Jushi Holdings Reports Q3 Revenues Of $54.0 Million, Positive Net Income
Jushi Holdings (CSE: JUSH) this morning reported its third quarter financial results, posting revenues of $54.0 million for the three month period. The firm also posted a positive net income of $38.2 million.
Revenue for the quarter was up 13.1% on a quarter over quarter basis from the $47.7 million reported in second quarter revenue, while also up 116.7% on a year over year basis. Gross profits meanwhile were up a smaller 7.9% on a quarter over quarter basis, climbing to $23.3 million before fair value adjustments, as compared to the prior $21.6 million.
Expenses during the quarter were down slightly, coming in at $24.6 million. Little breakdown was provided by the company here, with $24.3 million attributed to SG&A, while $0.3 million was attributed to acquisition and deal costs. The end result however was a loss from operations of $0.2 million.
The company however managed to get a boost from fair value changes in derivative liabilities to the tune of $55.1 million, which was partially offset by an interest expense of $8.1 million. Overall, the come posted a net income of $38.2 million, largely attributed to fair value adjustments. Adjusted EBITDA meanwhile came in at $6.4 million.
Jushi Holdings last traded at $5.84 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
