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
MRQ
12/31/2022
MRQ
6/30/2022
6/30/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15,60510,79611,873
Cash and cash equivalents15,60510,79611,873
Restricted cash and investments  1
Inventory, net of allowances, customer advances and progress billings13,67510,01120,093
Inventory13,67510,01120,093
Prepaid expense  2,2482,210
Disposal group, including discontinued operation   
Other current assets10,4049,991 
Other undisclosed current assets60,527128,45162,501
Total current assets:100,211161,49696,679
Noncurrent Assets
Operating lease, right-of-use asset34,27647,64977,422
Property, plant and equipment 57,64564,108137,830
Intangible assets, net (including goodwill)42,46335,746148,280
Goodwill9,810 32,900
Intangible assets, net (excluding goodwill)32,65335,746115,380
Other noncurrent assets3,8794,41412,252
Other undisclosed noncurrent assets 9,810 
Total noncurrent assets:138,264161,727375,785
TOTAL ASSETS:238,475323,224472,464
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:42,92638,90657,139
Interest and dividends payable 405
Taxes payable 61,463
Accrued liabilities67,473  
Other undisclosed accounts payable and accrued liabilities(24,547)38,906(4,729)
Debt70,58997,004103,702
Derivative instruments and hedges, liabilities3,6436,7506,936
Disposal group, including discontinued operation24,52586,59532,978
Due to related parties   1,477
Other liabilities16,592  
Other undisclosed current liabilities79,37097,16386,377
Total current liabilities:237,644326,417288,608
Noncurrent Liabilities
Long-term debt and lease obligation27,289242,180328,657
Long-term debt, excluding current maturities  171,535199,634
Finance lease, liability27,28926,55329,047
Liabilities, other than long-term debt43,5713,0823,649
Disposal group, including discontinued operation, liabilities   
Other liabilities2,8463,0823,649
Operating lease, liability40,72544,09299,976
Other undisclosed noncurrent liabilities258,76370,057105,184
Total noncurrent liabilities:329,623315,319437,490
Total liabilities:567,267641,736726,097
Equity
Equity, attributable to parent146,438151,808191,760
Additional paid in capital1,060,2371,057,229908,993
Accumulated deficit(913,799)(905,421)(717,233)
Equity, attributable to noncontrolling interest(475,230)(470,321)(445,394)
Total equity:(328,792)(318,513)(253,634)
TOTAL LIABILITIES AND EQUITY:238,475323,224472,464

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

3/31/2023
TTM
12/31/2022
TTM
6/30/2022
6/30/2021
Revenues128,157140,812145,066
Gain on disposition of assets for financial service operations31,720  
Cost of revenue(63,786)(71,084)(77,777)
Gross profit:64,37169,72767,289
Operating expenses(200,218)(238,659)(134,876)
Operating loss:(135,847)(168,932)(67,587)
Nonoperating income22,5962,26958,276
Loss on contract termination (4,430)(4,251)(17,748)
Other nonoperating income (expense) (621)6,51976,024
Interest and debt expense(41)(10,275)16,142
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes14,91711,383(152,276)
Loss from continuing operations before equity method investments, income taxes:(98,374)(165,555)(145,445)
Other undisclosed loss from continuing operations before income taxes(51,015)  
Loss from continuing operations before income taxes:(149,390)(165,555)(145,445)
Income tax expense (benefit)18,1969,896(1,834)
Loss from continuing operations:(131,194)(155,659)(147,280)
Loss before gain (loss) on sale of properties:(92,092)(173,091)(159,630)
Income (loss) from discontinued operations24,016(17,432)(12,350)
Other undisclosed net income7,334  
Net loss:(99,843)(173,091)(159,630)
Net income attributable to noncontrolling interest120,831195,187124,146
Other undisclosed net income attributable to parent190,046188,798193,082
Net income attributable to parent:211,033210,894157,598
Other undisclosed net loss available to common stockholders, basic(93,154)  
Net income available to common stockholders, diluted:117,879210,894157,598

Comprehensive Income ($ in thousands)

3/31/2023
TTM
12/31/2022
TTM
6/30/2022
6/30/2021
Net loss:(99,843)(173,091)(159,630)
Comprehensive loss, net of tax, attributable to parent:(99,843)(173,091)(159,630)

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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