Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (36,309) $ (47,098)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization, including amounts in cost of goods sold 21,981 19,780
Share-based compensation 2,953 5,730
Fair value changes in derivatives (2,840) (1,660)
Non-cash interest expense, including amortization of deferred financing costs 5,062 4,603
Deferred income taxes and uncertain tax positions 25,652 19,831
Loss on debt extinguishment 362 0
Gain on deconsolidation of Jushi Europe (1,896) 0
Other non-cash items, net (247) 2,910
Changes in operating assets and liabilities:    
Accounts receivable 1,662 (1,511)
Inventory (9,148) (8,080)
Prepaid expenses and other current and non-current assets (2,109) 564
Accounts payable, accrued expenses and other current liabilities 9,292 (2,896)
Net cash flows provided by (used in) operating activities 14,415 (7,827)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for property, plant and equipment (2,534) (8,385)
Proceeds from sale of property, plant and equipment 2,723 2,321
Net cash flows provided by (used in) investing activities 189 (6,064)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of options 39 0
Payments on promissory notes (6,350) 0
Payments on acquisition related credit facility (60,125) (2,438)
Payments of finance leases (1,661) (2,761)
Payments of loan financing costs (2,357) (250)
Payments of mortgage loans (270) (160)
Proceeds from other financing activities 1,585 3,295
Payments of other financing activities (1,409) (2,372)
Net cash flows (used in) provided by financing activities (23,018) 17,214
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (8,414) 3,323
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 31,305 27,146
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 22,891 30,469
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest (excluding capitalized interest) 22,798 22,159
Cash (received) paid for income taxes (3,829) 3,145
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures 1,944 1,920
Right-of-use assets from finance lease liabilities 703 1,001
Issuance of second lien notes for settlement of accrued bonus 1,382 750
Issuance of second lien notes for debt exchange 4,750 0
Warrants issued for debt exchange 863 0
Warrants issued for term loans 6,765 0
Term Loans    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from secured debt 47,530 0
Mortgage loans    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from secured debt $ 0 $ 21,900