Jushi Holdings Inc. reported sequential and year-over-year revenue growth driven by retail and wholesale channel expansion, alongside improved gross profit margins due to operational efficiencies and higher production volumes. The company also secured additional financing and expanded its retail footprint, positioning for future growth.
Revenue increased 6.6% year-over-year to $65.7 million, driven by strong performance in Ohio and Virginia retail, and growth in wholesale markets.
positiveGross profit margin expanded 125 basis points year-over-year to 46.7%, attributed to higher production volumes and improved product quality.
positiveAdjusted EBITDA increased 23.7% year-over-year to $12.8 million, with a margin of 19.5%.
positiveSecured an additional $4.0 million in proceeds from an amended commercial loan, extending maturity to September 2030 and reducing the interest rate floor.
positiveOpened a new Beyond Hello™ Parma dispensary, strengthening Ohio footprint and marking the 41st nationwide location.
positiveNet loss widened by 47.9% year-over-year to $23.7 million, primarily due to increased interest expense and fair value losses on derivatives.
negativeOperating expenses increased 1.8% year-over-year to $28.3 million, driven by higher depreciation, amortization, professional fees, and legal expenses.
attentionWholesale revenue in Virginia declined $1.0 million due to lower demand from wholesale partners.
attentionFair value loss on derivatives was $6.3 million in Q3 2025, compared to a gain of $2.6 million in Q3 2024.
attentionTotal current liabilities increased significantly to $109.2 million from $68.9 million in the prior quarter, largely due to a substantial increase in current debt.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Retail | N/A | — | — | — |
Wholesale | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Our third quarter results demonstrate that our optimization efforts and investments are delivering, with both topline growth and profitability advancing as planned.
Higher yields, enhanced product quality, and more efficient operations are allowing us to serve both our retail network and wholesale partners more effectively, driving stronger sales, expanding margins, and fueling growth across the business.
Facility enhancements drove average yields up 13% year-over-year, with average THCa potency surpassing our annual target by more than 10%.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.