Jushi Holdings Inc Class B · CSE:JUSH
Jushi Holdings Inc Class B — Q2 2022 Earnings Presentation
25 slides from Jushi Holdings Inc Class B's earnings presentation, Aug 29, 2022
Slide 1: Jushi Holdings Inc. Q2 2022 Earnings Presentation
Jushi Holdings Inc. Q2 2022 Earnings Presentation
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward - Looking Statements 2 This presentation contains certain "forward - looking information" within the meaning of applicable Canadian securities legislation as well as statements that may constitute "forward - looking statements" within the meaning of within the
Slide 3: Jim Cacioppo, Chief Executive Officer
Jim Cacioppo Chief Executive Officer
Slide 4: Agenda
Financial Highlights Operational Achievements Financial Performance Agenda Outlook Q&A 4
Slide 5: Solid Q2 Top-line Revenue Growth and Improved Sequential Profitability
Solid Q2 Top - line Revenue Growth and Improved Sequential Profitability US$ Millions, prepared under U.S. GAAP 5 $61.9 $72.8 +17.6% Q2 2022 Q1 2022 Revenue *See Disclaimers for the definition of Adjusted EBITDA and “Reconciliation of Non - GAAP Financial Measures” at the end of this pr esentation $
Slide 6: Improved Sell-Through Rate of Jushi Branded Product
Improved Sell - Through Rate of Jushi Branded Product 6 • Significant profitability driver in the coming quarters • Sell - through rate improvement of 770 basis points to 21% vs. 14% in Q1 2022 • Flower and vape products in Pennsylvania reaching 40% of weekly sold units Jushi Brand Penetration
Slide 7: Continued Headway on Cost Savings Measures
Continued Headway on Cost Savings Measures Retail • Optimized labor model in alignment with market activity and demand • Addition of Labor Analyst to maintain increased oversight, tracking, and reporting at all levels • Vendor and product rationalization has resulted in strategic pricing and promoti
Slide 8: Broadened Vertically Integrated Footprint in Nevada with Completion of NuLeaf Acquisition
Broadened Vertically Integrated Footprint in Nevada with Completion of NuLeaf Acquisition • 27,000 sq. ft. cultivation facility in Sparks, NV • 13,000 sq. ft. processing facility in Reno, NV • Four operating dispensaries , three in Las Vegas in Clark County, and one in Incline Village, Lake Tahoe Nu
Slide 9: Phase of Cultivation Expansion Completed: VA & PA Expansion Projects
Scranton, PA Grower - Processor Phase 1 of Cultivation Expansion Completed: VA & PA Expansion Projects Manassas, VA Grower - Processor 9
Slide 10: Scranton, PA
Scranton, PA 10
Slide 11: Manassas, VA; Lakeville, MA; Alexandria, VA
Manassas, VA Lakeville, MA Alexandria, VA
Slide 12: Established Fifth Vertically Integrated State-Level Operation in Ohio
Established Fifth Vertically Integrated State - Level Operation in Ohio 12 PA Verticall y - Integrated Footprint CA NV CO IL OH PA VA FL M A Processing Facility Cultivation Facility Designated Area of Retail License Owned Land for Possible Cultivation Expansion Opening in Q4: Beyond Hello Ρ Cincinna
Slide 13: Expanded West Coast Retail Network
13 Expanded West Coast Retail Network Palm Springs, CA Grover Beach, CA Alexandria, VA Palm Springs, CA 13
Slide 14: Debuted Two New Innovative Product Lines
Debuted Two New Innovative Product Lines Live Resin & Live Rosin Extract Products Now Available in PA Coming Soon to MA, NV, & VA More differentiated products coming to select markets in H2 2022 and 2023 14 Now Available in NV, OH, & VA Coming Soon to MA
Slide 15: Jon Barack, President, Interim Chief Financial Officer
Jon Barack President, Interim Chief Financial Officer 15
Slide 16: Q2 2022 Financial Performance
Q2 2022 Financial Performance $ 61.9 $72.8 Q1'22 Q2'22 Revenue $47.7 $ 72.8 Q2'21 Q2'22 +52.4% US$ Millions, prepared under U.S. GAAP The year - over - year increase in revenue of 52 . 4 % in Q 1 ’ 22 was primarily attributable to the acquisitions in Massachusetts and Nevada, and new Beyond Hello Œ
Slide 17: Q2 2022 Financial Performance
Q2 2022 Financial Performance $19.1 $26.7 Q1'22 Q2'22 Gross Profit $37.3 $38.7 Q1'22 Q2'22 Operating Expenses $(0.9) $0.5 Q1'22 Q2'22 Adj. EBITDA* 30.9% 36.7% US$ Millions, prepared under U.S. GAAP 53.0% 60.3% 17 *See Disclaimers for the definition of Adjusted EBITDA and “Reconciliation of Non - GAA
Slide 18: Liquidity
Liquidity *A s of June 30, 2022, includes cash, cash equivalents and short - term investments **As of June 30 , 2022 , excluding leases and property, plant and equipment financing obligations (Amounts in millions) $100mm Acquisition Facility • Available capacity is $35MM • Ability to increase capaci
Slide 19: Outlook
Outlook
Slide 20: Revenue and Adj. EBITDA Outlook
Revenue and Adj. EBITDA* Outlook $17MM $10MM $81MM $209MM $320 - $350MM 2019A 2020A 2021A Q4 2022 Annualized Revenue Adj. EBITDA *See Disclaimers for the definition of Adjusted EBITDA at the end of this presentation. **Adjusted EBITDA for 2019 through 2021 was presented on a Non - IFRS basis. Q4 202
Slide 21: Disclaimers: Reconciliation of Non-GAAP Financial Measures
Disclaimers JUSHI HOLDINGS INC. Reconciliation of Non - GAAP Financial Measures EBITDA, Adjusted EBITDA and Adjusted Gross Profit In addition to providing financial measurements based on GAAP, the Company provides additional financial metrics that are not prepared in accordance with GAAP . Managemen
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 22 (1) Net income (loss) includes amounts attributable to non - controlling interests. (2) Includes amounts that are included in cost of goods sold and in operating expenses. (3) Includes: ( i ) non - cash share - based compensation expense for the period; and (ii) sev
Slide 23: Adjusted Gross Profit Reconciliation
Adjusted Gross Profit Reconciliation 23 (1) Includes: ( i ) inventory step - up on business combinations; (ii) inventory recall reserves; and (iii) reserves for discontinued products. The inventory step - up on business combinations relate to the fair value write - up on inventory acquired on the bu
Slide 24: Q&A
Q&A
Slide 25: Disclaimers
Disclaimers NO OFFERS This presentation does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities of the Company in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the