Jushi Holdings Inc
CNSX:JUSH
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Jushi Holdings Inc
Jushi Holdings, Inc. engages in the ownership and operation of cannabis and hemp licenses in the United States. The company is headquartered in Boca Raton, Florida. The company went IPO on 2019-06-08. The firm is focused on building a portfolio of branded cannabis and hemp-derived assets engaged in retail, distribution, cultivation and processing operations across the United States. The company is focused on markets, such as Pennsylvania, Virginia, Ohio, Illinois, California and Nevada. Its brands include Beyond / Hello, Nira, The Lab, The Bank, Tasteology, and Seche. Beyond / Hello is a brand of cannabis dispensaries. Nira is a line of hemp-based cannabidiol (CBD) products. The Bank brand is focused on producing cannabis seeds and flower. The Lab brand produces concentrate across various product formulations. Tasteology brand provides edibles. Seche brand provides fine flower and pre-rolls.
Jushi Holdings, Inc. engages in the ownership and operation of cannabis and hemp licenses in the United States. The company is headquartered in Boca Raton, Florida. The company went IPO on 2019-06-08. The firm is focused on building a portfolio of branded cannabis and hemp-derived assets engaged in retail, distribution, cultivation and processing operations across the United States. The company is focused on markets, such as Pennsylvania, Virginia, Ohio, Illinois, California and Nevada. Its brands include Beyond / Hello, Nira, The Lab, The Bank, Tasteology, and Seche. Beyond / Hello is a brand of cannabis dispensaries. Nira is a line of hemp-based cannabidiol (CBD) products. The Bank brand is focused on producing cannabis seeds and flower. The Lab brand produces concentrate across various product formulations. Tasteology brand provides edibles. Seche brand provides fine flower and pre-rolls.
Revenue Decline: Jushi reported Q2 2023 revenue of $66.4 million, down 9% year-over-year and 5% sequentially, mainly due to store closures, exit from low-margin wholesale, and market compression.
Margin Expansion: Gross margin improved to 46% from 37% a year ago, driven by operational efficiencies, better yields, and greater sell-through of Jushi-branded products.
Cost Reductions: Operating expenses dropped by about 30% year-over-year thanks to streamlined labor, headcount reductions, and new cost-saving packaging.
EBITDA Improvement: Adjusted EBITDA reached $12.6 million, up $12.1 million year-over-year and $5 million from Q1, with a 19% margin surpassing internal targets.
Operational Initiatives: New store openings in Virginia, product launches, and upgrades at processing facilities are expected to drive future growth.
Cash Flow Focus: The company aims to achieve positive operating cash flow within the next few quarters; timing could fall in Q3, Q4, or Q1 2024 due to project-related lumpiness.
Debt & Asset Sales: Jushi is pursuing $5–10 million in proceeds from selling non-cash flow assets and closing a mortgage, with plans to reduce debt and focus on profitability.
Adult-Use Upside: Legislative momentum in Pennsylvania and Virginia could unlock significant future growth if adult-use cannabis is legalized.
