Jushi (JUSHF) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	000-56468
Entity Registrant Name	JUSHI HOLDINGS INC.
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	98-1547061
Entity Address, Address Line One	301 Yamato Road
Entity Address, Address Line Two	Suite 3250
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
City Area Code	561
Local Phone Number	617-9100
Entity Address, Postal Zip Code	33431
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		196,643,264
Entity Central Index Key	0001909747
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 25,286	$ 26,027
Restricted cash - current	3,128	3,128
Accounts receivable, net	3,186	3,380
Inventory, net	36,665	33,586
Prepaid expenses and other current assets	14,736	15,514
Total current assets	83,001	81,635
NON-CURRENT ASSETS:
Property, plant and equipment, net	154,141	159,268
Right-of-use assets - finance leases	62,098	63,107
Other intangible assets, net	95,224	95,967
Goodwill	30,910	30,910
Other non-current assets	30,324	30,358
Restricted cash - non-current	2,150	2,150
Total non-current assets	374,847	381,760
Total assets	457,848	463,395
CURRENT LIABILITIES:
Accounts payable	16,913	15,383
Accrued expenses and other current liabilities	43,150	44,070
Income tax payable	8,010	5,190
Debt, net - current portion (including related party principal amounts of $3,225 and $3,298 as of March 31, 2024 and December 31, 2023, respectively)	79,877	86,514
Finance lease obligations - current	9,121	8,885
Derivative liabilities - current	7,224	2,418
Total current liabilities	164,295	162,460
NON-CURRENT LIABILITIES:
Debt, net - non-current (including related party principal amounts of $19,493 and $19,788 as of March 31, 2024 and December 31, 2023, respectively)	127,180	126,041
Finance lease obligations - non-current	52,283	52,839
Derivative liabilities - non-current	513	220
Unrecognized tax benefits	109,204	100,343
Other liabilities - non-current	27,958	29,111
Total non-current liabilities	317,138	308,554
Total liabilities	481,433	471,014
COMMITMENTS AND CONTINGENCIES (Note 18)
EQUITY (DEFICIT):
Common stock, no par value: authorized shares - unlimited; issued and outstanding shares - $196,634,931 and $196,631,598 Subordinate Voting Shares as of March 31, 2024 and December 31, 2023, respectively	0	0
Paid-in capital	506,001	503,612
Accumulated deficit	(528,199)	(509,844)
Total Jushi shareholders' deficit	(22,198)	(6,232)
Non-controlling interests	(1,387)	(1,387)
Total deficit	(23,585)	(7,619)
Total liabilities and equity (deficit)	$ 457,848	$ 463,395

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt, net - current portion	$ 79,877	$ 86,514
Debt, net - non-current portion	$ 127,180	$ 126,041
Subordinate Voting Shares
Common stock, issued (in shares)	196,634,931	196,631,598
Common stock, outstanding (in shares)	196,634,931	196,631,598
Related Party
Debt, net - current portion	$ 3,225	$ 3,298
Debt, net - non-current portion	$ 19,493	$ 19,788

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
REVENUE, NET	$ 65,459	$ 69,873
COST OF GOODS SOLD	(33,129)	(39,932)
GROSS PROFIT	32,330	29,941
OPERATING EXPENSES	28,211	32,452
INCOME (LOSS) FROM OPERATIONS	4,119	(2,511)
OTHER INCOME (EXPENSE):
Interest expense, net	(9,544)	(8,520)
Fair value gain (loss) on derivatives	(5,100)	8,030
Other, net	1,917	709
Total other income (expense), net	(12,727)	219
LOSS BEFORE INCOME TAX	(8,608)	(2,292)
Income tax expense	(9,747)	(10,148)
NET LOSS AND COMPREHENSIVE LOSS	(18,355)	(12,440)
NET LOSS AND COMPREHENSIVE LOSS	$ (18,355)	$ (12,440)
LOSS PER SHARE - BASIC (in dollars per share)	$ (0.09)	$ (0.06)
Weighted average shares outstanding - basic (in shares)	195,131,642	194,050,835
LOSS PER SHARE - DILUTED (in dollars per share)	$ (0.09)	$ (0.06)
Weighted average shares outstanding - diluted (in shares)	195,131,642	194,050,835

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN (DEFICIT) EQUITY - USD ($) $ in Thousands	Total	Total Jushi Shareholders' Equity (Deficit)	Common Stock Subordinate Voting Shares	Paid-In Capital	Accumulated Deficit	Non-Controlling Interests
Balance at beginning of period (in shares) at Dec. 31, 2022			196,686,372
Balance at beginning of period at Dec. 31, 2022	$ 45,891	$ 47,278		$ 492,020	$ (444,742)	$ (1,387)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares canceled upon forfeiture of restricted stock, net of restricted stock grants (in shares)			(53,001)
Share-based compensation (including related parties)	2,311	2,311		2,311
Net loss	(12,440)	(12,440)			(12,440)
Balance at end of period (in shares) at Mar. 31, 2023			196,633,371
Balance at end of period at Mar. 31, 2023	35,762	37,149		494,331	(457,182)	(1,387)
Balance at beginning of period (in shares) at Dec. 31, 2023			196,631,598
Balance at beginning of period at Dec. 31, 2023	$ (7,619)	(6,232)		503,612	(509,844)	(1,387)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued upon exercise of stock options (in shares)	3,333		3,333
Shares issued upon exercise of stock options	$ 2	2		2
Share-based compensation (including related parties)	1,524	1,524		1,524
Issuance of warrants	863	863		863
Net loss	(18,355)	(18,355)			(18,355)
Balance at end of period (in shares) at Mar. 31, 2024			196,634,931
Balance at end of period at Mar. 31, 2024	$ (23,585)	$ (22,198)		$ 506,001	$ (528,199)	$ (1,387)

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (18,355)	$ (12,440)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization, including amounts in cost of goods sold	6,836	7,335
Share-based compensation	1,524	2,311
Fair value changes in derivatives	5,100	(8,030)
Non-cash interest expense, including amortization of deferred financing costs	1,495	1,731
Deferred income taxes and uncertain tax positions	6,647	355
Gain on debt extinguishment	(399)	0
Other non-cash items, net	(159)	(166)
Changes in operating assets and liabilities:
Accounts receivable	410	(1,210)
Inventory	(3,611)	(4,480)
Prepaid expenses and other current and non-current assets	903	2,989
Accounts payable, accrued expenses and other current liabilities	6,102	8,033
Net cash flows provided by (used in) operating activities	6,493	(3,572)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for property, plant and equipment	(1,077)	(4,542)
Proceeds from sale of property, plant and equipment	334	0
Net cash flows used in investing activities	(743)	(4,542)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options	2	0
Payments on promissory notes	(2,750)	0
Payments on acquisition related credit facility	(2,438)	0
Payments of finance leases	(728)	(844)
Proceeds from mortgage loans	0	1,900
Payments of mortgage loans	(37)	(57)
Proceeds from other financing activities	46	0
Payments of other financing activities	(586)	(668)
Net cash flows (used in) provided by financing activities	(6,491)	331
Effect of currency translation on cash and cash equivalents	0	61
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(741)	(7,722)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	31,305	27,146
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	30,564	19,424
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest (excluding capitalized interest)	7,781	6,951
Cash (received) paid for income taxes	(1,522)	305
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures	1,011	2,804
Right-of-use assets from finance lease liabilities	203	461
Issuance of second lien notes	4,750	750
Warrants issued for debt exchange	$ 863	$ 0

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Jushi Holdings Inc. (the “Company” or “Jushi”) is incorporated under the British Columbia’s Business Corporations Act. The Company is a vertically integrated, multi-state cannabis operator engaged in retail, distribution, cultivation, and processing in both medical and adult-use markets. As of March 31, 2024, Jushi, through its subsidiaries, owns or manages cannabis operations and/or holds licenses in the adult-use and/or medicinal cannabis marketplace in California, Illinois, Massachusetts, Nevada, Ohio, Pennsylvania and Virginia. The Company’s head office is located at 301 Yamato Road, Suite 3250, Boca Raton, Florida 33431, United States of America, and its registered address is Suite 1700, Park Place, 666 Burrard Street, Vancouver, British Columbia V6C 2X8, Canada.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. In the opinion of management, the unaudited consolidated financial statements include all adjustments, of a normal recurring nature, that are necessary to present fairly the financial position, results of operations and cash flows of the Company for the periods, and at the dates, presented. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2023, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on April 1, 2024 (the “2023 Form 10-K”), and was also filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) on April 1, 2024. Consolidated balance sheet information as of December 31, 2023 presented herein is derived from the Company’s audited consolidated financial statements for the year ended December 31, 2023. Going Concern and Liquidity As reflected in the 2023 Form 10-K, the Company used net cash of $3,318 for operating activities for the year ended December 31, 2023, and as of that date, the Company’s current liabilities exceeded its current assets by $80,825. Furthermore, as of March 31, 2024, the Company’s current liabilities exceeded its current assets by $81,294 . Such current liabilities as of March 31, 2024, include aggregate contractual maturities of (i) $57,687 of the Acquisition Facility (as defined below) debt that is to be paid in cash within the next twelve months, absent a refinancing, (ii) $23,747 of debt (including $2,247 of interest and $5,000 of milestone accruals) that are subject to indemnity claims in favor of the Company and not currently expected to be paid in cash within the next twelve months and (iii) $3,225 debt related to Jushi Europe SA (“Jushi Europe”), where the payments are subject to completion of the liquidation of Jushi Europe. Refer to Note 9 - Debt and Note 18 - Commitments and Contingencies for more information. Absent a refinancing of the Acquisition Facility debt, the Company will not meet its obligations within the next year. Management believes that with refinancing of the Acquisition Facility debt, the Company would meet its obligations. As concluded in the 2023 Form 10-K, substantial doubt existed about the Company’s ability to continue as a going concern, and, as a result of the above, substantial doubt continues to exist within the next twelve months from the date these financial statements are issued. The Company has a history of refinancing its debt and management intends to refinance the Acquisition Facility debt before the maturity date. The ability to continue as a going concern is dependent upon future financing. There is no assurance that the Company will be successful in this or any of its endeavors and continue as a going concern. The unaudited consolidated financial statements contained herein have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 in the audited consolidated financial statements and notes thereto for the year ended December 31, 2023, which is included in the 2023 Form 10-K. Except as disclosed below, there have been no material changes to the Company’s significant accounting policies. Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: March 31, 2024 (unaudited) December 31, 2023 Cash and cash equivalents $ 25,286 $ 26,027 Restricted cash - current (1) 3,128 3,128 Restricted cash - non-current (1) 2,150 2,150 Cash, cash equivalents and restricted cash $ 30,564 $ 31,305 (1) Restricted cash primarily relates to the Manassas Mortgage. Subsequent to March 31, 2024, the lender released the entire $3,128 of current restricted cash to the Company. Consequently, such cash is now unrestricted. Refer to Note 9 - Debt and Note 21 - Subsequent Events for more information. Recent Accounting Pronouncements Adoption of New Accounting Standards In June 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-06 Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. This ASU also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share calculation in certain areas. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023, although early adoption is permitted. There was no impact to the consolidated financial statements upon adoption. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The FASB issued guidance requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. To achieve this, an acquirer may assess how the acquiree applied Topic 606 to determine what to record for the acquired revenue contracts. Generally, this should result in an acquirer recognizing and measuring the acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements (if the acquiree prepared financial statements in accordance with generally accepted accounting principles). The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023, although early adoption is permitted. There was no impact to the consolidated financial statements upon adoption. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions . The FASB issued guidance clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023, although early adoption is permitted. There was no impact to the consolidated financial statements upon adoption. In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842): Common Control Arrangements . The FASB issued guidance clarifies the accounting for leasehold improvements associated with common control leases, by requiring that leasehold improvements associated with common control leases be amortized by the lessee over the useful life of the leasehold improvements to the common control group (regardless of the lease term) as long as the lessee controls the use of the underlying asset through a lease. Additionally, leasehold improvements associated with common control leases should be accounted for as a transfer between entities under common control through an adjustment to equity if, and when, the lessee no longer controls the use of the underlying asset. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023. There was no impact to the consolidated financial statements upon adoption. Accounting Standards Issued But Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires two primary enhancements of 1) disaggregated information on a reporting entity’s effective tax rate reconciliation, and 2) information on incomes taxes paid. For public business entities, the new requirement will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the effect of adopting this ASU.

INVENTORY, NET

INVENTORY, NET	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
INVENTORY, NET	3. INVENTORY, NET The components of inventory, net, are as follows: March 31, 2024 (unaudited) December 31, 2023 Cannabis plants $ 4,727 $ 4,478 Harvested cannabis and packaging 10,374 10,994 Total raw materials 15,101 15,472 Work in process 5,439 4,293 Finished goods 16,125 13,821 Total inventory, net $ 36,665 $ 33,586

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	4. PREPAID EXPENSES AND OTHER CURRENT ASSETS The components of prepaid expenses and other current assets are as follows: March 31, 2024 (unaudited) December 31, 2023 Employee retention credit receivable $ 10,140 $ 10,140 Prepaid expenses and deposits 2,337 2,716 Assets held for sale 1,647 1,647 Other current assets 612 1,011 Total prepaid expenses and other current assets $ 14,736 $ 15,514 The Coronavirus Aid, Relief, and Economic Security Act, passed in March 2020 and subsequently amended in 2021, allowed eligible employers to take credits on certain amounts of qualified wages if the Company experienced either a full or partial suspension of operations due to COVID related government orders. During the year ended December 31, 2023, the Company, with guidance from a third-party specialist, determined it was entitled to employee retention credit (“ERC”) claims of $10,140 for previous business interruptions related to COVID and filed for such claims with the Internal Revenue Service (“IRS”). The ERC claims, which will be recognized in the statements of operations and comprehensive income (loss) when the Company receives the refunds of such claims from the IRS, were recorded as deferred income in Accrued expenses and other current liabilities, with an offsetting receivable amount in Prepaid expenses and other current assets within the consolidated balance sheets as of March 31, 2024 and December 31, 2023 . As of December 31, 2023, the Company determined that one of its grower processor facilities located in Nevada, with total carrying v alue of $1,647 , met the criteria to be classified as assets held for sale, and therefore were reclassified from Property, plant and equipment, net to assets held for sale, which is included in Prepaid expenses and other current assets in the consolidated balance sheets. The sale of the grower processor facility is expected to be completed by the end of 2024.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT The components of property, plant and equipment (“PPE”) are as follows: March 31, 2024 (unaudited) December 31, 2023 Buildings and building components $ 88,134 $ 88,527 Land 12,956 12,956 Leasehold improvements 47,589 46,660 Machinery and equipment 27,128 27,050 Furniture, fixtures and office equipment (including computer) 21,870 21,146 Construction-in-process 318 1,968 Property, plant and equipment, gross 197,995 198,307 Less: Accumulated depreciation (43,854) (39,039) Property, plant and equipment, net $ 154,141 $ 159,268 Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use. Depreciation was $4,909 and $4,812 for the three months ended March 31, 2024 and 2023, respectively. Interest expense capitalized to PPE was not material for the three months ended March 31, 2024 and 2023 . As of December 31, 2023, the Company reclassified $1,647 from Property, plant and equipment, net to assets held for sale. Refer to Note 4 - Prepaid Expenses and Other Current Assets for additional information.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	6. ACQUISITIONS Nature’s Remedy In connection with the Company’s acquisition of Nature’s Remedy of Massachusetts, Inc. and certain of its affiliates (collectively, “Nature’s Remedy”), in September 2021 the Company agreed to issue up to an additional $5,000 in Company SVS to Sammartino Investments LLC (“Sammartino”) upon the occurrence or non-occurrence of certain events after the closing date. The payment of the contingent consideration depends on whether or not a competitor (as defined in the definitive acquisition documents) opens a competing dispensary within a certain radius of the Company’s dispensary in Tyngsborough, Massachusetts during the period beginning on the 12-month anniversary of the closing date and ending on the 30-month anniversary of the closing date (the “Milestone Period”). On each monthly anniversary of the closing date during the Milestone Period (beginning on the 13-month anniversary of the closing date), Sammartino shall accrue $278 worth of Company SVS (a “Monthly Milestone Accrual”). On the 18-month, 24-month and 30-month anniversary of the closing date (and provided a competitor has not opened a competing dispensary within a certain radius of the Company’s dispensary in Tyngsborough, Massachusetts), Sammartino is entitled to be issued Company SVS in an amount equal to $1,667 divided by a volume weighted average reference share price. A competitor has not opened a competing dispensary within the stated radius of the Company’s dispensary in Tyngsborough, Massachusetts. Consequently, beginning in March 2023, the Company began recording a liability for the Monthly Milestone Accrual. As of March 31, 2024, $5,000 of Monthly Milestone Accrual was classified as acquisition-related milestone accrual in other current liabilities . As of December 31, 2023, the aggregate contingent consideration liability was $4,984 , of which $4,167 of Monthly Milestone Accrual was classified as acquisition-related milestone accrual in other current liabilities and the remaining $817 was included as short-term contingent consideration liability. As discussed in greater detail in Note 18 - Commitments and Contingencies, on February 28, 2023, the Company informed Sammartino that Sammartino had breached several provisions of the Merger and Membership Interest Purchase Agreement between the Company, Sammartino and certain other parties thereto (as amended, the “MIPA”) and pursuant to the terms of the MIPA the Company had elected to offset these damages against (among other things) all present and future Monthly Milestone Accruals (the “Sammartino Matter”).

OTHER NON-CURRENT ASSETS

OTHER NON-CURRENT ASSETS	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER NON-CURRENT ASSETS	7. OTHER NON-CURRENT ASSETS The components of other non-current assets are as follows: March 31, 2024 (unaudited) December 31, 2023 Operating lease assets $ 17,943 $ 18,265 Indemnification assets 7,080 6,906 Net deferred tax assets 2,895 2,772 Deposits and escrows - properties 1,723 1,723 Deposits - equipment 422 422 Equity investment (1) 200 200 Other 61 70 Total other non-current assets $ 30,324 $ 30,358 (1) The Company owns a 23.08% ownership interest in PV Culver City, LLC (“PVLLC”). The Company does not have significant influence over, and the Company does not have the right to vote or participate in the management of PVLLC and therefore the investment is measured at its fair value. Refer to Note 19 - Financial Instruments for more information relating to the fair value of this equity investment as of March 31, 2024

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES The components of accrued expenses and other current liabilities March 31, 2024 (unaudited) December 31, 2023 Deferred income - ERC (1) $ 10,140 $ 10,140 Goods received not invoiced 5,268 5,019 Accrued employee related expenses and liabilities 5,260 4,175 Acquisition-related milestone accrual (2) 5,000 4,167 Operating lease obligations 4,707 4,693 Accrued interest 4,480 4,106 Accrued sales and excise taxes 2,866 2,388 Deferred revenue (loyalty program) 1,441 1,407 Accrued professional and management fees 698 986 Accrued capital expenditures 100 702 Contingent consideration liabilities (2) — 817 Other accrued expenses and current liabilities 3,190 5,470 Total accrued expenses and other current liabilities $ 43,150 $ 44,070 (1) Refer to Note 4 - Prepaid Expenses and Other Current Assets for more information. (2) Refer to Note 6 - Acquisitions for more information .

DEBT

DEBT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT	9. DEBT The components of the Company’s debt are as follows: Effective Interest Rate Maturity Date March 31, 2024 (unaudited) December 31, 2023 Principal amounts: Second Lien Notes 15% December 2026 $ 79,835 $ 75,497 Acquisition Facility 15% December 2024 57,687 60,125 Acquisition-related promissory notes payable 8% - 16% August 2024 - April 2027 25,864 35,716 Mortgage loans 6% - 11% January 2027 - April 2028 29,424 29,456 Total debt subject to scheduled repayments 192,810 200,794 Promissory notes payable to Sammartino (1) 10% September 2024 - September 2026 21,500 21,500 Jushi Europe debt (2) n/a March 2022 3,225 3,298 Total debt 217,535 225,592 Less: debt issuance costs and original issue discounts (10,478) (13,037) Total debt, net $ 207,057 $ 212,555 Debt, net - current portion $ 79,877 $ 86,514 Debt, net - non-current portion $ 127,180 $ 126,041 (1) This amount is related to the promissory notes issued to Sammartino in connection with the acquisition of Nature's Remedy in September 2021. Any repayment of principal and interest are currently on hold until the resolution of the Sammartino Matter. Refer to Note 18 - Commitments and Contingencies for more information. (2) On February 16, 2022, Jushi Europe filed a notice of over-indebtedness with the Swiss courts. Then, the Swiss courts declared Jushi Europe’s bankruptcy on May 19, 2022. As a result, Jushi Europe updated its corporate name to Jushi Europe SA in liquidation, which is still on-going. This debt balance will be adjusted, including the extinguishment of any outstanding debt, upon the final liquidation of Jushi Europe. Refer to Note 17 - Related Party Transactions for more information. Second Lien Notes On January 24, 2024, the Company entered into two Note Exchange Agreements with holders of approximately $9,850 of the Company’s unsecured debt (the “Existing Notes”). Upon closing of the transactions contemplated in the Note Exchange Agreements (the “Debt Exchange”) on February 6, 2024, the holders of the Existing Notes delivered the Existing Notes to the Company for cancellation, and the Company: (1) issued to certain direct and beneficial holders of the Existing Notes an aggregate of $4,750 principal amount of Second Lien Notes; (2) issued to certain direct and beneficial holders of the Existing Notes fully-detached warrants to purchase an aggregate of 1,800,000 of the Company’s SVS, with each warrant having an exercise price of $1.00 per SVS and an expiration of December 7, 2026; and (3) paid to the direct holders of the Existing Notes an aggregate of $2,750 in cash. Refer to Note 12 - Equity for more information. The Debt Exchange was accounted for as a debt extinguishment, and resulted in the Company recording a non-cash gain on debt extinguishment of $399, which represents the difference between the reacquisition price of the Existing Notes and the net carrying amount of the Existing Notes prior to redemption. This amount was recorded in other income (expenses), net in the consolidated statements of operation and comprehensive income (loss). Mortgage Loans Arlington Mortgage In December 2021, the Company entered into a $6,900 mortgage loan agreement (the “Arlington Mortgage”), which is principally secured by the Company’s retail property in Arlington, Virginia. The Arlington Mortgage bears a fixed interest rate of 5.875% per annum, payable monthly, and will mature in January 2027. Dickson City Mortgage In July 2022, the Company entered into a $2,800 mortgage loan agreement (the “Dickson City Mortgage”), which is principally secured by the Company’s retail property in Dickson City, Pennsylvania. The Dickson City Mortgage matures in July 2027 and bears interest at a variable rate equal to prime rate plus 2%. The interest rate as of March 31, 2024 was 10.5%. Manassas Mortgage In April 2023, the Company entered into a $20,000 mortgage loan agreement (the “Manassas Mortgage”), which is principally secured by the Company’s cultivation and manufacturing facility located in Manassas, Virginia. The Manassas Mortgage bears interest of 8.875% per annum as of March 31, 2024, payable monthly, and will mature in April 2028. The interest rate is variable and determined based on the 30-day average secured overnight financing rate plus 3.55%, with a floor rate of not less than 8.25%. Financial Covenants Acquisition Facility The senior secured credit facility from Roxbury, LP, a portfolio company of SunStream Bancorp Inc., which is a joint venture sponsored by Sundial Growers Inc. (the “Acquisition Facility”), contains certain financial and other covenants with which the Company is required to comply, including covenants related to (i) minimum unrestricted cash and cash equivalents balance and (ii) minimum quarterly revenue. As of March 31, 2024 , the Company was in compliance with all financial covenants contained in the Acquisition Facility. Mortgage loans The Company’s three mortgage loan agreements contain certain financial and other covenants with which the Company is required to comply. As of March 31, 2024, the Company was in compliance with all financial covenants contained in each of the mortgage loan agreements. Annual Maturities As of March 31, 2024, aggregate future scheduled repayments of the Company’s debt are as follows: Remainder of the year 2025 2026 2027 2028 Total Second Lien Notes $ — $ — $ 79,835 $ — $ — $ 79,835 Acquisition Facility 57,687 — — — — 57,687 Acquisition-related promissory notes payable 3,750 — — 22,114 — 25,864 Mortgage loans 438 647 658 9,441 18,240 29,424 Total debt subject to scheduled repayments $ 61,875 $ 647 $ 80,493 $ 31,555 $ 18,240 $ 192,810 The above table excludes the contractual maturities of the Company’s (i) promissory notes payable to Sammartino and (ii) Jushi Europe debt, as the repayments of these two debts are contingent on the resolution of the Sammartino Matter and completion of the liquidation of Jushi Europe, respectively. Refer to Note 18 - Commitments and Contingencies and Note 17 - Related Party Transactions for more information. Specifically, the contractual maturities of (i) the promissory notes payable to Sammartino are as follows: $16,500 in 2024 and $5,000 in 2026 and (ii) Jushi Europe debt of $3,225 was March 2022. Interest Expense Interest expense, net is comprised of the following: Three Months Ended March 31, 2024 2023 Interest expense Interest and accretion - Second Lien Notes $ 2,748 $ 2,344 Interest and accretion - Finance lease liabilities 2,668 2,349 Interest and accretion - Promissory notes 1,374 1,536 Interest and accretion - Acquisition Facility 2,152 2,296 Interest and accretion - Mortgage loans and other financing activities 706 185 Capitalized interest — (188) Total interest expense 9,648 8,522 Interest income (104) (2) Total interest expense, net $ 9,544 $ 8,520

LEASES

LEASES	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
LEASES	10. LEASES The Company leases certain business facilities for corporate, retail and cultivation operations from third parties under lease agreements that specify minimum rentals. In addition, the Company leases certain equipment for use in cultivation and extraction activities. The Company determines whether a contract is or contains a lease at the inception of the c ontract. The expiry dates of the leases, including reasonably certain estimated renewal periods, are between 2024 and 2043. The Company reassesses the likelihood of exercising a renewal option period if there is a significant event or change in circumstances within its control. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides the components of lease cost recognized in the consolidated statements of operations and comprehensive income (loss) for the periods presented. Three Months Ended March 31, 2024 2023 Finance lease cost: Amortization of lease assets $ 1,184 $ 1,590 Interest on lease liabilities 2,668 2,349 Total finance lease cost 3,852 3,939 Operating lease cost 1,326 733 Variable lease cost 36 66 Total lease cost $ 5,214 $ 4,738 Other information related to operating and finance leases as of the balance sheet dates presented are as follows: March 31, 2024 December 31, 2023 (unaudited) Finance Leases Operating Leases Finance Leases Operating Leases Weighted average discount rate 16.08 % 15.15 % 16.09 % 15.09 % Weighted average remaining lease term (in years) 16.4 8.6 16.6 8.7 The maturities of the contractual undiscounted lease liabilities as of March 31, 2024 are as follows: Finance Leases Operating Leases Remainder of year $ 7,319 $ 3,734 2025 10,820 5,772 2026 10,494 5,536 2027 10,002 5,243 2028 10,166 4,842 Thereafter 147,970 19,670 Total lease payments 196,771 44,797 Less: Imputed interest (135,367) (20,658) Total present value of minimum lease payments $ 61,404 $ 24,139 Lease liabilities - current portion $ 9,121 $ 4,707 Lease liabilities - non-current $ 52,283 $ 19,432
LEASES	10. LEASES The Company leases certain business facilities for corporate, retail and cultivation operations from third parties under lease agreements that specify minimum rentals. In addition, the Company leases certain equipment for use in cultivation and extraction activities. The Company determines whether a contract is or contains a lease at the inception of the c ontract. The expiry dates of the leases, including reasonably certain estimated renewal periods, are between 2024 and 2043. The Company reassesses the likelihood of exercising a renewal option period if there is a significant event or change in circumstances within its control. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides the components of lease cost recognized in the consolidated statements of operations and comprehensive income (loss) for the periods presented. Three Months Ended March 31, 2024 2023 Finance lease cost: Amortization of lease assets $ 1,184 $ 1,590 Interest on lease liabilities 2,668 2,349 Total finance lease cost 3,852 3,939 Operating lease cost 1,326 733 Variable lease cost 36 66 Total lease cost $ 5,214 $ 4,738 Other information related to operating and finance leases as of the balance sheet dates presented are as follows: March 31, 2024 December 31, 2023 (unaudited) Finance Leases Operating Leases Finance Leases Operating Leases Weighted average discount rate 16.08 % 15.15 % 16.09 % 15.09 % Weighted average remaining lease term (in years) 16.4 8.6 16.6 8.7 The maturities of the contractual undiscounted lease liabilities as of March 31, 2024 are as follows: Finance Leases Operating Leases Remainder of year $ 7,319 $ 3,734 2025 10,820 5,772 2026 10,494 5,536 2027 10,002 5,243 2028 10,166 4,842 Thereafter 147,970 19,670 Total lease payments 196,771 44,797 Less: Imputed interest (135,367) (20,658) Total present value of minimum lease payments $ 61,404 $ 24,139 Lease liabilities - current portion $ 9,121 $ 4,707 Lease liabilities - non-current $ 52,283 $ 19,432

DERIVATIVE LIABILITIES

DERIVATIVE LIABILITIES	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE LIABILITIES	11. DERIVATIVE LIABILITIES The following table summarizes the change in the Company’s derivative liabilities for the three months ended March 31, 2024 . Total Derivative Liabilities (1) Balance as of January 1, 2024 $ 2,638 Fair value changes 5,100 Balance as of March 31, 2024 $ 7,738 (1) Refer to Note 12 - Equity for the change in number of warrants during the three months ended March 31, 2024. The Company’s derivative liabilities are primarily comprised of derivative warrants (“Derivative Warrants”). These are warrants to purchase SVS of the Company and were previously issued in connection with the Company’s 10% senior secured notes. The Derivative Warrants may be net share settled. As of March 31, 2024 and December 31, 2023, there were 37,862,922 Derivative Warrants outstanding, which consisted of (i) 29,972,000 warrants with exercise price of $1.25 per warrant and expiration date in December 2024, (ii) 5,890,922 warrants with exercise price of $1.00 per warrant and expiration date of December 2024, and (iii) 2,000,000 warrants with an exercise price of $2.086 per warrant and expiration date in December 2026. Derivative Warrants are considered derivative financial liabilities measured at fair value with all gains or losses recognized in profit or loss as the settlement amount for the Derivative Warrants may be adjusted during certain periods for variables that are not inputs to standard pricing models for forward or option equity contracts, i.e., the “fixed for fixed” criteria under ASC 815-40. The estimated fair value of the Derivative Warrants is measured at the end of each reporting period and an adjustment is reflected in fair value changes in derivatives in the consolidated statements of operations and comprehensive income (loss). These are Level 3 recurring fair value measurements. The estimated fair value of the Derivative Warrants was determined using the Black-Scholes model with stock price based on the OTCQX closing price of the Derivative Warrants issue date as of March 31, 2024 and December 31, 2023. The assumptions used in the fair value calculations as of the balance sheet dates presented include the following: March 31, 2024 (unaudited) December 31, 2023 Stock price $0.73 $0.46 Risk-free annual interest rate 4.45% - 5.21% 4.01% - 4.79% Range of estimated possible exercise price $1.00 - $2.086 $1.00 - $2.086 Weighted average volatility 124% 101% Remaining life 0.70 - 2.70 years 1.00 - 2.90 years Forfeiture rate 0% 0% Expected annual dividend yield 0% 0% Volatility was estimated by using a weighting of the Company’s historical volatility. The risk-free interest rate for the expected life of the Derivative Warrants was based on the yield available on government benchmark bonds with an approximate equivalent remaining term. The expected life is based on the contractual term. If any of the assumptions used in the calculation were to increase or decrease, this could result in a material or significant increase or decrease in the estimated fair value of the derivative liability. For example, the following table illustrates an increase or decrease in certain significant assumptions as of the balance sheet dates: As of March 31, 2024 As of December 31, 2023 (unaudited) Input Effect of 10% Increase Effect of 10% Decrease Input Effect of 10% Increase Effect of 10% Decrease Stock price $ 0.73 $ 1,540 $ (1,440) $ 0.46 $ 637 $ (574) Volatility 124 % 1,190 (1,202) 101 % 680 (643)

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
EQUITY	12. EQUITY Authorized, Issued and Outstanding The authorized share capital of the Company consists of an unlimited number of SVS, Multiple Voting Shares, Super Voting Shares, and Preferred Shares. As of March 31, 2024, the Company had 196,634,931 SVS issued and outstanding and no Multiple Voting Shares, Super Voting Shares or Preferred Shares issued and outstanding. Warrants Each warrant entitles the holder to purchase one SVS. Certain warrants may be net share settled. The following table summarizes the status of warrants and related transactions: Non-Derivative (Equity) Warrants (1) Derivative Liabilities Warrants Total Number of Warrants Weighted - Average Exercise Price Balance as of January 1, 2024 49,068,636 37,862,922 86,931,558 $ 1.12 Granted 2,050,000 — 2,050,000 $ 0.97 Balance as of March 31, 2024 51,118,636 37,862,922 88,981,558 $ 1.12 Exercisable as of March 31, 2024 49,083,636 37,862,922 86,946,558 $ 1.12 (1) In February 2024, there were 1,800,000 warrants issued in connection with the Debt Exchange. Refer to Note 9 - Debt for more information. The grant date fair value of the non-derivative warrants issued was determined using the Black-Scholes option-pricing model. The following assumptions were used for the calculation at date of issuance: Weighted average stock price $0.93 Weighted average expected stock price volatility 76.5% Expected annual dividend yield 0% Weighted average expected life of warrants 3.1 years Weighted average risk-free annual interest rate 4.1% Weighted average grant date fair value $0.48 Share-based Payment Award Plans Plan summary and description Under the Company’s 2019 Equity Incentive Plan, as amended, (the “2019 Plan”), non-transferable options to purchase SVS and restricted SVS of the Company may be issued to directors, officers, employees, or consultants of the Company. The 2019 Plan authorizes the issuance of up to 15% (plus an additional 2% inducements for hiring employees and senior management) of the number of outstanding shares of common stock (of all classes) of the Company (the “Share Reserve”). Incentive stock options are limited to the Share Reserve, and the maximum number of incentive awards available for issuance under the 2019 Plan, including additional awards available for certain new hires, was 4,829,392 as of March 31, 2024. Stock Options The stock options issued by the Company are options to purchase SVS of the Company. All stock options issued have been issued to directors and employees under the Company’s 2019 Plan. Such options generally expire ten years from the date of grant and generally vest ratably over three years from the grant date. The options generally may be net share settled. The following table summarizes the status of stock options and related transactions: Number of Stock Options Weighted-Average Per Share Exercise Price Issued and Outstanding as of January 1, 2024 27,653,184 $ 1.40 Granted 1,220,000 $ 0.70 Exercised (3,333) $ 0.60 Cancelled/forfeited/expired (273,166) $ 1.77 Issued and Outstanding as of March 31, 2024 28,596,685 $ 1.36 Exercisable as of March 31, 2024 15,966,391 $ 1.75 The fair value of the stock options granted was determined using the Black-Scholes option-pricing model. The following assumptions were used for the calculation at date of grant: Three Months Ended March 31, 2024 2023 Weighted average stock price $0.70 $0.60 Weighted average expected stock price volatility 77.1% 77.4% Expected annual dividend yield 0% 0% Weighted average expected life 5.1 years 6.2 years Weighted average risk-free annual interest rate 4.3% 3.7% Weighted average grant date fair value $0.46 $0.42 Restricted Stock The Company grants restricted SVS to independent directors, management, former owners of acquired businesses or assets, and to consultants and other employees. The restricted SVS are included in the issued and outstanding SVS, and the fair value of the restricted stock granted was estimated based on the SVS price at grant date. The following table summarizes the status of restricted stock and related transactions: Number of Restricted Subordinate Voting Shares Unvested restricted stock as of January 1, 2024 1,861 Unvested restricted stock as of March 31, 2024 1,861 Generally, restricted stock awards will vest either one-third on each anniversary of service from the vesting start date or will be fully vested on the completion of one year of full service from the vesting start date, depending on the award. Share-based Compensation Cost The components of share-based compensation expense are as follows: Three Months Ended March 31, 2024 2023 Stock options $ 1,355 $ 1,596 Restricted stock 1 200 Warrants 168 515 Total share-based compensation expense $ 1,524 $ 2,311 As of March 31, 2024 , the Company had $4,311 of unrecognized share-based compensation cost related to unvested stock options, restricted stock and warrants, which is expected to be recognized as share-based compensation cost over a weighted average period of 1.5 years.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	13. EARNINGS (LOSS) PER SHARE The reconciliations of the net loss and the weighted average number of shares used in the computations of basic and diluted loss per share are as follows: Three Months Ended March 31, 2024 2023 Numerator: Net loss and comprehensive loss $ (18,355) $ (12,440) Net loss and comprehensive loss - diluted $ (18,355) $ (12,440) Denominator: Weighted-average shares of common stock - basic 195,131,642 194,050,835 Weighted-average shares of common stock - diluted 195,131,642 194,050,835 Loss per common share: Basic $ (0.09) $ (0.06) Diluted $ (0.09) $ (0.06) The following table summarizes weighted average instruments that may, in the future, have a dilutive effect on earnings (loss) per share, but were excluded from consideration in the computation of diluted net loss per share for the three months ended March 31, 2024 and 2023, because the impact of including them would have been anti-dilutive: Three Months Ended March 31, 2024 2023 Stock options 27,653,611 28,615,308 Warrants (derivative liabilities and equity) 88,052,437 85,989,948 Unvested restricted stock awards 1,861 1,120,815 115,707,909 115,726,071

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	14. REVENUE The Company has two revenue streams: (i) retail and (ii) wholesale. The Company’s retail revenues are comprised of cannabis sales from its dispensaries. The Company’s wholesale revenues are comprised of cannabis sales to its wholesale customers for resale through their dispensaries. Any intercompany revenue and costs are eliminated to arrive at consolidated totals. The following table summarizes the Company’s revenue from external customers, disaggregated by revenue stream: Three Months Ended March 31, 2024 2023 Retail $ 57,369 $ 62,311 Wholesale 8,090 7,562 Total revenue, net $ 65,459 $ 69,873

OPERATING EXPENSES

OPERATING EXPENSES	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
OPERATING EXPENSES	15. OPERATING EXPENSES The major components of operating expenses are as follows: Three Months Ended March 31, 2024 2023 Salaries, wages and employee related expenses $ 14,147 $ 16,804 Depreciation and amortization expense 3,278 2,663 Rent and related expenses 2,914 2,893 Professional fees and legal expenses 2,575 2,325 Share-based compensation expense 1,524 2,311 Other expenses (1) 3,773 5,456 Total operating expenses $ 28,211 $ 32,452 (1) Other expenses are primarily comprised of marketing and selling expenses, insurance costs, administrative and licensing fees, software and technology costs, travel, entertainment and conferences and other.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	16. INCOME TAXES The following table summarizes the Company’s income tax expense and effective tax rates for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Loss before income tax $ (8,608) $ (2,292) Income tax expense $ 9,747 $ 10,148 Effective income tax rate 113.2 % 442.8 % The Company has computed its provision for income taxes based on the actual effective rate for the three months ended March 31, 2024 and 2023 as the Company believes this is the best estimate for the annual effective tax rate. Therefore, the Company’s effective income tax rates for the three months ended March 31, 2024 and 2023 are not indicative of the effective income tax rate for each respective fiscal year of 2024 and 2023. The Company’s effective income tax rate is significantly higher than the statutory income tax rates due in part to (i) disallowed expenses under U.S. Internal Revenue Code of 1986, as amended (“IRC”), Section 280E, (ii) change in liability for unrecognized tax benefits, (iii) fair value change of derivatives, (iv) interest and penalties accrual for tax liabilities, and (v) state income taxes. Due to its cannabis operations, the Company is subject to the limitation of IRC Section 280E (“280E”) under which the Company is only allowed to deduct "costs of goods sold". This results in permanent differences between ordinary and necessary business expenses deemed non-allowable under 280E. Therefore, the effective tax rate can be highly variable and may not necessarily correlate with pre-tax income which provides for effective tax rates that are well in excess of statutory tax rates. In connection with the preparation and filing of the fiscal 2022 federal income tax return, the Company changed its previous application of 280E to exclude certain parts of its business. However, since the Company’s new tax position on 280E may be challenged by the IRS, the Company elected to treat the deductibility of these related expenses as an uncertain tax position. As of March 31, 2024 and December 31, 2023, the balances in income tax payable and unrecognized tax benefits on the consolidated balance sheets include the impact of the new tax position on 280E, which decreased current liabilities with a corresponding increase in non-current liabilities. There was no material impact to the consolidated statements of operations and comprehensive income (loss). The Company’s tax returns for the year 2021 and prior benefited from not applying 280E to certain entities of the consolidated group either due to the entity not yet starting operations or because the entity had a separate trade or business that was not medical or recreational cannabis operations. The Company determined that it is not more likely than not these tax positions would be sustained under examination. As a result of the above, the Company has a liability for unrecognized tax benefits of $109,204 and $100,343 as of March 31, 2024 and December 31, 2023, respectively, inclusive of interest and penalties. Additionally, there are unrecognized deferred tax benefits of $17,353 and $17,303 as of March 31, 2024 and December 31, 2023, respectively. The Company anticipates that it is reasonably possible that its new tax position on 280E may require changes to the balance of unrecognized tax benefits within the next 12 months. However, an estimate of such changes cannot reasonably be made.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	17. RELATED PARTY TRANSACTIONS The Company had the following related party transactions: Three Months Ended March 31, As of 2024 2023 March 31, 2024 (unaudited) December 31, 2023 Nature of transaction Related Party Expense Related Party Payable 12% Second Lien Notes - interest expense and principal amount (1) $ (577) $ (521) $ (19,493) $ (19,788) Other debt (2) $ — $ — $ (3,225) $ (3,298) (1) Fo r the periods ended March 31, 2024 and December 31, 2023, the Second Lien Notes payable and the related interest expense includes amounts related to the Company’s Chief Executive Officer, as well as a significant investor. (2)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	18. COMMITMENTS AND CONTINGENCIES Contingencies Although the possession, cultivation and distribution of cannabis for medical and recreational use is permitted in certain states, cannabis is classified as a Schedule-I controlled substance under the U.S. Controlled Substances Act and its use remains a violation of federal law. The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or losses of permits that could result in the Company ceasing operations. While management believes that the Company is in material compliance with applicable local and state regulations as of March 31, 2024, marijuana regulations continue to evolve and are subject to differing interpretations. As a result, the Company could be subject to regulatory fines, penalties or restrictions at any time. Since federal law criminalizing the use of cannabis preempts state laws that legalize its use, strict enforcement of federal law regarding cannabis would likely result in the Company’s inability to proceed with the Company’s business plans. In addition, the Company’s assets, including real property, cash and cash equivalents, equipment, inventory and other goods, could be subject to asset forfeiture because cannabis is still federally illegal. Refer to Note 16 - Income Taxes for certain tax-related contingencies. Claims and Litigation From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of March 31, 2024, except as set forth below, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the Company’s financial results. There are also no proceedings in which any of the Company’s directors, officers or affiliates is an adverse party or has a material interest adverse to the Company’s interest. MJ Market matter On March 31, 2023, MJ’s Market, Inc. (“MJ’s”) filed a complaint in federal district court in Massachusetts adverse to Jushi Holdings Inc. and certain of its subsidiaries, including Jushi MA, Inc., Jushi Inc. and Nature’s Remedy of Massachusetts, as well as the former owners and affiliates of Nature’s Remedy of Massachusetts (the “Complaint”). The Complaint centrally claims that the structure of the Nature’s Remedy of Massachusetts transaction providing for increased purchase price consideration if there is no competing dispensary within 2,500 foot radius by certain time periods, and the Company’s filing with the Massachusetts Superior Court an appeal of the Town of Tyngsborough’s decision to approve MJ’s facility in contradiction of its own zoning bylaws are violations of the Sherman Antitrust Act, Massachusetts Antitrust Act, and Massachusetts Consumer Protection Act, as well as interference with contractual relations and abuse of process. MJ is seeking legal and equitable remedies including compensatory and other damages. The Company disputes such allegations, believes it has substantial defenses and is vigorously defending against the Complaint. Sammartino Matter On February 28, 2023, the Company informed Sammartino, the former owner of Nature’s Remedy and certain of its affiliates, that Sammartino had breached several provisions of the MIPA and/or fraudulently induced the Company to enter into, and not terminate, the MIPA. As a consequence of these breaches and the fraudulent inducement, the Company informed Sammartino that the Company had incurred significant damages, and pursuant to the terms of the MIPA the Company had elected to offset these damages against certain promissory notes and shares the Company was to pay and issue, respectively, to Sammartino, and that Sammartino would be required to pay the remainder in cash. On March 13, 2023, Sammartino responded to the Company by alleging various procedural deficiencies with the Company’s claim and provided the Company with a notice that the Company was in default of the MIPA for failing to issue certain shares of the Company to Sammartino. On March 21, 2023, Sammartino sent a second notice that the Company was in default of the promissory notes for failing to pay interest pursuant to their specified schedule. On March 23, 2023, the Company sent a second letter to Sammartino disputing each procedural deficiency claimed by Sammartino and disputing that the Company is in default of the MIPA or the promissory notes and that it properly followed the terms of the various agreements in electing to set off the damages. Pacific Collective matter On October 24, 2022, Pacific Collective, LLC (“Pacific Collective”) filed a complaint in state court in California against Jushi subsidiaries TGS CC Ventures, LLC (“TGS”), and Jushi Inc. Pacific Collective alleges that the Jushi subsidiaries breached a commercial property lease and lease guaranty and that Pacific Collective is entitled to recover in excess of $20,000 in damages. TGS believes it lawfully rescinded the lease based on Pacific Collective’s failure to purchase the property that was the subject of the lease and to construct and deliver the building contemplated by the lease and is of the position that no damages are owed to Pacific Collective. The Referee assigned to the matter delivered a Statement of Decision on March 7, 2024 ruling in favor of TGS and Jushi. Commitments In addition to the contractual obligations outlined in Note 9 - Debt and Note 10 - Leases, the Company has the following commitments as of March 31, 2024 related to property and construction. Property and Construction Commitments In connection with various license applications, the Company may enter into conditional leases or other property commitments which will be executed if the Company is successful in obtaining the applicable license and/or resolving other contingencies related to the license or application. In addition, the Company expects to incur capital expenditures for leasehold improvements and construction of buildouts of certain locations, including for properties for which the lease is conditional on obtaining the applicable related license or for which other contingencies exist. If the Company were to be unsuccessful in obtaining a particular license or certain other conditions are not met, the previously capitalized improvements and buildouts relating to that license may need to be expensed in future periods in the statements of operations and comprehensive income (loss).

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	19. FINANCIAL INSTRUMENTS The following table sets forth the Company’s financial assets and liabilities, subject to fair value measurements on a recurring basis, by level within the fair value hierarchy: March 31, 2024 (unaudited) December 31, 2023 Financial assets: (1) Equity investment $ 200 $ 200 Total financial assets $ 200 $ 200 Financial liabilities: (1) Derivative liabilities (2) $ 7,738 $ 2,638 Contingent consideration liabilities (3) — 817 Total financial liabilities $ 7,738 $ 3,455 (1) The Company has no financial assets or liabilities in Level 1 or 2 within the fair value hierarchy as of March 31, 2024 and December 31, 2023, and there were no transfers between hierarchy levels during the three months ended March 31, 2024 or year ended December 31, 2023. (2) Refer to Note 11 - Derivative Liabilities. (3) Refer to Note 6 - Acquisitions. The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and certain accrued expenses, and certain other assets and liabilities held at amortized cost, approximate their fair values due to the short-term nature of these instruments. The equity investment approximates its fair value at March 31, 2024 and December 31, 2023. The carrying amounts of the promissory notes approximate their fair values as the effective interest rates are consistent with market rates. The carrying amount of the Second Lien Notes approximates their fair values as of March 31, 2024 and December 31, 2023, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	20. SEGMENT INFORMATION The Company operates a vertically integrated cannabis business in one reportable segment for the cultivation, manufacturing, distribution and sale of cannabis in the U.S. All of the Company’s revenues were generated within the U.S., and substantially all long-lived assets are located within the U.S. The accounting policies for the Company’s reportable segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker is t he Chief Executive Officer. The chief operating decision maker assesses performance and decides how to allocate resourc es based on operating results that are reported on the income statement as consolidated net income/(loss). The measure of segment assets is reported on the balance sheet as total consolidated assets. Refer to Note 15 - Operating Expenses for significant expenses for the reportable segment.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	21. SUBSEQUENT EVENTS In connection with the Manassas Mortgage, the Company satisfied certain criteria required for the release of an aggregate of $3,128 of restricted cash in April 2024. Consequently, on April 22, 2024, the lender released $3,128 of restricted cash to the Company.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss and comprehensive loss	$ (18,355)	$ (12,440)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates.
Consolidation	In the opinion of management, the unaudited consolidated financial statements include all adjustments, of a normal recurring nature, that are necessary to present fairly the financial position, results of operations and cash flows of the Company for the periods, and at the dates, presented. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2023, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on April 1, 2024 (the “2023 Form 10-K”), and was also filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) on April 1, 2024. Consolidated balance sheet information as of December 31, 2023 presented herein is derived from the Company’s audited consolidated financial statements for the year ended December 31, 2023.
Going Concern and Liquidity	As reflected in the 2023 Form 10-K, the Company used net cash of $3,318 for operating activities for the year ended December 31, 2023, and as of that date, the Company’s current liabilities exceeded its current assets by $80,825. Furthermore, as of March 31, 2024, the Company’s current liabilities exceeded its current assets by $81,294 . Such current liabilities as of March 31, 2024, include aggregate contractual maturities of (i) $57,687 of the Acquisition Facility (as defined below) debt that is to be paid in cash within the next twelve months, absent a refinancing, (ii) $23,747 of debt (including $2,247 of interest and $5,000 of milestone accruals) that are subject to indemnity claims in favor of the Company and not currently expected to be paid in cash within the next twelve months and (iii) $3,225 debt related to Jushi Europe SA (“Jushi Europe”), where the payments are subject to completion of the liquidation of Jushi Europe. Refer to Note 9 - Debt and Note 18 - Commitments and Contingencies for more information. Absent a refinancing of the Acquisition Facility debt, the Company will not meet its obligations within the next year. Management believes that with refinancing of the Acquisition Facility debt, the Company would meet its obligations. As concluded in the 2023 Form 10-K, substantial doubt existed about the Company’s ability to continue as a going concern, and, as a result of the above, substantial doubt continues to exist within the next twelve months from the date these financial statements are issued. The Company has a history of refinancing its debt and management intends to refinance the Acquisition Facility debt before the maturity date. The ability to continue as a going concern is dependent upon future financing. There is no assurance that the Company will be successful in this or any of its endeavors and continue as a going concern.
Recent Accounting Pronouncements	Adoption of New Accounting Standards In June 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-06 Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. This ASU also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share calculation in certain areas. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023, although early adoption is permitted. There was no impact to the consolidated financial statements upon adoption. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The FASB issued guidance requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. To achieve this, an acquirer may assess how the acquiree applied Topic 606 to determine what to record for the acquired revenue contracts. Generally, this should result in an acquirer recognizing and measuring the acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements (if the acquiree prepared financial statements in accordance with generally accepted accounting principles). The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023, although early adoption is permitted. There was no impact to the consolidated financial statements upon adoption. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions . The FASB issued guidance clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023, although early adoption is permitted. There was no impact to the consolidated financial statements upon adoption. In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842): Common Control Arrangements . The FASB issued guidance clarifies the accounting for leasehold improvements associated with common control leases, by requiring that leasehold improvements associated with common control leases be amortized by the lessee over the useful life of the leasehold improvements to the common control group (regardless of the lease term) as long as the lessee controls the use of the underlying asset through a lease. Additionally, leasehold improvements associated with common control leases should be accounted for as a transfer between entities under common control through an adjustment to equity if, and when, the lessee no longer controls the use of the underlying asset. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2023. There was no impact to the consolidated financial statements upon adoption. Accounting Standards Issued But Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires two primary enhancements of 1) disaggregated information on a reporting entity’s effective tax rate reconciliation, and 2) information on incomes taxes paid. For public business entities, the new requirement will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the effect of adopting this ASU.

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: March 31, 2024 (unaudited) December 31, 2023 Cash and cash equivalents $ 25,286 $ 26,027 Restricted cash - current (1) 3,128 3,128 Restricted cash - non-current (1) 2,150 2,150 Cash, cash equivalents and restricted cash $ 30,564 $ 31,305 (1)
Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: March 31, 2024 (unaudited) December 31, 2023 Cash and cash equivalents $ 25,286 $ 26,027 Restricted cash - current (1) 3,128 3,128 Restricted cash - non-current (1) 2,150 2,150 Cash, cash equivalents and restricted cash $ 30,564 $ 31,305 (1)

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Components of Inventory	The components of inventory, net, are as follows: March 31, 2024 (unaudited) December 31, 2023 Cannabis plants $ 4,727 $ 4,478 Harvested cannabis and packaging 10,374 10,994 Total raw materials 15,101 15,472 Work in process 5,439 4,293 Finished goods 16,125 13,821 Total inventory, net $ 36,665 $ 33,586

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Components of Prepaid Expenses and Other Current Assets	The components of prepaid expenses and other current assets are as follows: March 31, 2024 (unaudited) December 31, 2023 Employee retention credit receivable $ 10,140 $ 10,140 Prepaid expenses and deposits 2,337 2,716 Assets held for sale 1,647 1,647 Other current assets 612 1,011 Total prepaid expenses and other current assets $ 14,736 $ 15,514

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	The components of property, plant and equipment (“PPE”) are as follows: March 31, 2024 (unaudited) December 31, 2023 Buildings and building components $ 88,134 $ 88,527 Land 12,956 12,956 Leasehold improvements 47,589 46,660 Machinery and equipment 27,128 27,050 Furniture, fixtures and office equipment (including computer) 21,870 21,146 Construction-in-process 318 1,968 Property, plant and equipment, gross 197,995 198,307 Less: Accumulated depreciation (43,854) (39,039) Property, plant and equipment, net $ 154,141 $ 159,268

OTHER NON-CURRENT ASSETS (Table

OTHER NON-CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Noncurrent Assets	The components of other non-current assets are as follows: March 31, 2024 (unaudited) December 31, 2023 Operating lease assets $ 17,943 $ 18,265 Indemnification assets 7,080 6,906 Net deferred tax assets 2,895 2,772 Deposits and escrows - properties 1,723 1,723 Deposits - equipment 422 422 Equity investment (1) 200 200 Other 61 70 Total other non-current assets $ 30,324 $ 30,358 (1) The Company owns a 23.08% ownership interest in PV Culver City, LLC (“PVLLC”). The Company does not have significant influence over, and the Company does not have the right to vote or participate in the management of PVLLC and therefore the investment is measured at its fair value. Refer to Note 19 - Financial Instruments for more information relating to the fair value of this equity investment as of March 31, 2024

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	The components of accrued expenses and other current liabilities March 31, 2024 (unaudited) December 31, 2023 Deferred income - ERC (1) $ 10,140 $ 10,140 Goods received not invoiced 5,268 5,019 Accrued employee related expenses and liabilities 5,260 4,175 Acquisition-related milestone accrual (2) 5,000 4,167 Operating lease obligations 4,707 4,693 Accrued interest 4,480 4,106 Accrued sales and excise taxes 2,866 2,388 Deferred revenue (loyalty program) 1,441 1,407 Accrued professional and management fees 698 986 Accrued capital expenditures 100 702 Contingent consideration liabilities (2) — 817 Other accrued expenses and current liabilities 3,190 5,470 Total accrued expenses and other current liabilities $ 43,150 $ 44,070 (1) Refer to Note 4 - Prepaid Expenses and Other Current Assets for more information. (2) Refer to Note 6 - Acquisitions for more information .

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Components of Debt	The components of the Company’s debt are as follows: Effective Interest Rate Maturity Date March 31, 2024 (unaudited) December 31, 2023 Principal amounts: Second Lien Notes 15% December 2026 $ 79,835 $ 75,497 Acquisition Facility 15% December 2024 57,687 60,125 Acquisition-related promissory notes payable 8% - 16% August 2024 - April 2027 25,864 35,716 Mortgage loans 6% - 11% January 2027 - April 2028 29,424 29,456 Total debt subject to scheduled repayments 192,810 200,794 Promissory notes payable to Sammartino (1) 10% September 2024 - September 2026 21,500 21,500 Jushi Europe debt (2) n/a March 2022 3,225 3,298 Total debt 217,535 225,592 Less: debt issuance costs and original issue discounts (10,478) (13,037) Total debt, net $ 207,057 $ 212,555 Debt, net - current portion $ 79,877 $ 86,514 Debt, net - non-current portion $ 127,180 $ 126,041 (1) This amount is related to the promissory notes issued to Sammartino in connection with the acquisition of Nature's Remedy in September 2021. Any repayment of principal and interest are currently on hold until the resolution of the Sammartino Matter. Refer to Note 18 - Commitments and Contingencies for more information. (2)
Schedule of Future Contractual Debt Maturities	As of March 31, 2024, aggregate future scheduled repayments of the Company’s debt are as follows: Remainder of the year 2025 2026 2027 2028 Total Second Lien Notes $ — $ — $ 79,835 $ — $ — $ 79,835 Acquisition Facility 57,687 — — — — 57,687 Acquisition-related promissory notes payable 3,750 — — 22,114 — 25,864 Mortgage loans 438 647 658 9,441 18,240 29,424 Total debt subject to scheduled repayments $ 61,875 $ 647 $ 80,493 $ 31,555 $ 18,240 $ 192,810
Schedule of Interest Expense	Interest expense, net is comprised of the following: Three Months Ended March 31, 2024 2023 Interest expense Interest and accretion - Second Lien Notes $ 2,748 $ 2,344 Interest and accretion - Finance lease liabilities 2,668 2,349 Interest and accretion - Promissory notes 1,374 1,536 Interest and accretion - Acquisition Facility 2,152 2,296 Interest and accretion - Mortgage loans and other financing activities 706 185 Capitalized interest — (188) Total interest expense 9,648 8,522 Interest income (104) (2) Total interest expense, net $ 9,544 $ 8,520

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Lease, Cost	The following table provides the components of lease cost recognized in the consolidated statements of operations and comprehensive income (loss) for the periods presented. Three Months Ended March 31, 2024 2023 Finance lease cost: Amortization of lease assets $ 1,184 $ 1,590 Interest on lease liabilities 2,668 2,349 Total finance lease cost 3,852 3,939 Operating lease cost 1,326 733 Variable lease cost 36 66 Total lease cost $ 5,214 $ 4,738 Other information related to operating and finance leases as of the balance sheet dates presented are as follows: March 31, 2024 December 31, 2023 (unaudited) Finance Leases Operating Leases Finance Leases Operating Leases Weighted average discount rate 16.08 % 15.15 % 16.09 % 15.09 % Weighted average remaining lease term (in years) 16.4 8.6 16.6 8.7
Lessee, Operating Lease, Liability, Maturity	The maturities of the contractual undiscounted lease liabilities as of March 31, 2024 are as follows: Finance Leases Operating Leases Remainder of year $ 7,319 $ 3,734 2025 10,820 5,772 2026 10,494 5,536 2027 10,002 5,243 2028 10,166 4,842 Thereafter 147,970 19,670 Total lease payments 196,771 44,797 Less: Imputed interest (135,367) (20,658) Total present value of minimum lease payments $ 61,404 $ 24,139 Lease liabilities - current portion $ 9,121 $ 4,707 Lease liabilities - non-current $ 52,283 $ 19,432
Finance Lease, Liability, Fiscal Year Maturity	The maturities of the contractual undiscounted lease liabilities as of March 31, 2024 are as follows: Finance Leases Operating Leases Remainder of year $ 7,319 $ 3,734 2025 10,820 5,772 2026 10,494 5,536 2027 10,002 5,243 2028 10,166 4,842 Thereafter 147,970 19,670 Total lease payments 196,771 44,797 Less: Imputed interest (135,367) (20,658) Total present value of minimum lease payments $ 61,404 $ 24,139 Lease liabilities - current portion $ 9,121 $ 4,707 Lease liabilities - non-current $ 52,283 $ 19,432

DERIVATIVE LIABILITIES (Tables)

DERIVATIVE LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value	The following table summarizes the change in the Company’s derivative liabilities for the three months ended March 31, 2024 . Total Derivative Liabilities (1) Balance as of January 1, 2024 $ 2,638 Fair value changes 5,100 Balance as of March 31, 2024 $ 7,738 (1) Refer to Note 12 - Equity for the change in number of warrants during the three months ended March 31, 2024.
Fair Value Measurement Inputs and Valuation Techniques	The assumptions used in the fair value calculations as of the balance sheet dates presented include the following: March 31, 2024 (unaudited) December 31, 2023 Stock price $0.73 $0.46 Risk-free annual interest rate 4.45% - 5.21% 4.01% - 4.79% Range of estimated possible exercise price $1.00 - $2.086 $1.00 - $2.086 Weighted average volatility 124% 101% Remaining life 0.70 - 2.70 years 1.00 - 2.90 years Forfeiture rate 0% 0% Expected annual dividend yield 0% 0% As of March 31, 2024 As of December 31, 2023 (unaudited) Input Effect of 10% Increase Effect of 10% Decrease Input Effect of 10% Increase Effect of 10% Decrease Stock price $ 0.73 $ 1,540 $ (1,440) $ 0.46 $ 637 $ (574) Volatility 124 % 1,190 (1,202) 101 % 680 (643)

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Warrants Outstanding and Exercisable	The following table summarizes the status of warrants and related transactions: Non-Derivative (Equity) Warrants (1) Derivative Liabilities Warrants Total Number of Warrants Weighted - Average Exercise Price Balance as of January 1, 2024 49,068,636 37,862,922 86,931,558 $ 1.12 Granted 2,050,000 — 2,050,000 $ 0.97 Balance as of March 31, 2024 51,118,636 37,862,922 88,981,558 $ 1.12 Exercisable as of March 31, 2024 49,083,636 37,862,922 86,946,558 $ 1.12 (1)
Schedule of Share-Based Payment Award, Warrants, Valuation Assumptions	The following assumptions were used for the calculation at date of issuance: Weighted average stock price $0.93 Weighted average expected stock price volatility 76.5% Expected annual dividend yield 0% Weighted average expected life of warrants 3.1 years Weighted average risk-free annual interest rate 4.1% Weighted average grant date fair value $0.48
Summary of Stock Options Outstanding	The following table summarizes the status of stock options and related transactions: Number of Stock Options Weighted-Average Per Share Exercise Price Issued and Outstanding as of January 1, 2024 27,653,184 $ 1.40 Granted 1,220,000 $ 0.70 Exercised (3,333) $ 0.60 Cancelled/forfeited/expired (273,166) $ 1.77 Issued and Outstanding as of March 31, 2024 28,596,685 $ 1.36 Exercisable as of March 31, 2024 15,966,391 $ 1.75
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The following assumptions were used for the calculation at date of grant: Three Months Ended March 31, 2024 2023 Weighted average stock price $0.70 $0.60 Weighted average expected stock price volatility 77.1% 77.4% Expected annual dividend yield 0% 0% Weighted average expected life 5.1 years 6.2 years Weighted average risk-free annual interest rate 4.3% 3.7% Weighted average grant date fair value $0.46 $0.42
Nonvested Restricted Stock Shares Activity	The following table summarizes the status of restricted stock and related transactions: Number of Restricted Subordinate Voting Shares Unvested restricted stock as of January 1, 2024 1,861 Unvested restricted stock as of March 31, 2024 1,861
Components of Share-based Compensation Expense	The components of share-based compensation expense are as follows: Three Months Ended March 31, 2024 2023 Stock options $ 1,355 $ 1,596 Restricted stock 1 200 Warrants 168 515 Total share-based compensation expense $ 1,524 $ 2,311

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The reconciliations of the net loss and the weighted average number of shares used in the computations of basic and diluted loss per share are as follows: Three Months Ended March 31, 2024 2023 Numerator: Net loss and comprehensive loss $ (18,355) $ (12,440) Net loss and comprehensive loss - diluted $ (18,355) $ (12,440) Denominator: Weighted-average shares of common stock - basic 195,131,642 194,050,835 Weighted-average shares of common stock - diluted 195,131,642 194,050,835 Loss per common share: Basic $ (0.09) $ (0.06) Diluted $ (0.09) $ (0.06)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes weighted average instruments that may, in the future, have a dilutive effect on earnings (loss) per share, but were excluded from consideration in the computation of diluted net loss per share for the three months ended March 31, 2024 and 2023, because the impact of including them would have been anti-dilutive: Three Months Ended March 31, 2024 2023 Stock options 27,653,611 28,615,308 Warrants (derivative liabilities and equity) 88,052,437 85,989,948 Unvested restricted stock awards 1,861 1,120,815 115,707,909 115,726,071

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenue Disaggregated by Revenue Stream	The following table summarizes the Company’s revenue from external customers, disaggregated by revenue stream: Three Months Ended March 31, 2024 2023 Retail $ 57,369 $ 62,311 Wholesale 8,090 7,562 Total revenue, net $ 65,459 $ 69,873

OPERATING EXPENSES (Tables)

OPERATING EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Schedule of Other Operating Cost and Expense, by Component	The major components of operating expenses are as follows: Three Months Ended March 31, 2024 2023 Salaries, wages and employee related expenses $ 14,147 $ 16,804 Depreciation and amortization expense 3,278 2,663 Rent and related expenses 2,914 2,893 Professional fees and legal expenses 2,575 2,325 Share-based compensation expense 1,524 2,311 Other expenses (1) 3,773 5,456 Total operating expenses $ 28,211 $ 32,452 (1) Other expenses are primarily comprised of marketing and selling expenses, insurance costs, administrative and licensing fees, software and technology costs, travel, entertainment and conferences and other.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income (Loss), Income Tax (Expense), and Effective Tax Rate	The following table summarizes the Company’s income tax expense and effective tax rates for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Loss before income tax $ (8,608) $ (2,292) Income tax expense $ 9,747 $ 10,148 Effective income tax rate 113.2 % 442.8 %

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company had the following related party transactions: Three Months Ended March 31, As of 2024 2023 March 31, 2024 (unaudited) December 31, 2023 Nature of transaction Related Party Expense Related Party Payable 12% Second Lien Notes - interest expense and principal amount (1) $ (577) $ (521) $ (19,493) $ (19,788) Other debt (2) $ — $ — $ (3,225) $ (3,298) (1) Fo r the periods ended March 31, 2024 and December 31, 2023, the Second Lien Notes payable and the related interest expense includes amounts related to the Company’s Chief Executive Officer, as well as a significant investor. (2)

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table sets forth the Company’s financial assets and liabilities, subject to fair value measurements on a recurring basis, by level within the fair value hierarchy: March 31, 2024 (unaudited) December 31, 2023 Financial assets: (1) Equity investment $ 200 $ 200 Total financial assets $ 200 $ 200 Financial liabilities: (1) Derivative liabilities (2) $ 7,738 $ 2,638 Contingent consideration liabilities (3) — 817 Total financial liabilities $ 7,738 $ 3,455 (1) The Company has no financial assets or liabilities in Level 1 or 2 within the fair value hierarchy as of March 31, 2024 and December 31, 2023, and there were no transfers between hierarchy levels during the three months ended March 31, 2024 or year ended December 31, 2023. (2) Refer to Note 11 - Derivative Liabilities. (3) Refer to Note 6 - Acquisitions.

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Net cash flows provided by (used in) operating activities	$ 6,493	$ (3,572)	$ (3,318)
Working capital	(81,294)		(80,825)
Debt, net - current portion	79,877		$ 86,514
Long-term debt, current maturities, guaranteed obligations	23,747
Long-term debt, current maturities, guaranteed obligations, interest accrued	2,247
Long-term debt, current maturities, guaranteed obligations, milestones accrued	5,000
Jushi Europe Debt | Other Debt
Debt Instrument [Line Items]
Debt, net - current portion	3,225
Revolving Credit Facility | Acquisition Facility | Line of Credit
Debt Instrument [Line Items]
Debt, net - current portion	$ 57,687

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Apr. 22, 2024	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Cash and cash equivalents		$ 25,286	$ 26,027
Restricted cash - current		3,128	3,128
Restricted cash - non-current		2,150	2,150
Cash, cash equivalents and restricted cash		$ 30,564	$ 31,305	$ 19,424	$ 27,146
Subsequent Event
Subsequent Event [Line Items]
Release of restricted cash - current	$ 3,128

INVENTORY, NET (Details)

INVENTORY, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory [Line Items]
Raw materials	$ 15,101	$ 15,472
Work in process	5,439	4,293
Finished goods	16,125	13,821
Total inventory, net	36,665	33,586
Cannabis plants
Inventory [Line Items]
Raw materials	4,727	4,478
Harvested cannabis and packaging
Inventory [Line Items]
Raw materials	$ 10,374	$ 10,994

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Components of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Employee retention credit receivable	$ 10,140	$ 10,140
Prepaid expenses and deposits	2,337	2,716
Assets held for sale	1,647	1,647
Other current assets	612	1,011
Total prepaid expenses and other current assets	$ 14,736	$ 15,514

PREPAID EXPENSES AND OTHER CU_4

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Employee retention credit receivable	$ 10,140	$ 10,140
Assets held for sale	$ 1,647	$ 1,647

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Components of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 197,995	$ 198,307
Less: Accumulated depreciation	(43,854)	(39,039)
Property, plant and equipment, net	154,141	159,268
Buildings and building components
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	88,134	88,527
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,956	12,956
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	47,589	46,660
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	27,128	27,050
Furniture, fixtures and office equipment (including computer)
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	21,870	21,146
Construction-in-process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 318	$ 1,968

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 4,909	$ 4,812
Property, plant and equipment, disposals			$ 1,647
Asset, held-for-sale			$ 1,647

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2021	Mar. 31, 2024	Dec. 31, 2023
Acquisition Milestone Accrual
Business Acquisition [Line Items]
Contingent consideration liabilities - current portion		$ 5,000	$ 4,167
Nature's Remedy
Business Acquisition [Line Items]
Contingent consideration, equity interest issued and issuable	$ 5,000
Contingent consideration, liability, monthly earnout	278
Contingent consideration, liability, earnout calculation, ratio to share price	$ 1,667
Contingent consideration liabilities - current portion		$ 5,000	817
Contingent liability			4,984
Nature's Remedy | Acquisition Milestone Accrual
Business Acquisition [Line Items]
Contingent consideration liabilities - current portion			$ 4,167
Nature's Remedy | Milestone Period One
Business Acquisition [Line Items]
Contingent consideration period	12 months
Nature's Remedy | Milestone Period Two
Business Acquisition [Line Items]
Contingent consideration period	30 months
Nature's Remedy | Milestone Period Three
Business Acquisition [Line Items]
Contingent consideration period	13 months
Nature's Remedy | Monthly Milestone Period One
Business Acquisition [Line Items]
Contingent consideration period	18 months
Nature's Remedy | Monthly Milestone Period Two
Business Acquisition [Line Items]
Contingent consideration period	24 months
Nature's Remedy | Monthly Milestone Period Three
Business Acquisition [Line Items]
Contingent consideration period	30 months

OTHER NON-CURRENT ASSETS (Detai

OTHER NON-CURRENT ASSETS (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Operating lease assets	$ 17,943	$ 18,265
Indemnification assets	7,080	6,906
Net deferred tax assets	2,895	2,772
Deposits and escrows - properties	1,723	1,723
Deposits - equipment	422	422
Equity investment	200	200
Other	61	70
Total other non-current assets	$ 30,324	$ 30,358
PVLLC
Schedule of Equity Method Investments [Line Items]
Equity ownership	23.08%

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Business Acquisition, Contingent Consideration [Line Items]
Deferred income - ERC	$ 10,140	$ 10,140
Goods received not invoiced	5,268	5,019
Accrued employee related expenses and liabilities	5,260	4,175
Operating lease obligations	$ 4,707	$ 4,693
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities
Accrued interest	$ 4,480	$ 4,106
Accrued sales and excise taxes	2,866	2,388
Deferred revenue (loyalty program)	1,441	1,407
Accrued professional and management fees	698	986
Accrued capital expenditures	100	702
Other accrued expenses and current liabilities	3,190	5,470
Total accrued expenses and other current liabilities	43,150	44,070
Acquisition Milestone Accrual
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration liabilities	5,000	4,167
Thirty-Month Anniversary Contingent Consideration
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration liabilities	$ 0	$ 817

DEBT - Components of Debt (Deta

DEBT - Components of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 217,535	$ 225,592
Less: debt issuance costs and original issue discounts	(10,478)	(13,037)
Total debt, net	207,057	212,555
Debt, net - current portion	79,877	86,514
Debt, net - non-current portion	127,180	126,041
Total debt subject to scheduled repayments
Debt Instrument [Line Items]
Total debt	$ 192,810	200,794
Second Lien Notes | Unsecured Debt
Debt Instrument [Line Items]
Effective Interest Rate	15%
Total debt	$ 79,835	75,497
Acquisition Facility | Line of Credit
Debt Instrument [Line Items]
Effective Interest Rate	15%
Total debt	$ 57,687
Acquisition Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	57,687	60,125
Debt, net - current portion	57,687
Acquisition-related promissory notes payable | Unsecured Debt
Debt Instrument [Line Items]
Total debt	25,864	35,716
Mortgage loans | Mortgages
Debt Instrument [Line Items]
Total debt	$ 29,424	29,456
Promissory Notes Payable to Sammartino | Notes Payable
Debt Instrument [Line Items]
Effective Interest Rate	10%
Total debt	$ 21,500	21,500
Jushi Europe Debt | Other Debt
Debt Instrument [Line Items]
Total debt	3,225	$ 3,298
Debt, net - current portion	$ 3,225
Minimum | Acquisition-related promissory notes payable | Unsecured Debt
Debt Instrument [Line Items]
Effective Interest Rate	8%
Minimum | Mortgage loans | Mortgages
Debt Instrument [Line Items]
Effective Interest Rate	6%
Maximum | Acquisition-related promissory notes payable | Unsecured Debt
Debt Instrument [Line Items]
Effective Interest Rate	16%
Maximum | Mortgage loans | Mortgages
Debt Instrument [Line Items]
Effective Interest Rate	11%

DEBT - Narrative (Details)

DEBT - Narrative (Details)		1 Months Ended		3 Months Ended
	Feb. 06, 2024 USD ($) $ / shares shares	Apr. 30, 2023 USD ($)	Jul. 31, 2022 USD ($)	Mar. 31, 2024 USD ($) loan debtInstrument	Mar. 31, 2023 USD ($)	Jan. 24, 2024 agreement	Dec. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Number of note exchange agreements | agreement						2
Derivative warrants outstanding (in shares) | shares	1,800,000
Derivative warrants exercise price (in dollars per share) | $ / shares	$ 1
Gain on debt extinguishment				$ 399,000	$ 0
Number of mortgage loans | loan				3
Contingent debt, not subject to repayment terms | debtInstrument				2
Total debt				$ 217,535,000			$ 225,592,000
Existing Notes | Unsecured Debt
Debt Instrument [Line Items]
Extinguishment of debt	$ 9,850,000
Repayments of Long-Term Debt	2,750,000
Second Lien Notes | Unsecured Debt
Debt Instrument [Line Items]
Debt instrument principal amount	$ 4,750,000
2025				0
2027				0
Total debt				$ 79,835,000			75,497,000
Arlington Facility | Mortgages
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 6,900,000
Debt instrument interest rate				5.875%
Dickson City Mortgage | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 2,800,000
Interest rate at period end				10.50%
Dickson City Mortgage | Line of Credit | Revolving Credit Facility | Prime Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2%
Manassas Mortgage | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.55%
Manassas Mortgage | Mortgages
Debt Instrument [Line Items]
Debt instrument principal amount		$ 20,000,000
Debt instrument interest rate				8.875%
Debt instrument, floor rate		8.25%
Promissory Notes Payable to Sammartino | Notes Payable
Debt Instrument [Line Items]
2025				$ 16,500,000
2027				5,000,000
Total debt				21,500,000			21,500,000
Jushi Europe Debt | Other Debt
Debt Instrument [Line Items]
Total debt				$ 3,225,000			$ 3,298,000

DEBT - Schedule of Future Contr

DEBT - Schedule of Future Contractual Debt Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Long-Term Debt, Fiscal Year Maturity [Abstract]
Total debt	$ 217,535	$ 225,592
Total debt subject to scheduled repayments
Long-Term Debt, Fiscal Year Maturity [Abstract]
Remainder of the year	61,875
2025	647
2026	80,493
2027	31,555
2028	18,240
Total debt	192,810	200,794
Unsecured Debt | Second Lien Notes
Long-Term Debt, Fiscal Year Maturity [Abstract]
Remainder of the year	0
2025	0
2026	79,835
2027	0
2028	0
Total debt	79,835	75,497
Unsecured Debt | Acquisition-related promissory notes payable
Long-Term Debt, Fiscal Year Maturity [Abstract]
Remainder of the year	3,750
2025	0
2026	0
2027	22,114
2028	0
Total debt	25,864	35,716
Line of Credit | Acquisition Facility
Long-Term Debt, Fiscal Year Maturity [Abstract]
Remainder of the year	57,687
2025	0
2026	0
2027	0
2028	0
Total debt	57,687
Mortgages | Mortgage loans
Long-Term Debt, Fiscal Year Maturity [Abstract]
Remainder of the year	438
2025	647
2026	658
2027	9,441
2028	18,240
Total debt	$ 29,424	$ 29,456

DEBT - Schedule of Interest Exp

DEBT - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Interest and accretion - Finance lease liabilities	$ 2,668	$ 2,349
Capitalized interest	0	(188)
Total interest expense	9,648	8,522
Interest income	(104)	(2)
Total interest expense, net	9,544	8,520
Unsecured Debt | Second Lien Notes
Debt Instrument [Line Items]
Interest and accretion, debt	2,748	2,344
Unsecured Debt | Acquisition-related promissory notes payable
Debt Instrument [Line Items]
Interest and accretion, debt	1,374	1,536
Line of Credit | Acquisition Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Interest and accretion, debt	2,152	2,296
Secured Debt
Debt Instrument [Line Items]
Interest and accretion, debt	$ 706	$ 185

LEASES - Components of Lease Co

LEASES - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finance lease cost:
Amortization of lease assets	$ 1,184	$ 1,590
Interest on lease liabilities	2,668	2,349
Total finance lease cost	3,852	3,939
Operating lease cost	1,326	733
Variable lease cost	36	66
Total lease cost	$ 5,214	$ 4,738

LEASES - Weighted-Average Disco

LEASES - Weighted-Average Discount Rate and Remaining Lease Term (Details)	Mar. 31, 2024	Dec. 31, 2023
Finance Leases
Weighted average discount rate	16.08%	16.09%
Weighted average remaining lease term (in years)	16 years 4 months 24 days	16 years 7 months 6 days
Operating Leases
Weighted average discount rate	15.15%	15.09%
Weighted average remaining lease term (in years)	8 years 7 months 6 days	8 years 8 months 12 days

LEASES - Maturities of Finance

LEASES - Maturities of Finance and Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finance Leases
Remainder of year	$ 7,319
2025	10,820
2026	10,494
2027	10,002
2028	10,166
Thereafter	147,970
Total lease payments	196,771
Less: Imputed interest	(135,367)
Total present value of minimum lease payments	61,404
Lease liabilities - current portion	9,121	$ 8,885
Lease liabilities - non-current	52,283	52,839
Operating Leases
Remainder of year	3,734
2025	5,772
2026	5,536
2027	5,243
2028	4,842
Thereafter	19,670
Total lease payments	44,797
Less: Imputed interest	(20,658)
Total present value of minimum lease payments	24,139
Lease liabilities - current portion	4,707	$ 4,693
Lease liabilities - non-current	$ 19,432

DERIVATIVE LIABILITIES - Schedu

DERIVATIVE LIABILITIES - Schedule of Derivative Liabilities at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning of period	$ 2,638
Fair value changes	5,100	$ (8,030)
Balance at end of period	$ 7,738

DERIVATIVE LIABILITIES - Narrat

DERIVATIVE LIABILITIES - Narrative (Details) - $ / shares	Mar. 31, 2024	Feb. 06, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative warrants outstanding (in shares)		1,800,000
Derivative warrants exercise price (in dollars per share)		$ 1
Derivative Warrants, Super Voting Shares
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative warrants outstanding (in shares)	37,862,922
Derivative warrants exercise price (in dollars per share)	$ 2.086
Derivative Warrants To Purchase Super Voting Shares, $1.25 Exercise Price, Expiring December 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative warrants outstanding (in shares)	29,972,000
Derivative warrants exercise price (in dollars per share)	$ 1.25
Derivative Warrants To Purchase Super Voting Shares, $1.00 Exercise Price, Expiring December 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative warrants outstanding (in shares)	5,890,922
Derivative warrants exercise price (in dollars per share)	$ 1
Derivative Warrants To Purchase Super Voting Shares, $2.086 Exercise Price, Expiring December 2026
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative warrants outstanding (in shares)	2,000,000
Senior Notes Due December 23, 2024 | Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument interest rate	10%

DERIVATIVE LIABILITIES - Fair V

DERIVATIVE LIABILITIES - Fair Value Measurements (Details) - Warrants	Mar. 31, 2024	Dec. 31, 2023
Stock price
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0.73	0.46
Risk-free annual interest rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0.0521
Risk-free annual interest rate | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0.0445	0.0401
Risk-free annual interest rate | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input		0.0479
Range of estimated possible exercise price | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	1	1
Range of estimated possible exercise price | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	2.086	2.086
Weighted average volatility
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	1.24	1.01
Remaining life | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0.70	1
Remaining life | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	2.7	2.9
Forfeiture rate
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0	0
Expected annual dividend yield
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0	0

DERIVATIVE LIABILITIES - Increa

DERIVATIVE LIABILITIES - Increase/Decrease in Significant Assumptions (Details) - Warrants $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Stock price
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	0.73	0.46
Effect of 10% Increase	$ 1,540	$ 637
Effect of 10% Decrease	$ (1,440)	$ (574)
Weighted average volatility
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Input	1.24	1.01
Effect of 10% Increase	$ 1,190	$ 680
Effect of 10% Decrease	$ (1,202)	$ (643)

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock, issued (in shares)	0
Preferred stock, outstanding (in shares)	0
Number of securities called by each warrant (in shares)	1
Number of shares authorized, percent	15%
Number of additional shares authorized, percent	2%
Maximum number of awards available (in shares)	4,829,392
Unrecognized compensation expense	$ 4,311
Unrecognized compensation expense, period for recognition	1 year 6 months
Stock options
Class of Stock [Line Items]
Expiration term	10 years
Vesting period	3 years
Restricted stock | Minimum
Class of Stock [Line Items]
Vesting period	1 year
Restricted stock | Vesting period one
Class of Stock [Line Items]
Award vesting rights, percentage	33.33%
Restricted stock | Vesting period two
Class of Stock [Line Items]
Award vesting rights, percentage	33.33%
Restricted stock | Vesting period three
Class of Stock [Line Items]
Award vesting rights, percentage	33.33%
Subordinate Voting Shares
Class of Stock [Line Items]
Common stock, issued (in shares)	196,634,931	196,631,598
Common stock, outstanding (in shares)	196,634,931	196,631,598
Multiple Voting Shares
Class of Stock [Line Items]
Common stock, issued (in shares)	0
Common stock, outstanding (in shares)	0
Super Voting Shares
Class of Stock [Line Items]
Common stock, issued (in shares)	0
Common stock, outstanding (in shares)	0

EQUITY - Summary of Equity Inst

EQUITY - Summary of Equity Instruments Other than Options (Details) - $ / shares	1 Months Ended	3 Months Ended
	Feb. 29, 2024	Mar. 31, 2024
Nonvested, Number of Shares
Granted (in shares)		2,050,000
Warrants
Nonvested, Number of Shares
Issued and outstanding at beginning of period (in shares)		86,931,558
Granted (in shares)	1,800,000
Issued and outstanding at end of period (in shares)		88,981,558
Weighted - Average Exercise Price
Issued and outstanding at beginning of period (in dollars per share)		$ 1.12
Granted, weighted-average per share grant date fair value (in dollars per share)		0.97
Issued and outstanding at end of period (in dollars per share)		$ 1.12
Exercisable
Nonvested, Number of Shares, Exercisable (in shares)		86,946,558
Weighted - Average Exercise Price, Exercisable (in dollars per share)		$ 1.12
Warrants | Non-Derivative (Equity) Warrants
Nonvested, Number of Shares
Issued and outstanding at beginning of period (in shares)		49,068,636
Granted (in shares)		2,050,000
Issued and outstanding at end of period (in shares)		51,118,636
Exercisable
Nonvested, Number of Shares, Exercisable (in shares)		49,083,636
Warrants | Derivative Liabilities Warrants
Nonvested, Number of Shares
Issued and outstanding at beginning of period (in shares)		37,862,922
Granted (in shares)		0
Issued and outstanding at end of period (in shares)		37,862,922
Exercisable
Nonvested, Number of Shares, Exercisable (in shares)		37,862,922
Restricted stock
Nonvested, Number of Shares
Issued and outstanding at beginning of period (in shares)		1,861
Issued and outstanding at end of period (in shares)		1,861

EQUITY - Schedule of Share-Base

EQUITY - Schedule of Share-Based Payment Award, Warrants, Valuation Assumptions (Details) - Warrants (derivative liabilities and equity)	3 Months Ended
	Mar. 31, 2024 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average stock price (in dollars per share)	$ 0.93
Weighted average expected stock price volatility	76.50%
Expected annual dividend yield	0%
Weighted average expected life	3 years 1 month 6 days
Weighted average risk-free annual interest rate	4.10%
Weighted average grant date fair value	$ 0.48

EQUITY - Summary of Stock Optio

EQUITY - Summary of Stock Options Outstanding (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Number of Stock Options
Beginning balance, Issued and Outstanding (in shares) | shares	27,653,184
Granted (in shares) | shares	1,220,000
Exercised (in shares) | shares	(3,333)
Cancelled/forfeited/expired (in shares) | shares	(273,166)
Ending balance, Issued and Outstanding (in shares) | shares	28,596,685
Weighted-Average Per Share Exercise Price
Beginning balance, Issued and Outstanding (in dollars per share) | $ / shares	$ 1.40
Granted (in dollars per share) | $ / shares	0.70
Exercised (in dollars per share) | $ / shares	0.60
Cancelled/forfeited/expired (in dollars per share) | $ / shares	1.77
Ending balance, Issued and Outstanding (in dollars per share) | $ / shares	$ 1.36
Options Exercisable
Number of Stock Options, Exercisable (in shares) | shares	15,966,391
Weighted-Average Per Share Exercise Price, Exercisable (in dollars per share) | $ / shares	$ 1.75

EQUITY - Schedule of Share-Ba_2

EQUITY - Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details) - Stock options - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average stock price (in dollars per share)	$ 0.70	$ 0.60
Weighted average expected stock price volatility	77.10%	77.40%
Expected annual dividend yield	0%	0%
Weighted average expected life	5 years 1 month 6 days	6 years 2 months 12 days
Weighted average risk-free annual interest rate	4.30%	3.70%
Weighted average grant date fair value	$ 0.46	$ 0.42

EQUITY - Components of Share-ba

EQUITY - Components of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	$ 1,524	$ 2,311
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	1,355	1,596
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	1	200
Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	$ 168	$ 515

EARNINGS (LOSS) PER SHARE - Sch

EARNINGS (LOSS) PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net loss and comprehensive loss	$ (18,355)	$ (12,440)
Net loss and comprehensive loss - diluted	$ (18,355)	$ (12,440)
Denominator:
Weighted-average shares of common stock - basic (in shares)	195,131,642	194,050,835
Weighted-average shares of common stock - diluted (in shares)	195,131,642	194,050,835
Loss per common share:
Basic (in dollars per share)	$ (0.09)	$ (0.06)
Diluted (in dollars per share)	$ (0.09)	$ (0.06)

EARNINGS (LOSS) PER SHARE - S_2

EARNINGS (LOSS) PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	115,707,909	115,726,071
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	27,653,611	28,615,308
Warrants (derivative liabilities and equity)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	88,052,437	85,989,948
Unvested restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,861	1,120,815

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 revenueStream
Revenue from Contract with Customer [Abstract]
Number of revenue streams	2

REVENUE - Summary of Revenue Di

REVENUE - Summary of Revenue Disaggregated by Revenue Stream (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 65,459	$ 69,873
Retail
Disaggregation of Revenue [Line Items]
Revenue	57,369	62,311
Wholesale
Disaggregation of Revenue [Line Items]
Revenue	$ 8,090	$ 7,562

OPERATING EXPENSES (Details)

OPERATING EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Salaries, wages and employee related expenses	$ 14,147	$ 16,804
Depreciation and amortization expense	3,278	2,663
Rent and related expenses	2,914	2,893
Professional fees and legal expenses	2,575	2,325
Share-based compensation expense	1,524	2,311
Other expenses	3,773	5,456
OPERATING EXPENSES	$ 28,211	$ 32,452

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income (Loss), Income Tax (Expense), and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Loss before income tax	$ (8,608)	$ (2,292)
Income tax expense	$ 9,747	$ 10,148
Effective income tax rate	113.20%	442.80%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 109,204	$ 100,343
Unrecognized tax benefits, deferred	$ 17,353	$ 17,303

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Related Party Payable	$ (16,913)		$ (15,383)
Second Lien Notes - Interest Expense And Principal Amount
Related Party Transaction [Line Items]
Related Party Expense	(577)	$ (521)
Second Lien Notes - Interest Expense And Principal Amount | Related Party
Related Party Transaction [Line Items]
Related Party Payable	$ (19,493)		(19,788)
Debt instrument interest rate	12%
Other Debt
Related Party Transaction [Line Items]
Related Party Expense	$ 0	$ 0
Other Debt | Related Party
Related Party Transaction [Line Items]
Related Party Payable	$ (3,225)		$ (3,298)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Mar. 31, 2024 ft	Oct. 24, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Real estate property, competing property, radius | ft	2,500
Loss contingency, estimate of possible loss | $		$ 20,000

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financial liabilities:
Derivative liabilities	$ 7,738	$ 2,638
Fair Value, Recurring | Level 3
Financial assets:
Equity investment	200	200
Total financial assets	200	200
Financial liabilities:
Derivative liabilities	7,738	2,638
Contingent consideration liabilities	0	817
Total financial liabilities	$ 7,738	$ 3,455

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands	Apr. 22, 2024 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Release of restricted cash	$ 3,128