iAnthus Capital Holdings, Inc.

ITHUF: 10-Q · periodic report

iAnthus Capital Holdings reported Q2 2026 revenue of $35.3 million, essentially flat versus the prior-year quarter, with a net loss of $14.4 million; the six-month net loss widened to $28.7 million from $13.6 million a year earlier, driven largely by a jump in income tax expense to $14.0 million. The 10-Q carries explicit going-concern language: the company reported a $232.7 million working capital deficiency, a $1.4 billion accumulated deficit, negative shareholders' equity of $130.7 million, and its entire $203.5 million debenture debt stack now classified as current and maturing June 24, 2027 — against just $8.0 million of cash. On August 12, 2026, affiliates of Gotham Green Partners provided a new $2.5 million revolving credit line at 12% interest due June 27, 2027, undrawn as of the filing; the company also disclosed roughly $39.6 million of IRS federal tax liens against certain subsidiaries and continues to face multiple legacy lawsuits. With about 7.0 billion shares outstanding following the 2022 recapitalization and six-month revenue down 6.1% year over year, the filing signals iAnthus will likely need further asset sales, refinancing, or another restructuring ahead of the 2027 maturity wall.

SEC 10-Q•2mo ago

ITHUF: 8-K · earnings release

iAnthus Capital Holdings, Inc. reported a revenue of $33.5 million for the first quarter of 2026, a sequential decrease of $1.8 million from Q4 2025 and a decrease of $4.6 million from the same quarter in the prior year. This decline in revenue may indicate ongoing operational challenges for the company. The company's gross profit for Q1 2026 was $15.9 million, a sequential increase of $0.8 million from Q4 2025, but a decrease of $3.0 million from the same quarter in the prior year. The gross margin improved sequentially by 477 basis points to 47.5%, but decreased by 201 basis points from the prior year. iAnthus reported a net loss of $14.3 million, or less than $0.00 per share, for Q1 2026. This is consistent with the net loss of $14.1 million in Q4 2025, but a significant shift from the net income of $5.2 million in the same quarter of the prior year. Adjusted EBITDA for Q1 2026 was $3.4 million, a sequential decrease from $5.4 million in Q4 2025, but an increase from $3.2 million in the same quarter of the prior year. The decrease in Adjusted EBITDA from the previous quarter suggests a decline in operational performance.

SEC 8-K•5mo ago

ITHUF: 10-Q · periodic report

iAnthus Capital Holdings, Inc. reported a net loss of $14.3 million for the three months ended March 31, 2026, compared to a net income of $5.15 million in the same period of 2025. This significant decline in profitability is primarily due to increased operating expenses and a decrease in other income. The company also has a working capital deficit of $21.9 million, which casts substantial doubt on its ability to continue as a going concern. However, the company has taken steps to address liquidity constraints and expects to continue generating positive cash flows from operations. The company's revenue decreased by 12.1% year-over-year to $33.51 million. The decrease in revenue is mainly attributed to a decline in sales in the Established Region, particularly in Florida and Arizona, due to competitive pressures and asset divestitures. The Emerging Region, which includes operations in New Jersey, Maryland, New York, Illinois, and Pennsylvania, saw a slight increase in revenue, driven by higher sales in Maryland and New Jersey. The company's gross profit decreased to $15.92 million, or 47.5% of sales, compared to $18.88 million, or 49.5% of sales, in the same period of 2025. The decrease in gross profit is primarily due to increased competitive pressures in Florida and Arizona, which led to price compression and higher sales discounts. The company's total operating expenses decreased by 12.8% to $18.21 million, driven by a reduction in legal, marketing, and other professional fees. The company has also appointed Jason Ware as Chief Financial Officer, effective April 29, 2026, with an annual base salary of $325,000 and a grant of restricted stock units with a fair market value of $300,000.

SEC 10-Q•5mo ago