iAnthus Capital Holdings (IAN) AI Stock Analysis

iAnthus Capital Holdings

(CNQX:IAN)

Select Model

Rating:41Neutral

Price Target:CAD 0.01▲(0.00% Upside)

Action:reiterated

Date:08/19/26

The overall score is driven down primarily by stressed financials, including declining TTM revenue, persistent net losses, negative equity, high leverage, and renewed cash burn, which together indicate a high‑risk profile despite solid gross margins and modestly positive EBITDA. Secondary factors provide little offset, as the technical picture is unclear and tilted toward risk given the unusual beta and lack of momentum data, while a negative P/E and absence of dividend yield limit valuation support.

Positive Factors

Licensed Cannabis PlatformThe company has historically operated across multiple licensed cannabis activities, providing vertical capabilities from cultivation through retail. This platform can support product control and market access if restructuring restores operational continuity.

Negative Factors

Severe Revenue ContractionA sharp and sustained top-line decline weakens operating leverage, reduces the company’s ability to absorb fixed costs, and can erode market presence. Recovery would require renewed demand, stable operations, and successful execution across its regulated markets.

iAnthus Capital Holdings (IAN) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 27.90M
Dividend Yield: ―
Average Volume (3M): 98.67K
Price to Earnings (P/E): -0.5
Beta (1Y): -2.71
Revenue Growth: -11.58%
EPS Growth: -1950.00%
Country: Canada
Employees: 741
Sector: Healthcare
Sector Strength: 51
Industry: Drug Manufacturers - Specialty & Generic

iAnthus Capital Holdings Business Overview & Revenue Model

Company Description

iAnthus Capital Holdings, Inc. is a U.S.-based cannabis enterprise that holds licenses for and actively manages cannabis cultivation, processing, and retail dispensary operations. Its diverse product portfolio encompasses both cannabis and cannabidio...

How the Company Makes Money

null

iAnthus Capital Holdings Financial Statement Overview

Summary

Score reflects very weak financial health: TTM revenue has declined, sizable net losses persist despite meaningful sales, shareholders’ equity is deeply negative, leverage is high, and cash flows have reverted from briefly positive in 2024 back to operating and free‑cash‑flow burn, with decent gross margins and modestly positive EBITDA providing only limited offset.

Income Statement

32Negative

Balance Sheet

18Very Negative

Cash Flow

27Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	140.60M	146.51M	167.57M	159.24M	163.21M	203.02M
Gross Profit	34.35M	47.22M	75.11M	63.17M	74.43M	111.28M
EBITDA	-9.01M	5.04M	21.22M	-2.59M	-380.69M	7.96M
Net Income	-55.46M	-40.91M	-7.64M	-76.62M	-449.39M	-76.25M
Balance Sheet
Total Assets	258.00M	275.19M	271.04M	277.41M	303.47M	346.74M
Cash, Cash Equivalents and Short-Term Investments	8.26M	11.85M	18.54M	13.10M	14.34M	13.24M
Total Debt	238.68M	227.54M	210.46M	201.00M	183.94M	228.54M
Total Liabilities	388.54M	378.05M	336.58M	339.07M	292.48M	369.14M
Stockholders Equity	-130.54M	-102.85M	-65.54M	-61.67M	10.99M	-22.40M
Cash Flow
Free Cash Flow	-22.61M	-20.99M	7.03M	-3.06M	-26.55M	-4.25M
Operating Cash Flow	-1.33M	3.20M	12.54M	3.02M	-19.50M	16.15M
Investing Cash Flow	-10.43M	2.34M	-6.28M	-3.63M	-4.74M	-21.32M
Financing Cash Flow	-3.88M	-12.89M	-339.00K	-618.00K	22.06M	10.24M

iAnthus Capital Holdings Risk Analysis

iAnthus Capital Holdings disclosed 67 risk factors in its most recent earnings report. iAnthus Capital Holdings reported the most risks in the "Legal & Regulatory" category.

Legal & Regulatory - Litigation, compliance, new legislation, and taxation risks

Latest Risks Added

0 New Risks

iAnthus Capital Holdings Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

TSE:IAN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:GTII	73Outperform	CAD 1.90B	11.41	6.82%	―	3.81%	344.13%
TSE:CURA	59Neutral	CAD 3.12B	-60.28	-4.47%	―	1.50%	81.84%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TSE:VRNO	51Neutral	CAD 2.17B	-1.65	-28.93%	―	0.61%	37.92%
TSE:CL	45Neutral	CAD 365.32M	-1.89	-28.27%	―	-5.83%	-115.39%
TSE:IAN	41Neutral	CAD 34.87M	-0.49	50.32%	―	-11.58%	-1950.00%

* Healthcare Sector Average

Performance Comparison

TSE:IAN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:IAN	Ianthus Capital Holdings (OTC)	0.01	0.00	0.00%
TSE:CURA	Curaleaf Holdings (Otc)	11.77	0.04	0.34%
TSE:GTII	Green Thumb Industries (OTC)	8.70	-0.95	-9.84%
TSE:CL	Cresco Labs OTC	0.80	-0.83	-50.92%
TSE:VRNO	Verano Holdings Corp.	6.32	0.00	0.00%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 17, 2026

iAnthus Capital Holdings AI Stock Analysis