Company: JUSHF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001628280-25-010947
Chunk: 106

Company: Jushi Holdings Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 106
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 unrelated third party to factor certain ERC claims amounting to $5,978 at a discount rate of 15%, and received $5,081 in net cash proceeds on February 14, 2025. We are also entitled to receive a portion of any interest paid on our respective ERC claims through the transaction date. The execution of this agreement was a recognizable subsequent event to the year ended December 31, 2024, in accordance with Topic ASC 855, Subsequent Events. Refer to Note 4 - Prepaid Expenses and Other Current Assets  of our Annual Financial Statements included in this Annual Report on Form 10-K for more information. 

Results of Operations

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

Year Ended December 31,202420232024 vs. 2023AmountPercentage of RevenueAmountPercentage of RevenueChangeREVENUE, NET$257,525 100 %$269,445 100 %$(11,920)COST OF GOODS SOLD(139,222)54 %(153,217)57 %13,995 GROSS PROFIT118,303 46 %116,228 43 %2,075 OPERATING EXPENSESSelling, general and administrative107,008 42 %110,472 41 %(3,464)Asset impairments432 — %8,574 3 %(8,142)Total operating expenses107,440 42 %119,046 44 %(11,606)INCOME (LOSS) FROM OPERATIONS10,863 4 %(2,818)(1)%13,681 OTHER INCOME (EXPENSE):Interest expense, net(37,425)(15)%(36,966)(14)%(459)Fair value gain on derivative warrants6,275 2 %9,589 4 %(3,314)Other, net3,140 1 %(3,101)(1)%6,241 Total other income (expense), net(28,010)(11)%(30,478)(11)%2,468 LOSS BEFORE INCOME TAX(17,147)(7)%(33,296)(12)%16,149 Income tax expense(31,630)(12)%(31,806)(12)%176 NET LOSS$(48,777)(19)%$(65,102)(24)%$16,325 LOSS PER SHARE - BASIC AND DIL