Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (53,035) $ (36,309)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization, including amounts in cost of goods sold 23,798 21,981
Share-based compensation 424 2,953
Fair value changes in derivatives 5,875 (2,840)
Non-cash interest expense, including amortization of deferred financing costs 7,213 5,062
Deferred income taxes and uncertain tax positions 26,225 25,652
Loss on debt extinguishment 0 362
Gain on asset disposals (2,712) (565)
Gain on deconsolidation of Jushi Europe 0 (1,896)
Other non-cash items, net 923 318
Changes in operating assets and liabilities:    
Accounts receivable (245) 1,662
Inventory (397) (9,148)
Prepaid expenses and other current and non-current assets 1,087 (2,109)
Accounts payable, accrued expenses and other current liabilities 2,518 9,292
Net cash flows provided by operating activities 11,674 14,415
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for property, plant and equipment (13,003) (2,534)
Investments in intangible assets (1,099) 0
Proceeds from sale of assets 3,950 2,723
Net cash flows (used in) provided by investing activities (10,152) 189
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of options 0 39
Payments on promissory notes 0 (6,350)
Payments on acquisition related credit facility 0 (60,125)
Payments of finance leases (1,768) (1,661)
Payments of loan financing costs 0 (2,357)
Proceeds from other financing activities 0 1,585
Payments of other financing activities (1,365) (1,409)
Net cash flows provided by (used in) financing activities 3,291 (23,018)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 4,813 (8,414)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 21,346 31,305
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 26,159 22,891
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest (excluding capitalized interest) 22,581 22,798
Cash paid (received) for income taxes 1,607 (3,829)
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures 2,758 1,944
Right-of-use assets from finance lease liabilities 3,347 703
Issuance of promissory notes for acquisitions 5,909 0
Issuance of second lien notes for settlement of accrued bonus 0 1,382
Warrants issued for second lien notes 1,769 0
Financed insurance premiums 1,459 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 991 0
Mortgage loans used for capital expenditures 507 0
Warrants issued for term loans 0 6,765
Second Lien Notes    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of secured debt 4,608 0
Term Loans    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of secured debt 0 47,530
Payments of loans (1,213) 0
Mortgage loans    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of secured debt 3,473 0
Payments of loans $ (444) $ (270)