Filing Flows › Jushi Holdings (JUSH) › Q3 2025
Jushi Holdings (JUSH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Jushi Holdings (JUSH) reported revenue of $65.7M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +1% from the quarter before. Operating margin was 3.6%, net loss $23.7M (36.1% of revenue).
Jushi Holdings, Q3 2025: revenue $65.7M (+7% year over year), operating margin 3.6%, net loss $23.7M, operating cash flow $6.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.7M | +1% | +7% |
| Operating profit | $2.3M | -35% | — |
| Net earnings | −$23.7M | — | — |
| Operating cash flow | $6.1M | — | +156% |
| Free cash flow | $1.2M | — | -24% |
What changed
Revenue was $65.7M in Q3 2025, up 7% year over year and up 1% from the previous quarter. Retail was the largest line at 89% of revenue. Retail added $3.3M year over year (up 6%), 82% of the total change.
Gross margin was 46.7%, up 1.2 points from a year earlier. Operating profit was $2.3M, a 3.6% margin (up 3.3 points year over year). Of the extra revenue versus a year earlier, 53% reached operating profit, above the 0% margin then. Operating expenses grew 2% against revenue growth of 7%. The quarter ended with a net loss of $23.7M, wider than the previous quarter's $12.3M loss. Net interest and other expense of $17.2M was the main reason.
Operating cash flow was $6.1M (up 156% year over year). Non-cash charges added back $7.8M of depreciation and amortization and $357K of share-based compensation. Working capital and other items added $21.6M. Capital expenditures of $4.9M left free cash flow of $1.2M.
Questions
What was Jushi Holdings' revenue in the third quarter 2025?
Jushi Holdings (JUSH) reported revenue of $65.7M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +1% from the quarter before.
Was Jushi Holdings profitable in the third quarter 2025?
Operating profit was $2.3M (3.6% of revenue) and net loss $23.7M.
Source: Jushi Holdings 10-Q on SEC EDGAR.