Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 72

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 72
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 $4,000, (the “Additional Loan Proceeds”); (ii) the loan’s maturity date was extended to September 2030; and (iii) the interest rate floor was lowered from 8.25% to 7.50% (but does not change the interest rate, which remains the average 30-day secured overnight financing rate plus 3.55%). The Manassas Mortgage, as modified, remains principally secured by our cultivation and manufacturing facility located in Manassas, Virginia (the “Property’). In addition, the Modification Agreement requires that $761 of the Additional Loan Proceeds be deposited into a restricted account, designated for use in fulfilling certain conditions associated with ongoing construction at the Property.

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Table of Contents

Ohio

In the fourth quarter of 2024, we executed two definitive agreements to purchase assets in the state of Ohio for four dispensary licenses, and related management services agreements. The management services agreements allowed us to consolidate two co-located medical and adult-use dispensaries beginning in the fourth quarter of 2024, and two additional co-located dispensaries during 2025. During the nine months ended September 30, 2025, ownership of the four dispensary licenses were transferred to us.

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Results of Operations

(Amounts expressed in thousands of U.S. dollars, except share and per share amounts)

Three Months Ended September 30,Nine Months Ended September 30,202520242025 vs. 2024202520242025 vs. 2024Amount% of RevenueAmount% of Revenue$ ChangeAmount% of RevenueAmount% of Revenue$ ChangeREVENUE, NET$65,679 100%$61,611 100%$4,068 $194,571 100%$191,665 100%$2,906 COST OF GOODS SOLD(35,015)(53)%(33,612)(55)%(1,403)(109,208)(56)%(98,770)(52)%(10,438)GROSS PROFIT30,664 47%27,999 45%2,665 85,363 44%92,895 48%(7,532)OPERATING EXPENSES28,326 43%27,819 45%507 81,294 42%80,192 42%1,102 INCOME FROM OPERATIONS2,338 4%180 —%2,158 4,069 2%12