Jushi’s Q3 results showed continued revenue growth and record wholesale sales, alongside slightly lower gross and adjusted EBITDA margins. Shares rose 2.8% after earnings, a broadly neutral reaction that does not signal a decisive market verdict.
- Revenue increased 7.3% year over year to $70.5 million, the second consecutive quarter above $70 million.
- Wholesale revenue rose 40% to a quarterly record $9.7 million; retail revenue grew 3.5% to $60.8 million. Retail units sold rose 8.4%, while lower average selling prices weighed on revenue growth.
- Gross profit increased to $32.3 million, but gross margin declined about 80 basis points to 45.9%.
- Adjusted EBITDA rose to $13.6 million, while margin eased to 19.3% from 19.5%. The increase came despite lower employee retention credit income.
- Virginia retail revenue grew 7.6% year over year to a second consecutive quarterly record as Jushi prepares for adult-use sales scheduled to begin July 1, 2027.
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