Filing Flows › iANTHUS Capital Holdings (ITHUF) › Q2 2025
iANTHUS Capital Holdings (ITHUF) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 12, 2025
iANTHUS Capital Holdings (ITHUF) reported revenue of $35.2M for the second quarter 2025 (Q2 2025), -18% from a year earlier and -8% from the quarter before. Operating margin was -15.3%, net loss $18.7M (53.2% of revenue).
iANTHUS Capital Holdings, Q2 2025: revenue $35.2M (-18% year over year), operating margin -15.3%, net loss $18.7M, operating cash flow $3.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.2M | -8% | -18% |
| Operating profit | −$5.4M | — | — |
| Net earnings | −$18.7M | -463% | — |
| Operating cash flow | $3.2M | +1% | -28% |
What changed
Revenue was $35.2M in Q2 2025, down 18% year over year and down 8% from the previous quarter. Ianthus Branded Products was the largest line at 47% of revenue. Third Party Branded Products lost $5.2M year over year (down 30%), 66% of the total change.
Gross margin was 45.9%, down 2.2 points from a year earlier. Operating costs exceeded revenue by $5.4M, an operating margin of -15.3%. Operating expenses grew 3% against a revenue fall of 18%. The quarter ended with a net loss of $18.7M, after a profit of $5.2M the previous quarter.
Operating cash flow was $3.2M (down 28% year over year). Non-cash charges added back $4.6M of depreciation and amortization and $544K of share-based compensation. Working capital and other items added $16.7M. Capital expenditures of $3.6M exceeded it, leaving free cash flow of −$453K.
Questions
What was iANTHUS Capital Holdings' revenue in the second quarter 2025?
iANTHUS Capital Holdings (ITHUF) reported revenue of $35.2M for the second quarter 2025 (Q2 2025), -18% from a year earlier and -8% from the quarter before.
Was iANTHUS Capital Holdings profitable in the second quarter 2025?
Operating loss was $5.4M (-15.3% of revenue) and net loss $18.7M.