Company: JUSHF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023749
Chunk: 43

Company: Jushi Holdings Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 43
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 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 

7

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)

 4.   PREPAID EXPENSES AND OTHER CURRENT ASSETSThe components of prepaid expenses and other current assets are as follows:March 31, 2025 (unaudited)December 31, 2024Employee retention credit receivable$1,978 $9,181 Prepaid expenses and deposits3,156 3,452 Assets held for sale611 611 Other current assets1,205 1,786 Total prepaid expenses and other current assets$6,950 $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