 ) Total noncurrent portion of long-term debt $ 169,099 $ 136,889 During the quarter ended August 31, 2023, "420" June 30, 2028 "420 "420 420 "420 420 June 30, 2023. 420 September 29, 2023 7 Business cquisitions 420 As of November 30, 2023 420 not 420 January 5, 2024. |
Note 13 - Convertible Debenture
Note 13 - Convertible Debentures Payable | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Convertible Debentures [Text Block] | Note 13. The following table sets forth the net carrying amount of the convertible debentures payable: November 30, May 31, 2023 2023 5.20 $ 123,691 $ 100,476 HTI Convertible Note - 47,834 5.25 128,399 120,568 5.00 - 126,544 Total 252,090 395,422 Deduct - current portion 128,399 174,378 Total convertible debentures payable, non current portion $ 123,691 $ 221,044 TLRY 27 November 30, May 31, 2023 2023 5.20 $ 172,500 $ 150,000 Unamortized discount (48,809 ) (49,524 ) Net carrying amount $ 123,691 $ 100,476 The TLRY 27 May 30, 2023 June 9, 2023 27 27 June 15 December 15 June 15, 2027, 27 not 23 24, 27 second June 15, 2027. 27 The TLRY 27 not June 20, 2025 may 27 27 may 27 27 not During the three six November 30, 2023 no HTI Convertible Note November 30, May 31, 2023 2023 4.00 $ — $ 50,000 Unamortized discount — (2,166 ) Net carrying amount $ — $ 47,834 On July 12, 2022, September 1, 2023. August 31, 2023, 15 APHA 24 November 30, May 31, 2023 2023 5.25 $ 350,000 $ 350,000 Debt settlement (213,260 ) (213,260 ) Fair value adjustment (8,341 ) (16,172 ) Net carrying amount $ 128,399 $ 120,568 The APHA 24 April 2019, June 1 December 1 June 1, 2024, 24 24 not 23 27, Holders of the APHA 24 may $1 December 1, 2023 June 1, 2024. may The Company may 24, 24 The Company elected the fair value option under ASC 825 Fair Value Measurements 24. 24 The Company plans to purchase or exchange some or all of its APHA 24 June 2024. 27 The overall change in fair value of APHA 24 six November 30, 2023 November 30, 2022 – There was $136,740 principal outstanding as at November 30, 2023 May 31, 2023. During the three six November 30, 2023 TLRY 23 November 30, May 31, 2023 2023 5.00 $ — $ 277,856 Principal amount paid — (150,526 ) Unamortized discount — (786 ) Net carrying amount $ — $ 126,544 The TLRY 23 April 1 October 1 September 12, 2023, 23 23 24 After cancellation, the outstanding principal balance of the TLRY 23 October 2, 2023, 23 During the three six November 30, 2023 |
Note 14 - Warrant Liability
Note 14 - Warrant Liability | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Warrants [Text Block] | Note 14. As of November 30, 2023 May 31, 2023, March 17, 2025. The warrants contain anti-dilution price protection features, which adjust the exercise price of the warrants if the Company subsequently issues common stock at a price lower than the exercise price of the warrants. In the event additional warrants or convertible debt are issued with a lower and/or variable exercise price, the exercise price of the warrants will be adjusted accordingly. During the six November 30, 2023 may may 3 9 1933 not may may may not The Company estimated the fair value of warrants outstanding at November 30, 2023 3 Expected volatility is based on both historical and implied volatility of the Company’s common stock. |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 15. Issued and outstanding As of November 30, 2023 nil During the six November 30, 2023 a) 39,705,962 shares in connection with the HEXO Acquisition, see Note 7 b) 865,426 shares to settle a contractual change of control severance obligations in the aggregate amount of $1,500 incurred in connection with the HEXO Acquisition. c) 5,004,735 shares to settle dividends payable to the non-controlling shareholders of Aphria Diamond in the amount of $8,146. d) 17,148,541 shares for the settlement of the HTI Convertible Note payable see Note 13 e) 1,032,616 shares to HTI Investments MA LLC pursuant to the terms of a $50.0 million convertible promissory note originally issued by Tilray to HTI on July 12, 2022 f) 1,573,152 shares to settle HEXO-based litigation judgement obtained by MediPharm Labs Inc. in 2022. g) 7,000,000 shares to repurchase $20,000 of its TLRY 23 h) 3,921,665 shares in connection with the exercise of previously awarded stock-based compensation awards. The Company maintains stock-based compensation plans as disclosed in our Annual Financial Statements. For the three six November 30, 2023 three six November 30, 2022, During the six November 30, 2023 November 30, 2022 - not For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Stock options $ — $ 20 $ — $ 624 RSUs 8,201 10,923 16,458 19,512 Total $ 8,201 $ 10,943 $ 16,458 $ 20,136 |
Note 16 - Accumulated Other Com
Note 16 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 16. Accumulated other comprehensive loss includes the following components: Unrealized Foreign loss on currency convertible translation notes gain (loss) receivables Total Balance May 31, 2022 $ 54,413 $ (75,177 ) (20,764 ) Other comprehensive loss (56,443 ) (2,525 ) (58,968 ) Balance August 31, 2022 $ (2,030 ) $ (77,702 ) $ (79,732 ) Other comprehensive loss (24,080 ) (17,643 ) (41,723 ) Balance at November 30, 2022 $ (26,110 ) $ (95,345 ) $ (121,455 ) Balance May 31, 2023 $ (46,610 ) $ — $ (46,610 ) Other comprehensive loss 3,049 — 3,049 Balance August 31, 2023 $ (43,561 ) $ — $ (43,561 ) Other comprehensive loss 5,194 — 5,194 Balance November 30, 2023 $ (38,367 ) $ — $ (38,367 ) |
Note 17 - Non-controlling Inter
Note 17 - Non-controlling Interests | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 17. The following tables summarize the information relating to the Company’s subsidiaries, SH Acquisition (68%), CC Pharma Nordic ApS (75%), Aphria Diamond (51%), and ColCanna S.A.S. (90%) before intercompany eliminations. Summary of balance sheet information of the entities in which there is a non-controlling interest as of November 30, 2023 SH CC Pharma Aphria ColCanna November 30, Acquisition Nordic ApS Diamond S.A.S. 2023 Current assets $ — $ 73 $ 131,023 $ 196 $ 131,292 Non-current assets 74,681 — 131,726 3,580 209,987 Current liabilities — (14 ) (129,105 ) (6,613 ) (135,732 ) Non-current liabilities — (1,195 ) (49,833 ) (1,460 ) (52,488 ) Net assets $ 74,681 $ (1,136 ) $ 83,811 $ (4,297 ) $ 153,059 Summary of balance sheet information of the entities there is a non-controlling interest as of May 31, 2023 SH CC Pharma Aphria ColCanna May 31, Acquisition Nordic ApS Diamond S.A.S. 2023 Current assets $ — $ 114 $ 127,689 $ 224 $ 128,027 Non-current assets 74,681 — 135,085 3,307 213,073 Current liabilities — (1,166 ) (142,554 ) (6,697 ) (150,417 ) Non-current liabilities — — (53,197 ) (1,428 ) (54,625 ) Net assets $ 74,681 $ (1,052 ) $ 67,023 $ (4,594 ) $ 136,058 Summary of income statement information of the entities in which there is a non-controlling interest for the six November 30, 2023 SH CC Pharma Aphria ColCanna November 30, Acquisition Nordic ApS Diamond S.A.S. 2023 Revenue $ — $ — $ 57,078 $ — $ 57,078 Total expenses — 54 32,803 (519 ) 32,338 Net (loss) income — (54 ) 24,275 519 24,740 Other comprehensive (loss) income — (30 ) 404 (222 ) 152 Net comprehensive (loss) income $ — $ (84 ) $ 24,679 $ 297 $ 24,892 Non-controlling interest % 32 % 25 % 49 % 10 % NA Comprehensive (loss) income attributable to NCI - (21 ) 12,093 30 12,102 Additional income attributable to NCI — — 6,554 — 6,554 Net comprehensive (loss) income attributable to NCI $ — $ (21 ) $ 18,647 $ 30 $ 18,656 Summary of income statement information of the entities in which there is a non-controlling interest for the six November 30, 2022 SH CC Pharma Aphria ColCanna November 30, Acquisition Nordic ApS Diamond S.A.S. 2022 Revenue $ — $ 108 $ 65,437 $ — $ 65,545 Total expenses (7,006 ) 471 39,039 56,265 88,769 Net (loss) income 7,006 (363 ) 26,398 (56,265 ) (23,224 ) Other comprehensive (loss) income (11,321 ) — (1,590 ) 363 (12,548 ) Net comprehensive (loss) income $ (4,315 ) $ (363 ) $ 24,808 $ (55,902 ) $ (35,772 ) Non-controlling interest % 32 % 25 % 49 % 10 % NA Comprehensive (loss) income attributable to NCI (1,381 ) (91 ) 12,156 (5,590 ) 5,094 Additional income attributable to NCI — — 6,056 — 6,056 Net comprehensive (loss) income attributable to NCI $ (1,381 ) $ (91 ) $ 18,212 $ (5,590 ) $ 11,150 On January 5, 2024, 1974568 September 1, 2023, June 1, 2023, |
Note 18 - Income Taxes
Note 18 - Income Taxes | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 18. The determination of the Company’s overall effective tax rate requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. The effective tax rate reflects the income earned and taxed in various United States federal, state, and foreign jurisdictions. Tax law changes, increases, and decreases in temporary and permanent differences between book and tax items, valuation allowances against the deferred tax assets, stock compensation, and the Company’s change in income in each jurisdiction all affect the overall effective tax rate. It is the Company’s practice to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company reported income tax (recovery) expense of $(3,380) and $3,884 for the three six November 30, 2023 three six November 30, 2022 no |
Note 19 - Commitments and Conti
Note 19 - Commitments and Contingencies | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 19. Purchase and other commitments The Company has payments on long-term debt, refer to Note 12 13 Total 2024 2025 2026 2027 Thereafter Long-term debt repayment $ 183,238 $ 12,993 $ 45,968 $ 8,953 $ 10,332 $ 104,992 Convertible notes 309,240 136,740 — — 172,500 — Material purchase obligations 56,972 33,584 21,388 2,000 — — Construction commitments 822 822 — — — — Total $ 550,272 $ 184,139 $ 67,356 $ 10,953 $ 182,832 $ 104,992 Legal proceedings In the ordinary course of business, we are at times subject to various legal proceedings and disputes, including the proceedings specifically discussed below. We assess our liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that we will incur a loss and the amount of the loss can be reasonably estimated, we record a liability in our consolidated financial statements. These legal reserves may not not not not may There have been no 10 May 31, 2023 Class Action Suits and Stockholder Derivative Suits Authentic Brands Group Related Class Action (New York, United States) On May 4, 2020, 10 20 1934 January 15, 2019, March 2, 2020. August 6, 2020, October 5, 2020, 10 20 On September 27, 2021, December 3, 2021, second second February 2, 2022. September 28, 2022, second October 12, 2022, On August 21, 2023, second one September 27, 2023, third Legal Proceedings Related to Contractual Obligations 420 Investments Ltd. Litigation On February 21, 2020, 420 “420 August 2019, 420 420 February 2020, 420 no 420 not 420 C$110,000, C$20,000 March 20, 2020. 420 April 20, 2020. 420 August 25, 2020 November 30, 2020. 420 no In February 2023, C$7,000 420 August 28, 2019, March 2020, 2024. Docklight Litigation Settlement On November 5, 2021 2018 2020 2021, 2021 October 10, 2023, MediPharm / HEXO Litigation Settlement In July 2022, October 2, 2023, Summary of litigation accruals As described in Note 11 November 30, 2023 May 31, 2023 - $ six November 30, 2023, not |
Note 20 - Net Revenue
Note 20 - Net Revenue | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 20. The Company reports its net revenue in four Net revenue is comprised of: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Cannabis revenue $ 94,556 $ 66,696 $ 191,440 $ 142,385 Cannabis excise taxes (27,442 ) (16,798 ) (53,993 ) (33,917 ) Net cannabis revenue 67,114 49,898 137,447 108,468 Beverage alcohol revenue 49,651 23,405 74,990 45,268 Beverage alcohol excise taxes (3,146 ) (2,010 ) (4,323 ) (3,219 ) Net beverage alcohol revenue 46,505 21,395 70,667 42,049 Distribution revenue 67,223 60,188 136,380 120,773 Wellness revenue 12,929 12,655 26,226 26,057 Total $ 193,771 $ 144,136 $ 370,720 $ 297,347 |
Note 21 - Cost of Goods Sold
Note 21 - Cost of Goods Sold | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Cost of Goods Sold [Text Block] | Note 21. Cost of goods sold is comprised of: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Cannabis costs $ 46,472 $ 28,577 $ 96,989 $ 57,438 Beverage alcohol costs 30,513 11,420 41,779 22,269 Distribution costs 60,147 52,495 121,615 107,479 Wellness costs 9,230 8,762 18,732 18,665 Total $ 146,362 $ 101,254 $ 279,115 $ 205,851 |
Note 22 - General and Administr
Note 22 - General and Administrative Expenses | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
General and Administrative Expenses [Text Block] | Note 22. General and administrative expenses are comprised of: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Executive compensation $ 3,324 $ 3,050 $ 6,985 $ 6,605 Office and general 8,065 7,383 16,233 13,212 Salaries and wages 15,795 10,151 28,909 24,786 Stock-based compensation 8,201 10,943 16,458 20,136 Insurance 2,499 2,726 6,348 5,429 Professional fees 2,503 1,730 4,002 4,220 (Gain) loss on sale of capital assets (23 ) (64 ) (20 ) 13 Travel and accommodation 1,374 1,219 2,481 2,380 Rent 1,575 740 2,433 1,605 Total $ 43,313 $ 37,878 $ 83,829 $ 78,386 |
Note 23 - Restructuring Charges
Note 23 - Restructuring Charges | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | Note 23. In connection with the execution of our acquisition strategy and strategic transactions, the Company has incurred restructuring and exit costs associated with the integration efforts of these non-recurring transactions. The Company recognized $2,655 and $3,570 of restructuring charges for the three six November 30, 2023 November 30 2023, Within the Cannabis reporting unit, three 24 18 six November 30, 2023, Within the Distribution reporting unit, the Company executed a cost optimization plan during the three months ended November 30, 2023. six November 30, 2023, For the prior period three six November 30, 2022, November 30, 2022, not six November 30, 2023. |
Note 24 - Non-operating Income
Note 24 - Non-operating Income (Expense) | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | Note 24. Non-operating income (expense) is comprised of: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Change in fair value of convertible debenture payable $ (3,894 ) $ (12,698 ) $ (6,041 ) $ (20,582 ) Change in fair value of warrant liability 6,247 37 (1,951 ) 1,585 Foreign exchange loss (gain) (1,024 ) 907 5,243 (24,666 ) Loss on long-term investments 459 (596 ) 350 (1,604 ) Other non-operating (losses) gains, net (967 ) (6,100 ) (1,182 ) (6,175 ) Total $ 821 $ (18,450 ) $ (3,581 ) $ (51,442 ) Included in other non-operating (losses) gains, net for the three six November 30, 2023 15 23 |
Note 25 - Fair Value Measuremen
Note 25 - Fair Value Measurements | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 25. Fair value measurements Financial instruments The Company has classified its financial instruments as described in Note 3 The carrying values of accounts receivable, bank indebtedness and accounts payable and accrued liabilities approximate their fair values due to their short periods to maturity. At November 30, 2023 May 31, 2023 The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of November 30, 2023 May 31, 2023 November 30, Level 1 Level 2 Level 3 2023 Financial assets Cash and cash equivalents $ 143,373 $ — $ — $ 143,373 Restricted cash 1,576 1,576 Marketable securities 116,418 — — 116,418 Convertible notes receivable — — 74,681 74,681 Equity investments measured at fair value — — 5,500 5,500 Financial liabilities Warrant liability — — (3,768 ) (3,768 ) Contingent consideration — — (20,704 ) (20,704 ) APHA 24 Convertible debenture — — (128,399 ) (128,399 ) Total recurring fair value measurements $ 261,367 $ — $ (72,690 ) $ 188,677 May 31, Level 1 Level 2 Level 3 2023 Financial assets Cash and cash equivalents $ 206,632 $ — $ — $ 206,632 Restricted cash — — — — Marketable Securities 241,897 — — 241,897 Convertible notes receivable — — 103,401 103,401 Equity investments measured at fair value 1,056 1,088 5,651 7,795 Financial liabilities Warrant liability — — (1,817 ) (1,817 ) Contingent consideration — — (27,107 ) (27,107 ) APHA 24 Convertible debenture — — (120,568 ) (120,568 ) Total recurring fair value measurements $ 449,585 $ 1,088 $ (40,440 ) $ 410,233 The Company’s financial assets and liabilities required to be measured on a recurring basis are its convertible notes receivable, equity investments measured at fair value, convertible debentures measured at fair value, acquisition-related contingent consideration, and warrant liability. Convertible notes receivable and long-term investments are recorded at fair value. The estimated fair value is determined using the Black Scholes option pricing model, probability of legalization and is classified as Level 3. Convertible debentures payable are recorded at fair value when elected or required under US GAAP. Specifically, the APHA 24 3. Certain equity investments recorded at fair value have quoted prices in active markets for identical assets and are classified as Level 1. 2 3. The warrants associated with the warrant liability are classified as Level 3 The contingent consideration from the acquisitions of SweetWater, Montauk, and Truss due in December 2023, December 2025, 3. six November 30, 2023, The balances of assets and liabilities categorized within Level 3 APHA 24 Convertible Equity Warrant Contingent Convertible notes receivable Investments Liability Consideration Debt Balance, May 31, 2023 $ 103,401 $ 5,651 $ (1,817 ) $ (27,107 ) $ (120,568 ) Additions — — — (4,181 ) — Disposals (28,720 ) — — — — Unrealized gain (loss) on fair value — (151 ) (1,951 ) 10,584 (7,831 ) Impairments — — — — Balance, November 30, 2023 $ 74,681 $ 5,500 $ (3,768 ) $ (20,704 ) $ (128,399 ) The unrealized gain (loss) on fair value for the convertible debenture, the warrant liability, contingent consideration, and debt securities classified under available-for-sale method is recognized in the consolidated statements of loss and comprehensive loss using the following inputs: Significant Valuation unobservable Financial asset / financial liability technique input Inputs APHA Convertible debentures Black-Scholes Volatility, 50% expected life (in years) 0.5 Warrant liability Black-Scholes Volatility, 50% expected life (in years) 1.3 Contingent consideration Discounted cash flows Discount rate, 5% - 11% achievement 25% - 90% Items measured at fair value on a non-recurring basis The Company's prepaids and other current assets, long lived assets, including property and equipment, goodwill and intangible assets are measured at fair value when there is an indicator of impairment and are recorded at fair value only when an impairment charge is recognized. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There have been no |
Note 26 - Segment Reporting
Note 26 - Segment Reporting | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 26. Segment reporting Information reported to the Chief Operating Decision Maker (“CODM”) for the purpose of resource allocation and assessment of segment performance focuses on the nature of the operations. The Company operates in four 1 2 3 4 Operating segments have not no not Segment gross profit from external customers: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Cannabis Net cannabis revenue $ 67,114 $ 49,898 $ 137,447 $ 108,468 Cannabis costs 46,472 28,577 96,989 57,438 Gross profit 20,642 21,321 40,458 51,030 Distribution Distribution revenue 67,223 60,188 136,380 120,773 Distribution costs 60,147 52,495 121,615 107,479 Gross profit 7,076 7,693 14,765 13,294 Beverage alcohol Net beverage alcohol revenue 46,505 21,395 70,667 42,049 Beverage alcohol costs 30,513 11,420 41,779 22,269 Gross profit 15,992 9,975 28,888 19,780 Wellness Wellness revenue 12,929 12,655 26,226 26,057 Wellness costs 9,230 8,762 18,732 18,665 Gross profit $ 3,699 $ 3,893 $ 7,494 $ 7,392 Channels of Cannabis revenue were as follows: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Revenue from Canadian medical cannabis $ 6,288 $ 6,365 $ 12,430 $ 12,885 Revenue from Canadian adult-use cannabis 72,048 52,390 143,243 110,745 Revenue from wholesale cannabis 4,289 236 9,584 628 Revenue from international cannabis 11,931 7,705 26,183 18,127 Less excise taxes (27,442 ) (16,798 ) (53,993 ) (33,917 ) Total $ 67,114 $ 49,898 $ 137,447 $ 108,468 On July 12, 2022, 8 13 June 22, 2023, 7 Included in revenue from Canadian adult-use cannabis is $nil three six November 30, 2023, Geographic net revenue: For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 North America $ 114,619 $ 76,211 $ 208,140 $ 158,403 EMEA 75,292 62,715 154,996 128,756 Rest of World 3,860 5,210 7,584 10,188 Total $ 193,771 $ 144,136 $ 370,720 $ 297,347 Geographic capital assets: November 30, May 31, 2023 2023 North America $ 506,151 $ 319,173 EMEA 105,325 107,131 Rest of World 3,611 3,363 Total $ 615,087 $ 429,667 Major customers are defined as customers that are materially significant to the Company’s annual revenues. For the three six November 30, 2023 2022 |
Note 27 - Subsequent Events
Note 27 - Subsequent Events | 6 Months Ended |
Nov. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 27. Subsequent Events On December 15, 2023 December 21, 2023, 24 On January 5, 2024, 420 not 420 “420 5. On January 5, 2024, 1974568 September 1, 2023, 5. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Nov. 30, 2023 | Nov. 30, 2023 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | 5. 420 On January 5, 2024, June 30, 2023 ( “420 420 not 10.2 10 November 30, 2023. Aphria Diamond Amended Supply Agreement On January 5, 2024, 1974568 The Supply Agreement amends and restates the existing supply agreement, effective as of September 1, 2023, not 10.1 | |
Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Nov. 30, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of consolidation Subsidiaries are entities controlled by the Company. Control exists when the Company either has a controlling voting interest or is the primary beneficiary of a variable interest entity. The financial statements of subsidiaries are included in the condensed interim consolidated financial statements from the date that control commences until the date that control ceases. A complete list of our subsidiaries that existed prior to our most recent year end is included in the Annual Report, except for the entities acquired within Note 7 November 30, 2023 |
Marketable Securities, Policy [Policy Text Block] | Marketable securities We classify term deposits and other investments that have maturities of greater than three one |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted cash We classify cash that is legally or contractually restricted as to withdrawal or usage, as restricted cash. As of November 30, 2023 7 |
Assets Held-for-Sale, Policy [Policy Text Block] | Assets held for sale We classify capital assets that are available and which are probable for immediate sale in their present condition, which the Company has approved the action or plan to sell, as assets held for sale. As of November 30, 2023 7 When there are changes in circumstances that were previously considered unlikely to occur, and it is decided not not |
Investment, Policy [Policy Text Block] | Long-term investments Investments in equity securities of entities over which the Company does not Investments in entities over which the Company does not may not 820 |
Financing Receivable [Policy Text Block] | Convertible notes receivable Convertible notes receivable include various investments in which the Company has the right, or potential right to convert the indenture into common stock of the investee and are classified as available-for-sale and are recorded at fair value. Unrealized gains and losses during the year, net of the related tax effect, are excluded from income and reflected in other comprehensive income (loss), and the cumulative effect is reported as a separate component of shareholders' equity until realized. We use judgement to assess convertible notes receivables for impairment at each measurement date. Convertible notes receivables are impaired when a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded in the statements of loss and comprehensive loss and a new cost basis for the investment is established. We also evaluate whether there is a plan to sell the security, or it is more likely than not |
Revenue [Policy Text Block] | Revenue Revenue is recognized when the control of the promised goods or services, through performance obligation, is transferred/provided to the customer in an amount that reflects the consideration we expect to be entitled to in exchange for the performance obligations. Excise taxes remitted to tax authorities are government-imposed excise taxes on cannabis and beer. Excise taxes are recorded as a reduction of sales in net revenue in the consolidated statements of operations and recognized as a current liability within accounts payable and accrued liabilities on the consolidated balance sheets, with the liability subsequently reduced when the taxes are remitted to the tax authority. In addition, amounts disclosed as net revenue are net of excise taxes, sales tax, duty tax, allowances, discounts and rebates. In determining the transaction price for the sale of goods or services, the Company considers the effects of variable consideration and the existence of significant financing components, if any. We may may may On July 12, 2022, 26 June 22, 2023, 7 |
Transaction Costs Policy [Policy Text Block] | Transaction (income) costs The Company expenses costs net of any gains directly attributable to business acquisitions and classifies these items as transaction (income) costs. These items include among other things, legal fees to complete the acquisition, financial advisor and due diligence costs, and transaction related compensation. These items are recognized as incurred. |
Earnings Per Share, Policy [Policy Text Block] | Earnings (loss) per share Basic earnings (loss) per share is computed by dividing reported net income (loss) attributable to stockholders of Tilray Brands, Inc. by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share is computed by dividing reported net income (loss) attributable to stockholders of Tilray Brands, Inc. by the sum of the weighted average number of common shares and the number of dilutive potential common share equivalents outstanding during the period. Potential dilutive common share equivalents consist of the incremental common shares issuable upon the exercise of vested share options, warrants, and RSUs and the incremental shares issuable upon conversion of the convertible debentures and similar instruments. Shares of common stock outstanding under the share lending arrangement entered into in conjunction with the TLRY 27 13 In computing diluted earnings (loss) per share, common share equivalents are not three November 30, 2023 November 30, 2022, |
New Accounting Pronouncements, Policy [Policy Text Block] | New accounting pronouncements not In August 2023, 2023 05, Business Combination - Joint Venture Formations 805 60 2023 05” 2023 05 June 1, 2026. In October 2023, 2023 06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, X June 30, 2027, not X not In November 2023, 2023 07, Segment Reporting (Topic 280 2023 07 May 31, 2025. In December 2023, 2023 09, Income Taxes (Topic 740 2023 09 June 01, 2024. New accounting pronouncements recently adopted In October 2021, 2021 08, Business Combinations (Subtopic 805 2021 08” 2021 08 June 1, 2023, not |
Note 2 - Inventory (Tables)
Note 2 - Inventory (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | November 30, May 31, 2023 2023 Plants $ 14,908 $ 10,884 Dried cannabis 107,805 89,801 Cannabis trim - 322 Cannabis derivatives 4,814 9,229 Cannabis vapes 7,076 1,173 Packaging and other inventory items 17,924 19,997 Wellness inventory 11,395 11,164 Beverage alcohol inventory 52,371 27,837 Distribution inventory 36,409 30,144 Total $ 252,702 $ 200,551 |
Note 3 - Capital Assets (Tables
Note 3 - Capital Assets (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | November 30, May 31, 2023 2023 Land $ 46,385 $ 30,635 Production facility 344,593 344,627 Equipment 319,749 185,422 Leasehold improvement 8,147 7,753 Finance lease, right-of-use assets 57,056 — Construction in progress 12,794 8,048 $ 788,724 $ 576,485 Less: accumulated amortization (173,637 ) (146,818 ) Total $ 615,087 $ 429,667 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Lease Related Assets and Liabilities [Table Text Block] | November 30, May 31, Classification on Balance Sheet 2023 2023 Assets Finance lease, right-of-use assets Capital assets $ 57,056 $ — Operating lease, right-of-use assets Right of use assets 13,551 5,941 Total right-of-use asset $ 70,607 $ 5,941 Liabilities Current: Current portion of finance lease liabilities Accrued lease obligations - current $ 1,336 $ — Current portion of operating lease liabilities Accrued lease obligations - current 3,707 2,423 Non-current: Finance lease liabilities Accrued lease obligations - non-current 56,010 — Operating lease liabilities Accrued lease obligations - non-current 13,964 7,936 Total lease liabilities $ 75,017 $ 10,359 |
Lessee, Operating and Finance Lease, Liabilities, to be Paid, Maturity [Table Text Block] | Operating Finance leases leases 2024 $ 4,106 $ 4,622 2025 3,295 4,699 2026 3,486 4,782 2027 3,412 4,542 Thereafter 4,012 87,903 Total minimum lease payments $ 18,311 $ 106,548 Imputed interest (640 ) (49,202 ) Obligations recognized $ 17,671 $ 57,346 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | November 30, May 31, 2023 2023 Customer relationships & distribution channel $ 620,876 $ 614,062 Licenses, permits & applications 370,753 366,793 Non-compete agreements 12,441 12,394 Intellectual property, trademarks, knowhow & brands 594,948 583,468 1,599,018 $ 1,576,717 Less: accumulated amortization (229,755 ) (187,088 ) Less: impairments (415,844 ) (415,844 ) Total $ 953,419 $ 973,785 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Amortization 2024 (remaining six months) $ 36,861 2025 73,722 2026 73,722 2027 73,722 2028 73,722 Thereafter 436,812 Total $ 768,561 |
Note 6 - Goodwill (Tables)
Note 6 - Goodwill (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | November 30, May 31, Reporting Unit 2023 2023 Cannabis $ 2,640,669 $ 2,640,669 Distribution 4,458 4,458 Beverage alcohol 120,802 120,802 Wellness 77,470 77,470 Effect of foreign exchange 8,746 7,875 Impairments (842,431 ) (842,431 ) Total $ 2,009,714 $ 2,008,843 |
Note 7 - Business Acquisitions
Note 7 - Business Acquisitions (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Amount Consideration Cash $ 28,701 Shares 6,422 Contingent consideration 10,245 Net assets acquired Current assets Cash and cash equivalents 1,983 Accounts receivable 1,116 Prepaids and other current assets 467 Inventory 1,570 Long-term assets Capital assets 420 Customer relationships ( 15 18,540 Intellectual property, trademarks & brands ( 15 13,650 Goodwill 17,803 Total assets 55,549 Current liabilities Accounts payable and accrued liabilities 1,580 Long-term liabilities Deferred tax liability 4,851 Other liabilities 3,750 Total liabilities 10,181 Total net assets acquired $ 45,368 Amount Consideration Shares $ 63,927 Settlement of convertible notes receivable 28,720 Warrants assumed 47 Estimated fair value of HEXO stock-based compensation 1,188 Net assets acquired Current assets Cash and cash equivalents 14,634 Restricted cash 1,656 Accounts receivable 7,855 Asset held for sale 755 Prepaids and other current assets 2,709 Inventory 25,947 Long-term assets Prepaid expenses 8,384 Capital assets 70,634 Intellectual property, trademarks & brands ( 15 2,680 Interest in equity investee 3,145 Total assets 138,399 Current liabilities Accounts payable and accrued liabilities 44,517 Total liabilities 44,517 Total net assets acquired $ 93,882 Amount Consideration Cash consideration $ 74 Investment in equity investees 3,145 Contingent consideration 4,181 Net assets acquired Current assets Cash and cash equivalents 6,739 Accounts receivable 1,038 Prepaids and other current assets 78 Inventory 2,573 Asset held for sale 2,960 Long-term assets Intangible assets 296 Total assets 13,684 Current liabilities Accounts payable and accrued liabilities 5,408 Other liabilities 876 Total liabilities 6,284 Total net assets acquired 7,400 Amount Consideration Cash consideration $ 83,658 Net assets acquired Current assets Cash and cash equivalents 77 Inventory 22,493 Prepaids and other current assets 573 Long-term assets Capital assets 62,614 Finance lease, right-of-use assets 45,496 Operating lease, right-of-use assets 7,677 Other assets 108 Total assets 139,038 Current liabilities Accounts payable and accrued liabilities 2,206 Current portion of finance lease liabilities 1,031 Current portion of operating lease liabilities 1,408 Long - term liabilities Finance lease liabilities 44,465 Operating lease liabilities 6,270 Total liabilities 55,380 Total net assets acquired 83,658 |
Note 8 - Convertible Notes Re_2
Note 8 - Convertible Notes Receivable (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | November 30, May 31, 2023 2023 HEXO Convertible Note $ - $ 28,720 MedMen Convertible Note 74,681 74,681 Total convertible notes receivable 74,681 103,401 Deduct - current portion - - Total convertible notes receivable, non current portion $ 74,681 $ 103,401 |
Note 9 - Long-term Investments
Note 9 - Long-term Investments (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | November 30, May 31, 2023 2023 Equity investments measured at fair value $ 2,534 $ 2,144 Equity investments under measurement alternative 5,500 5,651 Total $ 8,034 $ 7,795 |
Note 11 - Accounts Payable an_2
Note 11 - Accounts Payable and Accrued Liabilities (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | November 30, May 31, 2023 2023 Trade payables $ 88,363 $ 70,819 Accrued liabilities 75,851 48,394 Litigation expense accrual 25,338 25,000 Accrued payroll and employment related taxes 11,382 18,772 Income taxes payable 3,248 14,934 Accrued interest 8,147 8,102 Sales taxes payable 4,569 4,661 Total $ 216,898 $ 190,682 |
Note 12 - Long-term Debt (Table
Note 12 - Long-term Debt (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | November 30, May 31, 2023 2023 Credit facility - C$ 66,000 3 10 November 2025 $ 42,920 $ 45,260 Term loan - C$ 25,000 1.00 5 15 181 July 2033 10,726 10,959 Term loan - C$ 25,000 1.00 5 15 196 July 2033 12,937 13,092 Term loan - C$ 1,250 1.50 5 10 12 August 2026 309 346 Mortgage payable - C$ 3,750 1.50 5 20 23 August 2026 2,125 2,104 Term loan ‐ € 5,000 2.15 5 250 December 2023 112 803 Term loan ‐ € 1,200 4.26 1 100 December 2023 275 755 Term loan ‐ € 1,500 2.00 5 94 April 2025 634 819 Term loan ‐ € 3,500 4.59 5 52 August 2028 3,563 1,706 Mortgage payable - $ 22,635 1.5 10 57 October 2030 20,512 20,863 Term loan - $ 90,000 5 875 1,750 June 2028 89,125 65,000 Carrying amount of long-term debt 183,238 161,707 Unamortized financing fees (1,146 ) (738 ) Net carrying amount 182,092 160,969 Less principal portion included in current liabilities (12,993 ) (24,080 ) Total noncurrent portion of long-term debt $ 169,099 $ 136,889 |
Note 13 - Convertible Debentu_2
Note 13 - Convertible Debentures Payable (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Convertible Debt [Table Text Block] | November 30, May 31, 2023 2023 5.20 $ 123,691 $ 100,476 HTI Convertible Note - 47,834 5.25 128,399 120,568 5.00 - 126,544 Total 252,090 395,422 Deduct - current portion 128,399 174,378 Total convertible debentures payable, non current portion $ 123,691 $ 221,044 November 30, May 31, 2023 2023 5.20 $ 172,500 $ 150,000 Unamortized discount (48,809 ) (49,524 ) Net carrying amount $ 123,691 $ 100,476 November 30, May 31, 2023 2023 4.00 $ — $ 50,000 Unamortized discount — (2,166 ) Net carrying amount $ — $ 47,834 November 30, May 31, 2023 2023 5.25 $ 350,000 $ 350,000 Debt settlement (213,260 ) (213,260 ) Fair value adjustment (8,341 ) (16,172 ) Net carrying amount $ 128,399 $ 120,568 November 30, May 31, 2023 2023 5.00 $ — $ 277,856 Principal amount paid — (150,526 ) Unamortized discount — (786 ) Net carrying amount $ — $ 126,544 |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Stock options $ — $ 20 $ — $ 624 RSUs 8,201 10,923 16,458 19,512 Total $ 8,201 $ 10,943 $ 16,458 $ 20,136 |
Note 16 - Accumulated Other C_2
Note 16 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Foreign loss on currency convertible translation notes gain (loss) receivables Total Balance May 31, 2022 $ 54,413 $ (75,177 ) (20,764 ) Other comprehensive loss (56,443 ) (2,525 ) (58,968 ) Balance August 31, 2022 $ (2,030 ) $ (77,702 ) $ (79,732 ) Other comprehensive loss (24,080 ) (17,643 ) (41,723 ) Balance at November 30, 2022 $ (26,110 ) $ (95,345 ) $ (121,455 ) Balance May 31, 2023 $ (46,610 ) $ — $ (46,610 ) Other comprehensive loss 3,049 — 3,049 Balance August 31, 2023 $ (43,561 ) $ — $ (43,561 ) Other comprehensive loss 5,194 — 5,194 Balance November 30, 2023 $ (38,367 ) $ — $ (38,367 ) |
Note 17 - Non-controlling Int_2
Note 17 - Non-controlling Interests (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | SH CC Pharma Aphria ColCanna November 30, Acquisition Nordic ApS Diamond S.A.S. 2023 Current assets $ — $ 73 $ 131,023 $ 196 $ 131,292 Non-current assets 74,681 — 131,726 3,580 209,987 Current liabilities — (14 ) (129,105 ) (6,613 ) (135,732 ) Non-current liabilities — (1,195 ) (49,833 ) (1,460 ) (52,488 ) Net assets $ 74,681 $ (1,136 ) $ 83,811 $ (4,297 ) $ 153,059 SH CC Pharma Aphria ColCanna May 31, Acquisition Nordic ApS Diamond S.A.S. 2023 Current assets $ — $ 114 $ 127,689 $ 224 $ 128,027 Non-current assets 74,681 — 135,085 3,307 213,073 Current liabilities — (1,166 ) (142,554 ) (6,697 ) (150,417 ) Non-current liabilities — — (53,197 ) (1,428 ) (54,625 ) Net assets $ 74,681 $ (1,052 ) $ 67,023 $ (4,594 ) $ 136,058 |
Condensed Income Statement [Table Text Block] | SH CC Pharma Aphria ColCanna November 30, Acquisition Nordic ApS Diamond S.A.S. 2023 Revenue $ — $ — $ 57,078 $ — $ 57,078 Total expenses — 54 32,803 (519 ) 32,338 Net (loss) income — (54 ) 24,275 519 24,740 Other comprehensive (loss) income — (30 ) 404 (222 ) 152 Net comprehensive (loss) income $ — $ (84 ) $ 24,679 $ 297 $ 24,892 Non-controlling interest % 32 % 25 % 49 % 10 % NA Comprehensive (loss) income attributable to NCI - (21 ) 12,093 30 12,102 Additional income attributable to NCI — — 6,554 — 6,554 Net comprehensive (loss) income attributable to NCI $ — $ (21 ) $ 18,647 $ 30 $ 18,656 SH CC Pharma Aphria ColCanna November 30, Acquisition Nordic ApS Diamond S.A.S. 2022 Revenue $ — $ 108 $ 65,437 $ — $ 65,545 Total expenses (7,006 ) 471 39,039 56,265 88,769 Net (loss) income 7,006 (363 ) 26,398 (56,265 ) (23,224 ) Other comprehensive (loss) income (11,321 ) — (1,590 ) 363 (12,548 ) Net comprehensive (loss) income $ (4,315 ) $ (363 ) $ 24,808 $ (55,902 ) $ (35,772 ) Non-controlling interest % 32 % 25 % 49 % 10 % NA Comprehensive (loss) income attributable to NCI (1,381 ) (91 ) 12,156 (5,590 ) 5,094 Additional income attributable to NCI — — 6,056 — 6,056 Net comprehensive (loss) income attributable to NCI $ (1,381 ) $ (91 ) $ 18,212 $ (5,590 ) $ 11,150 |
Note 19 - Commitments and Con_2
Note 19 - Commitments and Contingencies (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Total 2024 2025 2026 2027 Thereafter Long-term debt repayment $ 183,238 $ 12,993 $ 45,968 $ 8,953 $ 10,332 $ 104,992 Convertible notes 309,240 136,740 — — 172,500 — Material purchase obligations 56,972 33,584 21,388 2,000 — — Construction commitments 822 822 — — — — Total $ 550,272 $ 184,139 $ 67,356 $ 10,953 $ 182,832 $ 104,992 |
Note 20 - Net Revenue (Tables)
Note 20 - Net Revenue (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Cannabis revenue $ 94,556 $ 66,696 $ 191,440 $ 142,385 Cannabis excise taxes (27,442 ) (16,798 ) (53,993 ) (33,917 ) Net cannabis revenue 67,114 49,898 137,447 108,468 Beverage alcohol revenue 49,651 23,405 74,990 45,268 Beverage alcohol excise taxes (3,146 ) (2,010 ) (4,323 ) (3,219 ) Net beverage alcohol revenue 46,505 21,395 70,667 42,049 Distribution revenue 67,223 60,188 136,380 120,773 Wellness revenue 12,929 12,655 26,226 26,057 Total $ 193,771 $ 144,136 $ 370,720 $ 297,347 |
Note 21 - Cost of Goods Sold (T
Note 21 - Cost of Goods Sold (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Cost of Goods Sold [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Cannabis costs $ 46,472 $ 28,577 $ 96,989 $ 57,438 Beverage alcohol costs 30,513 11,420 41,779 22,269 Distribution costs 60,147 52,495 121,615 107,479 Wellness costs 9,230 8,762 18,732 18,665 Total $ 146,362 $ 101,254 $ 279,115 $ 205,851 |
Note 22 - General and Adminis_2
Note 22 - General and Administrative Expenses (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of General and Administrative Expenses [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Executive compensation $ 3,324 $ 3,050 $ 6,985 $ 6,605 Office and general 8,065 7,383 16,233 13,212 Salaries and wages 15,795 10,151 28,909 24,786 Stock-based compensation 8,201 10,943 16,458 20,136 Insurance 2,499 2,726 6,348 5,429 Professional fees 2,503 1,730 4,002 4,220 (Gain) loss on sale of capital assets (23 ) (64 ) (20 ) 13 Travel and accommodation 1,374 1,219 2,481 2,380 Rent 1,575 740 2,433 1,605 Total $ 43,313 $ 37,878 $ 83,829 $ 78,386 |
Note 24 - Non-operating Incom_2
Note 24 - Non-operating Income (Expense) (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Change in fair value of convertible debenture payable $ (3,894 ) $ (12,698 ) $ (6,041 ) $ (20,582 ) Change in fair value of warrant liability 6,247 37 (1,951 ) 1,585 Foreign exchange loss (gain) (1,024 ) 907 5,243 (24,666 ) Loss on long-term investments 459 (596 ) 350 (1,604 ) Other non-operating (losses) gains, net (967 ) (6,100 ) (1,182 ) (6,175 ) Total $ 821 $ (18,450 ) $ (3,581 ) $ (51,442 ) |
Note 25 - Fair Value Measurem_2
Note 25 - Fair Value Measurements (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | November 30, Level 1 Level 2 Level 3 2023 Financial assets Cash and cash equivalents $ 143,373 $ — $ — $ 143,373 Restricted cash 1,576 1,576 Marketable securities 116,418 — — 116,418 Convertible notes receivable — — 74,681 74,681 Equity investments measured at fair value — — 5,500 5,500 Financial liabilities Warrant liability — — (3,768 ) (3,768 ) Contingent consideration — — (20,704 ) (20,704 ) APHA 24 Convertible debenture — — (128,399 ) (128,399 ) Total recurring fair value measurements $ 261,367 $ — $ (72,690 ) $ 188,677 May 31, Level 1 Level 2 Level 3 2023 Financial assets Cash and cash equivalents $ 206,632 $ — $ — $ 206,632 Restricted cash — — — — Marketable Securities 241,897 — — 241,897 Convertible notes receivable — — 103,401 103,401 Equity investments measured at fair value 1,056 1,088 5,651 7,795 Financial liabilities Warrant liability — — (1,817 ) (1,817 ) Contingent consideration — — (27,107 ) (27,107 ) APHA 24 Convertible debenture — — (120,568 ) (120,568 ) Total recurring fair value measurements $ 449,585 $ 1,088 $ (40,440 ) $ 410,233 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | APHA 24 Convertible Equity Warrant Contingent Convertible notes receivable Investments Liability Consideration Debt Balance, May 31, 2023 $ 103,401 $ 5,651 $ (1,817 ) $ (27,107 ) $ (120,568 ) Additions — — — (4,181 ) — Disposals (28,720 ) — — — — Unrealized gain (loss) on fair value — (151 ) (1,951 ) 10,584 (7,831 ) Impairments — — — — Balance, November 30, 2023 $ 74,681 $ 5,500 $ (3,768 ) $ (20,704 ) $ (128,399 ) |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Significant Valuation unobservable Financial asset / financial liability technique input Inputs APHA Convertible debentures Black-Scholes Volatility, 50% expected life (in years) 0.5 Warrant liability Black-Scholes Volatility, 50% expected life (in years) 1.3 Contingent consideration Discounted cash flows Discount rate, 5% - 11% achievement 25% - 90% |
Note 26 - Segment Reporting (Ta
Note 26 - Segment Reporting (Tables) | 6 Months Ended |
Nov. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Cannabis Net cannabis revenue $ 67,114 $ 49,898 $ 137,447 $ 108,468 Cannabis costs 46,472 28,577 96,989 57,438 Gross profit 20,642 21,321 40,458 51,030 Distribution Distribution revenue 67,223 60,188 136,380 120,773 Distribution costs 60,147 52,495 121,615 107,479 Gross profit 7,076 7,693 14,765 13,294 Beverage alcohol Net beverage alcohol revenue 46,505 21,395 70,667 42,049 Beverage alcohol costs 30,513 11,420 41,779 22,269 Gross profit 15,992 9,975 28,888 19,780 Wellness Wellness revenue 12,929 12,655 26,226 26,057 Wellness costs 9,230 8,762 18,732 18,665 Gross profit $ 3,699 $ 3,893 $ 7,494 $ 7,392 For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 Revenue from Canadian medical cannabis $ 6,288 $ 6,365 $ 12,430 $ 12,885 Revenue from Canadian adult-use cannabis 72,048 52,390 143,243 110,745 Revenue from wholesale cannabis 4,289 236 9,584 628 Revenue from international cannabis 11,931 7,705 26,183 18,127 Less excise taxes (27,442 ) (16,798 ) (53,993 ) (33,917 ) Total $ 67,114 $ 49,898 $ 137,447 $ 108,468 |
Revenue from External Customers by Geographic Areas [Table Text Block] | For the three months For the six months ended November 30, ended November 30, 2023 2022 2023 2022 North America $ 114,619 $ 76,211 $ 208,140 $ 158,403 EMEA 75,292 62,715 154,996 128,756 Rest of World 3,860 5,210 7,584 10,188 Total $ 193,771 $ 144,136 $ 370,720 $ 297,347 |
Long-Lived Assets by Geographic Areas [Table Text Block] | November 30, May 31, 2023 2023 North America $ 506,151 $ 319,173 EMEA 105,325 107,131 Rest of World 3,611 3,363 Total $ 615,087 $ 429,667 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Restricted Cash | $ 1,576 | $ 0 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | May 31, 2023 | |
Restricted Cash | $ 1,576 | $ 0 | |
Assets held for sale | $ 736 | $ 0 | |
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities (in shares) | 77,181,260 | 23,981,704 | |
Restricted Stock Units (RSUs) [Member] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares) | 20,939,082 | 16,884,493 | |
Share-Based Payment Arrangement, Option [Member] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares) | 6,280,065 | 4,674,512 | |
Warrant [Member] | |||
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares) | 6,209,000 | 6,209,000 | |
Kirkland Lake Property [Member] | |||
Assets held for sale | $ 736 | ||
Restricted Cash, Reserved for Letters of Credit and Acquisition-related Collateral [Member] | |||
Restricted Cash | $ 1,576 |
Note 2 - Inventory - Schedule o
Note 2 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Inventory | $ 252,702 | $ 200,551 |
Plants [Member] | ||
Inventory | 14,908 | 10,884 |
Dried Cannabis [Member] | ||
Inventory | 107,805 | 89,801 |
Cannabis Trim [Member] | ||
Inventory | 0 | 322 |
Cannabis Derivatives [Member] | ||
Inventory | 4,814 | 9,229 |
Cannabis Vapes [Member] | ||
Inventory | 7,076 | 1,173 |
Packaging and Other Inventory Items [Member] | ||
Inventory | 17,924 | 19,997 |
Wellness Inventory [Member] | ||
Inventory | 11,395 | 11,164 |
Beverage Alcohol Inventory [Member] | ||
Inventory | 52,371 | 27,837 |
Distribution Inventory [Member] | ||
Inventory | $ 36,409 | $ 30,144 |
Note 3 - Capital Assets - Sched
Note 3 - Capital Assets - Schedule of Capital Assets (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Capital assets, gross | $ 788,724 | $ 576,485 |
Less: accumulated amortization | (173,637) | (146,818) |
Total | 615,087 | 429,667 |
Land [Member] | ||
Capital assets, gross | 46,385 | 30,635 |
Manufacturing Facility [Member] | ||
Capital assets, gross | 344,593 | 344,627 |
Equipment [Member] | ||
Capital assets, gross | 319,749 | 185,422 |
Leasehold Improvements [Member] | ||
Capital assets, gross | 8,147 | 7,753 |
Right of Use Assets [Member] | ||
Capital assets, gross | 57,056 | 0 |
Construction in Progress [Member] | ||
Capital assets, gross | $ 12,794 | $ 8,048 |
Note 4 - Leases - Lease Related
Note 4 - Leases - Lease Related Assets and Liabilities (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Finance lease, right-of-use assets | $ 57,056 | $ 0 |
Operating lease, right-of-use assets | 13,551 | 5,941 |
Total right-of-use asset | 70,607 | 5,941 |
Total lease liabilities | 75,017 | 10,359 |
Accrued Lease Obligation, Current [Member] | ||
Current portion of finance lease liabilities | 1,336 | 0 |
Current portion of operating lease liabilities | 3,707 | 2,423 |
Accrued Lease Obligation, Non-current [Member] | ||
Finance lease liabilities | 56,010 | 0 |
Operating lease liabilities | $ 13,964 | $ 7,936 |
Note 4 - Leases - Schedule of M
Note 4 - Leases - Schedule of Maturity (Details) $ in Thousands | Nov. 30, 2023 USD ($) |
2024, operating | $ 4,106 |
2024, finance | 4,622 |
2025, operating | 3,295 |
2025, finance | 4,699 |
2026, operating | 3,486 |
2026, finance | 4,782 |
2027, operating | 3,412 |
2027, finance | 4,542 |
Thereafter, operating | 4,012 |
Thereafter, finance | 87,903 |
Total minimum lease payments, operating | 18,311 |
Total minimum lease payments | 106,548 |
Imputed interest, operating | (640) |
Imputed interest | (49,202) |
Obligations recognized, operating | 17,671 |
Obligations recognized | $ 57,346 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) | Nov. 30, 2023 | May 31, 2023 |
Licenses, Permits and Applications [Member] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | $ 184,858 | $ 181,093 |
Note 5 - Intangible Assets - Sc
Note 5 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Cost | $ 1,599,018 | $ 1,576,717 |
Less: accumulated amortization | (229,755) | (187,088) |
Less: impairments | (415,844) | (415,844) |
Total | 953,419 | 973,785 |
Customer Relationships and Distribution Channel [Member] | ||
Cost | 620,876 | 614,062 |
Licenses, Permits and Applications [Member] | ||
Cost | 370,753 | 366,793 |
Noncompete Agreements [Member] | ||
Cost | 12,441 | 12,394 |
Intellectual Property, Trademarks, Know How and Brands [Member] | ||
Cost | $ 594,948 | $ 583,468 |
Note 5 - Intangible Assets-Sche
Note 5 - Intangible Assets-Schedule of Estimated Amortization Expense (Details) $ in Thousands | Nov. 30, 2023 USD ($) |
2024 (remaining six months) | $ 36,861 |
2025 | 73,722 |
2026 | 73,722 |
2027 | 73,722 |
2028 | 73,722 |
Thereafter | 436,812 |
Total | $ 768,561 |
Note 6 - Goodwill - Carrying Am
Note 6 - Goodwill - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Effect of foreign exchange | $ 8,746 | $ 7,875 |
Impairments | (842,431) | (842,431) |
Goodwill | 2,009,714 | 2,008,843 |
Cannabis Segment [Member] | ||
Goodwill, gross | 2,640,669 | 2,640,669 |
Distribution Business [Member] | ||
Goodwill, gross | 4,458 | 4,458 |
Beverage Alcohol Business [Member] | ||
Goodwill, gross | 120,802 | 120,802 |
Wellness Business [Member] | ||
Goodwill, gross | $ 77,470 | $ 77,470 |
Note 7 - Business Acquisition_2
Note 7 - Business Acquisitions (Details Textual) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||||||||
Sep. 29, 2023 USD ($) | Aug. 30, 2023 USD ($) | Aug. 03, 2023 USD ($) | Aug. 03, 2023 CAD ($) | Jun. 22, 2023 USD ($) $ / shares shares | Nov. 07, 2022 USD ($) shares | Nov. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | Nov. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | |
Acquisition of Montauk Brewing Company, Inc. [Member] | ||||||||||
Business Combination, Consideration Transferred | $ 35,123,000 | |||||||||
Payments to Acquire Businesses, Gross | 28,701,000 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 6,422,000 | |||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 18,000,000 | |||||||||
Business Combination, Contingent Consideration, Liability, Total | 10,245,000 | |||||||||
Business Acquisition, Pro Forma Revenue | $ 3,100,000 | $ 9,000,000 | ||||||||
Business Acquisition, Pro Forma Net Income (Loss) | (600,000) | (500,000) | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 10,245,000 | |||||||||
Acquisition of Montauk Brewing Company, Inc. [Member] | Common Class 2 [Member] | ||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 1,708,521 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 6,422,000 | |||||||||
HEXO [Member] | ||||||||||
Business Combination, Consideration Transferred | $ 93,882,000 | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 39,705,962 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 63,927,000 | |||||||||
Business Acquisition, Pro Forma Revenue | $ 0 | 20,000,000 | $ 7,000,000 | 40,000,000 | ||||||
Business Acquisition, Pro Forma Net Income (Loss) | 0 | 30,000,000 | 1,800,000 | 60,000,000 | ||||||
Business Combination, Consideration Transferred, Settlement of Convertible Notes Receivable | 28,720,000 | |||||||||
Business Combination, Consideration Transferred, Fair Value of Stock Based Compensation | 1,188,000 | |||||||||
Business Combination, Consideration Transferred, Warrants Assumed | $ 47,000 | |||||||||
Business Combination, Common Share Exchange Ratio | 0.4352 | |||||||||
Business Combination, Preferred Share Exchange Ratio | 0.7805 | |||||||||
Business Acquisition, Share Price (in dollars per share) | $ / shares | $ 1.61 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Litigation Settlement Accruals | $ 12,253 | |||||||||
Truss Beverage Company [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 74,000 | $ 0.1 | ||||||||
Business Acquisition, Pro Forma Revenue | 0 | 3,300,000 | 3,000,000 | 6,300,000 | ||||||
Business Acquisition, Pro Forma Net Income (Loss) | 0 | 500,000 | 700,000 | 1,200,000 | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 57.50% | 57.50% | ||||||||
Truss Beverage Company [Member] | Contingent Consideration [Member] | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 4,181,000 | $ 4,181,000 | ||||||||
Craft Beverage Business Acquisition [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 83,658,000 | |||||||||
Business Acquisition, Pro Forma Revenue | 14,000,000 | 42,000,000 | 55,000,000 | 85,000,000 | ||||||
Business Acquisition, Pro Forma Net Income (Loss) | $ (2,000,000) | $ (1,400,000) | $ (5,000,000) | $ (900,000) | ||||||
Number of Brands Acquired | 8 | |||||||||
Working Capital Adjustment | $ 1,342,000 | |||||||||
Craft Beverage Business Acquisition [Member] | Delayed Draw Term Loan Agreement [Member] | ||||||||||
Long-Term Debt | $ 20,000,000 |
Note 7 - Business Acquisition_3
Note 7 - Business Acquisitions - Assets Acquired and Liabilities Assumed (Details) $ in Millions | Sep. 29, 2023 USD ($) | Aug. 30, 2023 USD ($) | Aug. 03, 2023 USD ($) | Aug. 03, 2023 CAD ($) | Jun. 22, 2023 USD ($) | Nov. 07, 2022 USD ($) | Nov. 30, 2023 USD ($) | May 31, 2023 USD ($) |
Goodwill | $ 2,009,714,000 | $ 2,008,843,000 | ||||||
Finance lease, right-of-use assets | $ 45,496 | |||||||
Acquisition of Montauk Brewing Company, Inc. [Member] | ||||||||
Cash | $ 28,701,000 | |||||||
Shares | 6,422,000 | |||||||
Contingent consideration | 10,245,000 | |||||||
Cash and cash equivalents | 1,983,000 | |||||||
Accounts receivable | 1,116,000 | |||||||
Prepaids and other current assets | 467,000 | |||||||
Inventory | 1,570,000 | |||||||
Capital assets | 420,000 | |||||||
Goodwill | 17,803,000 | |||||||
Total assets | 55,549,000 | |||||||
Accounts payable and accrued liabilities | 1,580,000 | |||||||
Deferred tax liability | 4,851,000 | |||||||
Other liabilities | 3,750,000 | |||||||
Total liabilities | 10,181,000 | |||||||
Total net assets acquired | 45,368,000 | |||||||
Acquisition of Montauk Brewing Company, Inc. [Member] | Customer Relationships [Member] | ||||||||
Finite-lived intangible assets | 18,540,000 | |||||||
Acquisition of Montauk Brewing Company, Inc. [Member] | Intellectual Property, Trademarks and Brands [Member] | ||||||||
Finite-lived intangible assets | $ 13,650,000 | |||||||
HEXO [Member] | ||||||||
Shares | $ 63,927,000 | |||||||
Cash and cash equivalents | 14,634,000 | |||||||
Accounts receivable | 7,855,000 | |||||||
Prepaids and other current assets | 2,709,000 | |||||||
Inventory | 25,947,000 | |||||||
Capital assets | 70,634,000 | |||||||
Finite-lived intangible assets | 2,680,000 | |||||||
Accounts payable and accrued liabilities | 44,517,000 | |||||||
Total liabilities | 44,517,000 | |||||||
Total net assets acquired | 93,882,000 | |||||||
Settlement of convertible notes receivable | 28,720,000 | |||||||
Warrants assumed | 47,000 | |||||||
Estimated fair value of HEXO stock-based compensation | 1,188,000 | |||||||
Restricted cash | 1,656,000 | |||||||
Asset held for sale | 755,000 | |||||||
Prepaid expenses | 8,384,000 | |||||||
Interest in equity investee | 3,145,000 | |||||||
Total assets | $ 138,399,000 | |||||||
Truss Beverage Company [Member] | ||||||||
Cash | $ 74,000 | $ 0.1 | ||||||
Cash and cash equivalents | 6,739,000 | |||||||
Accounts receivable | 1,038,000 | |||||||
Prepaids and other current assets | 78,000 | |||||||
Inventory | 2,573,000 | |||||||
Finite-lived intangible assets | 296,000 | |||||||
Accounts payable and accrued liabilities | 5,408,000 | |||||||
Total liabilities | 6,284,000 | |||||||
Total net assets acquired | 7,400,000 | |||||||
Asset held for sale | 2,960,000 | |||||||
Total assets | 13,684,000 | |||||||
Investment in equity investees | 3,145,000 | |||||||
Other liabilities | 876,000 | |||||||
Truss Beverage Company [Member] | Contingent Consideration [Member] | ||||||||
Contingent consideration | $ 4,181,000 | $ 4,181,000 | ||||||
Craft Beverage Business Acquisition [Member] | ||||||||
Cash | 83,658,000 | |||||||
Cash and cash equivalents | 77,000 | |||||||
Prepaids and other current assets | 573,000 | |||||||
Inventory | 22,493,000 | |||||||
Capital assets | 62,614,000 | |||||||
Accounts payable and accrued liabilities | 2,206,000 | |||||||
Total liabilities | 55,380,000 | |||||||
Total net assets acquired | 83,658,000 | |||||||
Total assets | 139,038,000 | |||||||
Operating lease, right-of-use assets | 7,677,000 | |||||||
Other assets | 108,000 | |||||||
Current portion of finance lease liabilities | 1,031,000 | |||||||
Current portion of operating lease liabilities | 1,408,000 | |||||||
Finance lease liabilities | 44,465,000 | |||||||
Operating lease liabilities | $ 6,270,000 |
Note 7 - Business Acquisition_4
Note 7 - Business Acquisitions - Assets Acquired and Liabilities Assumed (Details) (Parentheticals) | Jun. 22, 2023 | Nov. 07, 2022 |
Acquisition of Montauk Brewing Company, Inc. [Member] | Customer Relationships [Member] | ||
Estimated useful life (Year) | 15 years | |
Acquisition of Montauk Brewing Company, Inc. [Member] | Intellectual Property, Trademarks and Brands [Member] | ||
Estimated useful life (Year) | 15 years | |
HEXO [Member] | ||
Estimated useful life (Year) | 15 years |
Note 8 - Convertible Notes Re_3
Note 8 - Convertible Notes Receivable (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Aug. 31, 2021 USD ($) shares | Nov. 30, 2023 USD ($) | Nov. 30, 2023 USD ($) | |
MM Notes [Member] | |||
Financing Receivable, before Allowance for Credit Loss, Total | $ 165,799 | ||
Notes Receivable, SOFR Floor | 2.50% | ||
MM Notes [Member] | Convertible Debt [Member] | |||
Interest Income, Purchased Receivables | $ 0 | $ 0 | |
MM Notes [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Notes Receivable, Measurement Input | 0.035 | ||
MM Notes [Member] | Measurement Input, Price Volatility [Member] | |||
Notes Receivable, Measurement Input | 0.70 | ||
MM Notes [Member] | Measurement Input, Forfeiture Rate [Member] | |||
Notes Receivable, Measurement Input | 0 | ||
MM Notes [Member] | Measurement Input, Expected Dividend Rate [Member] | |||
Notes Receivable, Measurement Input | 0 | ||
MM Notes [Member] | Measurement Input, Probability of Legalization [Member] | Minimum [Member] | |||
Notes Receivable, Measurement Input | 0 | ||
MM Notes [Member] | Measurement Input, Probability of Legalization [Member] | Maximum [Member] | |||
Notes Receivable, Measurement Input | 0.60 | ||
MM Notes [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |||
Notes Receivable, Interest Rate, Basis Spread on Variable Rate | 6% | ||
Superhero Acquisition LP [Member] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 68% | 68% | 68% |
The MM Notes and MM Warrants [Member] | |||
Stock Issued During Period, Shares, Acquisitions (in shares) | shares | 9,817,061 | ||
Stock Issued During Period, Value, Acquisitions | $ 117,804 |
Note 8 - Convertible Notes Re_4
Note 8 - Convertible Notes Receivable - Schedule of Convertible Notes Receivable (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Total convertible notes receivable | $ 74,681 | $ 103,401 |
Deduct - current portion | 0 | 0 |
Total convertible notes receivable, non current portion | 74,681 | 103,401 |
HEXO Convertible Notes Receivable [Member] | ||
Total convertible notes receivable | 0 | 28,720 |
MedMen Convertible Note [Member] | ||
Total convertible notes receivable | $ 74,681 | $ 74,681 |
Note 9 - Long-term Investment_2
Note 9 - Long-term Investments - Schedule of Long-term Investments (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Equity investments measured at fair value | $ 2,534 | $ 2,144 |
Equity investments under measurement alternative | 5,500 | 5,651 |
Total | $ 8,034 | $ 7,795 |
Note 10 - Bank Indebtedness (De
Note 10 - Bank Indebtedness (Details Textual) € in Thousands, $ in Thousands, $ in Thousands | 3 Months Ended | ||
Nov. 30, 2023 USD ($) | Nov. 30, 2023 CAD ($) | Nov. 30, 2023 EUR (€) | |
Four Twenty Corporation [Member] | Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000 | ||
Long-Term Line of Credit, Total | $ 12,000 | ||
Line of Credit [Member] | Prime Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 75% | ||
Line of Credit [Member] | Aphria Inc [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000 | ||
Long-Term Line of Credit, Total | $ 0 | ||
Line of Credit [Member] | CC Pharma GmbH [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | € | € 7,500 | ||
Long-Term Line of Credit, Total | $ 8,181 | € 7,438 | |
Number of Debt Instruments | 2 | 2 | 2 |
Line of Credit [Member] | CC Pharma GmbH [Member] | Euro Short-Term Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||
Line of Credit [Member] | CC Pharma GmbH [Member] | Euro Interbank Offered Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 4% | ||
Operating Line of Credit One [Member] | CC Pharma GmbH [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | € | € 7,000 | ||
Operating Line of Credit Two [Member] | CC Pharma GmbH [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | € | € 500 |
Note 11 - Accounts Payable an_3
Note 11 - Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Trade payables | $ 88,363 | $ 70,819 |
Accrued liabilities | 75,851 | 48,394 |
Litigation expense accrual | 25,338 | 25,000 |
Accrued payroll and employment related taxes | 11,382 | 18,772 |
Income taxes payable | 3,248 | 14,934 |
Accrued interest | 8,147 | 8,102 |
Sales taxes payable | 4,569 | 4,661 |
Total | $ 216,898 | $ 190,682 |
Note 12 - Long-term Debt (Detai
Note 12 - Long-term Debt (Details Textual) - Secured Debt [Member] - USD ($) $ in Millions | 3 Months Ended | |
Nov. 30, 2023 | Aug. 31, 2023 | |
Term Loan Due In March Two Thousand Twenty Four [Member] | Four Twenty Corporation [Member] | ||
Repayments of Long-Term Debt | $ 100 | |
Term Loan Due In June Two Thousand Twenty Eight [Member] | ||
Long-Term Debt, Gross | 70 | |
Debt Instrument, Maturity Date | Jun. 30, 2028 | |
Term Loan Due In June Two Thousand Twenty Eight [Member] | Delayed Draw Term Loan [Member] | ||
Long-Term Debt, Gross | $ 20 |
Note 12 - Long-term Debt - Net
Note 12 - Long-term Debt - Net Carrying Amount of Long-term Debt Instruments (Details) € in Thousands, $ in Thousands | Nov. 30, 2023 USD ($) | Nov. 30, 2023 EUR (€) | May 31, 2023 USD ($) | May 31, 2023 EUR (€) |
Credit Facility Due in November 2025 [Member] | ||||
Carrying amount of long-term debt | $ 42,920 | $ 45,260 | ||
Term Loan Due in July 2033 [Member] | ||||
Carrying amount of long-term debt | 10,726 | 10,959 | ||
Term Loan Due in July 2033 Two [Member] | ||||
Carrying amount of long-term debt | 12,937 | 13,092 | ||
Term Loan Due in August 2026 [Member] | ||||
Carrying amount of long-term debt | 309 | 346 | ||
Mortgage Payable Due in August 2026 [Member] | ||||
Carrying amount of long-term debt | 2,125 | 2,104 | ||
Term Loan Due in December 2023, One [Member] | ||||
Carrying amount of long-term debt | 112 | 803 | ||
Term Loan Due in December 2023, Two [Member] | ||||
Carrying amount of long-term debt | 275 | 755 | ||
Term Loan Due in April 2025 [Member] | ||||
Carrying amount of long-term debt | 634 | 819 | ||
Term Loan Due in August 2028 [Member] | ||||
Carrying amount of long-term debt | € | € 3,563 | € 1,706 | ||
Mortgage Payable Due in October 2030 [Member] | ||||
Carrying amount of long-term debt | 20,512 | 20,863 | ||
Term Loan Due in June 2028 [Member] | ||||
Carrying amount of long-term debt | 89,125 | 65,000 | ||
Long-term Debt, Excluding Convertible Debentures [Member] | ||||
Carrying amount of long-term debt | 183,238 | 161,707 | ||
Unamortized financing fees | (1,146) | (738) | ||
Net carrying amount | 182,092 | 160,969 | ||
Less principal portion included in current liabilities | (12,993) | (24,080) | ||
Total noncurrent portion of long-term debt | $ 169,099 | $ 136,889 |
Note 12 - Long-term Debt - Ne_2
Note 12 - Long-term Debt - Net Carrying Amount of Long-term Debt Instruments (Details) (Parentheticals) € in Thousands, $ in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | ||||||||
Nov. 30, 2023 USD ($) | Nov. 30, 2023 CAD ($) | Nov. 30, 2023 EUR (€) | May 31, 2023 USD ($) | May 31, 2023 CAD ($) | May 31, 2023 EUR (€) | Nov. 30, 2023 CAD ($) | Nov. 30, 2023 EUR (€) | May 31, 2023 CAD ($) | May 31, 2023 EUR (€) | |
Credit Facility Due in November 2025 [Member] | ||||||||||
Face amount | $ 66,000 | $ 66,000 | ||||||||
Term (Year) | 3 years | 3 years | 3 years | 3 years | 3 years | 3 years | ||||
Amortization period (Year) | 10 years | 10 years | 10 years | 10 years | 10 years | 10 years | ||||
Maturity | Nov. 30, 2025 | Nov. 30, 2025 | Nov. 30, 2025 | Nov. 30, 2025 | Nov. 30, 2025 | Nov. 30, 2025 | ||||
Term Loan Due in July 2033 [Member] | ||||||||||
Face amount | 25,000 | 25,000 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Amortization period (Year) | 15 years | 15 years | 15 years | 15 years | 15 years | 15 years | ||||
Maturity | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | ||||
Periodic payment | $ 181 | $ 181 | ||||||||
Term Loan Due in July 2033 [Member] | Prime Rate [Member] | ||||||||||
Variable rate | 1% | 1% | 1% | 1% | 1% | 1% | ||||
Term Loan Due in July 2033 Two [Member] | ||||||||||
Face amount | 25,000 | 25,000 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Amortization period (Year) | 15 years | 15 years | 15 years | 15 years | 15 years | 15 years | ||||
Maturity | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | Jul. 31, 2033 | ||||
Periodic payment | $ 196 | $ 196 | ||||||||
Term Loan Due in July 2033 Two [Member] | Prime Rate [Member] | ||||||||||
Variable rate | 1% | 1% | 1% | 1% | 1% | 1% | ||||
Term Loan Due in August 2026 [Member] | ||||||||||
Face amount | 1,250 | 1,250 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Amortization period (Year) | 10 years | 10 years | 10 years | 10 years | 10 years | 10 years | ||||
Maturity | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | ||||
Periodic payment | $ 12 | $ 12 | ||||||||
Term Loan Due in August 2026 [Member] | Prime Rate [Member] | ||||||||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | ||||
Mortgage Payable Due in August 2026 [Member] | ||||||||||
Face amount | $ 3,750 | $ 3,750 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Amortization period (Year) | 20 years | 20 years | 20 years | 20 years | 20 years | 20 years | ||||
Maturity | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | Aug. 31, 2026 | ||||
Periodic payment | $ 23 | $ 23 | ||||||||
Mortgage Payable Due in August 2026 [Member] | Prime Rate [Member] | ||||||||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | ||||
Term Loan Due in December 2023, One [Member] | ||||||||||
Face amount | € | € 5,000 | € 5,000 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Maturity | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | ||||
Periodic payment | € | € 250 | € 250 | ||||||||
Term Loan Due in December 2023, One [Member] | Euro Interbank Offered Rate [Member] | ||||||||||
Variable rate | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% | ||||
Term Loan Due in December 2023, Two [Member] | ||||||||||
Face amount | € | € 1,200 | € 1,200 | ||||||||
Term (Year) | 1 year | 1 year | 1 year | 1 year | 1 year | 1 year | ||||
Maturity | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | ||||
Periodic payment | € | € 100 | € 100 | ||||||||
Rate | 4.26% | 4.26% | 4.26% | 4.26% | 4.26% | 4.26% | ||||
Term Loan Due in April 2025 [Member] | ||||||||||
Face amount | € | € 1,500 | € 1,500 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Maturity | Apr. 30, 2025 | Apr. 30, 2025 | Apr. 30, 2025 | Apr. 30, 2025 | Apr. 30, 2025 | Apr. 30, 2025 | ||||
Periodic payment | € | € 94 | € 94 | ||||||||
Rate | 2% | 2% | 2% | 2% | 2% | 2% | ||||
Term Loan Due in August 2028 [Member] | ||||||||||
Face amount | $ 3,500 | $ 3,500 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Maturity | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 | ||||
Periodic payment | € | € 52 | € 52 | ||||||||
Rate | 4.59% | 4.59% | 4.59% | 4.59% | 4.59% | 4.59% | ||||
Mortgage Payable Due in October 2030 [Member] | ||||||||||
Face amount | $ 22,635 | $ 22,635 | ||||||||
Term (Year) | 10 years | 10 years | 10 years | 10 years | 10 years | 10 years | ||||
Maturity | Oct. 31, 2030 | Oct. 31, 2030 | Oct. 31, 2030 | Oct. 31, 2030 | Oct. 31, 2030 | Oct. 31, 2030 | ||||
Periodic payment | $ 57 | $ 57 | ||||||||
Mortgage Payable Due in October 2030 [Member] | Euro Interbank Offered Rate [Member] | ||||||||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | ||||
Term Loan Due in June 2028 [Member] | ||||||||||
Face amount | $ 90,000 | $ 90,000 | ||||||||
Term (Year) | 5 years | 5 years | 5 years | 5 years | 5 years | 5 years | ||||
Maturity | Jun. 30, 2028 | Jun. 30, 2028 | Jun. 30, 2028 | Jun. 30, 2028 | Jun. 30, 2028 | Jun. 30, 2028 | ||||
Term Loan Due in June 2028 [Member] | Minimum [Member] | ||||||||||
Periodic payment | $ 875 | $ 875 | ||||||||
Term Loan Due in June 2028 [Member] | Maximum [Member] | ||||||||||
Periodic payment | $ 1,750 | $ 1,750 |
Note 13 - Convertible Debentu_3
Note 13 - Convertible Debentures Payable (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Oct. 02, 2023 USD ($) | Sep. 12, 2023 USD ($) shares | May 30, 2023 USD ($) $ / shares shares | Apr. 30, 2019 USD ($) $ / shares | Nov. 30, 2022 USD ($) | Nov. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | Aug. 31, 2022 USD ($) | Nov. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | May 31, 2023 USD ($) | Jul. 12, 2022 USD ($) | |
Convertible Debt, Current | $ 128,399,000 | $ 128,399,000 | $ 174,378,000 | |||||||||
Repayments of Convertible Debt | 107,330,000 | $ 48,975,000 | ||||||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | 1,672,000 | |||||||||||
Other Nonoperating Gains (Losses) | (967,000) | $ (6,100,000) | (1,182,000) | (6,175,000) | ||||||||
TLRY 27 [Member] | ||||||||||||
Debt Instrument, Face Amount | $ 172,500,000 | $ 172,500,000 | $ 172,500,000 | $ 150,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | 5.20% | 5.20% | 5.20% | ||||||||
Debt Instrument, Convertible, Conversion Ratio | 376.6478 | |||||||||||
Debt Instrument, Convertible, Multiples of Principal Amount | $ 1,000 | |||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 2.66 | |||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130% | |||||||||||
Own-share Lending Arrangement, Shares, Issued (in shares) | shares | 38,500,000 | |||||||||||
Interest Expense, Debt | $ 2,423,000 | $ 4,485,000 | ||||||||||
Accretion Expense | 2,829,000 | 5,624,000 | ||||||||||
HT Investments MA LLC Note [Member] | ||||||||||||
Debt Instrument, Face Amount | $ 0 | $ 0 | $ 50,000,000 | $ 50,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4% | 4% | 4% | 4% | ||||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $ 9,055,000 | |||||||||||
APHA 24 [Member] | ||||||||||||
Debt Instrument, Face Amount | $ 350,000,000 | $ 350,000,000 | $ 350,000,000 | $ 350,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | 5.25% | 5.25% | 5.25% | ||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 11.2 | |||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130% | |||||||||||
Interest Expense, Debt | $ 1,795,000 | 3,393,000 | $ 3,589,000 | 6,786,000 | ||||||||
Debt Instrument, Convertible, Threshold Trading Days | 20 | |||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 | |||||||||||
Debt Instrument, Redemption Price, Including Interest, Percentage | 100% | |||||||||||
Debt Instrument, Increase (Decrease), Net | (7,831,000) | |||||||||||
Debt Instrument, Fair Value Adjustment | $ 6,542,000 | 6,041,000 | ||||||||||
Foreign Exchange Impact | 1,790,000 | 1,790,000 | ||||||||||
Convertible Debt, Current | 136,740,000 | $ 136,740,000 | $ 136,740,000 | |||||||||
Repayments of Convertible Debt | $ 213,260,000 | $ 213,260,000 | ||||||||||
Convertible TLRY 23 [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5% | 5% | ||||||||||
Interest Expense, Debt | $ 1,592,000 | $ 2,373,000 | $ 2,122,000 | $ 3,746,000 | ||||||||
Debt Instrument, Repurchase Amount | $ 20,000,000 | |||||||||||
Stock Issued During Period, Shares, For The Repayment of Convertible Debt (in shares) | shares | 7,000,000 | |||||||||||
Repayments of Convertible Debt | $ 107,330,000 | $ 610,000 | ||||||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | 1,672,000 | |||||||||||
Other Nonoperating Gains (Losses) | $ (1,062,000) |
Note 13 - Convertible Debentu_4
Note 13 - Convertible Debentures Payable - Net Carrying Amount of Convertible Debentures (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Nov. 30, 2023 | Nov. 30, 2023 | Nov. 30, 2022 | May 31, 2023 | May 30, 2023 | Jul. 12, 2022 | Apr. 30, 2019 | |
Deduct - current portion | $ 128,399 | $ 128,399 | $ 174,378 | ||||
Total convertible debentures payable, non current portion | 123,691 | 123,691 | 221,044 | ||||
Debt settlement | (107,330) | $ (48,975) | |||||
HT Investments MA LLC Note [Member] | |||||||
Carrying amount of long-term debt | 0 | 0 | 47,834 | ||||
Carrying amount of long-term debt | 0 | 0 | 47,834 | ||||
Contractual debenture | 0 | 0 | 50,000 | $ 50,000 | |||
Unamortized discount | 0 | 0 | (2,166) | ||||
Convertible debentures | 0 | 0 | 47,834 | ||||
TLRY 27 [Member] | |||||||
Carrying amount of long-term debt | 123,691 | 123,691 | 100,476 | ||||
Carrying amount of long-term debt | 123,691 | 123,691 | 100,476 | ||||
Contractual debenture | 172,500 | 172,500 | 150,000 | $ 172,500 | |||
Unamortized discount | (48,809) | (48,809) | (49,524) | ||||
Convertible debentures | 123,691 | 123,691 | 100,476 | ||||
APHA 24 [Member] | |||||||
Carrying amount of long-term debt | 128,399 | 128,399 | 120,568 | ||||
Carrying amount of long-term debt | 128,399 | 128,399 | 120,568 | ||||
Deduct - current portion | 136,740 | 136,740 | 136,740 | ||||
Contractual debenture | 350,000 | 350,000 | 350,000 | $ 350,000 | |||
Convertible debentures | 128,399 | 128,399 | 120,568 | ||||
Debt settlement | (213,260) | (213,260) | |||||
Fair value adjustment | (8,341) | (16,172) | |||||
TLRY 23 [Member] | |||||||
Carrying amount of long-term debt | 0 | 0 | 126,544 | ||||
Carrying amount of long-term debt | 0 | 0 | 126,544 | ||||
Contractual debenture | 0 | 0 | 277,856 | ||||
Unamortized discount | 0 | 0 | (786) | ||||
Convertible debentures | 0 | 0 | 126,544 | ||||
Debt settlement | 0 | (150,526) | |||||
Convertible Debentures [Member] | |||||||
Carrying amount of long-term debt | 252,090 | 252,090 | 395,422 | ||||
Carrying amount of long-term debt | $ 252,090 | $ 252,090 | $ 395,422 |
Note 13 - Convertible Debentu_5
Note 13 - Convertible Debentures Payable - Net Carrying Amount of Convertible Debentures (Details) (Parentheticals) | Nov. 30, 2023 | May 31, 2023 | May 30, 2023 | Jul. 12, 2022 | Apr. 30, 2019 |
HT Investments MA LLC Note [Member] | |||||
Rate | 4% | 4% | 4% | ||
TLRY 27 [Member] | |||||
Rate | 5.20% | 5.20% | 5.20% | ||
APHA 24 [Member] | |||||
Rate | 5.25% | 5.25% | 5.25% | ||
TLRY 23 [Member] | |||||
Rate | 5% | 5% |
Note 14 - Warrant Liability (De
Note 14 - Warrant Liability (Details Textual) - $ / shares | Nov. 30, 2023 | May 31, 2023 |
Class of Warrant or Right, Outstanding (in shares) | 6,209,000 | 6,209,000 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 5.95 | $ 5.95 |
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | 1 |
Percentage of Daily Cash Penalty | 1% | |
Fair Value, Inputs, Level 3 [Member] | ||
Estimated Fair Value of Warrant Liability Per Warrant (in dollars per share) | $ 0.607 | |
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.044 | |
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.50 | |
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.3 | |
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Conversion Price [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.61 | |
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Share Price [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.81 | |
Maximum [Member] | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.61 |
Note 15 - Stockholders' Equit_2
Note 15 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Nov. 30, 2022 | Jul. 12, 2022 | Nov. 30, 2023 | Aug. 31, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | May 31, 2023 | |
Common Stock, Shares Authorized (in shares) | 1,198,000,000 | 1,198,000,000 | 1,198,000,000 | ||||||
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | ||||||
Common Stock, Shares, Issued (in shares) | 732,907,552 | 732,907,552 | 656,655,455 | ||||||
Preferred Stock, Shares Issued (in shares) | 0 | 0 | 0 | ||||||
Stock Issued During Period, Value, Settlement of Financing Liability | $ 8,146 | $ 6,474 | $ 5,064 | ||||||
Repayments of Convertible Debt | $ 107,330 | $ 48,975 | |||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares) | 3,921,665 | ||||||||
Share-Based Payment Arrangement, Expense | $ 8,201 | $ 10,943 | $ 16,458 | $ 20,136 | |||||
Common Stock, Shares, Outstanding (in shares) | 732,907,552 | 732,907,552 | 656,655,455 | ||||||
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 | 0 | ||||||
Time-based Restricted Stock Units [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 6,004,995 | 11,559,549 | |||||||
Performance-based Restricted Stock Units [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,634,744 | 7,566,146 | 7,566,146 | ||||||
HTI Convertible Note Payable [Member] | |||||||||
Stock Issued During Period, Shares, Settlement of Convertible Securities (in shares) | 17,148,541 | ||||||||
Repayments of Convertible Debt | $ 50,000 | ||||||||
HT Investments MA LLC Note [Member] | Derivative Settlement [Member] | |||||||||
Stock Issued During Period, Shares, For Derivative Settlement (Downside Protection) (in shares) | 1,032,616 | ||||||||
Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | |||||||||
Stock Issued During Period, Shares, Legal Settlement (in shares) | 1,573,152 | ||||||||
TLRY 23 [Member] | |||||||||
Repayments of Convertible Debt | $ 0 | $ 150,526 | |||||||
Stock Issued During Period, Shares, For The Repayment of Convertible Debt (in shares) | 7,000,000 | ||||||||
Convertible Debt Instrument, Repurchase Amount | $ 20,000 | $ 20,000 | |||||||
Aphria Diamond [Member] | |||||||||
Stock Issued During Period, Shares, Settlement of Dividend Payable (in shares) | 5,004,735 | ||||||||
Stock Issued During Period, Value, Settlement of Dividend Payable | $ 8,146 | ||||||||
HEXO [Member] | |||||||||
Stock Issued During Period, Shares, Purchase of Assets (in shares) | 39,705,962 | ||||||||
Stock Issued During Period, Shares, Settlement of Financing Liability (in shares) | 865,426 | ||||||||
Stock Issued During Period, Value, Settlement of Financing Liability | $ 1,500 |
Note 15 - Stockholders' Equit_3
Note 15 - Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Stock-based compensation expense | $ 8,201 | $ 10,943 | $ 16,458 | $ 20,136 |
Share-Based Payment Arrangement, Option [Member] | ||||
Stock-based compensation expense | 0 | 20 | 0 | 624 |
Restricted Stock Units (RSUs) [Member] | ||||
Stock-based compensation expense | $ 8,201 | $ 10,923 | $ 16,458 | $ 19,512 |
Note 16 - Accumulated Other C_3
Note 16 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Nov. 30, 2023 | Aug. 31, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Balance | $ 3,401,556 | $ 3,329,943 | $ 4,563,182 | $ 4,441,366 | $ 3,329,943 | $ 4,441,366 |
Other comprehensive loss | 5,203 | (42,240) | 8,412 | (105,057) | ||
Balance | 3,393,353 | 3,401,556 | 4,483,146 | 4,563,182 | 3,393,353 | 4,483,146 |
Other comprehensive (loss) income | 5,203 | (42,240) | 8,412 | (105,057) | ||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||||
Balance | (43,561) | (46,610) | (2,030) | 54,413 | (46,610) | 54,413 |
Other comprehensive loss | 5,194 | 3,049 | (24,080) | (56,443) | ||
Balance | (38,367) | (43,561) | (26,110) | (2,030) | (38,367) | (26,110) |
Other comprehensive (loss) income | 5,194 | 3,049 | (24,080) | (56,443) | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||||
Balance | 0 | 0 | (77,702) | (75,177) | 0 | (75,177) |
Other comprehensive loss | 0 | 0 | (17,643) | (2,525) | ||
Balance | 0 | 0 | (95,345) | (77,702) | 0 | (95,345) |
Other comprehensive (loss) income | 0 | 0 | (17,643) | (2,525) | ||
Unrealized Loss on Available for Sale Debt Securities [Member] | ||||||
Balance | (43,561) | (46,610) | (79,732) | (20,764) | (46,610) | (20,764) |
Other comprehensive loss | 5,194 | 3,049 | (41,723) | (58,968) | ||
Balance | (38,367) | (43,561) | (121,455) | (79,732) | $ (38,367) | $ (121,455) |
Other comprehensive (loss) income | $ 5,194 | $ 3,049 | $ (41,723) | $ (58,968) |
Note 17 - Non-controlling Int_3
Note 17 - Non-controlling Interests (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Aug. 31, 2021 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ 2,834 | $ 7,311 | $ 18,656 | $ 11,150 | |
Subsidiaries [Member] | |||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ 12,102 | 5,094 | |||
Subsidiaries [Member] | Wholesale Cannabis Supply Agreement [Member] | |||||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ (15,000) | ||||
Superhero Acquisition LP [Member] | |||||
Noncontrolling Interest, Ownership Percentage by Parent | 68% | 68% | 68% | ||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ 0 | (1,381) | |||
CC Pharma Nordic ApS [Member] | |||||
Noncontrolling Interest, Ownership Percentage by Parent | 75% | 75% | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ (21) | (91) | |||
Aphria Diamond [Member] | |||||
Noncontrolling Interest, Ownership Percentage by Parent | 51% | 51% | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ 12,093 | 12,156 | |||
ColCanna S.A.S. [Member] | |||||
Noncontrolling Interest, Ownership Percentage by Parent | 90% | 90% | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $ 30 | $ (5,590) |
Note 17 - Non-controlling Int_4
Note 17 - Non-controlling Interests - Summary of Balance Sheet Information (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Current assets | $ 642,027 | $ 773,029 |
Current liabilities | (394,986) | (432,979) |
Superhero Acquisition LP [Member] | ||
Current assets | 0 | 0 |
Non-current assets | 74,681 | 74,681 |
Current liabilities | 0 | 0 |
Non-current liabilities | 0 | 0 |
Net assets | 74,681 | 74,681 |
CC Pharma Nordic ApS [Member] | ||
Current assets | 73 | 114 |
Non-current assets | 0 | 0 |
Current liabilities | (14) | (1,166) |
Non-current liabilities | (1,195) | 0 |
Net assets | (1,136) | (1,052) |
Aphria Diamond [Member] | ||
Current assets | 131,023 | 127,689 |
Non-current assets | 131,726 | 135,085 |
Current liabilities | (129,105) | (142,554) |
Non-current liabilities | (49,833) | (53,197) |
Net assets | 83,811 | 67,023 |
ColCanna S.A.S. [Member] | ||
Current assets | 196 | 224 |
Non-current assets | 3,580 | 3,307 |
Current liabilities | (6,613) | (6,697) |
Non-current liabilities | (1,460) | (1,428) |
Net assets | (4,297) | (4,594) |
Subsidiaries [Member] | ||
Current assets | 131,292 | 128,027 |
Non-current assets | 209,987 | 213,073 |
Current liabilities | (135,732) | (150,417) |
Non-current liabilities | (52,488) | (54,625) |
Net assets | $ 153,059 | $ 136,058 |
Note 17 - Non-controlling Int_5
Note 17 - Non-controlling Interests - Summary of Income Statement Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Nov. 30, 2023 | Aug. 31, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Net (loss) income | $ (46,183) | $ (61,635) | $ (102,046) | $ (127,429) | ||
Other comprehensive (loss) income | 5,203 | (42,240) | 8,412 | (105,057) | ||
Net comprehensive (loss) income | (40,980) | $ (52,654) | (103,875) | $ (128,611) | (93,634) | (232,486) |
Comprehensive (loss) income attributable to NCI | $ 2,834 | $ 7,311 | 18,656 | 11,150 | ||
Subsidiaries [Member] | ||||||
Revenue | 57,078 | 65,545 | ||||
Total expenses | 32,338 | 88,769 | ||||
Net (loss) income | 24,740 | (23,224) | ||||
Other comprehensive (loss) income | 152 | (12,548) | ||||
Net comprehensive (loss) income | 24,892 | (35,772) | ||||
Comprehensive (loss) income attributable to NCI | 12,102 | 5,094 | ||||
Additional income attributable to NCI | 6,554 | 6,056 | ||||
Net comprehensive (loss) income attributable to NCI | 18,656 | 11,150 | ||||
Superhero Acquisition LP [Member] | ||||||
Revenue | 0 | 0 | ||||
Total expenses | 0 | (7,006) | ||||
Net (loss) income | 0 | 7,006 | ||||
Other comprehensive (loss) income | 0 | (11,321) | ||||
Net comprehensive (loss) income | $ 0 | $ (4,315) | ||||
Non-controlling interest % | 32% | 32% | 32% | 32% | ||
Comprehensive (loss) income attributable to NCI | $ 0 | $ (1,381) | ||||
Additional income attributable to NCI | 0 | 0 | ||||
Net comprehensive (loss) income attributable to NCI | 0 | (1,381) | ||||
CC Pharma Nordic ApS [Member] | ||||||
Revenue | 0 | 108 | ||||
Total expenses | 54 | 471 | ||||
Net (loss) income | (54) | (363) | ||||
Other comprehensive (loss) income | (30) | 0 | ||||
Net comprehensive (loss) income | $ (84) | $ (363) | ||||
Non-controlling interest % | 25% | 25% | 25% | 25% | ||
Comprehensive (loss) income attributable to NCI | $ (21) | $ (91) | ||||
Additional income attributable to NCI | 0 | 0 | ||||
Net comprehensive (loss) income attributable to NCI | (21) | (91) | ||||
Aphria Diamond [Member] | ||||||
Revenue | 57,078 | 65,437 | ||||
Total expenses | 32,803 | 39,039 | ||||
Net (loss) income | 24,275 | 26,398 | ||||
Other comprehensive (loss) income | 404 | (1,590) | ||||
Net comprehensive (loss) income | $ 24,679 | $ 24,808 | ||||
Non-controlling interest % | 49% | 49% | 49% | 49% | ||
Comprehensive (loss) income attributable to NCI | $ 12,093 | $ 12,156 | ||||
Additional income attributable to NCI | 6,554 | 6,056 | ||||
Net comprehensive (loss) income attributable to NCI | 18,647 | 18,212 | ||||
ColCanna S.A.S. [Member] | ||||||
Revenue | 0 | 0 | ||||
Total expenses | (519) | 56,265 | ||||
Net (loss) income | 519 | (56,265) | ||||
Other comprehensive (loss) income | (222) | 363 | ||||
Net comprehensive (loss) income | $ 297 | $ (55,902) | ||||
Non-controlling interest % | 10% | 10% | 10% | 10% | ||
Comprehensive (loss) income attributable to NCI | $ 30 | $ (5,590) | ||||
Additional income attributable to NCI | 0 | 0 | ||||
Net comprehensive (loss) income attributable to NCI | $ 30 | $ (5,590) |
Note 18 - Income Taxes (Details
Note 18 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Income Tax Expense (Benefit) | $ 3,380 | $ 11,713 | $ (3,884) | $ 4,502 |
Note 19 - Commitments and Con_3
Note 19 - Commitments and Contingencies (Details Textual) $ in Thousands, $ in Thousands | Jul. 31, 2022 CAD ($) shares | Nov. 05, 2021 USD ($) | Feb. 21, 2020 CAD ($) | Nov. 30, 2023 USD ($) shares | May 31, 2023 USD ($) shares | Feb. 28, 2023 CAD ($) |
Common Stock, Shares, Issued (in shares) | shares | 732,907,552 | 656,655,455 | ||||
Loss Contingency Accrual | $ 25,338 | $ 25,000 | ||||
HEXO Acquisition [Member] | ||||||
Loss Contingency Accrual | 12,253 | |||||
Craft Beverage Business Acquisition [Member] | ||||||
Loss Contingency Accrual | $ 0 | |||||
Tilray and High Park vs. 420 Investments Unpaid Debt Collection [Member] | ||||||
Debt Instrument, Face Amount | $ 7,000 | |||||
Tilray Brands Inc Docklight Litigation Settlement [Member] | ||||||
Litigation Settlement, Amount Awarded to Other Party | $ 3,000 | |||||
Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | ||||||
Common Stock, Shares, Issued (in shares) | shares | 1,573,152 | |||||
Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | HEXO Failure to Pay [Member] | ||||||
Litigation Settlement, Amount Awarded to Other Party | $ 9,800 | |||||
Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | Cash Payment to MediPharm [Member] | ||||||
Litigation Settlement, Amount Awarded to Other Party | 3,000 | |||||
Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | Purchase of Tilray Cannabis Products [Member] | ||||||
Litigation Settlement, Amount Awarded to Other Party | 1,000 | |||||
Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member] | Payment to Settle litigation [Member] | ||||||
Litigation Settlement, Amount Awarded to Other Party | $ 210 | |||||
Pending Litigation [Member] | The 420 Investments Ltd. Litigation [Member] | Damages [Member] | ||||||
Loss Contingency, Damages Sought, Value | $ 110,000 | |||||
Pending Litigation [Member] | The 420 Investments Ltd. Litigation [Member] | Aggravated Damages [Member] | ||||||
Loss Contingency, Damages Sought, Value | $ 20,000 |
Note 19 - Commitments and Con_4
Note 19 - Commitments and Contingencies - Schedule of Commitments (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Total | $ 550,272 | |
Total, 2024 | 184,139 | |
Total, 2025 | 67,356 | |
Total, 2026 | 10,953 | |
Total, 2027 | 182,832 | |
Total, thereafter | 104,992 | |
Material Purchase Obligations [Member] | ||
Debt instrument, 2026 | 2,000 | |
Debt instrument, 2027 | 0 | |
Purchase obligations, total | 56,972 | |
Purchase obligations, 2024 | 33,584 | |
Purchase obligations, 2025 | 21,388 | |
Purchase obligations, thereafter | 0 | |
Capital Addition Purchase Commitments [Member] | ||
Debt instrument, 2026 | 0 | |
Debt instrument, 2027 | 0 | |
Purchase obligations, total | 822 | |
Purchase obligations, 2024 | 822 | |
Purchase obligations, 2025 | 0 | |
Purchase obligations, thereafter | 0 | |
Long-term Debt, Excluding Convertible Debentures [Member] | ||
Debt instrument | 183,238 | $ 161,707 |
Debt instrument, 2024 | 12,993 | |
Debt instrument, 2025 | 45,968 | |
Debt instrument, 2026 | 8,953 | |
Debt instrument, 2027 | 10,332 | |
Debt instrument, thereafter | 104,992 | |
Convertible Debt [Member] | ||
Debt instrument | 309,240 | |
Convertible Debt Securities [Member] | ||
Debt instrument, 2024 | 136,740 | |
Debt instrument, 2025 | 0 | |
Debt instrument, thereafter | 0 | |
Debt instrument, 2026 | 0 | |
Debt instrument, 2027 | $ 172,500 |
Note 20 - Net Revenue (Details
Note 20 - Net Revenue (Details Textual) | 6 Months Ended |
Nov. 30, 2023 | |
Number of Operating Segments | 4 |
Note 20 - Net Revenue - Compone
Note 20 - Net Revenue - Components of Net Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Net revenue | $ 193,771 | $ 144,136 | $ 370,720 | $ 297,347 |
Cannabis Segment [Member] | ||||
Revenue | 94,556 | 66,696 | 191,440 | 142,385 |
Excise taxes | (27,442) | (16,798) | (53,993) | (33,917) |
Net revenue | 67,114 | 49,898 | 137,447 | 108,468 |
Beverage Alcohol Business [Member] | ||||
Revenue | 49,651 | 23,405 | 74,990 | 45,268 |
Excise taxes | (3,146) | (2,010) | (4,323) | (3,219) |
Net revenue | 46,505 | 21,395 | 70,667 | 42,049 |
Distribution Business [Member] | ||||
Net revenue | 67,223 | 60,188 | 136,380 | 120,773 |
Wellness Business [Member] | ||||
Net revenue | $ 12,929 | $ 12,655 | $ 26,226 | $ 26,057 |
Note 21 - Cost of Goods Sold -
Note 21 - Cost of Goods Sold - Components of Cost of Goods Sold (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Cost of goods sold | $ 146,362 | $ 101,254 | $ 279,115 | $ 205,851 |
Cannabis Segment [Member] | ||||
Cost of goods sold | 46,472 | 28,577 | 96,989 | 57,438 |
Beverage Alcohol Business [Member] | ||||
Cost of goods sold | 30,513 | 11,420 | 41,779 | 22,269 |
Distribution Business [Member] | ||||
Cost of goods sold | 60,147 | 52,495 | 121,615 | 107,479 |
Wellness Business [Member] | ||||
Cost of goods sold | $ 9,230 | $ 8,762 | $ 18,732 | $ 18,665 |
Note 21 - General and Administr
Note 21 - General and Administrative Expenses - Components of General and Administrative Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Executive compensation | $ 3,324 | $ 3,050 | $ 6,985 | $ 6,605 |
Office and general | 8,065 | 7,383 | 16,233 | 13,212 |
Salaries and wages | 15,795 | 10,151 | 28,909 | 24,786 |
Share-Based Payment Arrangement, Expense | 8,201 | 10,943 | 16,458 | 20,136 |
Insurance | 2,499 | 2,726 | 6,348 | 5,429 |
Professional fees | 2,503 | 1,730 | 4,002 | 4,220 |
Loss (gain) on sale of capital assets | (23) | (64) | (20) | 13 |
Travel and accommodation | 1,374 | 1,219 | 2,481 | 2,380 |
Rent | 1,575 | 740 | 2,433 | 1,605 |
Total | $ 43,313 | $ 37,878 | $ 83,829 | $ 78,386 |
Note 23 - Restructuring Charg_2
Note 23 - Restructuring Charges (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Restructuring Costs | $ 2,655 | $ 8,064 | $ 3,570 | $ 8,064 |
Cost Optimization [Member] | Distribution Business [Member] | ||||
Restructuring Costs | $ 8,064 | 8,064 | ||
Restructuring and Related Cost, Expected Cost | $ 3 | 3 | ||
Employee Severance [Member] | Cost Reduction [Member] | ||||
Restructuring Costs | 281 | |||
Employee Severance [Member] | HEXO Acquisition [Member] | ||||
Restructuring Costs | 1,221 | |||
Facility Closing [Member] | CANADA | ||||
Restructuring and Related Cost, Incurred Cost | 1,512,000 | |||
Facility Closing [Member] | Distribution Business [Member] | ||||
Restructuring and Related Cost, Incurred Cost | 2,195,000 | |||
Facility Closing [Member] | Cost Optimization [Member] | Distribution Business [Member] | ||||
Restructuring Costs | 1,599 | |||
Facility Closing [Member] | Truss Beverage Company [Member] | ||||
Restructuring Costs | 1,586 | |||
One-time Termination Benefits [Member] | Cost Optimization [Member] | Distribution Business [Member] | ||||
Restructuring Costs | $ 482 | |||
Contract Termination [Member] | Cost Optimization [Member] | Distribution Business [Member] | ||||
Restructuring Costs | $ 2,758 |
Note 24 - Non-operating Incom_3
Note 24 - Non-operating Income (Expense) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Other Nonoperating Gains (Losses) | $ (967) | $ (6,100) | $ (1,182) | $ (6,175) |
Note 24 - Non-operating (Expens
Note 24 - Non-operating (Expense) Income - Components of Non-operating Income (Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Change in fair value of convertible debenture payable | $ (3,894) | $ (12,698) | $ (6,041) | $ (20,582) |
Change in fair value of warrant liability | 6,247 | 37 | (1,951) | 1,585 |
Foreign exchange loss (gain) | (1,024) | 907 | 5,243 | (24,666) |
Loss on long-term investments | 459 | (596) | 350 | (1,604) |
Other non-operating (losses) gains, net | (967) | (6,100) | (1,182) | (6,175) |
Total | $ 821 | $ (18,450) | $ (3,581) | $ (51,442) |
Note 25 - Fair Value Measurem_3
Note 25 - Fair Value Measurements (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Nov. 30, 2023 USD ($) | Nov. 30, 2023 USD ($) | May 31, 2023 USD ($) | |
SweetWater, Montauk, and Truss [Member] | Contingent Consideration [Member] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | $ (13,218) | $ (10,584) | |
SweetWater, Montauk, and Truss [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | |||
Business Combination, Contingent Consideration, Liability, Measurement Input | 0.05 | 0.05 | |
SweetWater, Montauk, and Truss [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | |||
Business Combination, Contingent Consideration, Liability, Measurement Input | 0.114 | 0.114 | |
SweetWater, Montauk, and Truss [Member] | Measurement Input, Probability of Achievement [Member] | Minimum [Member] | |||
Business Combination, Contingent Consideration, Liability, Measurement Input | 0.25 | 0.25 | |
SweetWater, Montauk, and Truss [Member] | Measurement Input, Probability of Achievement [Member] | Maximum [Member] | |||
Business Combination, Contingent Consideration, Liability, Measurement Input | 90 | 90 | |
Acquisition of Montauk Brewing Company, Inc. [Member] | Contingent Consideration [Member] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | $ 2,411 | ||
Truss Beverage Company [Member] | Contingent Consideration [Member] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | 4,181 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) From Foreign Exchange | 223 | ||
Long-term Debt, Excluding Convertible Debentures [Member] | |||
Long-Term Debt, Percentage Bearing Fixed Interest, Amount | 4,472 | $ 4,472 | $ 3,280 |
Convertible Debt [Member] | |||
Convertible Debt | $ 309,240 | $ 309,240 | $ 464,070 |
Note 25 - Fair Value Measurem_4
Note 25 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Restricted cash | $ 1,576 | $ 0 |
Equity investments measured at fair value | 2,534 | 2,144 |
Contingent consideration | (7,704) | (16,218) |
Fair Value, Recurring [Member] | ||
Cash and cash equivalents | 143,373 | 206,632 |
Restricted cash | 1,576 | 0 |
Marketable securities | 116,418 | 241,897 |
Convertible notes receivable | 74,681 | 103,401 |
Equity investments measured at fair value | 5,500 | 7,795 |
Warrant liability | (3,768) | (1,817) |
Contingent consideration | (20,704) | (27,107) |
Total recurring fair value measurements | 188,677 | 410,233 |
Fair Value, Recurring [Member] | APHA 24 [Member] | ||
APHA 24 Convertible debenture | (128,399) | (120,568) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 143,373 | 206,632 |
Restricted cash | 1,576 | 0 |
Marketable securities | 116,418 | 241,897 |
Convertible notes receivable | 0 | 0 |
Equity investments measured at fair value | 0 | 1,056 |
Warrant liability | 0 | 0 |
Contingent consideration | 0 | 0 |
Total recurring fair value measurements | 261,367 | 449,585 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | APHA 24 [Member] | ||
APHA 24 Convertible debenture | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | |
Marketable securities | 0 | 0 |
Convertible notes receivable | 0 | 0 |
Equity investments measured at fair value | 0 | 1,088 |
Warrant liability | 0 | 0 |
Contingent consideration | 0 | 0 |
Total recurring fair value measurements | 0 | 1,088 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | APHA 24 [Member] | ||
APHA 24 Convertible debenture | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | |
Marketable securities | 0 | 0 |
Convertible notes receivable | 74,681 | 103,401 |
Equity investments measured at fair value | 5,500 | 5,651 |
Warrant liability | (3,768) | (1,817) |
Contingent consideration | (20,704) | (27,107) |
Total recurring fair value measurements | (72,690) | (40,440) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | APHA 24 [Member] | ||
APHA 24 Convertible debenture | $ (128,399) | $ (120,568) |
Note 25 - Financial Risk Manage
Note 25 - Financial Risk Management and Financial Instruments - Reconciliation of Level 3 Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 6 Months Ended |
Nov. 30, 2023 USD ($) | |
Equity Investments [Member] | |
Balance | $ 5,651 |
Additions | 0 |
Disposals | 0 |
Unrealized gain (loss) on fair value | (151) |
Impairments | |
Balance | 5,500 |
Warrant Liability [Member] | |
Balance | (1,817) |
Additions | 0 |
Disposals | 0 |
Unrealized gain (loss) on fair value | (1,951) |
Impairments | 0 |
Balance | (3,768) |
Contingent Consideration [Member] | |
Balance | (27,107) |
Additions | (4,181) |
Disposals | 0 |
Unrealized gain (loss) on fair value | 10,584 |
Impairments | 0 |
Balance | (20,704) |
Long-Term Debt [Member] | APHA 24 [Member] | |
Balance | (120,568) |
Additions | 0 |
Disposals | 0 |
Unrealized gain (loss) on fair value | (7,831) |
Impairments | 0 |
Balance | (128,399) |
Notes Receivable [Member] | |
Balance | 103,401 |
Additions | 0 |
Disposals | (28,720) |
Unrealized gain (loss) on fair value | 0 |
Impairments | 0 |
Balance | $ 74,681 |
Note 25 - Financial Risk Mana_2
Note 25 - Financial Risk Management and Financial Instruments - Inputs Used to Recognize Unrealized Gain (Loss) on Fair Value (Details) | Nov. 30, 2023 yr |
Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | |
Debt instrument, measurement input | 0.50 |
Warrant liability, measurement input | 0.50 |
Valuation Technique, Option Pricing Model [Member] | Measurement Input, Expected Term [Member] | |
Debt instrument, measurement input | 0.5 |
Warrant liability, measurement input | 1.3 |
Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | |
Contingent consideration, measurement input | 0.05 |
Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | |
Contingent consideration, measurement input | 0.11 |
Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Conversion Rate [Member] | Minimum [Member] | |
Contingent consideration, measurement input | 0.25 |
Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Conversion Rate [Member] | Maximum [Member] | |
Contingent consideration, measurement input | 0.90 |
Note 26 - Segment Reporting (De
Note 26 - Segment Reporting (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | Nov. 30, 2023 USD ($) | Nov. 30, 2022 USD ($) | |
Number of Reportable Segments | 4 | |||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Major Customers [Member] | ||||
Number Of Major Customers | 0 | 0 | 0 | 0 |
Advisory Services Agreement With HEXO [Member] | Advisory Services Revenue [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | $ 7,882 | $ 1,500 | $ 15,635 |
Note 26 - Segment Reporting - S
Note 26 - Segment Reporting - Schedule of Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Net revenue | $ 193,771 | $ 144,136 | $ 370,720 | $ 297,347 |
Cost of goods sold | 146,362 | 101,254 | 279,115 | 205,851 |
Gross profit | 47,409 | 42,882 | 91,605 | 91,496 |
Cannabis Segment [Member] | ||||
Net revenue | 67,114 | 49,898 | 137,447 | 108,468 |
Cost of goods sold | 46,472 | 28,577 | 96,989 | 57,438 |
Gross profit | 20,642 | 21,321 | 40,458 | 51,030 |
Revenue | 94,556 | 66,696 | 191,440 | 142,385 |
Excise taxes | (27,442) | (16,798) | (53,993) | (33,917) |
Cannabis Segment [Member] | Medical Cannabis Products [Member] | ||||
Revenue | 6,288 | 6,365 | 12,430 | 12,885 |
Cannabis Segment [Member] | Adult-use Cannabis Products [Member] | ||||
Revenue | 72,048 | 52,390 | 143,243 | 110,745 |
Cannabis Segment [Member] | Wholesale Cannabis Products [Member] | ||||
Revenue | 4,289 | 236 | 9,584 | 628 |
Cannabis Segment [Member] | International Cannabis Products [Member] | ||||
Revenue | 11,931 | 7,705 | 26,183 | 18,127 |
Distribution Business [Member] | ||||
Net revenue | 67,223 | 60,188 | 136,380 | 120,773 |
Cost of goods sold | 60,147 | 52,495 | 121,615 | 107,479 |
Gross profit | 7,076 | 7,693 | 14,765 | 13,294 |
Beverage Alcohol Business [Member] | ||||
Net revenue | 46,505 | 21,395 | 70,667 | 42,049 |
Cost of goods sold | 30,513 | 11,420 | 41,779 | 22,269 |
Gross profit | 15,992 | 9,975 | 28,888 | 19,780 |
Revenue | 49,651 | 23,405 | 74,990 | 45,268 |
Excise taxes | (3,146) | (2,010) | (4,323) | (3,219) |
Wellness Business [Member] | ||||
Net revenue | 12,929 | 12,655 | 26,226 | 26,057 |
Cost of goods sold | 9,230 | 8,762 | 18,732 | 18,665 |
Gross profit | $ 3,699 | $ 3,893 | $ 7,494 | $ 7,392 |
Note 26 - Segment Reporting - G
Note 26 - Segment Reporting - Geographic Net Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | |
Net revenue | $ 193,771 | $ 144,136 | $ 370,720 | $ 297,347 |
North America [Member] | ||||
Net revenue | 114,619 | 76,211 | 208,140 | 158,403 |
EMEA [Member] | ||||
Net revenue | 75,292 | 62,715 | 154,996 | 128,756 |
Rest of World [Member] | ||||
Net revenue | $ 3,860 | $ 5,210 | $ 7,584 | $ 10,188 |
Note 26 - Segment Reporting -_2
Note 26 - Segment Reporting - Geographic Capital Assets (Details) - USD ($) $ in Thousands | Nov. 30, 2023 | May 31, 2023 |
Capital assets | $ 615,087 | $ 429,667 |
North America [Member] | ||
Capital assets | 506,151 | 319,173 |
EMEA [Member] | ||
Capital assets | 105,325 | 107,131 |
Rest of World [Member] | ||
Capital assets | $ 3,611 | $ 3,363 |
Note 27 - Subsequent Events (De
Note 27 - Subsequent Events (Details Textual) - Subsequent Event [Member] - APHA 24 [Member] $ in Millions | Dec. 21, 2023 USD ($) shares |
Debt Instrument, Repurchase Amount | $ | $ 18.5 |
Stock Issued During Period, Shares, To Repurchase Convertible Debt (in shares) | shares | 9,601,538 |