Company: JUSHF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001628280-25-010947
Chunk: 117

Company: Jushi Holdings Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 117
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 2024 and 2023, respectively)183,449 126,041 Finance lease obligations - non-current52,742 52,839 Derivative liabilities - non-current3,128 220 Unrecognized tax benefits 143,688 100,343 Other liabilities - non-current38,653 29,111 Total non-current liabilities421,660 308,554 Total liabilities490,555 471,014 COMMITMENTS AND CONTINGENCIES (Note 22)EQUITY (DEFICIT):Common stock, no par value; authorized shares - unlimited; issued and outstanding shares - 196,696,597 and 196,631,598 Subordinate Voting Shares as of December 31, 2024 and 2023, respectively— — Paid-in capital508,386 503,612 Accumulated deficit(558,621)(509,844)Total Jushi shareholders' equity (deficit)(50,235)(6,232)Non-controlling interests— (1,387)Total deficit(50,235)(7,619)Total liabilities and equity (deficit)$440,320 $463,395 

The accompanying notes are an integral part of these consolidated financial statements.

70

Table of ContentsJUSHI HOLDINGS INC.CONSOLIDATED STATEMENTS OF OPERATIONS  (in thousands of U.S. dollars, except share and per share amounts)

Year Ended December 31,20242023REVENUE, NET$257,525 $269,445 COST OF GOODS SOLD(139,222)(153,217)GROSS PROFIT118,303 116,228 OPERATING EXPENSESSelling, general and administrative107,008 110,472 Asset impairments432 8,574 Total operating expenses107,440 119,046 INCOME (LOSS) FROM OPERATIONS10,863 (2,818)OTHER INCOME (EXPENSE):Interest expense, net (37,425)(36,966)Fair value gain on derivatives6,275 9,589 Other, net3,140 (3,101)Total other income (expense), net(28,010)(30,478)LOSS BEFORE INCOME TAX(17,147)(33,296)Income tax expense(31,630)(31,806)NET LOSS$(48,777)$(65,102)LOSS PER SHARE - BASIC AND DILUTED$(