Latest news with #iAnthus'
Toronto Star
2 days ago
- Business
- Toronto Star
iAnthus Reports Second Quarter 2025 Financial Results
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 on the System for Electronic Document Analysis and Retrieval's (SEDAR+) website at and on the Company's website at 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.
Business Upturn
18-07-2025
- Business
- Business Upturn
iAnthus Continues Expansion in Florida with GrowHealthy Dispensary of Palm Harbor
NEW YORK and TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — iAnthus Capital Holdings, Inc. ('iAnthus' or the 'Company') (CSE: IAN, OTCQB: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, has announced the opening of its 22nd GrowHealthy dispensary in Florida, now serving patients in Palm Harbor. The new dispensary opened last week with a ribbon-cutting ceremony and a three-day celebration that included exclusive promotions, live events, and access to new, premium Sunshine State products. 'The Palm Harbor community has been asking for a GrowHealthy location for some time, and we are thrilled to finally open our doors,' said Kelly Heinichen, Vice President of Retail Operations at iAnthus. 'From day one, our focus has been clear – offer safe, consistent access to the highest quality medical cannabis in Florida. Everything about this space – from the layout to the lighting to the local vibes – was built with the patient in mind.' GrowHealthy's commitment to high-quality genetics and whole-plant wellness sets it apart in a crowded market. As a company built by cultivators and caregivers, GrowHealthy continues to lead with flower-first values, local relationships, and a deep respect for the plant. Patients of the dispensary have access to a variety of products, including flower, vapes, concentrates and other medicinal offerings. 'From the moment you walk in, you feel it – the energy, the intention, the hospitality,' said Kassandra Jones, District Manager at GrowHealthy. 'Whether you're new to medical cannabis or a seasoned patient, our Palm Harbor team is here to listen, guide, and make sure every patient leaves feeling more confident in their wellness journey.' The grand opening is part of iAnthus' broader strategy to expand access to high-quality cannabis across Florida while delivering a modern, approachable retail experience that redefines what a dispensary can be. Located at 2431 Tampa Road, Palm Harbor, Florida (across from the Ferrari dealership), the dispensary will be open Monday-Saturday 9am-8:30pm and Sunday 9am-8pm. About iAnthus iAnthus is a vertically integrated cannabis company on a mission to build premium brands through a network of cultivation, production, and retail operations across the United States. Backed by a leadership team with deep expertise in cultivation, operations, and capital markets, the company strategically leverages acquisition-driven growth and access to capital to create long-term competitive advantage. iAnthus' brand portfolio includes: MPX, Anthologie, Black Label, Cheetah, Frūtful, Last Resort, Moodz and Sunshine State. For more information, visit Forward Looking Statements Statements in this news release contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Company's reports that it files from time to time with the United States Securities and Exchange Commission (the 'SEC') and the Canadian securities regulators which you should review including, but not limited to, the Company's Annual Report on Form 10-K filed with the SEC. When used in this news release, words such as 'will,' could,' plan,' estimate,' expect,' intend,' may,' potential,' believe, 'should' and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements relating to the Company's financial performance, business development and results of operations. These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that it will achieve its objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law. Neither the Canadian Securities Exchange nor the SEC has reviewed, approved or disapproved the content of this news release. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
12-05-2025
- Business
- Yahoo
iAnthus Reports First Quarter 2025 Financial Results
NEW YORK and TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- iAnthus Capital Holdings, Inc. ('iAnthus' or the 'Company') (CSE: IAN, OTCQB: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today reported its financial results for the first quarter ended March 31, 2025. The Company's Quarterly Report on Form 10-Q (the 'Quarterly Report'), which includes its unaudited interim condensed consolidated financial statements for the first quarter ended March 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 on the System for Electronic Document Analysis and Retrieval's (SEDAR+) website at and on the Company's website at 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. First Quarter 2025 Financial Highlights Revenue of $38.1 million, a decrease of $4.6 million from Q4 2024 and a decrease of $3.4 million from the same quarter in the prior year. Gross profit of $18.9 million, a decrease of $0.3 million from Q4 2024 and an increase $1.7 million from the same quarter in the prior year. Gross margin of 50%, reflecting an increase of 472 bps when compared to Q4 2024 and an increase of 814 bps from the same quarter in the prior year. Net income of $5.1 million, or a net income of less than $0.00 per share, compared to a net income of $27.8 million, or a net income of less than $0.00 per share in Q4 2024, and compared to a net loss of $14.0 million, or a net loss of $0.00 per share, in the same quarter in the prior year. Adjusted EBITDA(1) of $3.2 million, a decrease from an Adjusted EBITDA of $6.4 million in Q4 2024, and remains consistent from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below. Table 1: Financial Results in thousands of US$, except per share amounts (unaudited) Q1 2025 Q4 2024 Q1 2024 Revenue $ 38,121 $ 42,718 $ 41,564 Gross profit 18,878 19,139 17,201 Gross margin 49.5 % 44.8 % 41.4 % Net income (loss) 5,150 27,793 (13,998 ) 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) Q1 2025 Q4 2024 Q1 2024 Net income (loss) $ 5,150 $ 27,793 $ (13,998 ) Depreciation and amortization 4,709 6,045 6,371 Interest expense, net 4,212 4,427 4,151 Income tax (benefit) expense(2) 4,009 (34,602 ) 4,356 EBITDA (Non-GAAP)(1) $ 18,080 $ 3,663 $ 880 Adjustments: (Recoveries), write-downs and other charges, net (149 ) (14 ) 397 Inventory reserves and write-downs 110 247 - Accretion expense 1,189 1,200 1,072 Share-based compensation 521 424 434 Losses (gains) from changes in fair value of financial instruments 4 18 (7 ) Loss on equity method investments 17 50 62 Non-recurring charges(3) 374 994 720 Loss on debt extinguishment(4) - - 114 (Gains) losses from deconsolidation of subsidiaries(5) (12,085 ) - - Other income(6) (4,047 ) (171 ) (427 ) Change in accounting estimate(7) (811 ) - - Total Adjustments $ (14,877 ) $ 2,748 $ 2,365 Adjusted EBITDA (Non-GAAP)(1) $ 3,203 $ 6,411 $ 3,245 (1) See 'Non-GAAP Financial Information' below for more information regarding the Company's use of non-GAAP financial measures. (2) Prior period amounts have been conformed to follow an accounting policy change made by the Company to aggregate interest and penalties related to accrued income taxes within "income tax expense" from within "selling, general and administrative expenses" in its unaudited interim condensed consolidated statement of operations. (3) Includes one-time, non-recurring costs related to strategic review processes, ongoing legal disputes, severance and other non-recurring costs. (4) Q1 2024 reflects a loss of $0.1 million on debt extinguishment related to the second amendment of the $11.0 million senior secured bridge notes issued by iAnthus New Jersey, LLC on February 16, 2024. (5) Q1 2025 reflects a gain of $12.1 million from deconsolidation following the sale of Nevada and certain Arizona assets. (6) Q1 2025 reflects $3.0 million of Employee Retention Tax Credits received during the quarter and $1.0 million of forgiven deferred professional fees. Q4 2024 reflects approximately $0.2 million of accounts payable write-offs and vendor credits. Q1 2024 reflects $0.4 million of insurance refunds and accounts payable write-offs and vendor credits. (7) Effective January 2025, the Company implemented a change in accounting estimate with respect to inventory valuation from weighted average to standard costing. Non-GAAP Financial Information This press release includes certain non-GAAP financial measures as defined by the SEC and the Canadian Securities Administrators. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are included in the tables above. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP. In evaluating our business, we consider and use EBITDA and Adjusted EBITDA as supplemental measures of operating performance. We define EBITDA as earnings before interest, taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA before share-based compensation, accretion expense, write-downs and impairments, gains and losses from changes in fair values of financial instruments, income or losses from equity-accounted investments, the effect of changes in accounting policy, non-recurring costs related to the Company's Recapitalization Transaction, litigation costs related to ongoing legal proceedings, and other income. We present EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance of other similarly situated companies in our industry, and we present Adjusted EBITDA because it removes non-recurring, irregular and one-time items that we believe may distort the comparability of EBITDA from period-to-period and with other industry participants. EBITDA and Adjusted EBITDA are not standardized financial measures defined under GAAP, and are not a measure of operating income, operating performance or liquidity presented in accordance with GAAP. EBITDA and Adjusted EBITDA have limitations as an analytical tool, and when assessing the Company's operating performance, investors should not consider EBITDA or Adjusted EBITDA in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with GAAP. Among other things, EBITDA and Adjusted EBITDA do not reflect the Company's actual cash expenditures. Other companies may calculate similar measures differently than us, limiting their usefulness as comparative tools. We compensate for these limitations by relying on GAAP results and using EBITDA and Adjusted EBITDA only as supplemental information. About iAnthus iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit Forward Looking Statements Statements in this press release contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in the Company's reports that it files from time to time with the SEC and the Canadian Securities Regulators, which you should review, including, but not limited to, the Annual Report filed with the SEC. When used in this press release, words such as 'will,' 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'believe', 'should' and similar expressions identify forward-looking statements. Forward-looking statements may include, without limitation, statements relating to the Company's financial performance, business development and results of operations. These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law. Neither the Canadian Securities Exchange nor the U.S. Securities and Exchange Commission has reviewed, approved or disapproved the content of this press release. CONTACT: Contact Information Corporate/Media/Investors: Justin Vu, Chief Financial Officer iAnthus Capital Holdings, Inc. 1-646-518-9418 investors@
