Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 76

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 76
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 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 $6,325, compared to a gain of $2,628. 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. 

Other, Net

Other, net was an expense of $606, compared to $477, a change of $129. 

Income Tax Expense

Total income tax expense was $8,829 compared to $8,965 in the prior year, a decrease of $136 or 2%. 

27

Nine Months Ended September 30, 2025 Compared with the Nine 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:

Nine Months Ended September 30,20252024$ Change% ChangeRetail$175,058 $169,802 $5,256 3 %Wholesale19,513 21,863 (2,350)(11)%Total revenue, net$194,571 $191,665 $2,906 2 %

Revenue, net, was $194,571 compared to $191,665, an increase of $2,906 or 2%. 

Retail revenue increased $5,256. While the overall units sold in our retail channel increased by approximately 7%, average price per unit declined. The increase in retail revenue was primarily due to: 

•An increase in sales in Virginia of $4,653 - while the average price per unit remained relatively flat, the number of units sold increased by approximately 16% as certain dispensaries continue to ramp-up; and 

•An increase in sales in Ohio of $10,509 driven primarily by the opening of five new dispensaries since the prior year, as well as the transition to adult-use during the third quarter of 2024. Beginning in the fourth quarter of 2024, our entry into management services agreement allowed us to consolidate two co-located medical