Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (29,346) $ (20,293)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization, including amounts in cost of goods sold 16,002 14,213
Share-based compensation 67 1,871
Fair value changes in derivatives (450) (212)
Non-cash interest expense, including amortization of deferred financing costs 4,632 3,303
Deferred income taxes and uncertain tax positions 17,583 17,953
Gain on debt extinguishment 0 (399)
Gain on asset disposals (3,009) (1,010)
Gain on deconsolidation of Jushi Europe 0 (1,896)
Other non-cash items, net (531) (1,601)
Changes in operating assets and liabilities:    
Accounts receivable 942 1,393
Inventory 2,086 (6,679)
Prepaid expenses and other current and non-current assets 384 (68)
Accounts payable, accrued expenses and other current liabilities (2,766) 5,466
Net cash flows provided by operating activities 5,594 12,041
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for property, plant and equipment (8,137) (1,764)
Investments in intangible assets (647) 0
Proceeds from sale of assets 3,950 2,723
Net cash flows (used in) provided by investing activities (4,834) 959
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from second lien notes, net of debt discount of $512 4,608 0
Proceeds from exercise of options 0 7
Payments on promissory notes 0 (2,750)
Payments on acquisition related credit facility 0 (4,875)
Payments of finance leases (925) (1,212)
Payments of mortgage loans (297) (143)
Proceeds from other financing activities 750 628
Payments of other financing activities (1,011) (930)
Net cash flows provided by (used in) financing activities 3,125 (9,275)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 3,885 3,725
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 21,346 31,305
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 25,231 35,030
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest (excluding capitalized interest) 15,171 14,998
Cash paid (received) for income taxes 1,403 (3,829)
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures 2,648 1,246
Right-of-use assets from finance lease liabilities 1,738 386
Issuance of promissory notes for acquisitions 5,909 0
Warrants issued for second lien notes 1,769 0
Issuance of second lien notes for debt exchange 0 4,750
Warrants issued for debt exchange 0 863
Property, plant and equipment from finance lease liabilities $ 628 $ 0