Jushi Q2 Revenue Declines 8.7% YoY, What About Income?
Portfolio Pulse from Vuk Zdinjak
Jushi Holdings Inc. reported Q2 2023 revenues of $66.4 million, down 8.7% YoY. However, gross profit increased by 14.6% YoY to $30.6 million, and gross profit margin was 46.0%. The company reported a net loss of $14.0 million, compared to a net income of $12.1 million in Q2 2022. Adjusted EBITDA was $12.6 million, up from $500,000 in Q2 2022. The company had approximately $32.1 million in cash and equivalents, and $229.4 million in total debt.
August 11, 2023 | 12:42 pm
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Jushi Holdings reported a decrease in revenue but an increase in gross profit for Q2 2023. The company also reported a net loss.
The decrease in revenue and net loss reported by Jushi Holdings could negatively impact the company's stock price in the short term. However, the increase in gross profit and gross profit margin could be seen as positive signs for the company's profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100