JUSHOTCMedicinal Chemicals & Botanical ProductsUS GAAP · USD

Jushi Holdings Inc.

Jushi Holdings Inc. is a vertically integrated cannabis operator in the United States with retail, wholesale, cultivation, and processing operations. The company serves both medical and adult-use markets, with a focus on limited-license states and markets moving toward broader legalization.

Kysy yhtiöstä
Liikevaihto263milj. USD
+2,1 %v/v
Liikevoitto (EBIT)4,9milj. USD
−55,3 %v/v
EBIT-marginaali1,8%
−2,4 %-yks.v/v
Nettotulos−68,6milj. USD
−40,6 %v/v
Vapaa kassavirta1,6milj. USD
−90,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−400−2000200400milj. USD2020: 81 milj. USD2020: EBIT −17 milj. USD20202021: 209 milj. USD2021: EBIT −36 milj. USD20212022: 284 milj. USD2022: EBIT −220 milj. USD20222023: 269 milj. USD2023: EBIT −2,8 milj. USD20232024: 258 milj. USD2024: EBIT 11 milj. USD20242025: 263 milj. USD2025: EBIT 4,9 milj. USD20252634,9
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Jushi Holdings Inc.

Liiketoiminta

Osuus liikevaihdosta
Retail dispensary sales90 %

Direct sales of cannabis products to medical and adult-use customers through company-operated stores.

Wholesale cannabis10 %

Bulk flower and other products sold to third-party customers and partners in operating states.

Cultivation and processing0 %

Internal cultivation, grower-processing, and manufacturing that support retail and wholesale supply.

Tuotteet

Raportoitu · osuus liikevaihdosta
89,6%10,4%FY2025100 %
  • Retail Cannabis89,6 %
  • Wholesale Cannabis10,4 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Jushi sells primarily to adult-use consumers and medical cannabis patients who buy through its dispensaries. It also serves wholesale customers and third-party partners that purchase bulk product when supply is available. Demand is shaped by state-level legalization, local competition, product availability, and pricing pressure.

Adult-use retail customers

Consumers buying cannabis products from Jushi dispensaries in adult-use markets such as Ohio, Illinois, Nevada, and Massachusetts.

Medical cannabis patients

Patients buying regulated products in medical markets such as Pennsylvania and Virginia, where access and licensing remain important.

Wholesale partners

Third-party buyers of bulk cannabis flower and related products when Jushi has available supply.

Strategia

Jushi is focused on building a portfolio of cannabis assets in limited-license jurisdictions and markets with favorable legalization trajectories. The company is prioritizing vertical integration, branded product penetration, and supply allocation to its own retail stores to improve margin and control customer experience.

Expand in limited-license and transitioning marketsKeskipitkä aikaväli

These markets can support better economics, tighter competition, and future adult-use upside.

Strengthen vertical integration and retail controlLyhyt aikaväli

Owning cultivation, processing, and stores helps manage supply, margins, and brand execution.

Grow branded product salesKeskipitkä aikaväli

Higher branded mix can improve customer loyalty and reduce dependence on commodity pricing.

Maantiede

Jushi operates across multiple U.S. states, with emphasis on highly populated limited-license markets and states transitioning from medical to adult-use. Reported operating activity includes Pennsylvania, Virginia, Illinois, Nevada, Massachusetts, Ohio, and certain municipalities in California. Geography matters because each state has its own licensing regime, pricing dynamics, and pace of adult-use expansion.

Riskit

Jushi faces intense competition and pricing pressure in state cannabis markets, which can compress margins and force heavier discounting. Its results also depend on state-specific regulatory changes, supply availability, and the timing of adult-use transitions, while the federal legal status of cannabis continues to create structural industry risk.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Federal cannabis legal status1Competitive pricing pressure2State-level regulatory and licensing risk3Supply availability and operational disruption4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Federal cannabis legal statusVaikutus: KorkeaTodennäköisyys: Korkea

    Cannabis remains federally restricted in the U.S., which can affect banking, taxes, and capital access.

    Kohdistuu: Liquidity and compliance

  2. Competitive pricing pressureVaikutus: KorkeaTodennäköisyys: Matala

    The company operates in fragmented state markets where rivals can match or undercut prices, forcing discounting.

    Kohdistuu: Retail margins and gross profit

  3. State-level regulatory and licensing riskVaikutus: KorkeaTodennäköisyys: Matala

    Cannabis operations depend on state rules, license limits, and conversion timelines that can change quickly.

    Kohdistuu: Market access and expansion plans

  4. Supply availability and operational disruptionVaikutus: KeskitasoTodennäköisyys: Matala

    Wholesale and retail performance can be affected when product is diverted to stores or when tracking/system changes delay shipments.

    Kohdistuu: Wholesale revenue and customer service

Kysy Clarifolta: Jushi Holdings Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue mix and timing

Retail and wholesale revenue can shift materially based on supply allocation and store openings, affecting comparability.

Vaikutus: Quarterly revenue and margin volatility

Inventory costing

Higher production costs from prior periods can flow into current cost of sales as inventory turns.

Vaikutus: Gross margin

Lease accounting

Dispensaries and cultivation sites are typically leased, creating right-of-use assets and lease liabilities.

Vaikutus: Balance sheet leverage and operating expense presentation

Impairment of licenses and long-lived assets

State market conditions and pricing pressure can reduce expected cash flows and trigger impairment reviews.

Vaikutus: Operating results and asset values

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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VRNO · Agricultural Production-Crops

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CHUC · Medicinal Chemicals & Botanical Products

Trulieve Cannabis Corp.

TRLV · Medicinal Chemicals & Botanical Products

Marimed Inc.

MRMD · Medicinal Chemicals & Botanical Products

iANTHUS Capital Holdings, Inc.

ITHUF · Agricultural Production-Crops

Planet 13 Holdings Inc.

PLNH · Agricultural Production-Crops

Päivitetty: 24.9.2026

Jushi Holdings Inc. (OTC) – Medicinal Chemicals & Botanical Products | Analyysi – Clarifo