The following is a summary of the Jushi Holdings Inc. (JUSHF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Jushi Holdings registered a Q1 2024 gross profit of $32.3 million, indicating a gross profit margin of 49%.

• Adjusted EBITDA stood at $13.3 million, reflecting a 20% adjusted EBITDA margin.

• The Q1 revenue base was $65.5 million due to a seasonally weak first quarter and a slowdown from the strong holiday sales in the previous quarter.

• Wholesale revenue shown growth due to a more extensive product lineup, enhanced product potency, and cost competitiveness from product development and optimization.

• The company has decreased debt by over $14.9 million, bringing down debt subject to scheduled repayments to approximately $190.4 million.

Business Progress:

• The DEA is potentially considering rescheduling cannabis, which would facilitate relief from the 280E tax provision and boost market recognition.

• Operational improvements increased yields, enhanced product profiles, and launched higher-margin SKUs.

• There is significant expansion through new dispensaries and the Hello Club loyalty app.

• Jushi's business strategy is geared towards market expansion, focusing on transitions to adult use in Virginia and Pennsylvania.

• Internally expanding presence with Jushi branded products, having made up 54% of store shelves in Q1 with the expectation of further increase.

• Jushi's political involvement is aimed at facilitating transitions to recreational use in states such as Pennsylvania and Virginia.

• Price competitiveness has maintained their market presence despite competition from Maryland and Washington, DC.

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