iAnthus Q3 Revenue Declines 20% YoY, What About Net Loss?

iAnthus Capital Holdings, Inc. ITHUF IAN Q3 2022 revenue was $39.4 million, a sequential decrease of 10% from Q2 2022 and a decrease of 20% from the same period in the prior year.

Q3 2022 Financial Highlights

• Gross profit of $16.2 million, a sequential decrease of 18% when compared to Q2 2022 and a decrease of 38% from the same period in the prior year.

• Gross margin of 41.1%, reflecting a sequential decrease of 4.1% from Q2 2022 and a decrease of 11.8% from the same period in the prior year.

• Net loss of $22.0 million, or a loss of $0.00 per share, compared to a loss of $373.6 million or a loss of $0.65 per share in Q2 2022, and a loss of $15.8 million, or a loss of $0.09 per share, in the same period in the prior year.

• Adjusted EBITDA loss of $307,000, a sequential decrease from $2.3 million in Q2 2022 and a decrease from $7.8 million from the same period in the prior year.

Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.

Photo by Jeff W on Unsplash

Related News

Eaze CEO Steps Down And Other Marijuana Players That Making Key Exec Changes You Should Know About

iAnthus Reports Losses, Q2 Revenue Drops 20% YoY

iAnthus Secures Additional Financing And Makes Changes To Its Board Of Directors