Filing Flows › iANTHUS Capital Holdings (ITHUF) › Q1 2025
iANTHUS Capital Holdings (ITHUF) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
iANTHUS Capital Holdings (ITHUF) reported revenue of $38.1M for the first quarter 2025 (Q1 2025), -8% from a year earlier and -11% from the quarter before. Operating margin was -5.3%, net earnings $5.2M (13.5% of revenue).
iANTHUS Capital Holdings, Q1 2025: revenue $38.1M (-8% year over year), operating margin -5.3%, net earnings $5.2M, operating cash flow $3.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $38.1M | -11% | -8% |
| Operating profit | −$2.0M | — | — |
| Net earnings | $5.2M | -81% | — |
| Operating cash flow | $3.1M | +68% | +107% |
What changed
Revenue was $38.1M in Q1 2025, down 8% year over year and down 11% from the previous quarter. Ianthus Branded Products was the largest line at 46% of revenue. Ianthus Branded Products lost $3.7M year over year (down 17%), 107% of the total change.
Gross margin was 49.5%, up 8.1 points from a year earlier. Operating costs exceeded revenue by $2.0M, an operating margin of -5.3%. Operating expenses fell 6% while revenue fell 8%. Net earnings were $5.2M. The effective tax rate was 43.8%. Non-operating items added $11.2M, 122% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.1M (up 107% year over year), 61% of net earnings. Non-cash charges added back $4.7M of depreciation and amortization and $521K of share-based compensation. Working capital and other items used $7.3M. Capital expenditures of $4.8M exceeded it, leaving free cash flow of −$1.7M.
Questions
What was iANTHUS Capital Holdings' revenue in the first quarter 2025?
iANTHUS Capital Holdings (ITHUF) reported revenue of $38.1M for the first quarter 2025 (Q1 2025), -8% from a year earlier and -11% from the quarter before.
Was iANTHUS Capital Holdings profitable in the first quarter 2025?
Operating loss was $2.0M (-5.3% of revenue) and net earnings $5.2M.