Jushi Holdings (CSE: JUSH) (OTCQX: JUSHF) - Investor Dashboard


Jushi Holdings
CSE Ticker: JUSH
OTCQX Ticker: JUSHF
Market Focus: United States
Classification: Vertically Integrated
Country: United States
Employees: 1,347 (Mar 2022)
Established: Jan 2018
CEO: Jim Cacioppo

Summary

Fiscal Year-End: Dec, 31
Auditor: Marcum, LLP
Exchanges: CSE, OTCQX
Sector:  Consumer Staples
State operations: 7
Headquarters: Boca Raton, FL

Financials (03/31/22)

Cash on hand: $75.7 million
Fixed Investment: $260.5 million
Shareholders’ Equity: $201.9 million
Revenues – Last Quarter: $61.9 million
Adj. Gross Margin : 32.1%
Diluted EPS : -$0.13

Capital Structure (03/31/22)

Last Financing: 3.7 million shares at $3.68
Shares: 194.5 million
Warrants:  65.5 million
Options:  20.5 million
Diluted Shares: 280.5 million

Company Brief

Jushi Holdings Inc. (Follow Company) is a vertically integrated multi-state cannabis operator across the United States. The vertically integrated company operates a diverse portfolio of branded cannabis assets, built upon opportunistic acquisitions, distressed deals and competitive applications.

Operating under the Jushi umbrella is the BEYOND / HELLO™  and Nature’s Remedy of Massachusetts, Inc. retail brands of cannabis dispensaries. The Company debuted a comprehensive suite of cannabis brands across multiple states including its award-winning brand, The Lab which offers vape products and concentrates and the award-winning brand, The Bank offering pre-packaged flower and infused blunts. The Company also introduced the following new products: Tasteology for edibles, Nira + Medicinals for THC and CBD-rich medical products, and Sèchè for fine flower and pre-rolls to address a wide variety of consumer needs. Jushi strives to maximize shareholder value while delivering high premium products across all levels of the cannabis ecosystem.

 Investor Update: March 2022


Highlights

  • Raised roughly $461 million since inception
  • Approximately $47 million contributed by Founders/Insiders
  • Cannabis assets in PA, IL, VA, MA, CA, NV and OH
  • 33 stores open,  approximately 50 planned by YE 20221, six cultivation facilities and six extraction and processing facilities
  • Q4 2022 revenue on an annualized basis to be between $340 to $380 million and Adjusted EBITDA to be between $60 to $80 million
  • Brand portfolio including The Bank, The Lab, Tasteology, Sèchè, Nira+ and Nira

1. Targets based on ongoing applications and potential M&A, and not based on new disclosures or undisclosed purchases

Growth Strategy

  • Building a multi-state portfolio of branded cannabis assets through acquisitions, competitive licenses, and expansion within current markets
  • Built out its Pennsylvania retail footprint to 18 dispensaries and leveraging its closed acquisition of a Pennsylvania Grower-Processor to supply the wholesale market including its own retail stores
  • Operating four adult-use stores plus Jushi’s partner was awarded a conditional retail dispensary license in Illinois
  • Owning one of five licenses in Virginia with the anticipation of adding five additional BEYOND/HELLO™ branded medical dispensaries to its Dalitso LLC operations near Prince William County, which became operational in December 2020
  • Operating two high-performing retail dispensaries, along with a 50,000 square-foot cultivation and production facility in Massachusetts
  • Targeting acquisition opportunities in limited licenses markets to become vertically integrated in markets with high barriers of entry
  • Applying for de novo licenses for additional avenues of growth in its existing markets and other key markets
  • Plans to increase dispensary count to ~50 by the end of 20221
  • Increasing its offerings of branded product lines
  • Secured $100 million credit facility to fund acquisitions

Differentiators

  • Industry-leading organic revenue
  • Integrated, metrics-driven business with seamless integration between online and retail
  • Best-in-class M&A track record
  • Experienced management team with proven track record of allocating and raising capital and identifying distressed assets
  • Focused portfolio of assets targeted at high-growth medical (PA,VA, OH) and adult-use markets (IL, NV, CA, MA)
  • Solid balance sheet; expansion plans fully funded
  • Early focus on environmental, social and governance (ESG) principles

Brand Overview


Institutional Analyst Coverage

Bobby Burleson
Cannacord Genuity

Pablo Zuanic
Cantor Fitzgerald

Kenric Tyghe
ATB Capital Markets

Jason Zandberg, CFA
PI Financial

Andrew Sample
Echelon Capital Markets

Jonathan DeCourcey
Viridian Capital Advisors

Russell Stanley
Beacon Securities

Ty Collin
Eight Capital

Glenn Mattson
Ladenburg Thalmann & Co. Inc


Curated Stories & News


Visit Jushi Holdings, Inc.
at www.jushico.com.

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