Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 1

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 1
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 providers in the markets in which we operate. Several significant competitors may offer products and/or services with prices that may match or are lower than ours. We believe that the products and services we offer are generally competitive with those offered by other cannabis companies. It is possible that one or more of our competitors could develop a significant research advantage over us that allows them to provide superior products or pricing, which could put us at a competitive disadvantage. Continued pricing pressure due to competition, increased cannabis supply or shifts in customer preferences could adversely impact our customer base or pricing structure, resulting in a material impact on our results of operations, or asset impairments in future periods. 

Recent Developments

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

FVC Loan Modification

In September 2025, we executed a modification agreement (the “Modification Agreement”) related to our Manassas mortgage loan agreement “Manassas Mortgage”, pursuant to which: (i) the outstanding principal balance was increased by $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 Revenue