iAnthus Q4 Revenue Increases 4% YoY To $47.7M, Cuts Net Loss In 2021

iAnthus Capital Holdings, Inc. IAN ITHUF reported its financial results for the fourth quarter and year-ended December 31, 2021.

Q4 2021 Financial Highlights

• Revenue totaled $47.7 million, up 4% from the same quarter in the prior year.
• Gross profit was $24.2 million, up 8% from the same quarter in the prior year.
• Gross margin of 50.7%, reflecting an increase of 2.0% from the same quarter in the prior year.
• Net loss of $25.7 million, or a loss of $0.15 per share, compared to a loss of $26.7 million, or a loss of $0.16 per share, in the same quarter in the prior year.
• Adjusted EBITDA, non-GAAP measure, came in positive at $8.2 million, up from $5.2 million from the same quarter in the prior year.

Full-Year 2021 Financial Highlights

• Revenue was $203 million, up 34% from the prior year.
• Gross profit totaled $111.3 million, up 36% from the prior year.
• Gross margin was 54.8%, reflecting an increase of 0.8% from the prior year.
• Net loss amounted to $76.2 million, or a loss of $0.44 per share, compared to a loss of $313.4 million, or a loss of $1.83 per share, in the prior year.
• Adjusted EBITDA came in negative at $42.1 million, up from $8.7 million from the prior year.

In the meantime, the New Jersey cannabis regulatory commission approved iAnthus New Jersey, LLC’s acquisition of 100% of the equity interests of New Jersey license holder MPX New Jersey, LLC. On February 1, 2022, the company closed on its acquisition of MPX NJ.

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