<p>最近的巨石控股公司（Jushi Holdings Inc.）的财报电话会议描绘了公司财务健康状况和运营进展的复杂局面。尽管收入显著增长和运营改善，但净亏损增加和价格压缩问题等挑战抑制了整体的积极情绪。此外，监管不确定性仍然对市场扩展构成障碍。</p>
<h2>收入增长与盈利能力</h2>
<p>巨石控股公司报告收入增长至 6570 万美元，同比增长 410 万美元。第三季度的毛利润为 3070 万美元，占收入的 46.7%，显示出比之前时期的改善。调整后的息税折旧摊销前利润（EBITDA）也增加至 1280 万美元，高于 2024 年第三季度的 1030 万美元。</p>
<h2>运营提升</h2>
<p>公司在运营方面取得了显著改善，特别是在种植方面。每平方英尺的产量增加至 84 克，同比增长 13%，而有效成分 THCa 的平均水平为 27%，超出 2025 年的目标 10.5%。</p>
<h2>零售与批发扩展</h2>
<p>巨石在年末新增了 8 家新店，扩大了零售业务。批发收入也环比增加了 130 万美元。俄亥俄州成为一个强劲的市场，年同比大麻销售增长了 2.4 倍。</p>
<h2>战略投资</h2>
<p>对高回报项目的投资，特别是在宾夕法尼亚州和弗吉尼亚州的种植加工设施，正在增强巨石的供应链，以支持医疗和成人使用，巩固其市场地位。</p>
<h2>净亏损增加</h2>
<p>尽管收入增长，巨石报告净亏损 2370 万美元，较去年 1600 万美元有所增加，突显了持续的财务挑战。</p>
<h2>价格压缩挑战</h2>
<p>价格压缩在各市场仍然是一个重大挑战，尽管运营改善和销售增加，但仍影响盈利能力。</p>
<h2>监管障碍</h2>
<p>监管不确定性，例如宾夕法尼亚州预算停滞影响大麻监管进展，给巨石未来的市场扩展带来了挑战。</p>
<h2>前瞻性指导</h2>
<p>在其前瞻性指导中，巨石控股公司提供了几个关键的财务指标和运营见解。公司报告环比收入增加 60 万美元，年同比增长 410 万美元。零售收入同比增加 330 万美元，得益于俄亥俄州和弗吉尼亚州的强劲表现。尽管净亏损为 2370 万美元，但运营现金流显著改善至 610 万美元，表明财务管理更为有效。</p>
<p>总之，巨石控股公司的财报电话会议突显了增长与挑战的平衡叙述。尽管公司在收入和运营改善方面取得了进展，但仍面临财务挑战和监管障碍。投资者和利益相关者将密切关注巨石在未来几个季度如何应对这些挑战。</p>

巨石

<p>巨石在最近的财报电话会议中报告了混合的业绩，收入增长至 6570 万美元，但净亏损增加至 2370 万美元。运营改善包括种植产量增长 13% 和毛利率达到 46.7%。公司扩大了零售业务，并在俄亥俄州实现了显著的销售增长。然而，价格压缩和监管不确定性等挑战依然存在。前瞻性指引显示收入将持续增长，现金流改善，但财务挑战仍然是投资者的担忧</p>

<p>The recent earnings call of Jushi Holdings Inc. painted a mixed picture of the company’s financial health and operational strides. While there was a notable revenue growth and operational improvements, challenges such as increased net loss and price compression issues tempered the overall positive sentiment. Additionally, regulatory uncertainties continue to pose hurdles for market expansions.</p>
<div class="lb-trans"><p>最近的巨石控股公司（Jushi Holdings Inc.）的财报电话会议描绘了公司财务健康状况和运营进展的复杂局面。尽管收入显著增长和运营改善，但净亏损增加和价格压缩问题等挑战抑制了整体的积极情绪。此外，监管不确定性仍然对市场扩展构成障碍。</p>
</div><h2>Revenue Growth and Profitability</h2>
<div class="lb-trans"><h2>收入增长与盈利能力</h2>
</div><p>Jushi Holdings Inc. reported a revenue increase to $65.7 million, marking a year-over-year growth of $4.1 million. The gross profit for the third quarter was $30.7 million, which represents 46.7% of the revenue, showcasing an improvement from previous periods. The adjusted EBITDA also saw an increase to $12.8 million, up from $10.3 million in the third quarter of 2024.</p>
<div class="lb-trans"><p>巨石控股公司报告收入增长至 6570 万美元，同比增长 410 万美元。第三季度的毛利润为 3070 万美元，占收入的 46.7%，显示出比之前时期的改善。调整后的息税折旧摊销前利润（EBITDA）也增加至 1280 万美元，高于 2024 年第三季度的 1030 万美元。</p>
</div><h2>Operational Enhancements</h2>
<div class="lb-trans"><h2>运营提升</h2>
</div><p>The company has made significant operational improvements, particularly in cultivation. Yields have increased to 84 grams per square foot, a 13% rise year-over-year, and potency levels have averaged 27% THCa, surpassing the 2025 target by 10.5%.</p>
<div class="lb-trans"><p>公司在运营方面取得了显著改善，特别是在种植方面。每平方英尺的产量增加至 84 克，同比增长 13%，而有效成分 THCa 的平均水平为 27%，超出 2025 年的目标 10.5%。</p>
</div><h2>Retail and Wholesale Expansion</h2>
<div class="lb-trans"><h2>零售与批发扩展</h2>
</div><p>Jushi expanded its retail presence with the addition of 8 new stores by the end of the year. The wholesale revenue also increased by $1.3 million sequentially. Ohio emerged as a strong market with a 2.4x increase in cannabis sales year-over-year.</p>
<div class="lb-trans"><p>巨石在年末新增了 8 家新店，扩大了零售业务。批发收入也环比增加了 130 万美元。俄亥俄州成为一个强劲的市场，年同比大麻销售增长了 2.4 倍。</p>
</div><h2>Strategic Investments</h2>
<div class="lb-trans"><h2>战略投资</h2>
</div><p>Investments in high-return projects, especially in grower-processor facilities in Pennsylvania and Virginia, are bolstering Jushi’s supply chain for both medical and adult use, strengthening its market position.</p>
<div class="lb-trans"><p>对高回报项目的投资，特别是在宾夕法尼亚州和弗吉尼亚州的种植加工设施，正在增强巨石的供应链，以支持医疗和成人使用，巩固其市场地位。</p>
</div><h2>Net Loss Increase</h2>
<div class="lb-trans"><h2>净亏损增加</h2>
</div><p>Despite revenue growth, Jushi reported a net loss of $23.7 million, up from $16 million in the previous year, highlighting ongoing financial challenges.</p>
<div class="lb-trans"><p>尽管收入增长，巨石报告净亏损 2370 万美元，较去年 1600 万美元有所增加，突显了持续的财务挑战。</p>
</div><h2>Price Compression Challenges</h2>
<div class="lb-trans"><h2>价格压缩挑战</h2>
</div><p>Price compression remains a significant challenge across markets, impacting profitability despite operational enhancements and increased sales.</p>
<div class="lb-trans"><p>价格压缩在各市场仍然是一个重大挑战，尽管运营改善和销售增加，但仍影响盈利能力。</p>
</div><h2>Regulatory Hurdles</h2>
<div class="lb-trans"><h2>监管障碍</h2>
</div><p>Regulatory uncertainties, such as Pennsylvania’s budget standstill affecting cannabis regulation progress, pose challenges for Jushi’s future market expansions.</p>
<div class="lb-trans"><p>监管不确定性，例如宾夕法尼亚州预算停滞影响大麻监管进展，给巨石未来的市场扩展带来了挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>In its forward-looking guidance, Jushi Holdings Inc. provided several key financial metrics and operational insights. The company reported a sequential revenue increase of $0.6 million and a $4.1 million year-over-year growth. Retail revenue saw a $3.3 million year-over-year increase, driven by strong performances in Ohio and Virginia. Despite a net loss of $23.7 million, cash flows from operations improved significantly to $6.1 million, indicating better financial management.</p>
<div class="lb-trans"><p>在其前瞻性指导中，巨石控股公司提供了几个关键的财务指标和运营见解。公司报告环比收入增加 60 万美元，年同比增长 410 万美元。零售收入同比增加 330 万美元，得益于俄亥俄州和弗吉尼亚州的强劲表现。尽管净亏损为 2370 万美元，但运营现金流显著改善至 610 万美元，表明财务管理更为有效。</p>
</div><p>In conclusion, Jushi Holdings Inc.’s earnings call highlighted a balanced narrative of growth and challenges. While the company has made strides in revenue and operational improvements, it continues to face financial challenges and regulatory hurdles. Investors and stakeholders will be keenly watching how Jushi navigates these challenges in the coming quarters.</p>
<div class="lb-trans"><p>总之，巨石控股公司的财报电话会议突显了增长与挑战的平衡叙述。尽管公司在收入和运营改善方面取得了进展，但仍面临财务挑战和监管障碍。投资者和利益相关者将密切关注巨石在未来几个季度如何应对这些挑战。</p>
</div>

巨石控股公司财报电话会议：在挑战中实现增长