.jpg)
2 hours ago
3
Article content
NEW YORK and TORONTO, March 27, 2026 (GLOBE NEWSWIRE) — iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCID: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today reported its financial results for the fourth quarter and year ended December 31, 2025. The Company’s Annual Report on Form 10-K (the “Annual Report”), which includes its audited consolidated financial statements for the year ended December 31, 2025 and the related management’s discussion and analysis of financial condition and results of operations, can be accessed on the Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov, on the System for Electronic Document Analysis and Retrieval’s (SEDAR+) website at www.sedarplus.com, and on the Company’s website at www.iAnthus.com. The Company’s financial statements are reported in accordance with U.S. generally accepted accounting principles (“GAAP”). All currency is expressed in U.S. dollars.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
Fiscal Year 2025 Financial Highlights
Article content
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
- Revenue of $144.0 million, a decrease of 14.1% from the prior year.
- Gross profit of $65.7 million, a decrease of 12.5% from the prior year.
- Gross margin of 45.6%, reflecting an increase of 80 bps from the prior year.
- Net loss of $40.2 million, or a net loss of less than $0.01 per share, compared to a net loss of $7.6 million, or a net loss of less than $0.00 per share in the prior year.
- Adjusted EBITDA(1) of $13.0 million, down $10.9 million from the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below.
Article content
Fourth Quarter 2025 Financial Highlights
Article content
- Revenue of $35.3 million, a sequential decrease of $0.1 million from Q3 2025, and a decrease of $7.4 million from the same quarter in the prior year.
- Gross profit of $15.1 million, a sequential decrease of $0.5 million from Q3 2025, and a decrease of $4.1 million from the same quarter in the prior year.
- Gross margin of 42.7%, reflecting a sequential decrease of 128 bps from Q3 2025, and a decrease of 206 bps from the same quarter in the prior year.
- Net loss of $14.1 million, or a net loss of less than $0.00 per share, compared to a net loss of $12.5 million, or a net loss of less than $0.00 per share in Q3 2025, and compared to a net income of $27.8 million, or a net income of less than $0.00 per share, in the same quarter in the prior year.
- Adjusted EBITDA(1) of $5.4 million, a sequential increase from an Adjusted EBITDA of $2.5 million in Q3 2025, and a decrease from an Adjusted EBITDA of $6.4 million from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below.
Article content
Article content
| Table 1: Financial Results | ||||||||||||
| in thousands of US$, except per share amounts (audited) | FY2025 | FY2024 | Q4 2025 | Q4 2024 | ||||||||
| Revenue | $ | 143,986 | $ | 167,567 | $ | 35,290 | $ | 42,718 | ||||
| Gross profit | 65,697 | 75,114 | 15,085 | 19,139 | ||||||||
| Gross margin | 45.6% | 44.8% | 42.7% | 44.8% | ||||||||
| Net income (loss) | (40,203) | (7,636) | (14,090) | 27,793 | ||||||||
| Net income (loss) per share | (0.01) | (0.00) | (0.00) | 0.00 | ||||||||
Article content
| Table 2: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA(1) | ||||||||||||
| in thousands of US$ (audited) | FY2025 | FY2024 | Q4 2025 | Q4 2024 | ||||||||
| Net income (loss) | $ | (40,203) | $ | (7,636) | $ | (14,090) | $ | 27,793 | ||||
| Depreciation and amortization | 19,290 | 24,736 | 5,345 | 6,045 | ||||||||
| Interest expense, net | 15,515 | 17,170 | 4,031 | 4,427 | ||||||||
| Income tax expense (benefit)(2) | 17,038 | (17,678) | 5,427 | (34,602) | ||||||||
| EBITDA (Non-GAAP)(1) | $ | 11,640 | $ | 16,592 | $ | 713 | $ | 3,663 | ||||
| Adjustments: | ||||||||||||
| Write-downs, (recoveries) and other charges, net | 3,013 | (1,236) | 846 | (14) | ||||||||
| Inventory reserves and write-downs | 111 | 430 | 2 | 247 | ||||||||
| Accretion expense | 4,889 | 4,624 | 1,251 | 1,200 | ||||||||
| Share-based compensation | 1,845 | 2,107 | 327 | 424 | ||||||||
| Losses from changes in fair value of financial instruments | 8 | 46 | – | 18 | ||||||||
| Losses from equity method investments | 13 | 211 | 10 | 50 | ||||||||
| Non-recurring charges(3) | 8,862 | 3,911 | 1,914 | 994 | ||||||||
| Loss on debt extinguishment(4) | – | 114 | – | – | ||||||||
| Gains from deconsolidation of subsidiaries(5) | (12,085) | (2,120) | – | – | ||||||||
| Other (income) expense(6) | (4,482) | (732) | 380 | (171) | ||||||||
| Change in accounting estimate(7) | (811) | – | – | – | ||||||||
| Total Adjustments | $ | 1,363 | $ | 7,355 | $ | 4,730 | $ | 2,748 | ||||
| Adjusted EBITDA (Non-GAAP)(1) | $ | 13,003 | $ | 23,947 | $ | 5,443 | $ | 6,411 | ||||
English (US)