Jushi Holdings Reports 10% Revenue Growth to $71.3 Million in Q2 2026

Jushi Holdings Inc. reported its financial results for the second quarter of 2026, revealing a net revenue of $71.3 million, a 10% increase from $65.0 million in the same period last year. For the first half of 2026, the company generated $137.7 million in revenue, up 7% from $128.9 million in the first half of 2025. The increase in revenue was driven by a 4% rise in retail sales, which reached $61.9 million, and a significant 68% increase in wholesale revenue, totaling $9.4 million. The gross profit for the quarter was $31.5 million, reflecting a gross margin of 44%, consistent with the previous year.

Operating expenses for the second quarter rose to $30.8 million, a 22% increase compared to $25.3 million in the prior year. This rise was attributed to higher salaries, legal expenses, and a non-cash impairment charge of $1.3 million related to certain dispensaries pending relocation. Despite the increase in operating expenses, the company reported an income from operations of $0.7 million, down from $3.6 million in the same quarter last year. The net loss for the quarter was $7.3 million, an improvement from a net loss of $12.3 million in the second quarter of 2025.

In terms of strategic developments, Jushi Holdings is in the process of transitioning its corporate domicile from British Columbia to Nevada, a move approved by shareholders on June 24, 2026. This transition is not expected to materially affect the company's operations. Additionally, the company is preparing for the launch of adult-use cannabis sales in Virginia, which are scheduled to begin on July 1, 2027, following the establishment of a regulated market.

Operationally, Jushi expanded its footprint, ending the quarter with 42 dispensaries across eight states, up from 40 dispensaries in seven states a year earlier. The company reported an increase in customer engagement, with retail sales in Ohio significantly boosted by the opening of three new dispensaries. However, sales in Illinois, Pennsylvania, Massachusetts, and Nevada faced challenges due to competitive pricing pressures and declining average prices per unit sold.

Looking ahead, Jushi Holdings anticipates continued growth driven by the upcoming adult-use market in Virginia and ongoing expansion efforts. The company remains focused on optimizing its operations and managing costs amid competitive pressures in the cannabis industry. The management expressed confidence in the company's ability to meet its working capital needs and capitalize on future opportunities, supported by a cash balance of $35.5 million as of June 30, 2026.