ITHUF · Ianthus Capital Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.51M | - | $35.39M | $35.19M | $38.12M | - | $40.29M | $43.00M | $41.56M | - |
| Cost of Revenue | $17.59M | - | $19.81M | $19.03M | $19.24M | - | $22.20M | $22.31M | $24.36M | - |
| Gross Profit | $15.92M | - | $15.58M | $16.15M | $18.88M | - | $18.08M | $20.69M | $17.20M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $14.32M | - | $15.03M | $15.81M | $16.82M | - | $15.65M | $14.90M | $17.52M | - |
| Total Operating Expenses | $18.21M | - | $19.83M | $21.52M | $20.89M | - | $19.34M | $20.91M | $23.80M | - |
| D&A | $4.67M | - | - | - | $4.71M | - | $5.62M | $5.70M | $6.37M | - |
| Operating Income | ($2.29M) | - | ($4.25M) | ($5.37M) | ($2.01M) | - | ($1.26M) | ($225.0K) | ($6.60M) | - |
| Interest Expense | $4.14M | - | $4.14M | $4.07M | $4.21M | - | $4.35M | $4.24M | $4.15M | - |
| Income Tax | $7.00M | - | $3.47M | $4.13M | $4.01M | - | $5.64M | $6.92M | $2.72M | - |
| Net Income | ($14.31M) | - | ($12.54M) | ($18.72M) | $5.15M | - | ($11.64M) | ($9.79M) | ($14.00M) | - |
| EPS - Basic | $0.00 | - | $0.00 | $0.00 | $0.00 | - | $0.00 | $0.00 | $0.00 | - |
| EPS - Diluted | $0.00 | - | $0.00 | $0.00 | $0.00 | - | $0.00 | $0.00 | $0.00 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.21M | $11.87M | $17.93M | $23.94M | $25.06M | $19.10M | $20.86M | $16.94M | $13.73M | $13.18M |
| Accounts Receivable | $6.75M | $6.43M | $5.34M | $4.73M | $9.96M | $5.54M | $5.33M | $6.55M | $6.55M | $4.61M |
| Inventory | $24.55M | $22.25M | $21.18M | $21.78M | $19.32M | $22.47M | $23.60M | $25.39M | $24.76M | $25.38M |
| Accounts Payable | $16.71M | $16.27M | $10.21M | $14.48M | $11.24M | $12.83M | $14.44M | $15.40M | $14.45M | $14.40M |
| Current Assets | $50.00M | $48.73M | $52.79M | $58.04M | $63.02M | $74.64M | $54.64M | $52.43M | $49.16M | $45.51M |
| Total Assets | $255.84M | $255.99M | $255.95M | $268.68M | $272.53M | $271.04M | $271.18M | $272.43M | $273.78M | $277.41M |
| Current Liabilities | $71.88M | $68.51M | $70.56M | $79.17M | $77.83M | $75.29M | $86.06M | $119.47M | $128.66M | $125.43M |
| Long-term Debt | $198.73M | $193.99M | $180.72M | $175.90M | $171.22M | $182.26M | $177.53M | $172.88M | $168.36M | $165.22M |
| Total Liabilities | $372.69M | $359.03M | $345.55M | $346.59M | $332.15M | $336.58M | $364.83M | $354.87M | $347.15M | $339.07M |
| Stockholders' Equity | ($116.85M) | ($103.04M) | ($89.60M) | ($77.92M) | ($59.63M) | ($65.54M) | ($93.65M) | ($82.44M) | ($73.38M) | ($61.67M) |
| Retained Earnings | ($1.39B) | ($1.38B) | ($1.36B) | ($1.35B) | ($1.33B) | ($1.34B) | ($1.36B) | ($1.35B) | ($1.34B) | ($1.33B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.01M | - | - | - | $3.12M | - | - | - | $1.51M | - |
| Investing Cash Flow | ($1.61M) | - | - | - | $11.11M | - | - | - | ($894.0K) | - |
| Financing Cash Flow | ($62.0K) | - | - | - | ($8.26M) | - | - | - | ($60.0K) | - |
| CapEx | $2.04M | - | - | - | $4.78M | - | - | - | $878.0K | - |
| Free Cash Flow | ($1.03M) | - | - | - | ($1.66M) | - | - | - | $629.0K | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 47.5% | - | 44.0% | 45.9% | 49.5% | - | 44.9% | 48.1% | 41.4% | - |
| Operating margin | -6.8% | - | -12.0% | -15.3% | -5.3% | - | -3.1% | -0.5% | -15.9% | - |
| EBITDA margin | 7.1% | - | - | - | 7.1% | - | 10.8% | 12.7% | -0.5% | - |
| Net margin | -42.7% | - | -35.4% | -53.2% | 13.5% | - | -28.9% | -22.8% | -33.7% | - |
| Free cash flow margin | -3.1% | - | - | - | -4.3% | - | - | - | 1.5% | - |
| FCF / Net income | 0.07 | - | - | - | -0.32 | - | - | - | -0.04 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 42.7% | - | 42.5% | 44.9% | 44.1% | - | 38.8% | 34.7% | 42.1% | - |
| Effective tax rate | - | - | - | - | 43.8% | - | - | - | - | - |
| Return on assets | -5.6% | - | -4.9% | -7.0% | 1.9% | - | -4.3% | -3.6% | -5.1% | - |
| Return on equity | 12.2% | - | 14.0% | 24.0% | -8.6% | - | 12.4% | 11.9% | 19.1% | - |
| Return on invested capital | -2.2% | - | -3.7% | -4.3% | -1.0% | - | -1.2% | -0.2% | -5.5% | - |
| Liquidity | ||||||||||
| Current ratio | 0.70 | 0.71 | 0.75 | 0.73 | 0.81 | 0.99 | 0.63 | 0.44 | 0.38 | 0.36 |
| Quick ratio | 0.35 | 0.39 | 0.45 | 0.46 | 0.56 | 0.69 | 0.36 | 0.23 | 0.19 | 0.16 |
| Cash ratio | 0.16 | 0.17 | 0.25 | 0.30 | 0.32 | 0.25 | 0.24 | 0.14 | 0.11 | 0.11 |
| Leverage | ||||||||||
| Debt / Equity | -1.70 | -1.88 | -2.02 | -2.26 | -2.87 | -2.78 | -1.90 | -2.10 | -2.29 | -2.68 |
| Debt / Assets | 0.78 | 0.76 | 0.71 | 0.65 | 0.63 | 0.67 | 0.65 | 0.63 | 0.61 | 0.60 |
| Debt / EBITDA | 83.40 | - | - | - | 63.44 | - | 40.71 | 31.55 | - | - |
| Interest coverage | -0.6x | - | -1.0x | -1.3x | -0.5x | - | -0.3x | -0.1x | -1.6x | - |
| Equity multiplier | -2.19 | -2.48 | -2.86 | -3.45 | -4.57 | -4.14 | -2.90 | -3.30 | -3.73 | -4.50 |
| Liabilities / Assets | 1.46 | 1.40 | 1.35 | 1.29 | 1.22 | 1.24 | 1.35 | 1.30 | 1.27 | 1.22 |
| Efficiency | ||||||||||
| Asset turnover | 0.13 | - | 0.14 | 0.13 | 0.14 | - | 0.15 | 0.16 | 0.15 | - |
| Inventory turnover | 0.72 | - | 0.94 | 0.87 | 1.00 | - | 0.94 | 0.88 | 0.98 | - |
| Days sales outstanding | 74d | - | 55d | 49d | 95d | - | 48d | 56d | 58d | - |
| Days inventory outstanding | 510d | - | 390d | 418d | 366d | - | 388d | 415d | 371d | - |
| Days payable outstanding | 347d | - | 188d | 278d | 213d | - | 237d | 252d | 216d | - |
| Cash conversion cycle | 236d | - | 257d | 189d | 248d | - | 199d | 219d | 212d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 1.0x | - | 1.7x | 1.0x | 1.1x | - | 1.8x | 0.0x | 0.0x | - |
| EV / EBITDA | 93.3x | - | - | - | 69.1x | - | 52.4x | 28.5x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -12.1% | - | -12.2% | -18.2% | -8.3% | - | -6.1% | 11.1% | 13.1% | - |
| Revenue CAGR (3y) | -3.0% | - | -3.5% | -6.8% | -3.8% | - | -6.5% | -7.4% | 11.0% | - |
| Revenue CAGR (5y) | 1.9% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -15.7% | - | -13.8% | -21.9% | 9.7% | - | 3.8% | 12.5% | 10.9% | - |
| Operating income growth (YoY) | -14.0% | - | -238.0% | -2286.7% | 69.5% | - | 83.4% | 97.8% | 29.3% | - |
| Net income growth (YoY) | - | - | -7.8% | -91.2% | - | - | 25.2% | 51.4% | 24.7% | - |
| EPS growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 37.7% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -96.0% | -57.2% | 4.3% | 5.5% | 18.7% | -6.3% | -133.9% | -231.0% | -1061.4% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$143.99M totalEastern Region$133.60M · 92.8%
Western Region$10.38M · 7.2%
Product / service
$143.99M totalIanthus Branded Products$63.17M · 43.9%
Third Party Branded Products$55.13M · 38.3%
Wholesale Bulk Other Products$25.69M · 17.8%
Peer comparison
Same SIC group: Agricultural Production-Crops
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| FDP | $4.32B | 2.1% | 4.5% |
| CTVA | $17.40B | 6.3% | 4.5% |
| VRNO | $821.50M | -31.4% | -36.6% |
| CBSTF | - | - | - |
| GTII/GTBIF | $1.18B | 9.7% | 6.0% |
Comparing iANTHUS CAPITAL HOLDINGS against the 5 most active filers in the same SIC group.