Earnings release
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August 25 , 2021 Jushi Jushi Holdings Inc. Reports Second Quarter 2021 Financial Results Second Quarter 2021 Revenue Increases 14.6 % to $ 47.7 million as Compared to the First Quarter 2021 Net Income of $ 4.8 million , a $ 31.6 million Improvement as Compared to the First Quarter 2021 Reports Adjusted EBITDA ( A ) of $ 4.6 million Updates Full Year 2021 Guidance and Initiates Full Year 2022 Guidance BOCA RATON , Fla . , Aug. 25 , 2021 ( GLOBE NEWSWIRE ) --Jushi Holdings Inc. ( " Jushi " or the " Company ” ) ( CSE : JUSH ) ( OTCQX : JUSHF ) , a vertically integrated , multi - state cannabis operator , announced its financial results for the second quarter 2021 ( " Q2 2021 " ) ended June 30 , 2021 financial results . All financial information is provided in U.S. dollars unless otherwise indicated . Second Quarter 2021 Highlights • Total revenue of $ 47.7 million , an increase of 14.6 % sequentially and 219.7 % year over - year • Gross profit of $ 21.9 million , an increase of 9.2 % sequentially and 193.7 % year - over year • Net income of $ 4.8 million , a $ 31.6 million sequential improvement , was primarily driven by an increase in revenue , gross profit and a gain on fair value derivative liabilities . • Adjusted EBITDA ( A ) of $ 4.6 million , or 9.6 % of revenue $ 126.8 million of cash and short - term investments in securities on the balance sheet as of June 30 , 2021 See " Reconciliation of Non - IFRS Financial Measures " at the end of this press release for more information regarding the Company's use of non - IFRS financial measures . Second Quarter 2021 Operational Highlights • Opened its 19th and 20th BEYOND / HELLOTM retail locations nationwide with its 12th and 13th store in Pennsylvania • Completed the acquisition of 100 % of the equity of Organic Solutions of the Desert , LLC , an operational retail dispensary in Palm Springs , California • Completed the acquisition of the 93,000 sq . ft . facility and surrounding nine acres of land operated by its wholly - owned subsidiary and Virginia based pharmaceutical processor , Dalitso LLC