Company: JUSHF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023749
Chunk: 4

Company: Jushi Holdings Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 4
---
 business licenses no longer have indefinite useful lives. 

Other Income (Expense)

Interest Expense, Net

Interest expense, net was $10,000 compared to $9,544, an increase of $456, or 5%. 

Fair Value gain (loss) on Derivatives

Fair value gain on derivatives was $637, compared to a loss of $5,100. Fair value gain (loss) on derivatives include the fair value changes relating to the derivative warrants. The derivative warrants are required to be remeasured at fair value at each reporting period. The fair value changes in derivatives were primarily attributable to the movement in our stock price during the corresponding period. 

Other, Net

Other, net was an income of $3,197, compared to $1,917, a change of $1,280. The current quarter is primarily comprised of $2,850 in employee retention credit claims, including interest, received from the IRS. The prior quarter primarily includes $480 foreign exchange translation adjustment mainly relating to certain Second Lien Notes denominated in Canadian dollars, $400 reversal of legal claim accruals no longer required, and $399 gain on debt extinguishment.     

Income Tax Expense

Total income tax expense was $8,978 compared to $9,747 in the prior year, a decrease of $769 or 8%. The decrease in income tax expense is primarily due to lower taxable income.

25

Non-GAAP Measures and Reconciliation

In addition to providing financial measurements based on GAAP, we provide additional financial metrics that are not prepared in accordance with GAAP. We use non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate our financial performance. These non-GAAP financial measures are EBITDA and Adjusted EBITDA (each as defined below). We believe that these non-GAAP financial measures reflect our ongoing business by excluding the effects of expenses that are not reflective of our operating business performance and allow for meaningful comparisons and analysis of trends in our business. These non-GAAP financial measures also facilitate comparing financial results across accounting periods and to those of peer companies. As there are no standardized methods of calculating these non-GAAP measures, our methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similar measures used by others, thus limiting their usefulness. Accordingly, these non-GAAP measures are intended to provide