Company: JUSHF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001628280-25-010947
Chunk: 111

Company: Jushi Holdings Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 111
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 $5,409 or 13%. The increase in Adjusted EBITDA was primarily due to the benefit of operating efficiencies at our cultivation and processing facilities, and lower operating expenses relating to professional fees, administrative expenses, software and technology cost.

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The table below reconciles net loss to EBITDA and Adjusted EBITDA for the periods indicated. 

(Amounts expressed in thousands of U.S. dollars) 

Year Ended December 31,20242023NET LOSS$(48,777)$(65,102)Income tax expense31,630 31,806 Interest expense, net37,425 36,966 Depreciation and amortization (1)29,889 26,588 EBITDA (Non-GAAP)50,167 30,258 Non-cash share-based compensation4,222 8,092 Fair value changes in derivatives(6,275)(9,589)Indefinite-lived intangible asset impairment— 845 Goodwill impairment— 7,329 Tangible long-lived asset impairment432 400 Gain on debt extinguishments362 — Other (income) expense, net (2)(3)(2,731)3,129 Inventory-related adjustments (4)— 285 Transaction costs— 19 Adjusted EBITDA (Non-GAAP) (3)$46,177 $40,768 

(1)Includes amounts that are included in cost of goods sold and in operating expenses.(2)Includes: (i) remeasurement of contingent consideration related to acquisitions; (ii) losses (gains) on legal settlements; (iii) losses (gains) on lease terminations; (iv) losses (gains) on asset disposals; (v) foreign exchange losses (gains); (vi) indemnification asset adjustments related to acquisitions; (vii) severance costs; and (viii) gain on deconsolidation of Jushi Europe.(3)The sum of the four quarters in 2023 will not add to the year to date amounts due to an overstatement of $503 add back relating to net foreign exchange losses.(4)Includes inventory recall write-offs.

Liquidity and Capital Resources

(Amounts expressed in thousands of U.S. dollars, unless otherwise stated)

Sources and Uses of Cash

We had cash, cash equivalents and restricted cash of $21,346 as of December 31, 2024. 

The major components of our