Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 25,962 $ 19,521
Accounts receivable, net 1,404 1,461
Inventory, net 34,335 36,138
Prepaid expenses and other current assets 6,950 15,030
Total current assets 68,651 72,150
NON-CURRENT ASSETS:    
Property, plant and equipment, net 143,391 144,063
Right-of-use assets - finance leases 58,950 60,627
Other intangible assets, net 98,907 100,472
Goodwill 30,910 30,910
Other non-current assets 30,883 30,273
Restricted cash - non-current 1,925 1,825
Total non-current assets 364,966 368,170
Total assets 433,617 440,320
CURRENT LIABILITIES:    
Accounts payable 20,470 21,459
Accrued expenses and other current liabilities 24,912 32,786
Income tax payable 1,596 2,299
Debt, net - current portion (including related party principal amounts of $1,200 and $800 as of March 31, 2025 and December 31, 2024, respectively) 3,848 2,758
Finance lease obligations - current 9,754 9,593
Total current liabilities 60,580 68,895
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $40,074 and $35,296 as of March 31, 2025 and December 31, 2024, respectively) 193,052 183,449
Finance lease obligations - non-current 52,512 52,742
Derivative liabilities - non-current 2,883 3,128
Unrecognized tax benefits 153,054 143,688
Other liabilities - non-current 37,416 38,653
Total non-current liabilities 438,917 421,660
Total liabilities 499,497 490,555
COMMITMENTS AND CONTINGENCIES (Note 16)
EQUITY (DEFICIT):    
Common stock, no par value: authorized shares - unlimited; issued and outstanding shares - 196,696,597 and 196,696,597 Subordinate Voting Shares as of March 31, 2025 and December 31, 2024, respectively 0 0
Paid-in capital 509,456 508,386
Accumulated deficit (575,636) (558,621)
Total Jushi shareholders' deficit (66,180) (50,235)
Non-controlling interests 300 0
Total deficit (65,880) (50,235)
Total liabilities and equity (deficit) $ 433,617 $ 440,320