Jushi Holdings Stock Earnings Reports

Jushi reported Q1 2026 revenue of $66.4M, up 4% year-over-year, driven by modest retail growth (notably Ohio and Virginia) and a stronger wholesale channel (Massachusetts and Ohio). Gross profit improved to $29.9M (45% margin) and adjusted EBITDA rose to $11.4M (17.2% margin) reflecting operational improvements, higher production volumes and better product quality, partially offset by pricing pressure and promotional activity. Cash from operations was $8.6M and the company ended the quarter with approximately $42.3M in cash. Jushi completed a refinancing: a $160M first‑lien senior secured term loan (4% OID, 12.5% coupon, interest-only for 36 months) that repaid prior debt, increased liquidity by ~$13.7M, and included no warrants or equity-linked securities. Management highlighted the April 28 federal rescheduling of state-licensed medical cannabis to Schedule III and expects positive tax implications (removal of the 280E disallowance) and to begin DEA registration. Corporate initiatives include a planned redomicile from British Columbia to Nevada and targeted, phased capital investments (2026 total CapEx expected $9–$13M) focused on Virginia, Pennsylvania and Ohio to capture upcoming adult-use conversions and scale production. Retail footprint totaled 42 stores; wholesale momentum included 32 new dispensary customers and 567 new SKUs (45% YoY increase). Regulatory updates: Virginia adult-use timing potentially Jan 1, 2027 (bill in play), Massachusetts increased license caps to 6 stores, Pennsylvania and Ohio legislative changes could accelerate market dynamics. Management emphasized disciplined capital allocation and preparing to deploy significant internal capital to expand cultivation/processing to capture higher-margin adult-use demand.