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

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 10
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%. The increase was due primarily to higher margin resulting from stronger performance at our grower processor facilities, and new dispensary openings.

Adjusted EBITDA for the nine months ended September 30, 2025 and 2024, was $36,335 and $38,172, respectively, a decrease of $1,837 or 5%. The decrease was primarily due to overall lower margin, which was partially offset by payments received from the IRS in relation to employee retention credit claims.

30

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

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

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024NET LOSS$(23,689)$(16,016)$(53,035)$(36,309)Income tax expense 8,829 8,965 27,735 28,041 Interest expense, net10,267 9,382 30,486 27,997 Depreciation and amortization (1)7,796 7,768 23,798 21,981 EBITDA (Non-GAAP)3,203 10,099 28,984 41,710 Non-cash share-based compensation357 1,082 424 2,953 Fair value changes in derivatives6,325 (2,628)5,875 (2,840)Tangible long-lived asset impairment— 275 — 432 Other (income) expense, net (2)2,908 756 1,052 (2,549)Loss on debt extinguishment— 761 — 362 Gain on deconsolidation of Jushi Europe— — — (1,896)Adjusted EBITDA (Non-GAAP)$12,793 $10,345 $36,335 $38,172 

(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 asset disposals; (iv) foreign exchange losses (gains); (v) indemnification asset adjustments related to acquisitions; and (vi) start-up costs.

Liquidity and Capital Resources

(Amounts expressed in thousands