E Jushi Holdings' Q3 Financial Results Were Impressive

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Jushi Holdings, Inc. (JUSHF),  a constituent in the munKNEE Pure-Play Pot Stock Index, announced its Q3, 2020 financial and operating results on Tuesday for the period ended September 30, 2020, as follows:

Q3 Financial Highlights 

(All results are presented in USD and compared to the previous quarter.)

  • Revenue: increased 67% to $24.9M 
  • Gross Profit: increased 64% to $12.3M 
  • Net Profit (Loss): loss increased by 222.3% to $(30.0)M 
  • Net Profit (Loss) per Share: loss increased to $(0.31) from $(0.10)
  • Adj. EBITDA: improved to $1.9M from $(1.2)M
  • Cash Equiv. on Hand: $43.2M 

Q3 Operational Highlights

  • Closed equity acquisition of Pennsylvania grower-processor permit holder
  • Closed on an approximate $33 million debt financing of 10 percent senior secured notes and warrants
  • Opened 10th BEYOND/HELLOTM retail location and the 8th Pennsylvania Medical Marijuana dispensary in Reading, Pennsylvania

Management Commentary

Jim Cacioppo, Chief Executive Officer, Chairman, and Founder, said that Jushi has:

  • “...achieved Adjusted EBITDA profitability for the first time in the Company’s history,...
  • continued to see strong momentum in the business as we exited the third quarter, and as a result, we expect to see further expansion in revenue and profitability through the balance of the year.
  • continued to optimize our operations by:
    • allowing more transactions to be fulfilled through our online reservation system at BEYOND-HELLO.com,
    • adding additional point-of-sale stations in our stores in Illinois and Pennsylvania, and
    • leveraging data analytics to offer more targeted promotions.
  • upgraded our talent by adding several new hires in the third quarter with expertise in retail, cultivation, and security...
  • and expect to be able to continue to deliver strong results in the fourth quarter and full-year 2021.”
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William K. 1 month ago Member's comment

An interesting article and an interesting application of "sunshine) by the CEO.