Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 51

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 51
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 effect of this pronouncement on its consolidated financial statements and related disclosures.

8

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:September 30, 2025 (unaudited)December 31, 2024Cannabis plants$3,181 $3,621 Harvested cannabis and packaging8,123 11,290 Total raw materials11,304 14,911 Work in process6,898 4,493 Finished goods18,595 16,734 Total inventory, net$36,797 $36,138 

 4.   PREPAID EXPENSES AND OTHER CURRENT ASSETSThe components of prepaid expenses and other current assets are as follows:September 30, 2025 (unaudited)December 31, 2024Prepaid expenses and deposits$3,728 $3,452 Employee retention credit receivable1,625 9,181 Assets held for sale382 611 Other current assets2,024 1,786 Total prepaid expenses and other current assets$7,759 $15,030 Employee Retention Credit ReceivableThe Coronavirus Aid, Relief, and Economic Security Act, passed in March 2020 and subsequently amended in 2021, allowed eligible employers to take credits on certain amounts of qualified wages if the Company experienced either a full or partial suspension of operations due to COVID related government orders. During the year ended December 31, 2023, the Company, with guidance from a third-party specialist, determined it was entitled to employee retention credit (“ERC”) claims for previous business interruptions related to COVID and filed for such claims with the Internal Revenue Service (“IRS”). As of December 31, 2024, the ERC claims were recorded as deferred income in Accrued expenses and other current liabilities, with an offsetting receivable amount in Prepaid expenses and other current assets within the consolidated balance sheet. On February 11, 2025, the Company executed an agreement with an unrelated third party to sell certain ERC claims, and received $5,081 in net cash proceeds on February 14, 2025. If the Company does not receive an ERC claim, in whole or in part, the Company