Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 64

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 64
---
,665 

18

Table of ContentsJUSHI HOLDINGS INC. Notes to the Unaudited Condensed Consolidated Financial Statements(Amounts Expressed in Thousands of U.S. dollars, Except Share and Per Share Amounts)

 13.   OPERATING EXPENSESThe major components of operating expenses are as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Salaries, wages and employee related expenses$14,315 $14,498 $43,055 $42,837 Depreciation and amortization expenses4,512 3,985 13,702 11,090 Rent and related expenses3,184 3,053 9,415 8,928 Professional fees and legal expenses1,804 1,320 5,584 5,501 Share-based compensation expense357 1,082 424 2,953 Loss (gain) on asset disposals and lease terminations306 443 (2,992)(2,233)Other expenses (1)3,848 3,438 12,106 11,116 Total operating expenses$28,326 $27,819 $81,294 $80,192 (1)     Other expenses are primarily comprised of marketing and selling expenses, insurance costs, administrative and licensing fees, software and technology costs, travel, entertainment and other.

 14.   INCOME TAXESThe following table summarizes the Company’s income tax expense and effective tax rates for the three and nine months ended September 30, 2025 and 2024:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Loss before income tax$(14,860)$(7,051)$(25,300)$(8,268)Income tax expense$8,829 $8,965 $27,735 $28,041 Effective income tax rate59.4 %127.1 %109.6 %339.2 %The Company has computed its provision for income taxes based on the actual effective rate for the three and nine months ended September 30, 2025 and 2024 as the Company believes this is the best estimate for the annual effective tax rate. Therefore, the Company’s effective income tax rates for the three and nine months ended September 30, 2025 and 2024 are not indicative