Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 23,206 $ 19,521
Accounts receivable, net 791 1,461
Inventory, net 34,226 36,138
Prepaid expenses and other current assets 6,005 15,030
Total current assets 64,228 72,150
NON-CURRENT ASSETS:    
Property, plant and equipment, net 144,730 144,063
Right-of-use assets - finance leases 59,178 60,627
Other intangible assets, net 97,024 100,472
Goodwill 30,910 30,910
Other non-current assets 34,274 30,273
Restricted cash - non-current 2,025 1,825
Total non-current assets 368,141 368,170
Total assets 432,369 440,320
CURRENT LIABILITIES:    
Accounts payable 17,376 21,459
Accrued expenses and other current liabilities 26,858 32,786
Income tax payable 1,772 2,299
Debt, net - current portion (including related party principal amounts of $1,600 and $800 as of June 30, 2025 and December 31, 2024, respectively) 7,088 2,758
Finance lease obligations - current 10,028 9,593
Total current liabilities 63,122 68,895
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $40,320 and $35,296 as of June 30, 2025 and December 31, 2024, respectively) 192,826 183,449
Finance lease obligations - non-current 53,397 52,742
Derivative liabilities - non-current 3,070 3,128
Unrecognized tax benefits 162,785 143,688
Other liabilities - non-current 35,006 38,653
Total non-current liabilities 447,084 421,660
Total liabilities 510,206 490,555
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 June 30, 2025 and December 31, 2024, respectively 0 0
Paid-in capital 509,830 508,386
Accumulated deficit (587,967) (558,621)
Total Jushi shareholders' deficit (78,137) (50,235)
Non-controlling interests 300 0
Total deficit (77,837) (50,235)
Total liabilities and equity (deficit) $ 432,369 $ 440,320