Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 25,286 $ 26,027
Restricted cash - current 3,128 3,128
Accounts receivable, net 3,186 3,380
Inventory, net 36,665 33,586
Prepaid expenses and other current assets 14,736 15,514
Total current assets 83,001 81,635
NON-CURRENT ASSETS:    
Property, plant and equipment, net 154,141 159,268
Right-of-use assets - finance leases 62,098 63,107
Other intangible assets, net 95,224 95,967
Goodwill 30,910 30,910
Other non-current assets 30,324 30,358
Restricted cash - non-current 2,150 2,150
Total non-current assets 374,847 381,760
Total assets 457,848 463,395
CURRENT LIABILITIES:    
Accounts payable 16,913 15,383
Accrued expenses and other current liabilities 43,150 44,070
Income tax payable 8,010 5,190
Debt, net - current portion (including related party principal amounts of $3,225 and $3,298 as of March 31, 2024 and December 31, 2023, respectively) 79,877 86,514
Finance lease obligations - current 9,121 8,885
Derivative liabilities - current 7,224 2,418
Total current liabilities 164,295 162,460
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $19,493 and $19,788 as of March 31, 2024 and December 31, 2023, respectively) 127,180 126,041
Finance lease obligations - non-current 52,283 52,839
Derivative liabilities - non-current 513 220
Unrecognized tax benefits 109,204 100,343
Other liabilities - non-current 27,958 29,111
Total non-current liabilities 317,138 308,554
Total liabilities 481,433 471,014
COMMITMENTS AND CONTINGENCIES (Note 18)
EQUITY (DEFICIT):    
Common stock, no par value: authorized shares - unlimited; issued and outstanding shares - $196,634,931 and $196,631,598 Subordinate Voting Shares as of March 31, 2024 and December 31, 2023, respectively 0 0
Paid-in capital 506,001 503,612
Accumulated deficit (528,199) (509,844)
Total Jushi shareholders' deficit (22,198) (6,232)
Non-controlling interests (1,387) (1,387)
Total deficit (23,585) (7,619)
Total liabilities and equity (deficit) $ 457,848 $ 463,395