Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 19,521 $ 26,027
Restricted cash - current 0 3,128
Accounts receivable, net 1,461 3,380
Inventories, net 36,138 33,586
Prepaid expenses and other current assets 15,030 15,514
Total current assets 72,150 81,635
NON-CURRENT ASSETS:    
Property, plant and equipment, net 144,063 159,268
Right-of-use assets - finance leases 60,627 63,107
Other intangible assets, net 100,472 95,967
Goodwill 30,910 30,910
Other non-current assets 30,273 30,358
Restricted cash - non-current 1,825 2,150
Total non-current assets 368,170 381,760
Total assets 440,320 463,395
CURRENT LIABILITIES:    
Accounts payable 21,459 15,383
Accrued expenses and other current liabilities 32,786 44,070
Income tax payable 2,299 5,190
Debt, net - current portion (including related party principal amounts of $800 and $3,298 as of December 31, 2024 and 2023, respectively) 2,758 86,514
Finance lease obligations - current 9,593 8,885
Derivative liabilities - current 0 2,418
Total current liabilities 68,895 162,460
NON-CURRENT LIABILITIES:    
Debt, net - non-current (including related party principal amounts of $35,296 and $19,788 as of December 31, 2024 and 2023, respectively) 183,449 126,041
Finance lease obligations - non-current 52,742 52,839
Derivative liabilities - non-current 3,128 220
Unrecognized tax benefits 143,688 100,343
Other liabilities - non-current 38,653 29,111
Total non-current liabilities 421,660 308,554
Total liabilities 490,555 471,014
COMMITMENTS AND CONTINGENCIES (Note 22)
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 December 31, 2024 and 2023, respectively 0 0
Paid-in capital 508,386 503,612
Accumulated deficit (558,621) (509,844)
Total Jushi shareholders' equity (deficit) (50,235) (6,232)
Non-controlling interests 0 (1,387)
Total deficit (50,235) (7,619)
Total liabilities and equity (deficit) $ 440,320 $ 463,395