Jushi Holdings Delays Audited Financial Results, Releases Unaudited Figures Instead

Jushi Holdings (CSE: JUSH) evidently will not be filing its fourth quarter financials on time. The company this morning blamed its auditors on being behind as the reason for the delay, with financials not expected to be released until May 24, 2021 currently.

As a result of the delay, the company this morning announced its unaudited results for the fourth quarter of 2020, as well as revenue for the first quarter of 2021. For the fourth quarter, the company reportedly generated unaudited revenue of $32.3 million, at a gross profit of $17.6 million.

No context was provided for the overall net loss in generating these figures however, with the company simply stating it generated income from operations of $0.4 million. Revenue was up from $24.9 million in the third quarter.

For the full year, the company reported unaudited revenues of $80.8 million, along with gross profits of $41.5 million. A loss from operations of $10.5 million was reported, with no context provided for the overall net loss or income for the full year. The company also reported cash of $93.8 million as of December 31, 2020.

Finally, for the first quarter of 2021 the company announced it has achieved unaudited revenues of $41.6 million, while holding $168 million in cash and cash equivalents as of the end of the quarter. No context was provided here in terms of gross profits or overall operating performance.

Jushi Holdings last traded at $7.27 on the CSE.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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