Jushi Holdings Inc. JUSH JUSHF boasts unwavering gross profit margins of 40.2% in Q4 2023 and an even more enticing 43.1% for the fiscal year 2023.
Jim Cacioppo, the maestro at the Jushi concert, showcased operational efficiencies and novel product rollouts, harnessing the might of proprietary retail data and consumer insights.
Cacioppo emphasized: “Throughout the year, we unleashed fresh SKUs into the wild, crafted through our proprietary retail data and customer insights. By zeroing in on these jewels during the product gestation phase, we sculpted items that sated the market’s appetite, allowing us to insert more Jushi-branded goodies onto the shelves.”
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Key Monetary Metrics Unveiled for Q4 2023
The tale of Q4 2023 unfolds as Jushi pocketed an aggregate revenue of $67.8 million, with a handsome gross profit of $27.2 million, signaling a commendable 24.0% swell year-over-year.
Nevertheless, the quarter’s denouement showcased a net loss of $18.0 million. Adjusted EBITDA for Q4 2023 clocked in at $11.3 million, bearing a margin of 16.7%.
Moreover, in this chapter, Jushi unfurled a new dispensary in Mount Pocono, Pennsylvania, while deftly tackling around $9.9 million of unsecured debt. The debt-banishing odyssey continued with a $2.4 million ordained payment on first-lien financing.
Key Financial Levers at Play in 2023
For the fiscal curtain call of 2023, Jushi penned a revenue opus totaling $269.4 million, marking a notable 21.7% uptick year-over-year. This era witnessed the liberation of a gross profit symphony amounting to $116.2 million. However, the fiscal ballad culminated in a net loss score of $65.1 million. Adjusted EBITDA strutted its stuff at $40.8 million, with a margin of 15.1%.
Across the fiscal tapestry of 2023, Jushi clinched notable milestones, unfurling 53.4% of total retail revenue from Jushi-branded baubles in Q4 2023. Furthermore, the company birthed 175 fresh, one-of-a-kind SKUs and minted $2.0 million in liquid gold from non-core asset sales.
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Photo: AI-Generated Portrait.
