Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 3

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 3
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$(0.27)$(0.19)$(0.08)Weighted average shares outstanding - basic and diluted195,196,597 195,165,913 30,684 195,196,597 195,145,417 51,180 

25

Three Months Ended September 30, 2025 Compared with the Three Months Ended September 30, 2024

(Amounts expressed in thousands of U.S. dollars, unless otherwise stated)

Revenue, Net

The following table presents revenue by type for the periods indicated:

Three Months Ended September 30,20252024$ Change% ChangeRetail$58,774 $55,441 $3,333 6 %Wholesale6,905 6,170 735 12 %Total revenue, net$65,679 $61,611 $4,068 7 %

Total revenue, net, was $65,679 compared to $61,611, an increase of $4,068 or 7%. 

Retail revenue increased $3,333. While the overall units sold in our retail channel increased by approximately 7%, the average price per unit declined. The increase in retail revenue was primarily due to:

•An increase in sales in Ohio of $3,882 due to the opening of five new dispensaries since the prior year, including the newest co-located medical and adult-use location in Parma which is currently operating under a management services agreement pending regulatory approvals of ownership transfer to the Company; and 

•An increase in sales in Virginia of $1,519 primarily due to an increase in the number of units sold by approximately 7% as certain dispensaries continue to ramp-up, as well as an increase in the average price per unit driven by a shift in sales mix toward higher-priced product offerings. 

These increases in retail revenue were partially offset by: 

•A decline in sales in Illinois of $851 - while the number of units sold remained relatively flat, the average price per unit declined as we increased our use of promotions due to continued competition; 

•A decline in sales in Nevada of $531 - while the number of units sold remained relatively flat, the average price per unit declined as we increased our use of promotions due to continued competition; and

•A decline in sales in Massachusetts of $982 - while the number of units sold decreased by approximately 12% due to continued competition, the average price per unit remained relatively flat.  

Additionally, while retail revenue in Pennsylvania