MedMen Enterprises, Inc. (MMNFF) Financial Statements (2024 and earlier)

Company Profile

Business Address 10115 JEFFERSON BOULEVARD
CULVER CITY, CA 90232
State of Incorp. BC
Fiscal Year End June 30
Industry (SIC) 599 - Retail Stores, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2023
Q3
12/31/2022
Q2
9/30/2022
Q1
6/30/2022
Q4
3/31/2022
Q3
12/31/2021
Q2
9/30/2021
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15,60521,09710,79614,41147,72478,223
Cash and cash equivalents15,60521,09710,79614,41147,72478,223
Restricted cash and investments      
Inventory, net of allowances, customer advances and progress billings13,6759,11810,01111,93420,73519,400
Inventory13,6759,11810,01111,93420,73519,400
Prepaid expense   2,248   
Disposal group, including discontinued operation      
Other current assets10,4047,4049,9918,5818,9397,588
Other undisclosed current assets60,52761,061128,451136,03757,41760,295
Total current assets:100,21198,680161,496170,963134,815165,506
Noncurrent Assets
Operating lease, right-of-use asset34,27644,46147,64953,56469,35474,917
Property, plant and equipment 57,64559,96664,10891,738134,563135,028
Intangible assets, net (including goodwill)42,46343,86735,746104,861140,478144,306
Goodwill9,8109,810 32,93932,90032,900
Intangible assets, net (excluding goodwill)32,65334,05735,74671,922107,578111,406
Other noncurrent assets3,8794,1584,41410,85411,66212,136
Other undisclosed noncurrent assets  9,810   
Total noncurrent assets:138,264152,452161,727261,017356,057366,386
TOTAL ASSETS:238,475251,132323,224431,980490,872531,893
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:42,92635,35538,90637,11054,25057,961
Taxes payable74,67077,16380,433
Accrued liabilities67,473    400
Other undisclosed accounts payable and accrued liabilities(24,547)35,35538,906(37,560)(22,913)(22,872)
Debt70,58970,44597,00497,072114,544110,837
Derivative instruments and hedges, liabilities3,6437,5556,75010,87221,22435,330
Disposal group, including discontinued operation24,52526,19686,595133,58235,91938,488
Due to related parties   1,4771,4771,477
Other liabilities16,59217,121 12,16312,30011,163
Other undisclosed current liabilities79,37076,90997,16382,83286,31089,983
Total current liabilities:237,644233,581326,417375,108326,024345,240
Noncurrent Liabilities
Long-term debt and lease obligation27,28974,186242,18085,261124,823127,434
Long-term debt, excluding current maturities   171,535   
Finance lease, liability27,28926,90626,55330,20329,82529,425
Liabilities, other than long-term debt43,5712,9883,0823,2243,3663,507
Disposal group, including discontinued operation, liabilities      
Other liabilities2,8462,9883,0823,2243,3663,507
Operating lease, liability40,72547,28044,09255,05894,99898,009
Other undisclosed noncurrent liabilities258,763253,94070,057215,529255,988256,752
Total noncurrent liabilities:329,623331,114315,319304,014384,177387,694
Total liabilities:567,267564,695641,736679,122710,201732,933
Equity
Equity, attributable to parent146,438160,531151,808205,573234,197251,129
Additional paid in capital1,060,2371,058,1451,057,2291,026,5411,025,4051,023,317
Accumulated deficit(913,799)(897,614)(905,421)(820,968)(791,208)(772,188)
Equity, attributable to noncontrolling interest(475,230)(474,095)(470,321)(452,715)(453,526)(452,170)
Other undisclosed equity    (1)  
Total equity:(328,792)(313,564)(318,513)(247,143)(219,329)(201,041)
Other undisclosed liabilities and equity    1  
TOTAL LIABILITIES AND EQUITY:238,475251,132323,224431,980490,872531,893

Income Statement (P&L) ($ in thousands)

3/31/2023
Q3
12/31/2022
Q2
9/30/2022
Q1
6/30/2022
Q4
3/31/2022
Q3
12/31/2021
Q2
9/30/2021
Q1
Revenues29,55430,04433,31035,24939,12439,806
Gain on disposition of assets for financial service operations 31,720     
Cost of revenue(14,501)(15,188)(16,056)(18,041)(19,882)(22,335)
Gross profit:15,05314,85617,25317,20819,24217,471
Operating expenses(21,788)(20,481)(120,650)(37,298)(44,396)(46,492)
Operating loss:(6,735)(5,625)(103,397)(20,090)(25,154)(29,022)
Nonoperating income (expense)7,29012,4402,78383(1,976)5,449
Investment income, nonoperating(3,940)806    
Gain (loss) on contract termination    (4,430)174 
Other nonoperating income (expense)    (621)(2,150)5,449
Interest and debt expense  (41)  (10,234)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   14,38053712,264(20,357)
Income (loss) from continuing operations before equity method investments, income taxes:5556,815(86,275)(19,470)(14,866)(54,163)
Other undisclosed income (loss) from continuing operations before income taxes(14,581)(24,880)(11,555)1(8,138)19,692
Loss from continuing operations before income taxes:(14,025)(18,065)(97,830)(19,469)(23,004)(34,471)
Income tax expense (benefit)(1,061)(2,194)21,451(1)8,138(19,692)
Loss from continuing operations:(15,086)(20,259)(76,379)(19,470)(14,866)(54,163)
Income (loss) before gain (loss) on sale of properties:11,106(78,729)(24,468)(16,094)(55,405)
Income (loss) from discontinued operations  31,364(2,350)(4,998)(1,228)(1,242)
Other undisclosed net income (loss)(2,256)(7,058)16,648   
Net income (loss):(17,342)4,048(62,081)(24,468)(16,094)(55,405)
Net income attributable to noncontrolling interest   91,08429,74719,02755,330
Other undisclosed net income attributable to parent1,135112188,798  60,685
Net income (loss) attributable to parent:(16,207)4,160217,8015,2792,93360,610
Other undisclosed net income (loss) available to common stockholders, basic   (117,916)24,76217,425 
Net income (loss) available to common stockholders, diluted:(16,207)4,16099,88530,04120,35860,610

Comprehensive Income ($ in thousands)

3/31/2023
Q3
12/31/2022
Q2
9/30/2022
Q1
6/30/2022
Q4
3/31/2022
Q3
12/31/2021
Q2
9/30/2021
Q1
Net income (loss):(17,342)4,048(62,081)(24,468)(16,094)(55,405)
Comprehensive income (loss), net of tax, attributable to parent:(17,342)4,048(62,081)(24,468)(16,094)(55,405)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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