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Jushi Holdings (JUSH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Jushi Holdings (JUSH) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $70.5M · 18¢ of every $1 of revenue lost · operating margin 5.0%
Jushi Holdings made $70.5M in Q3 2026 (+7% Y/Y): Retail $60.8M, Wholesale $9.7M. Operating margin 5.0%, net loss $12.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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What changed this quarter
Revenue was $70.5M in Q3 2026, up 7% year over year and down 1% from the previous quarter. Retail was the largest line at 86% of revenue. Wholesale added $2.8M year over year (up 40%), 58% of the total change.
Gross margin was 45.9%, down 0.8 points from Q3 2025. Operating profit was $3.5M, a 5.0% margin (up 1.4 points year over year). Of the extra revenue versus Q3 2025, 24% reached operating profit, above the 4% margin then. Operating expenses grew 2% against revenue growth of 7%. The quarter ended with a net loss of $12.5M, wider than the previous quarter's $7.3M loss. Net interest and other expense of $9.2M was the main reason.
Operating cash flow was $3.5M (down 42% year over year). Non-cash charges added back $7.5M of depreciation and amortization and $287K of share-based compensation. Working capital and other items added $8.3M. Capital expenditures of $2.9M left free cash flow of $637K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $70.5M | +7% | 5.0% | −$12.5M | $3.5M |
| Q2 2026 | 10-Q | Jul 28, 2026 | $71.3M | +10% | 1.0% | −$7.3M | $793K |
| Q1 2026 | 10-Q | May 12, 2026 | $66.4M | +4% | 2.4% | −$19.8M | $8.6M |
| Q4 2025 | 10-K | Mar 31, 2026 | $68.3M | +4% | 1.1% | −$15.6M | $6.1M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $65.7M | +7% | 3.6% | −$23.7M | $6.1M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $65.0M | +0.7% | 5.5% | −$12.3M | −$1.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $63.8M | -2% | -2.9% | −$17.0M | $7.5M |
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🔄Rotation against the market and its industry (RRG)interactive
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About Jushi Holdings
We are a vertically integrated, multi-state cannabis operator engaged in retail, distribution, cultivation, and processing operations in both medical and adult-use markets. We are focused on building a diverse portfolio of cannabis assets through opportunistic investments and pursuing application opportunities in attractive limited license jurisdictions. We have targeted assets in highly populated, limited license medical markets that are on a trajectory toward adult-use legalization, including Pennsylvania, markets that are in the process of transitioning to adult use, namely Virginia, and limited license, large adult-use markets, such as Illinois, Massachusetts, Nevada, New Jersey and Ohio, and certain municipalities of California.
In its own words, from its 10-K, filed Mar 31, 2026.
Jushi Holdings against its Medicinal Chemicals & Botanical Products peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +7%. Operating margin: 5.0% against the peers' median 4.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| JUSH Jushi Holdings | Q3 2026 | $70.5M | +7% | 5.0% |
| CURLF Curaleaf Holdings | Q3 2026 | $353M | +11% | 0.8% |
| TLRY Tilray Brands | Q1 FY27 | $257M | +23% | -9.4% |
| TRLV Trulieve Cannabis | Q3 2026 | $230M | -20% | 18.5% |
| USNA Usana Health Sciences | Q2 2026 | $223M | -5% | -9.0% |
| AAWH Ascend Wellness Holdings | Q2 2026 | $126M | -0.9% | 4.2% |
| CRON Cronos Group | Q3 2026 | $83.9M | +72% | 10.8% |
| CGC Canopy Growth | Q2 FY27 | $71.1M | +20% | -23.1% |
| BTMD biote | Q3 2026 | $43.3M | -10% | 5.7% |
Source: Jushi Holdings 10-Q on SEC EDGAR · CIK 1909747 · Medicinal Chemicals & Botanical Products
More on JUSH
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results