Filing Flows › Jushi Holdings (JUSH) › Q2 2025
Jushi Holdings (JUSH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Jushi Holdings (JUSH) reported revenue of $65.0M for the second quarter 2025 (Q2 2025), +0.7% from a year earlier and +2% from the quarter before. Operating margin was 5.5%, net loss $12.3M (19.0% of revenue).
Jushi Holdings, Q2 2025: revenue $65.0M (+0.7% year over year), operating margin 5.5%, net loss $12.3M, operating cash flow −$1.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.0M | +2% | +0.7% |
| Operating profit | $3.6M | — | — |
| Net earnings | −$12.3M | — | — |
| Operating cash flow | −$1.9M | -126% | — |
What changed
Revenue was $65.0M in Q2 2025, up 1% year over year and up 2% from the previous quarter. Retail was the largest line at 91% of revenue. Retail added $2.4M year over year (up 4%), 543% of the total change. Wholesale declined 26%.
Gross margin was 44.5%, down 5.9 points from a year earlier. Operating profit was $3.6M, a 5.5% margin (down 7.5 points year over year). Operating profit fell $4.8M even though revenue rose $451K versus a year earlier, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 1%. The quarter ended with a net loss of $12.3M, narrower than the previous quarter's $17.0M loss.
Operating cash flow was −$1.9M. Non-cash charges added back $8.0M of depreciation and amortization and $374K of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of $4.1M exceeded it, leaving free cash flow of −$6.1M.
Questions
What was Jushi Holdings' revenue in the second quarter 2025?
Jushi Holdings (JUSH) reported revenue of $65.0M for the second quarter 2025 (Q2 2025), +0.7% from a year earlier and +2% from the quarter before.
Was Jushi Holdings profitable in the second quarter 2025?
Operating profit was $3.6M (5.5% of revenue) and net loss $12.3M.
Source: Jushi Holdings 10-Q on SEC EDGAR.