Company: JUSHF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023749
Chunk: 67

Company: Jushi Holdings Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 67
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13,349 

(1)Includes amounts that are included in cost of goods sold and in operating expenses.(2)Includes: (i) remeasurement of contingent consideration related to acquisitions; (ii) losses (gains) on legal settlements;  (iii) losses (gains) on asset disposals; (iv) foreign exchange losses (gains); (v) indemnification asset adjustments related to acquisitions; and (vi) start-up costs.

Liquidity and Capital Resources

(Amounts expressed in thousands of U.S. dollars, unless otherwise stated)

Sources and Uses of Cash

We had cash, cash equivalents and restricted cash of $27,887 as of March 31, 2025. 

The major components of our statements of cash flows for the three months ended March 31, 2025 and 2024, are as follows:

Three Months Ended March 31,20252024$ Change% ChangeNet cash flows provided by operating activities $7,529 $6,493 $1,036 (16)%Net cash flows used in investing activities(4,375)(743)(3,632)(489)%Net cash flows provided by (used in) financing activities 3,387 (6,491)9,878 (152)%Net change in cash, cash equivalents and restricted cash$6,541 $(741)$7,282 (983)%

Operating activities 

Cash provided by operations was $7,529, as compared to $6,493. The increase was primarily due to factoring certain employee retention credit claims and an increase in cash flow from working capital.

Investing activities

Net cash used in investing activities was $4,375 compared to $743. The current year includes $4,021 for the payments of property, plant and equipment for use in our operations, and $354 of intangible assets acquired. The prior year includes $1,077 for the payments of property, plant and equipment for use in our operations partially offset by $334 in proceeds from the sale of assets.

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Financing activities

Net cash provided by financing activities was $3,387 compared to net cash used in financing activities of $6,491.

The current year cash flows provided by financing activities includes $4,608 of net proceeds from Second Lien Notes, which was partially offset by $465 in net finance lease obligation payments, $603 in payments of other financing activities, and $153 in payments of mortgage-related debt.

The prior