Company: JUSHF
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037797
Chunk: 48

Company: Jushi Holdings Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 48
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.Accounting Standards Issued But Not Yet AdoptedIn November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires an entity to improve disclosures about public business entities’ expenses and to provide more detailed information around the types of expenses included in commonly presented expense captions. Additionally, in January 2025 the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods for fiscal years beginning after December 15, 2027, and can be applied on a prospective basis or on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the effect of these pronouncements on its consolidated financial statements and related disclosures.In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity, which clarifies that when a business that is a VIE is acquired primarily with equity interests, the determination of the accounting acquirer should follow ASC 805 rather than defaulting to the primary beneficiary under ASC 810. The standard is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effect of this pronouncement on its consolidated financial statements and related disclosures.

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Table of ContentsJUSHI HOLDINGS INC. Notes to the Unaudited Condensed Consolidated Financial Statements(Amounts Expressed in Thousands of U.S. dollars, Except Share and Per Share Amounts)

 3.   INVENTORY, NETThe components of inventory, net, are as follows:June 30, 2025 (unaudited)December 31, 2024Cannabis plants$3,070 $3,621 Harvested cannabis and packaging8,946 11,290 Total raw materials12,016 14,911 Work in process7,046 4,493 Finished goods15,164 16,734 Total inventory, net$34,226 $36,138 

 4.   PREPAID EXP