Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 20,741 $ 26,027
Restricted cash - current 0 3,128
Accounts receivable, net 2,311 3,380
Inventory, net 41,359 33,586
Prepaid expenses and other current assets 17,124 15,514
Total current assets 81,535 81,635
NON-CURRENT ASSETS:    
Property, plant and equipment, net 145,418 159,268
Right-of-use assets - finance leases 60,263 63,107
Other intangible assets, net 91,915 95,967
Goodwill 30,910 30,910
Other non-current assets 30,135 30,358
Restricted cash - non-current 2,150 2,150
Total non-current assets 360,791 381,760
Total assets 442,326 463,395
CURRENT LIABILITIES:    
Accounts payable 20,112 15,383
Accrued expenses and other current liabilities 35,769 44,070
Income tax payable 2,660 5,190
Debt, net - current portion (including related party principal amounts of $400 and $3,298 as of September 30, 2024 and December 31, 2023, respectively) 1,781 86,514
Finance lease obligations - current 9,305 8,885
Derivative liabilities - current 156 2,418
Total current liabilities 69,783 162,460
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $36,501 and $19,788 as of September 30, 2024 and December 31, 2023, respectively) 183,710 126,041
Finance lease obligations - non-current 51,994 52,839
Derivative liabilities - non-current 6,407 220
Unrecognized tax benefits 136,088 100,343
Other liabilities - non-current 33,030 29,111
Total non-current liabilities 411,229 308,554
Total liabilities 481,012 471,014
COMMITMENTS AND CONTINGENCIES (Note 16)
EQUITY (DEFICIT):    
Common stock, no par value: authorized shares - unlimited; issued and outstanding shares - 196,696,597 and 196,631,598 Subordinate Voting Shares as of September 30, 2024 and December 31, 2023, respectively 0 0
Paid-in capital 507,467 503,612
Accumulated deficit (546,153) (509,844)
Total Jushi shareholders' deficit (38,686) (6,232)
Non-controlling interests 0 (1,387)
Total deficit (38,686) (7,619)
Total liabilities and equity (deficit) $ 442,326 $ 463,395