NEW YORK and TORONTO, March 27, 2026 (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 fourth quarter and year ended December 31, 2025. The Company's Annual Report on Form 10-K (the "Annual Report"), which includes its audited consolidated financial statements for the year ended December 31, 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.

Fiscal Year 2025 Financial Highlights

Revenue of $144.0 million, a decrease of 14.1% from the prior year.

Gross profit of $65.7 million, a decrease of 12.5% from the prior year.

Gross margin of 45.6%, reflecting an increase of 80 bps from the prior year.

Net loss of $40.2 million, or a net loss of less than $0.01 per share, compared to a net loss of $7.6 million, or a net loss of less than $0.00 per share in the prior year.

Adjusted EBITDA(1) of $13.0 million, down $10.9 million from 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.

Fourth Quarter 2025 Financial Highlights

Revenue of $35.3 million, a sequential decrease of $0.1 million from Q3 2025, and a decrease of $7.4 million from the same quarter in the prior year.

Gross profit of $15.1 million, a sequential decrease of $0.5 million from Q3 2025, and a decrease of $4.1 million from the same quarter in the prior year.

Gross margin of 42.7%, reflecting a sequential decrease of 128 bps from Q3 2025, and a decrease of 206 bps from the same quarter in the prior year.

Net loss of $14.1 million, or a net loss of less than $0.00 per share, compared to a net loss of $12.5 million, or a net loss of less than $0.00 per share in Q3 2025, and compared to a net income of $27.8 million, or a net income of less than $0.00 per share, in the same quarter in the prior year.

Adjusted EBITDA(1) of $5.4 million, a sequential increase from an Adjusted EBITDA of $2.5 million in Q3 2025, and a decrease from an Adjusted EBITDA of $6.4 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 (audited)

 

FY2025

 

FY2024

 

Q4 2025

 

Q4 2024

Revenue

$

143,986

 

$

167,567

 

$

35,290

 

$

42,718

 

Gross profit

 

65,697

 

 

75,114

 

 

15,085

 

 

19,139

 

Gross margin

 

45.6%

 

 

44.8%

 

 

42.7%

 

 

44.8%

 

Net income (loss)

 

(40,203)

 

 

(7,636)

 

 

(14,090)

 

 

27,793

 

Net income (loss) per share

 

(0.01)

 

 

(0.00)

 

 

(0.00)

 

 

0.00

 

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

 

 

in thousands of US$ (audited)

 

FY2025

 

FY2024

 

Q4 2025

 

Q4 2024

Net income (loss)

$