NEW YORK and TORONTO, May 12, 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 first quarter ended March 31, 2026. The Company's Quarterly Report on Form 10-Q (the "Quarterly Report"), which includes its unaudited interim condensed consolidated financial statements for the three months ended March 31, 2026 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.

First Quarter 2026 Financial Highlights

Revenue of $33.5 million, a sequential decrease of $1.8 million from Q4 2025, and a decrease of $4.6 million from the same quarter in the prior year.

Gross profit of $15.9 million, a sequential increase of $0.8 million from Q4 2025, and a decrease of $3.0 million from the same quarter in the prior year.

Gross margin of 47.5%, reflecting a sequential increase of 477 bps from Q4 2025, and a decrease of 201 bps from the same quarter in the prior year.

Net loss of $14.3 million, or a net loss of less than $0.00 per share, compared to a net loss of $14.1 million, or a net loss of less than $0.00 per share in Q4 2025, and compared to a net income of $5.2 million, or a net income of less than $0.00 per share, in the same quarter in the prior year.

Adjusted EBITDA(1) of $3.4 million, a sequential decrease from an Adjusted EBITDA of $5.4 million in Q4 2025, and an increase from an Adjusted EBITDA of $3.2 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)

 

Q1 2026

 

Q4 2025

 

Q1 2025

Revenue

$

33,510

 

$

35,290

 

$

38,121

Gross profit

 

15,921

 

 

15,085

 

 

18,878

Gross margin

 

47.5%

 

 

42.7%

 

 

49.5%

Net income (loss)

 

(14,309

)

 

(14,090

)

 

5,150

Net income (loss) per share

 

(0.00

)

 

(0.00

)

 

0.00

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

 

 

in thousands of US$ (unaudited)

 

Q1 2026

 

Q4 2025

 

Q1 2025

Net income (loss)

$