iANTHUS CAPITAL HOLDINGS, INC. (ITHUF)
iAnthus Capital Holdings, Inc. manages and operates a network of licensed cannabis cultivation, processing, and retail dispensary facilities across the United States. The company's diverse product portfolio includes raw cannabis biomass such as pre-rolls, various cannabis-infused items like topical creams and edibles, and a selection of concentrated products such as vape cartridges, live resins, waxes, oils, and tinctures. They also produce and distribute a range of cannabidiol (CBD) products, including topical creams, tinctures, and sprays, alongside a dedicated line of CBD-infused beauty and skincare essentials like lotions, creams, haircare items, lip balms, and bath bombs. iAnthus participates in both the wholesale distribution and direct-to-consumer retail of its CBD offerings. Its operational footprint spans 8 states, encompassing ownership or management of 32 dispensaries and 10 cultivation or processing sites. Founded in 2014, the company is headquartered in New York, New York.
Sector: Agricultural Production-Crops
Industry: Drug Manufacturers - Specialty & Generic
iAnthus Capital Holdings, Inc.
OTC:ITHUFHealthcare · Drug Manufacturers - Specialty & Generic
+6.06%$0.0042
Mkt Cap$29.29M
Float6.74B
O/S6.97B
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$143.99M
Net Income-$40.91M
Total Assets$255.99M
Free Cash Flow-$20.63M
Debt & Equity
Debt 183%
Total Debt$227.56M
Total Equity-$103.04M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ITHUF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$255.99M
Liabilities$359.03M
Accounts Receivable$6.43M
Accounts Payable$16.27M
Inventory$22.25M
PP&E (Net)$134.17M
Goodwill$1.56M
Intangible Assets$67.48M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $143.99M | $167.57M | $159.24M | $163.21M | $203.02M | $151.67M | $78.38M | $3.41M | $2.41M | $392K | $46K | $0 |
| YoY Growth | -14.1% | 5.2% | -2.4% | -19.6% | 33.9% | 93.5% | 2201.8% | 41.5% | 514.6% | 759.5% | - | - |
| Cost of Revenue | $99.29M | $92.45M | $96.07M | $88.78M | $91.73M | $64.99M | $38.52M | $6.19M | $0 | $0 | $0 | $0 |
| Gross Profit | $47.22M | $75.11M | $63.17M | $74.43M | $111.28M | $86.68M | $39.87M | -$2.78M | $2.41M | $392K | $46K | $0 |
| Gross Margin | 32.8% | 44.8% | 39.7% | 45.6% | 54.8% | 57.2% | 50.9% | -81.7% | 100.0% | 100.0% | 100.0% | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $58.63M | $59.87M | $78.01M | $112.39M | $94.86M | $109.04M | $102.19M | $35.52M | $9.81M | $4.02M | $1.36M | $1.56M |
| Other | $2.25M | $23.76M | $25.87M | $32.26M | $30.52M | $29.3M | $23.63M | $6.35M | -$18K | $0 | $0 | $0 |
| Total Operating Expenses | $60.89M | $83.63M | $103.88M | $144.65M | $127.48M | $138.33M | $114.45M | $41.87M | $9.96M | $4.03M | $1.36M | $1.56M |
| Operating Income (EBIT) | -$14.59M | -$8.51M | -$40.71M | -$70.22M | -$14.11M | -$51.65M | -$74.5M | -$31.65M | -$7.55M | -$3.64M | -$1.32M | -$1.56M |
| Operating Margin | -10.1% | -5.1% | -25.6% | -43.0% | -7.0% | -34.1% | -95.0% | -929.3% | -313.6% | -928.6% | -2887.6% | - |
| Interest Expense | $21.49M | $21.8M | $30.16M | $21.37M | $32.67M | $37.65M | $23.97M | $20.93M | $2.49M | $291K | $0 | $0 |
| Interest Income | $13.75M | $5.16M | $1.85M | $83K | $517K | $403K | $74K | $567K | $1.98M | $306K | $21K | $0 |
| Other Income (Expense) | -$8.98M | -$16.8M | -$19.21M | -$326.25M | -$31.48M | -$49.68M | $12.59M | -$21.28M | -$4.04M | -$1.42M | $0 | -$1K |
| Income Before Tax (EBT) | -$23.57M | -$25.31M | -$59.92M | -$438.7M | -$54M | -$290.07M | -$304.28M | -$62.03M | -$13.72M | -$5.06M | -$1.32M | -$1.56M |
| Income Tax Expense | $17.34M | -$17.68M | $16.7M | $10.69M | $22.25M | $19.96M | -$3.02M | $9.45M | $2.27M | $327K | $0 | -$1K |
| Net Income | -$40.91M | -$7.64M | -$76.62M | -$449.39M | -$76.25M | -$310.03M | -$301.25M | -$71.48M | -$13.72M | -$5.06M | -$1.32M | -$1.56M |
| Net Income Margin | -28.4% | -4.6% | -48.1% | -275.3% | -37.6% | -204.4% | -384.3% | -2099.0% | -569.8% | -1290.9% | -2887.6% | - |
| Supplementary Data | ||||||||||||
| EPS | -0.01 | -0.00 | -0.01 | -0.07 | -0.44 | -1.81 | -1.90 | -1.12 | -0.48 | -0.32 | -0.08 | -0.00 |
| Diluted EPS | -0.01 | -0.00 | -0.01 | -0.07 | -0.44 | -1.81 | -1.90 | -1.12 | -0.48 | -0.32 | -0.08 | -0.00 |
| Weighted Average OS | 6.70B | 6.54B | 6.44B | 6.40B | 171.72M | 171.65M | 158.21M | 63.86M | 28.58M | 15.80M | 16.95M | 978.10M |
| EBITDA | $4.7M | $21.39M | -$2.59M | -$380.69M | $7.96M | -$229.16M | -$267.16M | -$32.65M | -$9.68M | -$4.7M | $0 | $0 |
| EBITDA Margin | 3.3% | 12.8% | -1.6% | -233.2% | 3.9% | -151.1% | -340.8% | -958.8% | -402.1% | -1200.0% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $11.65M | $18.54M | $13.1M | $14.34M | $13.24M | $11.02M | $34.82M | $15.29M | $6.18M | $9.41M | $212K | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $11.65M | $18.54M | $13.1M | $14.34M | $13.24M | $11.02M | $34.82M | $15.29M | $6.18M | $9.41M | $212K | $0 |
| Accounts Receivable | $6.43M | $5.54M | $4.61M | $4M | $3.6M | $3.35M | $5.27M | $3.85M | $385K | $447K | $33K | $0 |
| Inventory | $22.25M | $22.47M | $25.38M | $29.8M | $30.45M | $30.29M | $40.98M | $16.3M | $256K | $9.69M | -$269K | $0 |
| Other Current Assets | $4.86M | $25.73M | $314K | $272K | $4.94M | $2.19M | $2.73M | $1.28M | $435K | $358K | $0 | $0 |
| Total Current Assets | $48.73M | $74.59M | $45.51M | $50.62M | $55.4M | $50.46M | $87.11M | $42M | $18.32M | $10.07M | $514K | $10K |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $134.17M | $111.5M | $121.38M | $131.72M | $143.06M | $140.08M | $132.85M | $29.58M | $10.29M | $1.96M | $0 | $0 |
| Goodwill | $1.56M | $6.15M | $0 | $0 | $0 | $0 | $201.01M | $37.45M | $7.18M | $2M | $0 | $0 |
| Intangible Assets | $67.48M | $72.86M | $105.37M | $117.05M | $139.06M | $158.78M | $177.59M | $56.49M | $4.44M | $430K | $0 | $0 |
| Long-Term Investments | $840K | $862K | $731K | $232K | $568K | $512K | $2.85M | $2.63M | $5.29M | $2.51M | $100K | $0 |
| Deferred Tax Assets | $0 | $514 | $4K | $23.82M | $27.51M | $32.12M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $3.21M | $5.03M | $4.41M | -$19.97M | -$18.86M | -$23.98M | $2.68M | $234K | $306K | $2.99M | $245K | $0 |
| Total Long-Term Assets | $207.25M | $196.41M | $231.9M | $252.84M | $291.34M | $307.51M | $516.99M | $126.39M | $27.5M | $9.89M | $345K | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $255.99M | $271.04M | $277.41M | $303.47M | $346.74M | $357.97M | $604.1M | $168.39M | $45.82M | $19.96M | $859K | $10K |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $16.27M | $12.83M | $14.4M | $10.69M | $13.64M | $12.09M | $16.27M | $6.51M | $2.36M | $437K | $312K | $261K |
| Short-Term Debt | $0 | $65K | $55K | $51K | $165.38M | $164.49M | $10.85M | $0 | $1.03M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $23.82M | $99.45M | $56.38M | $0 | $0 | $422K | $0 | $0 | $0 |
| Other Current Liabilities | $30K | $55.86M | $302K | $0 | $529K | -$7.21M | $1.67M | $1.81M | $5.38M | $890K | $0 | $12K |
| Total Current Liabilities | $68.51M | $75.29M | $125.43M | $92.57M | $285.82M | $233.21M | $44.18M | $8.32M | $9.19M | $1.71M | $445K | $479K |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $193.63M | $182.15M | $165.22M | $147.26M | $28M | $14.13M | $131.2M | $31.23M | $13.57M | $735K | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | -$27.51M | -$32.12M | $0 | -$17.59M | -$9.19M | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $23.82M | $27.51M | $32.12M | $43.35M | $17.59M | $1.24M | $0 | $0 | $0 |
| Other Long-Term Liabilities | $69.62M | $57.43M | $20.41M | $23.82M | $27.51M | $32.12M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $290.51M | $261.29M | $213.64M | $199.91M | $83.32M | $73.92M | $193.92M | $48.82M | $14.8M | $735K | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $359.03M | $336.58M | $339.07M | $292.48M | $369.14M | $307.13M | $238.1M | $57.14M | $24M | $2.45M | $445K | $479K |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $659.79M | $158.37M | $32.68M | $19.31M | $1.96M | $0 |
| Retained Earnings | -$1.38B | -$1.34B | -$1.33B | -$1.25B | -$800.39M | -$720.63M | -$384.85M | -$82.51M | -$20.48M | -$6.76M | -$1.71M | -$391K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $1.53M | $1.53M | $89.52M | $33.27M | $9.51M | $72K | $164K | -$78K |
| Other Stockholders' Equity | $1.27B | $1.27B | $1.27B | $1.26B | $777.99M | $771.47M | $91.05M | $35.4M | $9.62M | $4.96M | $164K | -$78K |
| Total Equity | -$103.04M | -$65.54M | -$61.67M | $10.99M | -$22.4M | $50.84M | $366M | $111.26M | $21.83M | $17.51M | $415K | -$469K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $255.99M | $271.04M | $277.41M | $303.47M | $346.74M | $357.97M | $604.1M | $168.39M | $45.82M | $19.96M | $859K | $10K |
| Supplementary Data | ||||||||||||
| Total Debt | $227.56M | $210.46M | $201M | $183.94M | $228.54M | $206.29M | $166.64M | $31.23M | $14.6M | $735K | $0 | $0 |
| Net Debt | $215.91M | $191.92M | $187.9M | $169.6M | $215.29M | $195.28M | $131.82M | $15.94M | $8.42M | -$8.68M | -$212K | $0 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Operating Activities | ||||||||||||
| Net Income | -$14.09M | -$7.64M | -$76.62M | -$449.39M | -$76.25M | -$309.85M | -$301.25M | -$62.03M | -$13.72M | -$5.06M | -$1.32M | -$1.56M |
| Depreciation & Amortization | $19.29M | $24.74M | $27.17M | $31.39M | $31.04M | $27.92M | $22.49M | $6.35M | $144K | $8K | $1.32M | $1.56M |
| Deferred Income Tax | $0 | -$20.27M | -$3.49M | -$7.78M | -$4.62M | -$4.54M | -$8.75M | $1.25M | $3.69M | $291K | $0 | $0 |
| Stock-Based Compensation | $1.84M | $2.11M | $4.54M | $30.43M | $6.52M | $11.54M | $20.48M | $7.52M | $2.9M | $1.06M | $164K | $0 |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | $4.45M | -$1.76M | -$828K | -$470K | -$157K | $2.64M | -$2.71M | $1.53M | -$10K | -$334K | -$52K | $0 |
| Inventory | -$4.57M | $1.57M | $2.78M | -$1.11M | -$6.9M | -$10.08M | $4.54M | -$5.64M | $0 | $0 | $0 | $0 |
| Accounts Payable | $1.97M | -$2M | $3.04M | -$3.1M | $1.55M | $10.13M | -$2.45M | $2.16M | $533K | $126K | $0 | $0 |
| Other Working Capital | $7.6M | -$3.41M | $20.05M | $21.35M | $22.09M | $6.33M | -$7.21M | -$2.82M | -$391K | -$527K | -$108K | $0 |
| Total Working Capital Change | $9.44M | -$5.6M | $25.87M | $16.68M | $16.59M | $9.02M | -$7.83M | -$2.82M | $132K | -$527K | -$108K | $0 |
| Other Non-Cash Items | -$13.34M | $19.21M | $25.56M | $359.18M | $42.86M | $252.82M | $229.02M | $20.72M | $359K | $935K | -$1.32M | $1K |
| Net Cash from Operating | $3.15M | $12.54M | $3.02M | -$19.5M | $16.15M | -$13.07M | -$45.85M | -$29.01M | -$6.49M | -$3.28M | -$1.26M | $0 |
| Investing Activities | ||||||||||||
| Capital Expenditures | -$23.78M | -$5.52M | -$3.57M | -$7.05M | -$20.4M | -$14.26M | -$49.48M | -$13.9M | -$708K | -$2K | $0 | $0 |
| Acquisitions | $0 | $0 | -$68K | $4K | $273K | $296K | -$4.83M | -$18.21M | $433K | -$4.39M | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | -$296K | -$4.15M | $0 | -$10.12M | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $2.48M | $4.15M | $0 | $670K | $0 | $0 | $0 |
| Other Investing Activities | $26.07M | -$762K | $10K | $2.31M | -$1.19M | $281K | $312K | $8.52M | -$13.33M | -$4.39M | -$564K | $0 |
| Net Cash from Investing | $2.3M | -$6.28M | -$3.63M | -$4.74M | -$21.32M | -$11.49M | -$53.99M | -$23.6M | -$23.05M | -$8.78M | -$564K | $0 |
| Financing Activities | ||||||||||||
| Debt Repaid | $12.58M | $56K | $49K | -$23.89M | -$10.93M | -$3.49M | -$116.11M | -$19.61M | -$16.44M | -$1.3M | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $920K | $43.88M | $12.14M | $21.29M | $2.25M | $0 |
| Common Stock Repurchases | $0 | -$283K | -$569K | -$1.82M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$91K | $0 | -$569K | $0 | -$694K | -$2.23M | -$3.05M | $5.57M | $9.63M | -$1.35M | -$220K | $0 |
| Net Cash from Financing | -$12.67M | -$339K | -$618K | $22.06M | $10.24M | $1.26M | $113.98M | $69.06M | $26.07M | $21.24M | $2.03M | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $117K | -$2.06M | $235K | $905 | $0 | $0 |
| Net Change in Cash | -$7.23M | $5.92M | -$1.23M | -$2.17M | $5.07M | -$23.31M | $14.25M | $14.39M | -$3.24M | $9.2M | $212K | $0 |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | $3.15M | $12.54M | $3.02M | -$19.5M | $16.15M | -$13.07M | -$45.85M | -$29.01M | -$6.49M | -$3.28M | -$1.26M | $0 |
| Capital Expenditure | -$23.78M | -$5.52M | -$6.08M | -$7.05M | -$20.4M | -$14.26M | -$49.48M | -$13.9M | -$708K | -$2K | $0 | $0 |
| Free Cash Flow | -$20.63M | $7.03M | -$3.06M | -$26.55M | -$4.25M | -$27.33M | -$95.33M | -$42.92M | -$7.2M | -$3.29M | -$1.26M | $0 |
| Cash at Beginning | $19.1M | $13.18M | $14.41M | $16.58M | $11.51M | $34.82M | $20.57M | $6.18M | $9.41M | $212K | $0 | $0 |
| Cash at End | $11.87M | $19.1M | $13.18M | $14.41M | $16.58M | $11.51M | $34.82M | $20.57M | $6.18M | $9.41M | $212K | $0 |