Company: JUSHF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023749
Chunk: 19

Company: Jushi Holdings Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 19
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 and restricted cash$27,887 $21,346 Recent Accounting PronouncementsAdoption of New Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires two primary enhancements of 1) disaggregated information on a reporting entity’s effective tax rate reconciliation, and 2) information on income taxes paid. For public business entities, the new requirement is effective for annual periods beginning after December 15, 2024. The guidance is to be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. There was no material impact to the Company’s consolidated financial statements upon adoption on January 1, 2025.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.

 3.   INVENTORY, NETThe components of inventory, net, are as follows:March 31, 2025 (unaudited)December 31, 2024Cannabis plants$3,605 $3,621 Harvested cannabis and packaging9,133 11,290 Total raw materials12,738 14,911 Work in process6,522 4,493 Finished goods15,075 16,734 Total inventory, net$34,335 $36,138 

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Table of ContentsJUSHI HOLDINGS INC. Notes to the Unaudited Condensed Consolidated Financial Statements(Amounts Expressed in Thousands