Monitor Q1 2026 for signs of margin sustainability and debt refinancing benefits; the 74% Adjusted EBITDA growth and Virginia adult-use market entry (2027) could drive long-term value despite the EPS miss.
Price Chart
Executive Summary
Jushi Holdings reported Q4 2025 revenue of $68.3 million (3.8% YoY growth) and a net loss of $15.6 million, missing EPS consensus of $-0.06 with actual of $-0.08. Adjusted EBITDA surged 74% YoY to $13.9 million, driven by operational improvements and new store openings. The company refinanced $132.3 million in debt into a $160 million term loan due 2029, extending maturities and strengthening liquidity.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $68.3 million (3.8% YoY growth), missing $66.8M consensus
- EPS: $-0.08 vs. $-0.06 estimate (33.3% miss)
- Adjusted EBITDA: $13.9 million (74% YoY growth), margin improved to 20.4%
- Gross profit margin: 41.9% (up from 38.6% YoY)
- Refinanced $132.3 million in debt into $160 million 12.5% secured term loan due 2029
- Ended year with 42 dispensaries (8 new openings), Jushi-branded sales at 58% of retail revenue
Financial Impact
Revenue grew 3.8% YoY but missed estimates by $1.5 million; net loss widened to $15.6 million despite 74% Adjusted EBITDA growth; full-year revenue up 2.1% to $262.9 million but gross margin declined 3.7% YoY
Risk Factors
- Net loss widened to $15.6 million despite revenue growth
- Full-year gross margin declined 3.7% YoY to 43.4% due to pricing pressure
- High debt load with $193.1 million subject to scheduled repayments
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-002091 |
| Document: f8k_033126.htm | 0001171843-26-002091 |
| Document: 0001171843-26-002091-index-headers.html | 0001171843-26-002091 |
| Document: 0001171843-26-002091-index.html | 0001171843-26-002091 |
| Document: 0001171843-26-002091.txt | 0001171843-26-002091 |
| 8-K Data (Synthetic) | 0001171843-26-002091 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 12w ago | EFFECT | $0.4520 $0.4223 | ▲ +6.57% | ▲ +6.47% | — |
Jun 24, 2026 17w ago | 8-K | $0.4810 $0.4760 | ▼ −1.04% | ▼ −2.47% | — |
Apr 24, 2026 26w ago | 8-K / DEFA14A | $0.5100 $0.5200 | ▲ +1.96% | ▲ +1.05% | — |
Apr 14, 2026 28w ago | 10-K/A | $0.5500 $0.6200 | ▲ +12.73% | ▲ +11.09% | — |
Mar 31, 2026 30w ago | 8-K | $0.5190 $0.5300 | ▲ +2.12% | ▼ −1.65% | — |
US Market Status
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