| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 71.30 | 7.3% | 9.6% |
| Total Income | 71.30 | 7.3% | 9.6% |
| Expenditure | 70.58 | 8.8% | 14.9% |
| PBT | — | ||
| Net Profit | -7.33 | 63.1% | 40.5% |
| OPM | 1.00% | 1.38pp | 4.54pp |
| NPM | -10.28% | 19.60pp | 8.68pp |
| EPS | -0.04 | 60.0% | 33.3% |
Jushi Holdings Inc. Reports Second Quarter 2026 Financial Results
29 Jul 2026 · 29 Jul, 1:37 am
Summary
Jushi Holdings Inc. announced its financial results for the second quarter ended June 30, 2026, reporting a 10% year-over-year increase in revenue to $71.3 million, driven by growth in both retail and wholesale channels. Wholesale revenue hit a record $9.4 million, up 68% year-over-year, while retail revenue increased 4% to $61.9 million. The company also benefited from a $6.4 million income tax benefit due to federal rescheduling of medical marijuana. Management highlighted solid execution, improved operational performance, and significant growth opportunities in Virginia's adult-use market.
Key Highlights
- 1
Jushi Holdings Inc. reported second quarter revenue of $71.3 million, an increase of 10% year-over-year.
- 2
Wholesale revenue reached an all-time quarterly record of $9.4 million, up 68% year-over-year.
- 3
Virginia achieved record quarterly revenue, driven by strong same-store performance across the Company's six-store network.
- 4
The Company recognized a discrete income tax benefit of $6.4 million related to the reassessment of certain deferred tax balances following the rescheduling of state-licensed medical marijuana to Schedule III.
- 5
Jushi-branded product sales grew to 57% of retail revenue in Q2 2026, up from 56% in the second quarter of 2025.
- 6
The Company ended Q2 2026 with forty-two dispensaries in eight states, compared to forty dispensaries in seven states at the end of Q2 2025.
Management Comments
Jim Cacioppo
Our second quarter results reflect solid execution across the business, with revenue increasing 10% year-over-year to $71.3 million with growth across both our retail and wholesale channels. Wholesale revenue increased 68% to an all-time quarterly record of $9.4 million, supported by higher production volumes, improved product quality, and expanded distribution. These results demonstrate the progress we are making in strengthening our operational performance, increasing product availability and expanding our ability to serve both our retail network and wholesale partners. Retail revenue increased 4% year-over-year to $61.9 million, with retail units sold increasing 11.4% despite continued pricing pressure across our markets. Ohio was the largest contributor to retail growth, benefiting from our expanded store base and the continued maturation of our retail network. Virginia also delivered record quarterly revenue, driven by strong same-store performance across our six dispensaries. These results reinforce the strength of our operating platform and the investments we have made in cultivation, product quality, and execution. The quarter also included two important developments that we believe materially improve Jushi’s long-term outlook. The federal rescheduling of state-licensed medical marijuana and the resulting elimination of Section 280E for qualifying activities reduced our income tax burden and resulted in a discrete tax benefit of $6.4 million. In Virginia, the enactment of adult-use legislation creates a significant growth opportunity beginning July 1, 2027. We are advancing our cultivation and processing plans, evaluating disciplined financing alternatives, and leveraging a retail infrastructure that was built with adult-use demand in mind. As we move through the second half of the year, we remain focused on expanding distribution, optimizing our retail portfolio, maintaining liquidity, and deploying capital toward opportunities that can generate attractive long-term returns.
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