| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 70.48 | 1.1% | 7.3% |
| Total Income | 70.48 | 1.1% | 7.3% |
| Expenditure | 66.97 | 5.1% | 5.7% |
| PBT | — | ||
| Net Profit | -12.52 | 70.8% | 47.1% |
| OPM | 4.98% | 3.98pp | 1.42pp |
| NPM | -17.76% | 7.48pp | 18.30pp |
| EPS | -0.06 | 50.0% | 50.0% |
Jushi Holdings Reports Q3 2026 Results: Revenue Up 7% to $70.5 Million
29 Oct 2026 · 2h ago
Summary
Jushi Holdings Inc. announced its third quarter 2026 financial results, with revenue increasing 7% year-over-year to $70.5 million, driven by growth in both wholesale and retail channels. Wholesale revenue set a new quarterly record, up 40% to $9.7 million, while retail revenue grew 3.5% to $60.8 million, with Virginia showing strong performance. Despite pricing pressures impacting gross profit margin, the company reported an Adjusted EBITDA of $13.6 million. Management highlighted continued progress in operating performance and identified Virginia as a significant near-term growth opportunity with preparations underway for adult-use sales.
Key Highlights
- 1
Jushi Holdings Inc. reported third quarter revenue of $70.5 million, an increase of 7% year-over-year.
- 2
Wholesale revenue reached a record $9.7 million, growing 40% year-over-year and marking the second consecutive quarter of record performance.
- 3
Virginia achieved record retail and delivery revenue, with all six dispensaries reporting year-over-year growth.
- 4
Gross profit was $32.3 million, with a gross profit margin of 45.9%, slightly down from 46.7% in the prior year period due to pricing pressures.
- 5
Adjusted EBITDA was $13.6 million, representing a margin of 19.3%, a slight decrease from 19.5% in Q3 2025.
- 6
The company ended the quarter with $30.9 million in cash, cash equivalents, and restricted cash.
Management Comments
Jim Cacioppo
Our third-quarter results reflect continued progress in strengthening our operating performance, with revenue increasing 7% year-over-year to $70.5 million, our second consecutive quarter above $70 million. Wholesale revenue increased 40% to $9.7 million, setting another quarterly record as improved product quality, higher production volumes, and broader distribution strengthened our ability to serve wholesale partners and our own retail network. Retail revenue increased 3.5% year-over-year to $60.8 million, led by Ohio and Virginia. Total units sold across our retail business increased 8.4% year-over-year. Virginia delivered its second consecutive quarter of record retail sales and achieved record home delivery sales, with all six dispensaries reporting year-over-year growth. Although pricing pressure continued across our markets, higher volumes and improved production efficiency supported growth in gross profit. We continue to pursue targeted dispensary relocations to improve store-level sales and profitability. Virginia remains our most significant near-term growth opportunity as we prepare for adult-use sales which are scheduled to begin July 1, 2027. We are advancing cultivation and processing projects, exploring financing alternatives to support these investments, and preparing a retail network originally designed with adult use in mind. We remain focused on liquidity and disciplined capital allocation, with investment decisions guided by regulatory timing and financing availability.
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