NEW YORK and TORONTO, Nov. 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 third quarter ended September 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 nine months ended September 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.

Third Quarter 2025 Financial Highlights

Revenue of $35.4 million, an increase of $0.2 million from Q2 2025 and a decrease of $4.9 million from the same quarter in the prior year.

Gross profit of $15.6 million, a decrease of $0.6 million from Q2 2025 and a decrease $2.5 million from the same quarter in the prior year.

Gross margin of 44%, reflecting a decrease of 188 bps when compared to Q2 2025 and a decrease of 86 bps from the same quarter in the prior year.

Net loss of $12.5 million, or a net loss of less than $0.00 per share, compared to a net loss of $18.7 million, or a net loss of less than $0.00 per share in Q2 2025, and compared to a net loss of $11.6 million, or a net loss of $0.00 per share, in the same quarter in the prior year.

Adjusted EBITDA(1) of $2.5 million, an increase from an Adjusted EBITDA of $1.9 million in Q2 2025, and a decrease from an Adjusted EBITDA of $5.3 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)

 

Q3 2025

 

Q2 2025

 

Q3 2024

Revenue

$

35,389

 

$

35,185

 

$

40,286

 

Gross profit

 

15,582

 

 

16,152

 

 

18,084

 

Gross margin

 

44.0

%

 

45.9

%

 

44.9

%

Net loss

 

(12,545

)

 

(18,718

)

 

(11,642

)

Net loss per share

 

(0.00

)

 

(0.00

)

 

(0.00

)

Table 2: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA(1)

in thousands of US$ (unaudited)