| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 66.43 | 4.0% |
| Total Income | 66.43 | 4.0% |
| Expenditure | 64.85 | 1.3% |
| PBT | — | |
| Net Profit | -19.85 | 16.6% |
| OPM | 2.38% | 5.31pp |
| NPM | -29.88% | 3.23pp |
| EPS | -0.10 | 11.1% |
Jushi Holdings Reports Q1 2026 Revenue of $66.4 million, Up 4% Y-o-Y
13 May 2026 · 13 May, 1:42 am
Summary
Jushi Holdings Inc. reported a revenue increase of 4% year-over-year to $66.4 million for Q1 2026, driven by wholesale growth and retail expansion. Gross profit margin improved significantly to 45.0%, reflecting better operational performance. The company refinanced its debt, enhancing liquidity and extending maturities. Management remains focused on operational excellence, optimizing the retail footprint, and monitoring regulatory developments for future growth opportunities.
Key Highlights
- 1
Jushi Holdings Inc. reported revenue of $66.4 million, up 4% year-over-year, driven by strong wholesale growth and benefits from retail expansion in Q1 2026.
- 2
Gross profit margin expanded by 460 bps year-over-year to 45.0% in Q1 2026, reflecting improved operational performance at grower-processor facilities.
- 3
The company completed a strategic refinancing, strengthening liquidity and positioning the company for long-term growth.
- 4
Jushi-branded product sales grew to 58% of retail revenue in Q1 2026 across the Company’s five vertical markets, compared to 56% in first quarter of 2025.
- 5
Net cash flows provided by operations was $8.6 million during Q1 2026, as compared to $7.5 million during Q1 2025.
- 6
The company ended Q1 2026 with forty-two dispensaries in eight states, as compared to forty in seven states at the end of Q1 2025.
- 7
Adjusted EBITDA for Q1 2026 was $11.4 million with an Adjusted EBITDA margin of 17.2%.
Management Comments
Jim Cacioppo
“Our first quarter results reflect continued progress in executing our strategy, with year-over-year revenue growth and meaningful margin expansion driven by improvements in operational performance and product quality." “Across our grower-processor network, operational efficiencies and increased production volumes are supporting both our retail and wholesale channels, contributing to stronger gross profit and a 460 basis point expansion in gross profit margin year-over-year. While pricing pressure persists across certain markets, our focus on efficiency, product quality, and disciplined execution continues to drive improved performance.” “Our retail business benefited from contributions from our retail expansion in Ohio and strong performance across our Virginia footprint, while wholesale revenue growth was driven by increased distribution, higher production capacity, and strong demand in key markets such as Massachusetts and Ohio. We also continued to advance our branded product strategy, with Jushi-branded products representing approximately 58% of retail sales in our vertical markets, reflecting ongoing mix shift into higher quality brands and continued portfolio expansion.” “During the quarter, we strengthened our balance sheet through the successful refinancing of our 2024 Term Loan and Second Lien Notes, enhancing liquidity and extending maturities while preserving balance sheet flexibility. Additionally, the recent federal rescheduling of state-licensed medical marijuana to Schedule III represents a significant milestone for the industry, eliminating 280E tax constraints for medical operations and supporting a more favorable long-term operating environment. Looking ahead, we remain focused on operational excellence, optimizing our retail footprint, and making targeted, high-return investments across our facilities. At the same time, we continue to monitor regulatory developments across our markets, which we believe will play an important role in shaping future growth opportunities. With a strong operational foundation and improved financial flexibility, we are well positioned to drive sustainable growth and long-term value creation.”
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