NEW YORK and TORONTO, Aug. 12, 2025 (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 second quarter ended June 30, 2025. The Company’s Quarterly Report on Form 10-Q (the “Quarterly Report”), which includes its unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 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.
Second Quarter 2025 Financial Highlights
- Revenue of $35.2 million, a decrease of $2.9 million from Q1 2025 and a decrease of $7.8 million from the same quarter in the prior year.
- Gross profit of $16.2 million, a decrease of $2.7 million from Q1 2025 and a decrease $4.5 million from the same quarter in the prior year.
- Gross margin of 46%, reflecting a decrease of 362 bps when compared to Q1 2025 and a decrease of 221 bps from the same quarter in the prior year.
- Net loss of $18.7 million, or a net loss of less than $0.00 per share, compared to a net income of $5.1 million, or a net income of less than $0.00 per share in Q1 2025, and compared to a net loss of $9.8 million, or a net loss of $0.00 per share, in the same quarter in the prior year.
- Adjusted EBITDA(1) of $1.9 million, a decrease from an Adjusted EBITDA of $3.2 million in Q1 2025, and a decrease from an Adjusted EBITDA of $8.9 million from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below.
| Table 1: Financial Results | ||||||||
| in thousands of US$, except per share amounts (unaudited) | Q2 2025 | Q1 2025 | Q2 2024 | |||||
| Revenue | $ | 35,185 | $ | 38,121 | $ | 42,999 | ||
| Gross profit | 16,152 | 18,878 | 20,690 | |||||
| Gross margin | 45.9% | 49.5% | 48.1% | |||||
| Net income (loss) | (18,718) | 5,150 | (9,789) | |||||
| Net income (loss) per share | (0.00) | 0.00 | (0.00) | |||||
| Table 2: Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA(1) | ||||||||
| in thousands of US$ (unaudited) | Q2 2025 | Q1 2025 | Q2 2024 | |||||
| Net income (loss) | $ | (18,718) | $ | 5,150 | $ | (9,789) | ||
| Depreciation and amortization | 4,599 | |||||||