Jushi projects (Jushi) is a medical cannabis company in the US that produces cannabis oil. The company’s revenues grew by more than a hundred percent in Q2 of this year. The company’s revenue has been growing rapidly over the last two years. Last year, Jushi produced and sold more than $3.5 million worth of cannabis oil. The company’s revenue in the second quarter of this year was $10.9 million, which is more than four times higher than the previous quarter. The company plans to increase its product sales and revenue in the future.

Jushi Projects, Inc. (OTC Pink: JSHIF) (the “Company” or “Jushi”), a cannabis and hemp based engineering and construction service company, focuses on the development, design, and installation of industrial hemp and medicinal marijuana production facilities, primarily in California.

Jushi Projects, Inc. (OTCQB: JSHP) For more information visit: Jushi Projects Q2 Revenue to Increase to $45-48 Million. Read more about jushi revenue and let us know what you think.Jushi Projects Q2 Revenue to Increase to $45-48 Million

Jushi Holdings Inc. announces results for the fourth quarter and full year 2020 and the first quarter of 2021

Jim Cacioppo, CEO, president and founder of Jushi Holdings Inc. (Jushi or the Company) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated multi-state cannabis operator, provides detailed operational updates on the Company’s recent activities and progress, as well as an overview of Jushi’s financial results in Q1 2021.

  • Revenue for the fourth quarter of 2020 increased 29.6% to $32.3 million compared to the third quarter of 2020 ;
  • Revenue for the first quarter of 2021 increased 29.0% to $41.7 million compared to the fourth quarter of 2020;
  • Expected sales and adjusted EBITDA for the second quarter of 2021

BOKA RATON, FL, June 09. 20, 2021 (GLOBE NEWSWIRE) – Jushi Holdings Inc. (Jushi or the Company) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated multi-state cannabis operator, announced its financial results for the fourth quarter and full year ended December 31. 2020 and financial results for the first quarter of 2021 as of December 31. 2020. March 2021 announced. All financial information is expressed in U.S. dollars unless otherwise indicated. Key indicators for the fourth quarter of 2020

  • Total revenues increased 29.6% from the previous quarter to $32.3 million.
  • Gross profit was $19.2 million, an increase of 56.6% over the prior year.
  • Net loss of $156.7 million primarily due to fair value losses on warrant derivative liabilities.
  • Adjusted EBITDA1 of $2.6 million.

Key figures for the full year 2020

  • Total revenues increased from the prior year by 689.6% to $80.8 million.
  • Gross profit was $43.1 million, up 793.0% from the prior year.
  • Net loss of $211.9 million primarily due to fair value losses on warrant derivative liabilities.
  • Adjusted EBITDA1 loss of $3.0 million.

Key indicators for the first quarter of 2021

  • Total revenues were $41.7 million, a 29.0% increase over the prior year.
  • Gross profit was $20.1 million, up 4.7% from the prior year.
  • Net loss of $26.8 million primarily due to fair value losses on warrant derivatives, income taxes, interest expense and financing costs.
  • Adjusted EBITDA1 of $3.0 million.
  • 167.9 million of cash and cash equivalents and short-term investments in marketable securities on the balance sheet at 31. March 2021

1 See the reconciliation of non-IFRS measures at the end of this press release for more information on the Company’s use of non-IFRS measures. Adjusted EBITDA, which is a non-IFRS measure, excludes certain elements that are further explained in the accompanying reconciliation of non-IFRS measures and reconciled to the most comparable IFRS measure. Latest events

  • The company announced that on June 11, 2021, its 20th anniversary. BEYOND/HELLOTM national and are 13th. Pennsylvania store.
  • Opening of the 19th. BEYOND/HELLOTM across the country and from 12. Pennsylvania Store
  • Completed the acquisition of a 93,000 square foot facility and nine acres of adjacent land owned by Dalitso LLC, a Virginia-based subsidiary that processes pharmaceutical products.
  • Acquisition of a 100% interest in Organic Solutions of the Desert, LLC, a pharmacy in Palm Springs, California, and an approximate 78% interest in a retail licensee in Grover Beach, California, with the right to acquire the remaining interest in the future
  • Signed a definitive agreement to acquire OhiGrow, LLC, one of 34 licensed growers in Ohio, and Ohio Green Grow LLC (collectively referred to as OhiGrow).
  • Signing of a definitive agreement to acquire Nature’s Remedy of Massachusetts, Inc. a vertically integrated, Massachusetts-based operator of two adult pharmacies and a 50,000 square foot cultivation and manufacturing facility.
  • Completion of previously announced acquisition of a well-known operator in Nevada
  • The first phase of a previously announced expansion project at an agricultural processing plant in Pennsylvania has begun.

Financial results for the fourth quarter and full year 2020 The following tables and notes summarize revenue, gross profit, net income (loss) and net income (loss) per share for the three-month periods ended December 31, 2004 and 2004. December 2020 and September 30, 2020 and for the twelve-month periods ended September 31, 2020. December 2020 and September 31, 2020. December 2019. (dollars in millions, except per share amounts) Jushi Projects Q2 Revenue to Increase to $45-48 Million Revenue for the fourth quarter of 2020 (Q4 2020) increased 29.6% to $32.3 million from $24.9 million in the third quarter of 2020 (Q3 2020). For the full year 2020, revenues increased 689.6% to $80.8 million from $10.2 million in 2019. In the fourth quarter of 2020, the increase in sales was primarily due to strong organic growth in the BEYOND/HELLOTM stores in Pennsylvania and Illinois, increased cultivation and manufacturing activity as a result of the acquisition of Pennsylvania Medical Solutions, LLC (PAMS), the cultivation and processing licensee in Pennsylvania, and increased cultivation and processing activity in Nevada. For the full year 2020, revenue growth was primarily driven by the expansion of the Company’s retail portfolio, including the opening of nine new stores during the year, as well as an increase in wholesale sales resulting from the acquisition of PAMS and increased grower and processor activity in Nevada. Gross margin for the fourth quarter of 2020 was $19.2 million, or 59.4% of sales, compared to $12.3 million, or 49.2% of sales, for the third quarter of 2020. For the full year 2020, gross profit was $43.1 million, or 53.3% of revenues, compared to $4.8 million, or 47.2% of revenues, in 2019. The increase in gross profit is primarily due to an increase in sales and an increase in unrealized gain on biological assets. Net Loss in Q4 Net loss in Q3 2020 was $156.7 million, or $1.35 per diluted share, compared to a net loss of $30.0 million, or $0.31 per diluted share, in Q3 2020. Quarter 2020. The $126.7 million increase in net loss in the fourth quarter was primarily due to an increase in derivative warrant debt as a result of the Company’s higher stock price and higher operating expenses, partially offset by higher revenues and gross profit. Net loss for the full year 2020 was $211.9 million, or $2.11 per diluted share, compared to a net loss of $30.8 million, or $0.37 per diluted share, in 2019. Adjusted EBITDA1 for the fourth quarter of 2020 was $2.6 million, or 8.2% of sales, compared to adjusted EBITDA of $1.9 million, or 7.7% of sales, in the third quarter of 2020. Adjusted EBITDA1 for the year 2020 was negative $2.6 million. The improvement in adjusted EBITDA was driven by significant organic growth in the BEYOND/HELLOTM stores in Pennsylvania and Illinois, as well as the primary contribution from the recently acquired Pennsylvania Medical Solutions, LLC (PAMS), a licensed cultivator and processor in Pennsylvania, partially offset by higher personnel costs pending the full start-up and revenue generation of certain facilities. Financial results for the first quarter ended 31 December 2021 The following tables and commentary summarize revenue, gross profit, net income (loss) and net income (loss) per share for the three-month period ended March 31, 2021 and for the three-month period ended March 31, 2021. December 2020. (dollars in millions, except per share amounts) Jushi Projects Q2 Revenue to Increase to $45-48 Million Revenue for the first quarter of 2021 (Q1 2021) increased 29.0% to $41.7 million from $32.3 million in Q4 2020. The 29.0% increase in revenues is primarily due to strong revenue growth in the BEYOND/HELLOTM markets in Pennsylvania and Illinois, an early increase in revenue from retail operations in Virginia, and increased activity in the PAMS and Nevada facilities. Gross margin for the first quarter of 2021 was $20.1 million, or 48.2% of sales, compared to $19.2 million, or 59.4% of sales, in the fourth quarter of 2020. The increase in gross profit was primarily due to strong sales growth in the BEYOND/HELLOTM stores in Pennsylvania and Illinois, early sales growth in the Virginia retail business, and increased activity in the PAMC and Nevada stores. Net loss for the first quarter of 2021 was $26.8 million, or $0.18 per diluted share, compared to a net loss of $156.7 million, or $1.35 per diluted share, in the fourth quarter of 2020. The $129.9 million improvement in net loss in the first quarter was primarily due to lower fair value losses on derivative liabilities and higher revenues and gross profit. Adjusted EBITDA1 for the first quarter of 2021 was $3.0 million, compared to adjusted EBITDA of $2.6 million in the fourth quarter of 2020. The increase in adjusted EBITDA on a sequential quarterly basis was due to higher sales and gross margin, partially offset by higher personnel costs related to the opening of new stores, an increase in our pre-operational staff at our Ohio facility and the expansion of our agricultural processing facilities in Pennsylvania and Virginia. Balance sheet and liquidity As of 31. At March 2021, the Company had $167.9 million in cash and short-term investments. Total current assets are $197.0 million and current liabilities are $49.6 million at December 31. March 2021. Net working capital at December 31, 2021 was $147.3 million. In the first quarter of 2021, the Company invested approximately $9 million in cash. The Company expects capital expenditures in 2021 to be between $90 million and $110 million, depending on changing market conditions and regulatory requirements. As of 31. At March 2021, the Company had total debt of $82.4 million, excluding lease and capital financing obligations. Outlook For the second quarter of 2021, we expect revenue between $45 million and $48 million and adjusted EBITDA between $4 million and $6 million.

Jim Cacioppo, CEO, president and founder of Jushi Holdings Inc.

Jushi Projects Q2 Revenue to Increase to $45-48 Million We remain confident that our strong momentum, enviable footprint and solid balance sheet will enable the company to successfully execute its current plans and create long-term shareholder value through 2021 and beyond. The Company’s MD&A and consolidated financial statements for the first quarter ended March 31, 2021, and all prior public filings of the Company are available on SEDAR atwww.SEDAR.com. Information about conference calls and webcasts Management will be present for a conference call and audio webcast on Wednesday, June 2 at 9:00 a.m. and answer questions about the company’s production and financial results. The dial-in numbers for the conference are +1-877-407-0792 (toll free in the US) or +1-201-689-8263 (international). Call in 10-15 minutes before the conference call and the operator will note your name and organization. The conference call will also be available via webcast, which can be accessed through Jushi’s website at Investor Relations,http://ir.jushico.com/. For interested parties unable to participate in the conference call, an audio recording of the broadcast will be available on Jushi’s investor relations website athttp://ir.jushico.com/. About Jushi Holdings Inc. We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a portfolio of cannabis brand assets in several states through opportunistic acquisitions, distress sales and competitive auctions. Jushi is committed to maximizing shareholder value by providing high quality products at all levels of the cannabis ecosystem. For more information, visit jushico.com/, twitter.com/wearejushi and beyond-hello.com/. Jushi Projects Q2 Revenue to Increase to $45-48 Million Jushi Projects Q2 Revenue to Increase to $45-48 Million Jushi Projects Q2 Revenue to Increase to $45-48 Million JUSHI HOLDINGS INC. ÜBERLEITUNG DER NICHT-IFRS-FINANZKENNZAHLEN EBITDA and adjusted EBITDA are non-IFRS financial measures. Management believes that EBITDA is a useful measure for evaluating the Company’s performance because it reflects meaningful operating performance by excluding the impact of costs not reflected in our operating results. Management defines EBITDA as net income (loss) or earnings before interest, income taxes, depreciation and amortization. We believe adjusted EBITDA is a useful measure of the Company’s performance because it provides a more meaningful measure of operating performance by excluding the impact of costs that do not reflect the Company’s operating performance and other one-time or non-recurring costs. We define adjusted EBITDA as EBITDA before: (i) changes in fair value of inventory sold and changes in fair value of biological assets; (ii) equity compensation expense; (iii) changes in fair value of derivative instruments; (iv) net gains on business combinations ; (v) gains and losses on investments and financial assets; (vi) net losses on changes in bonds and warrants; (vii) gains and losses on valuations; (viii) pre-acquisition costs; (ix) listing costs; and (x) goodwill impairment. The financial measures above are measures adjusted against IFRS net income (loss) to provide readers with a standardized measure that makes comparison to the overall cannabis industry more meaningful and to remove one-time, non-recurring items that would otherwise distort IFRS net income. Other companies in the industry in which Jushi operates may calculate this measure differently, limiting its usefulness as a comparative measure. Adjusted EBITDA is not an IFRS recognized performance measure, has no standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is included in the supplemental information because we believe this measure is a better measure of the Company’s current performance by excluding certain significant non-cash items and other adjustments that we believe are not representative of the Company’s current operations and performance. Adjusted EBITDA has limitations as an analytical tool because it excludes from reported net income interest, taxes, depreciation and amortization, non-cash expenses, RTO expenses, other income, biological asset growing costs and unrealized inventory, as well as the non-cash effect of the fair value of biological asset and inventory accounting. Due to these limitations, Adjusted EBITDA should not be considered the sole indicator of the Company’s performance and should not be considered in isolation or as a substitute for an analysis of the Company’s results as reported under IFRS. The most comparable measure of adjusted EBITDA under IFRS is operating profit (loss). Jushi counts a store as the same store stock when the store has been in operation for two full consecutive quarters. A shop is not included in the turnover of the same shop if it was closed for a week or more during the specified period, for example during a business interruption, restructuring. The increase in retail sales is mainly due to a change in the number of customer transactions and a change in the average transaction size. The increase in same-store sales at Jushi was primarily influenced by greater brand awareness, constant menu updates and the use of technology. Jushi’s revenue growth is also influenced by external factors, including the macroeconomic situation, which may affect consumer spending. Jushi Projects Q2 Revenue to Increase to $45-48 Million Original press release For the latest information on Jushi Holdings, visit the company’s sponsored investor panel. Stay ahead of the crowd by subscribing to 420 Investor, the largest and most comprehensive subscription service for cannabis dealers and investors since 2013. Jushi Projects Q2 Revenue to Increase to $45-48 Million Jushi Projects Q2 Revenue to Increase to $45-48 Million New Cannabis Ventures is committed to gathering quality content and information about leading cannabis companies to help our readers filter through the noise and stay informed about the most important news in the field. Do you have sensitive information? Please contact us.

 

Jushi Projects (Jushi = “a Buddhist name for the Buddha, and for the concept of enlightenment”) was founded in early 2017 by a group of entrepreneurs from the cannabis industry. Jushi’s flagship product is Jushi Wax, a high-quality cannabis-infused wax that can be applied to any surface and easily removed. The wax is made from a combination of Whole-Earth Hemp Oil and Cannabidiol.. Read more about jushi investor relations and let us know what you think.

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