iAnthus FY22 Revenue Declines 19.6% To $163.2M, What About Net Loss?

iAnthus Capital Holdings, Inc. ITHUF IAN FY 2022 revenue was $163.2 million, down 19.6% from the prior year.

Q4 2022 Financial Highlights

• Revenue of $37.6 million, down 21.3% from the same quarter in the prior year.

• Gross profit of $16.1 million, down 28.3% from the same quarter in the prior year.

• Gross margin of 42.8%, reflecting a decrease of 4.2% from the same quarter in the prior year.

• Net loss of $43.7 million, or a loss of $0.01 per share, compared to a net loss of $26.9 million, or a loss of $0.16 per share, in the same quarter in the prior year.

• Adjusted EBITDA loss of $1.0 million, down from $40.3 million from the same quarter in the prior year.

2022 Financial Highlights

• Gross profit of $74.4 million, down 32.0% from the prior year.

• Gross margin of 45.6%, reflecting a decrease of 8.3% from the prior year.

• Net loss of $449.4 million, or a loss of $0.13 per share, compared to a loss of $77.5 million, or a loss of $0.45 per share, in the prior year.

• Adjusted EBITDA of $4.0 million, down from $36.2 million from the prior year.

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