JUSH on OTC

Jushi Holdings Inc.

We are a vertically integrated, multi-state cannabis operator engaged in retail, distribution, cultivation, and processing operations in both medical and adult-use markets.3 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerJUSH on OTC1
  • IndustryMedicinal Chemicals & Botanical Products1
  • HeadquartersBoca Raton, Florida1
  • Incorporated inBritish Columbia, Canada2
  • Business address301 Yamato Road, Suite 3250, Boca Raton, Fl 334312
  • Filer category, Emerging growth company2
  • Legal formCorporation

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We are a vertically integrated, multi-state cannabis operator engaged in retail, distribution, cultivation, and processing operations in both medical and adult-use markets. We are focused on building a diverse portfolio of cannabis assets through opportunistic investments and pursuing application opportunities in attractive limited license jurisdictions. We have targeted assets in highly populated, limited license medical markets that are on a trajectory toward adult-use legalization, including Pennsylvania, markets that are in the process of transitioning to adult use, namely Virginia, and limited license, large adult-use markets, such as Illinois, Massachusetts, Nevada, New Jersey and Ohio, and certain municipalities of California.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

43.4%Gross margin4
1.8%Operating margin4
-26.1%Net margin4
2.1%Revenue growth, 20254
$1.6MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Retail cannabis [member] brought in 90% of the revenue Jushi Holdings Inc. broke down this way in fiscal 2025.

  1. Retail cannabis [member]$235.5M490%up 3% from 2024
  2. Wholesale Cannabis$27.4M410%down 7% from 2024
Products and services by year
Products and services202320242025
Retail cannabis [member]$239.4M$227.9M$235.5M
Wholesale Cannabis$30.1M$29.6M$27.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue51¢$148.9M
  • Selling, general and admin37¢$109.1M
  • Income tax12¢$35.0M

Out of $262.9M in revenue.4 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending91¢$16.1M
  • Kept or used elsewhere9¢$1.6M

Out of $17.7M of cash from operations.4

Financial statements

Revenue564$262.9M in 2025+225% since 2020
0$100.0M$200.0M$300.0M2020: $80.8M$80.8M20202021: $209.3M$209.3M2021+159%2022: $284.3M$284.3M2022+36%2023: $269.4M$269.4M2023−5%2024: $257.5M$257.5M2024−4%2025: $262.9M$262.9M2025+2%
Gross profit564$114.0M in 2025+197% since 2020
0$50.0M$100.0M$150.0M2020: $38.3M$38.3M20202021: $83.4M$83.4M2021+118%2022: $95.5M$95.5M2022+14%2023: $116.2M$116.2M2023+22%2024: $118.3M$118.3M2024+2%2025: $114.0M$114.0M2025−4%
Operating income564$4.9M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M2020: -$16.6M-$16.6M20202021: -$35.8M-$35.8M2021+116%2022: -$220.3M-$220.3M2022+516%2023: -$2.8M-$2.8M2023−99%2024: $10.9M$10.9M20242025: $4.9M$4.9M2025−55%
Net income564-$68.6M in 2025−67% since 2020
-$300.0M-$200.0M-$100.0M0$100.0M2020: -$210.6M-$210.6M20202021: $20.3M$20.3M20212022: -$202.3M-$202.3M20222023: -$65.1M-$65.1M2023−68%2024: -$48.8M-$48.8M2024−25%2025: -$68.6M-$68.6M2025+41%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
REVENUE, NET$262.9M$257.5M$269.4M
COST OF GOODS SOLD-$148.9M-$139.2M-$153.2M
GROSS PROFIT$114.0M$118.3M$116.2M
Selling, general and administrative$109.1M$107.0M$110.5M
Asset impairments$0$432.0K$8.6M
Total operating expenses$109.1M$107.4M$119.0M
INCOME (LOSS) FROM OPERATIONS$4.9M$10.9M-$2.8M
Interest expense, net-$40.8M-$37.4M-$37.0M
Fair value gain (loss) on derivatives-$5.1M$6.3M$9.6M
Other, net$7.5M$3.1M-$3.1M
Total other income (expense), net-$38.5M-$28.0M-$30.5M
LOSS BEFORE INCOME TAX-$33.6M-$17.1M-$33.3M
Income tax expense-$35.0M-$31.6M-$31.8M
NET LOSS-$68.6M-$48.8M-$65.1M
LOSS PER SHARE - BASIC (in dollars per share)-$0.35-$0.25-$0.33
LOSS PER SHARE - DILUTED (in dollars per share)-$0.35-$0.25-$0.33
Weighted average shares outstanding - basic (in shares)195.2M shares195.2M shares194.8M shares
Weighted average shares outstanding - diluted (in shares)195.2M shares195.2M shares194.8M shares

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Leadership

Who has led Jushi Holdings Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. James Cacioppo2022–now

President

  1. Louis Jon Barack2023–now

Chief financial officer

  1. Louis Jon Barack2022
  2. Michelle O. Mosier2023–now

Chief operating officer

  1. Todd West2024
2025
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorPeter Alan Adderton named Dec 22, 202223

Timeline

  1. Aug 12, 2022New chief executive James Cacioppo becomes CEO10

Filings

240 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 51 major events, 85 insider forms, 16 large holders, 2 private raises, 68 other. The latest 20:

  1. Sep 22, 20264 EDGAR
  2. Sep 14, 20264 EDGAR
  3. Sep 3, 2026SCHEDULE 13D/A EDGAR
  4. Sep 2, 20264 EDGAR
  5. Sep 2, 20264 EDGAR
  6. Aug 28, 20264 EDGAR
  7. Aug 28, 20264 EDGAR
  8. Aug 28, 2026S-8 EDGAR
  9. Aug 26, 20264 EDGAR
  10. Aug 4, 20264 EDGAR
  11. Aug 3, 2026EFFECT EDGAR
  12. Aug 3, 2026EFFECT EDGAR
  13. Aug 3, 20264 EDGAR
  14. Jul 31, 2026POS AM EDGAR
  15. Jul 31, 2026POS AM EDGAR
  16. Jul 31, 2026S-8 POS S-8 EDGAR
  17. Jul 31, 20268-K12G3 EDGAR
  18. Jul 28, 202610-Q EDGAR
  19. Jul 28, 20268-K EDGAR
  20. Jun 24, 20268-K EDGAR

The 240 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

21 open-market trades by officers, directors and large owners since October 2021: 21 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 18, 2026Cacioppo JamesChief Executive OfficerBuy20$0.51$10Form 4
Sep 8, 2026Arsenault Denis J.10% ownerBuy15,100$0.62$9.4KForm 4
Sep 3, 2026Arsenault Denis J.10% ownerBuy118,034$0.59$69.6KForm 4
Sep 1, 2026Cacioppo JamesChief Executive OfficerBuy248,000$0.52$129.0KForm 4
Aug 31, 2026Cacioppo JamesChief Executive OfficerBuy71,686$0.51$36.6KForm 4
Aug 31, 2026Barack Louis JonPresidentBuy15,000$0.52$7.8KForm 4
Aug 27, 2026Cacioppo JamesChief Executive OfficerBuy500,000$0.49$245.0KForm 4
Aug 27, 2026Barack Louis JonPresidentBuy30,000$0.50$15.0KForm 4
Aug 26, 2026Cacioppo JamesChief Executive OfficerBuy494,000$0.50$247.0KForm 4
Aug 25, 2026Cacioppo JamesChief Executive OfficerBuy322,000$0.49$157.8KForm 4
Aug 24, 2026Cacioppo JamesChief Executive OfficerBuy384,112$0.48$184.4KForm 4
Aug 4, 2026Barack Louis JonPresidentBuy10,000$0.43$4.3KForm 4
Aug 3, 2026Barack Louis JonPresidentBuy10,000$0.44$4.4KForm 4
Jul 31, 2026Barack Louis JonPresidentBuy6,400$0.42$2.7KForm 4
Jul 30, 2026Barack Louis JonPresidentBuy35,600$0.40$14.1KForm 4
Jun 15, 2026MOSIER MICHELLE OChief Financial OfficerBuy22,000$0.49$10.8KForm 4
Jun 12, 2026MOSIER MICHELLE OChief Financial OfficerBuy3,500$0.49$1.7KForm 4
Nov 14, 2024MOSIER MICHELLE OChief Financial OfficerBuy21,500$0.41$8.8KForm 4
Nov 13, 2024MOSIER MICHELLE OChief Financial OfficerBuy3,666$0.35$1.3KForm 4
Sep 12, 2023MOSIER MICHELLE OChief Financial OfficerBuy30,567$0.70$21.4KForm 4

All 21 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jul 31, 2024Raised $19.4 million in a private offering of securities Form D: 9 investors so far Form D
  2. Dec 7, 2022Raised $32.4 million in a private offering of debt Form D: 34 investors so far Form D

Sources

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