iAnthus Capital Holdings (IAN) AI Stock Analysis

• Market Cap: C$33.68M
• Dividend Yield: N/A
• Average Volume (3M): 241.88K
• Price to Earnings (P/E): 4.2
• Beta (1Y): -0.21
• Revenue Growth: 3.15%
• EPS Growth: N/A
• Country: CA
• Employees: 716
• Sector: Healthcare
• Sector Strength: 46
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): <0.01
• Shares Outstanding: 6,735,930,000
• 10 Day Avg. Volume: 189,135
• 30 Day Avg. Volume: 241,882
• PEG Ratio: <0.01
• Price to Book (P/B): 9.05
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.75
• Enterprise Value/Market Cap: 7.99
• Enterprise Value/Revenue: 0.40
• Enterprise Value/Gross Profit: 3.92
• Enterprise Value/Ebitda: 13.25
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 45 Neutral
• Price Target: ―

iAnthus Capital Holdings faces significant financial challenges, with persistent net losses and negative equity posing substantial risks. While there is improvement in cash flow, it remains insufficient to cover losses. Technical indicators are neutral, and valuation metrics are unfavorable due to negative earnings. The stock's stability provides some support, but profitability and balance sheet issues are critical concerns.

iAnthus Capital Holdings Business Overview & Revenue Model

Company Description

iAnthus Capital Holdings, Inc. is a multi-state operator in the cannabis industry, primarily focused on the cultivation, processing, and distribution of cannabis products in the United States. The company operates under various brand names and provides a wide range of products, including flowers, edibles, and concentrates, catering to both medical and recreational cannabis markets.

How the Company Makes Money

iAnthus Capital Holdings makes money through the sale of cannabis products across its network of dispensaries and cultivation facilities. The company generates revenue by growing and processing cannabis, which is then sold under its various brands in retail locations. Additionally, iAnthus benefits from wholesale distribution agreements, selling its products to other retailers. Strategic partnerships and acquisitions also play a significant role in expanding its market presence and revenue potential. The company's earnings are influenced by state regulations, consumer demand, and its ability to efficiently manage its supply chain and operational costs.

iAnthus Capital Holdings Financial Statement Overview

Summary

iAnthus Capital Holdings shows signs of improvement in revenue and cash flow generation; however, its profitability and balance sheet remain weak. Persistent net losses, negative equity, and the high level of debt pose significant risks. Continued focus on improving profitability and reducing leverage is essential for sustainable financial health.

Income Statement

The company has faced inconsistent revenue growth with a recent positive trend, up 5.22% from 2023 to 2024. However, profitability remains a challenge as reflected by the negative EBIT and net income margins. Despite an improvement in EBITDA margin, rising from negative to positive, the net profit margin remains negative, indicating ongoing profitability issues.

Balance Sheet

The balance sheet shows a concerning negative stockholders' equity, indicating potential financial distress. The debt-to-equity ratio is not meaningful due to negative equity. The equity ratio is also negative, reflecting a high level of liabilities relative to assets. This financial structure suggests significant leverage and potential risk.

Cash Flow

Cash flow analysis shows a positive shift in operating cash flow and free cash flow from 2023 to 2024, indicating improved cash generation. The free cash flow to net income ratio is positive, but the operating cash flow to net income ratio is low due to negative net income. While cash flows are improving, they are still insufficient to cover net losses.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	167.57M	159.24M	163.21M	203.02M	151.67M
Gross Profit	75.11M	63.17M	74.43M	111.28M	86.68M
EBITDA	21.22M	-13.30M	-369.80M	7.89M	-241.27M
Net Income	-7.64M	-76.62M	-449.39M	-76.25M	-310.03M
Balance Sheet
Total Assets	271.04M	277.41M	303.47M	346.74M	357.97M
Cash, Cash Equivalents and Short-Term Investments	18.54M	13.10M	14.34M	13.24M	11.02M
Total Debt	210.46M	201.00M	183.94M	228.54M	206.29M
Total Liabilities	336.58M	339.07M	292.48M	369.14M	307.13M
Stockholders Equity	-65.54M	-61.67M	10.99M	-22.40M	50.84M
Cash Flow
Free Cash Flow	7.03M	-3.06M	-26.55M	-4.25M	-27.33M
Operating Cash Flow	12.54M	3.02M	-19.50M	16.15M	-13.07M
Investing Cash Flow	-6.28M	-3.63M	-4.74M	-21.32M	-11.49M
Financing Cash Flow	-339.00K	-618.00K	22.06M	10.24M	1.26M

iAnthus Capital Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPIC	65 Neutral	$25.31M	15.03	6.18%	―	46.04%	―
DB	63 Neutral	$37.49M	2.98	20.78%	―	-15.44%	―
LABS	58 Neutral	$31.14M	―	-16.22%	―	16.24%	46.47%
AVCN	51 Neutral	$28.52M	―	-203.40%	―	14.82%	64.51%
Sector *	46 Neutral	C$189.62M	-4.26	-8.56%	3.09%	13.57%	-1.98%
IAN	45 Neutral	C$33.68M	4.17	61.65%	―	3.15%	―
AYR.A	41 Neutral	$18.10M	―	-74.75%	―	1.48%	-174.61%

iAnthus Capital Holdings Corporate Events

iAnthus Capital Holdings Shows Improved Margins Amid Revenue Decline in Q1 2025

iAnthus Capital Holdings reported a revenue of $38.1 million for Q1 2025, marking a decline from both the previous quarter and the same period last year. Despite the revenue drop, the company saw an improvement in gross margin and a net income of $5.1 million, indicating a positive shift from a net loss in the previous year, which could signal a strengthening position in the cannabis market.