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iANTHUS Capital Holdings (ITHUF) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · iANTHUS Capital Holdings (ITHUF) Q2 2026 earnings results →
Q2 2026 Revenue up 0% year over year to $35.3M · 41¢ of every $1 of revenue lost · operating margin -6.4%
iANTHUS Capital Holdings made $35.3M in Q2 2026 (+0.5% Y/Y): Ianthus Branded Products $15.6M, Third Party Branded Products $11.6M, Wholesale Bulk Other Products $8.2M. Operating margin -6.4%, net loss $14.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
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What changed this quarter
Revenue was $35.3M in Q2 2026, roughly flat year over year and up 5% from the previous quarter. Ianthus Branded Products was the largest line at 44% of revenue. Wholesale Bulk Other Products added $1.7M year over year (up 26%), 1023% of the total change. Ianthus Branded Products declined 5%.
Gross margin was 45.5%, down 0.4 points from Q2 2025. Operating costs exceeded revenue by $2.3M, an operating margin of -6.4%. Operating expenses fell 15% while revenue was flat. The quarter ended with a net loss of $14.4M, wider than the previous quarter's $14.3M loss.
Operating cash flow was $761K (down 76% year over year). Non-cash charges added back $4.7M of depreciation and amortization and $522K of share-based compensation. Working capital and other items added $10.0M. Capital expenditures of $3.6M exceeded it, leaving free cash flow of −$2.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $35.3M | +0.5% | -6.4% | −$14.4M | $761K |
| Q1 2026 | 10-Q | May 12, 2026 | $33.5M | -12% | -6.8% | −$14.3M | $1.0M |
| Q4 2025 | 10-K | Mar 27, 2026 | $35.3M | -17% | -10.7% | −$14.1M | $2.0M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $35.4M | -12% | -12.0% | −$12.5M | −$5.1M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $35.2M | -18% | -15.3% | −$18.7M | $3.2M |
| Q1 2025 | 10-Q | May 12, 2025 | $38.1M | -8% | -5.3% | $5.2M | $3.1M |
| Q4 2024 | 10-K | Mar 24, 2025 | $42.7M | +4% | -4.8% | $27.8M | $1.9M |
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About iANTHUS Capital Holdings
We are a vertically-integrated, multi-state owner and operator of licensed cannabis cultivation, processing and dispensary facilities and a developer, producer and distributor of innovative branded cannabis products in the United States. Although we are committed to creating a national retail brand and portfolio of branded cannabis products recognized in the United States, cannabis currently remains illegal under U.S. federal law. Through our subsidiaries, we own and/or operate, as of December 31, 2025, 40 dispensaries and four cultivation and/or processing facilities in seven U.S. states.
In its own words, from its 10-K, filed Mar 27, 2026.
iANTHUS Capital Holdings against its Agricultural Production-Crops peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.5% against the peers' median +5%. Operating margin: -6.4% against the peers' median 5.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ITHUF iANTHUS Capital Holdings | Q2 2026 | $35.3M | +0.5% | -6.4% |
| CTVA Corteva | Q2 2026 | $6.4B | -1% | 24.7% |
| DOLE Dole | Q2 2026 | $2.5B | +3% | 1.9% |
| DMC Del Monte | Q3 2026 | $1.1B | +7% | 2.7% |
| GTBIF Green Thumb Industries | Q3 2026 | $324M | +11% | 7.7% |
| VRNO Verano Holdings | Q3 2026 | $212M | +5% | 5.6% |
| TSNDF TerrAscend | Q3 2026 | $68.2M | +5% | 15.1% |
| VFF Village Farms International | Q2 2026 | $64.0M | +7% | 17.4% |
| LMNR Limoneira | Q3 FY26 | $43.8M | -8% | -6.8% |
Source: iANTHUS Capital Holdings 10-Q on SEC EDGAR · CIK 1643154 · Agricultural Production-Crops
More on ITHUF
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
Compare ITHUF with
- iANTHUS Capital Holdings vs TerrAscend (ITHUF vs TSNDF)
- iANTHUS Capital Holdings vs Village Farms International (ITHUF vs VFF)
- iANTHUS Capital Holdings vs Limoneira (ITHUF vs LMNR)
- iANTHUS Capital Holdings vs Planet 13 Holdings (ITHUF vs PLNH)
- iANTHUS Capital Holdings vs Bloomia Holdings (ITHUF vs TULP)