| EARNINGS (LOSS) PER SHARE |
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13. EARNINGS (LOSS) PER SHARE |
The reconciliations of the net loss and the weighted average number of shares used in the computations of basic and diluted loss per share attributable to Jushi shareholders are as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Numerator: |
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Net loss and comprehensive loss attributable to Jushi shareholders |
$ |
(20,622) |
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$ |
(54,696) |
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$ |
(47,098) |
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$ |
(62,387) |
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| Dilutive effect of net income from derivative warrants liability |
— |
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(6,396) |
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— |
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(63,277) |
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Less undistributed net income for participating securities |
— |
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455 |
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— |
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532 |
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Net loss and comprehensive loss attributable to Jushi shareholders - diluted |
$ |
(20,622) |
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$ |
(60,637) |
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$ |
(47,098) |
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$ |
(125,132) |
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| Denominator: |
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| Weighted-average shares of common stock - basic |
195,128,096 |
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192,880,468 |
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194,649,053 |
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189,119,282 |
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| Dilutive effect of derivative warrants |
— |
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10,289,463 |
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— |
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16,576,308 |
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| Weighted-average shares of common stock - diluted |
195,128,096 |
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203,169,931 |
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194,649,053 |
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205,695,590 |
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Loss per common share attributable to Jushi shareholders: |
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| Basic |
$ |
(0.11) |
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$ |
(0.28) |
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$ |
(0.24) |
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$ |
(0.33) |
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| Diluted |
$ |
(0.11) |
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$ |
(0.30) |
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$ |
(0.24) |
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$ |
(0.61) |
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The following table summarizes weighted average instruments that may, in the future, have a dilutive effect on loss per share, but were excluded from consideration in the computation of diluted net loss per share for the three and nine months ended September 30, 2023 and 2022, because the impact of including them would have been anti-dilutive:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Stock options |
29,664,683 |
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26,072,710 |
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29,185,375 |
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22,435,919 |
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| Warrants (derivative liabilities and equity) |
86,241,092 |
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29,405,890 |
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86,110,330 |
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29,442,149 |
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| Unvested restricted stock awards |
4,177 |
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1,148,935 |
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496,567 |
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1,785,619 |
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| Convertible promissory notes |
— |
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910,000 |
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— |
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910,000 |
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115,909,952 |
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57,537,535 |
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115,792,272 |
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54,573,687 |
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