Company: JUSHF
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037797
Chunk: 73

Company: Jushi Holdings Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 73
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Other Income (Expense)

Interest Expense, Net

Interest expense, net was $10,219 compared to $9,071, an increase of $1,148, or 13%. The increase in interest expense, net is primarily due to the $48,500 in secured term loans (the “Term Loans”) which were issued in July 2024, which was partially offset by the decrease in interest expense from the repayment of the Company’s previous secured credit facility (the “Acquisition Facility”) in July 2024.

Fair Value gain (loss) on Derivatives

Fair value loss on derivatives was $187, compared to a gain of $5,312. Fair value gain (loss) on derivatives include the fair value changes relating to the derivative warrants. The derivative warrants are required to be remeasured at fair value at each reporting period. The fair value changes in derivatives were primarily attributable to the movement in our stock price during the corresponding period. 

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Other, Net

Other, net was an income of $4,401, compared to an income of $2,746, a change of $1,655. The current quarter is primarily comprised of $3,981 in employee retention credit claims, including interest, received from the Internal Revenue Service (“IRS”), and $914 gain on sale of a non-core asset. The prior quarter is primarily comprised of $1,896 gain on Jushi Europe SA (“Jushi Europe”) deconsolidation.

Income Tax Expense

Total income tax expense was $9,928 compared to $9,329 in the prior year, an increase of $599 or 6%. The increase in income tax expense is primarily due to an increase in taxable income.

Six Months Ended June 30, 2025 Compared with the Six Months Ended June 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:

Six Months Ended June 30,20252024$ Change% ChangeRetail$116,284 $114,361 $1,923 2 %Wholesale12,608 15,693 (3,085)(20)%Total revenue, net$128,892 $130,054 $(1,162)(1)%

Revenue, net, was $128,892 compared to $130,054, a decrease of $1,162 or 1%. 

Retail revenue increased $1