Jushi Holdings Inc. (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator released preliminary financial results for the third quarter of 2022, with revenue of $72.8 million, up by 34.9% year-over-year, and flat sequentially.
Gross profit was $27.7 million, an increase of 18.9% year-over-year and 4.0% as compared to Q2 2022. Net loss was in the range of $52.9 to $62.8 million, compared to a net loss of $39.7 million in the same period year ago. Adjusted EBITDA amounted to $700,000 which was flat as compared to $700,000 in Q2 2022, and a decrease of $5.5 million compared to $6.2 million in Q3 2021.
Cantor Fitzgerald’s Pablo Zuanic kept a ‘Neutral’ rating on Jushi stock, raising the price target to $2.35 from …