iAnthus Capital Holdings, Inc.
0.0090+0.00 (+12.5%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · ITHUF · USD
Key Stats
Market Cap
60.65MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
iAnthus Capital Holdings posted Q2 revenues of $35.2M, down 18% y/y but up 10% q/q (derived), as divestitures in Arizona and Nevada trimmed the Western footprint while Eastern markets like New Jersey and new Cheetah brand entries in Illinois and Pennsylvania added $0.9M. Gross profit held at $16.2M with margins dipping to 45.9% from 48.1% y/y, pressured by Florida's pricing squeeze yet buoyed by higher-margin in-house products elsewhere. Operating loss widened to $5.4M from $0.2M y/y, but net loss narrowed to $18.7M versus $9.8M, with the gap to operating loss tied to $4.1M interest expense and $4.1M taxes under IRC Section 280E. Cash climbed to $23.5M, up from $18.5M year-end, fueled by $6.3M operating cash flow and $15.8M Arizona sale proceeds, while total debt eased to $187.1M; free cash flow not disclosed in the 10-Q. The Cheetah acquisition closed December 2024 for $3.5M (cash/stock/earn-out), recognizing $6.5M goodwill. Divestitures sharpened focus on high-potential Eastern states. Federal illegality under the Controlled Substances Act remains a core overhang.
8-K
Q2 revenue falls to $35.2M
iAnthus Capital Holdings reported Q2 2025 revenue of $35.2 million, down from $38.1 million in Q1 and $43.0 million a year ago, with gross profit slipping to $16.2 million and margins contracting to 46%. A swing to a $18.7 million net loss, versus Q1's $5.1 million profit, stemmed from non-recurring charges and higher taxes, yet Adjusted EBITDA held at $1.9 million. Revenue dipped sharply.
8-K
Annual meeting approvals secured
iAnthus Capital Holdings held its 2025 annual general meeting on June 26, securing strong shareholder approval for all proposals. The five director nominees—Scott Cohen, Michelle Mathews-Spradlin, Kenneth W. Gilbert, Alexander Shoghi, and Richard Proud—each garnered over 3.9 billion 'for' votes out of 4 billion shares present, while PKF O'Connor Davies was reappointed as auditors with near-unanimous support. Votes sailed through. This endorsement stabilizes governance amid the company's U.S. cannabis operations.
8-K
iAnthus Q1 revenue falls, profit rises
iAnthus Capital Holdings reported Q1 2025 revenue of $38.1 million, down from $42.7 million in Q4 2024 and $41.6 million in Q1 2024, yet gross profit held at $18.9 million with a 50% margin, up from 44.8% and 41.4% respectively. Net income swung to $5.1 million from a $28.0 million Q4 gain and Q1 2024's $14.0 million loss, boosted by a $12.1 million gain from selling Nevada and Arizona assets. Adjusted EBITDA dipped to $3.2 million. Asset sales streamline operations amid regulatory hurdles.
10-Q
Q1 FY2025 results
iAnthus Capital Holdings swung to a $5.2M net income in Q1 FY2025 ended March 31, 2025, from a $14.0M loss a year earlier, while revenue dipped 8.3% y/y to $38.1M amid divestitures in Nevada and Arizona. Gross profit climbed 9.7% y/y to $18.9M, lifting margins to 49.5% from 41.4%, thanks to a $1.2M favorable inventory valuation adjustment and higher-margin in-house products in New Jersey and Maryland. Operating loss narrowed to $2.0M from $5.0M, but interest expense held steady at $4.2M; the net swing stemmed from $12.1M in gains on asset sales and $3.0M in employee retention credits, offset by $4.0M in taxes. Cash rose to $24.2M from $18.5M q/q, with $3.1M in operating cash flow and $11.1M from investing inflows including $15.8M from Arizona sales, funding $8.3M in debt repayments; total debt fell to $183.1M from $182.3M q/q. The Cheetah acquisition closed in December 2024 for $3.5M in cash and stock plus $3.1M contingent earn-out, adding $6.3M in goodwill and intangibles. Federal illegality under the Controlled Substances Act poses ongoing risks to operations.
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