Alpha-Maven Cannabis Investment Dashboard:

Top Cannabis Investment News, Member Posts, Cannabis Investment Daily Indices and more!

4w ago Cannabis greenmarketreport Views: 172

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) released its financial results for the second quarter of 2021 ending June 30, 2021, with total revenue increasing 219% to $47.7 million over last year. This was a sequential increase of 14.6%. year. Jushi also reported a net income of $4.8 million, which was a $31.6 million sequential improvement. The company said the increase was primarily driven by an increase in revenue, gross profit, and a gain on fair value derivative liabilities. Jushi also gave full-year 2022 guidance for revenues to be between $375 to $425 million and Adjusted EBITDA to be between $110 to $130 million on an IFRS basis. As of June 30, 2021, Jushi had $126.8 million of cash and short-term investments. “I’m very pleased with our performance in the second quarter; we achieved strong sequential revenue growth, industry leading year-over-year revenue growth, and maintained Adjusted EBITDA profitability, while continuing to invest in our strategic growth initiatives,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “With our strong balance sheet we are well positioned to execute on our plans, which includes expanding our national retail footprint as well as building out our cultivation and processing assets to support increased demand from both patients and consumers for our high-quality products.” Jushi said that the net income was $4.8 million, or $0.03 per basic share and a net loss of $(0.09) per diluted share, compared to a net loss of $(26.8) million, or $(0.18) per diluted share in Q1 2021. “The net loss of $(0.09) per diluted share in Q2 2021 was primarily due to the dilutive effects of the derivative warrants as accounted for under IFRS.” The company said that the $31.6 million improvements in net income in the second quarter were primarily driven by the gain on fair value derivative liabilities of $21.1 million. Mr. Cacioppo commented, “Looking ahead to the remainder of the year, we expect to open an additional seven BEYOND/HELLO dispensaries, add two dispensaries and a grower-processor facility in Massachusetts through the acquisition of Nature’s Remedy of Massachusetts and continue to build out our Pennsylvania and Virginia grower-processor facilities, which will fuel our business as we head into 2022.” Mr. Cacioppo added, “Assuming our Massachusetts acquisition closes late in the third quarter, we are revising our full year 2021 revenue guidance range from $205 to $255 million to $220 to $230 million and our 2021 Adjusted EBITDA guidance range from approximately $40 to $50 million to $32 to $37 million.The reduction in Adjusted EBITDA guidance relates to (1) the Virginia market developing slower than we initially forecast, mostly due to flower launching in September versus our assumption in July, the Company pivoting to a larger store format and the timing and regulations associated with the adult use program, which resulted in new store openings being delayed; (2) reducing the flower room capacity at the existing 89,000 square foot Pennsylvania grower-processor facility to accommodate post-harvest expansion related to expanding to a much larger facility than initially anticipated at acquisition in the summer of 2020; and (3) growth in corporate overhead that reflects the opportunity and challenges of the very significant growth associated with the larger than planned grower-processor expansion and the upcoming adult use markets in VA and PA, both of which may happen by 2023.” Jushi Forecasts 2022 Revenues To Range Between $375-$425 Million on Green Market Report. -

Today's Cannabis Investment Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.