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IANTHUS CAPITAL HLDG ORD (ITHUF) delivers a comprehensive solution for financing and managing licensed cannabis cultivators, processors, and dispensaries throughout the United States. Founded by experienced entrepreneurs in investment banking, corporate finance, law, and healthcare services, iAnthus offers a unique combination of capital and hands-on operating expertise. They support a diversified portfolio of cannabis industry investments, including equity investments in for-profit license holders and lending facilities to not-for-profit license holders.
iAnthus Capital Holdings reported its Q3 2024 financial results, showing mixed performance. Revenue decreased to $40.3 million, down 6.3% from Q2 2024 and 6.1% year-over-year. Gross profit reached $18.1 million with a margin of 44.9%, showing a quarterly decline but yearly improvement. The company reported a net loss of $11.6 million, wider than Q2's $9.8 million loss. Adjusted EBITDA was $5.3 million, decreasing from $8.9 million in Q2 2024 but improving from $0.8 million in Q3 2023.
iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQB: ITHUF) reported its Q2 2024 financial results. Key highlights include:
- Revenue of $43.0 million, up 3.5% from Q1 2024 and 11.1% year-over-year
- Gross profit of $20.7 million, a 20.3% increase from Q1 2024
- Gross margin of 48.1%, up 673bps from Q1 2024
- Net loss of $9.8 million, improved from $14.0 million in Q1 2024
- Adjusted EBITDA of $8.9 million, up from $3.2 million in Q1 2024
The company showed sequential improvements in key financial metrics, indicating positive momentum in its operations across regulated cannabis markets in the United States.
iAnthus Capital Holdings announced the results of their Annual General and Special Meeting of Shareholders held on June 27, 2024. Key resolutions put forward were approved, including the election of Scott Cohen, Michelle Mathews-Spradlin, Kenneth W. Gilbert, Alexander Shoghi, and Richard Proud as directors. Additionally, PKF O'Connor Davies, LLP was appointed as the company's auditors, and the amended and restated Omnibus Incentive Plan received shareholder approval.
iAnthus Capital Holdings announced the opening of its 19th GrowHealthy location in North Port, Florida. The new store features an open concept layout, allowing customers to view and examine products without needing staff assistance. The grand opening event during Memorial Day weekend included live music, food trucks, and special promotions. According to CEO Richard Proud, the new store's sales exceeded forecasts, and customer feedback on the store's atmosphere and reduced wait times was positive. The new concept aims to enhance the shopping experience for Florida's medical cannabis patients.
iAnthus Capital Holdings (CSE: IAN, OTCQB: ITHUF) reported its Q1 2024 financial results ending March 31, 2024. Revenue rose to $41.6 million, up 1.7% from Q4 2023 and 13.1% from Q1 2023. Gross profit increased to $17.2 million, with a gross margin of 41.4%. Net loss decreased to $14.0 million from $18.7 million in Q4 2023. Adjusted EBITDA grew to $3.2 million from $2.8 million in Q4 2023. The company continues to focus on operational efficiency and strategic growth in the U.S. regulated cannabis market. Detailed financials are available on the SEC and SEDAR+ websites.
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