100s of titles, one news app for just $10 a month.
Dive Deeper:
Zoned Properties Reports Revenue Growth Of 171.4% For Q1 2022, Here Are The Details
Zoned Properties, Inc. (OTCQB: ZDPY) released its financial results for the quarter ended March 31, 2022.
Leafly Holdings Reports Q1 2022 Financial Results, Total Revenue $11.4M, Up 21% From Q1 2021
Leafly Holdings, Inc. (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers announced its financial results…
MediPharm Labs Q1 Revenue Slightly Drops, Here Are The Details
MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) revenue decreased 11.24% to $4.88 million in Q1 2022 compared to $5.5…
Ascend Wellness Net Revenue Increased +28% YoY, Q1 2022 Financial Results And MedMen Settlement
Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator, on Wednesday, reported its financial results…
One subscription that gives you access to news from hundreds of sites
Aurora Cannabis Reports Fiscal 2022 Q3 Results, Net Revenue $50.4M
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a Canadian cannabis company, announced its financial and operational results late Thursday for the…
TerrAscend Reports First Quarter 2022 Financial Results, Net Sales Up To $49.7M
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), reported its financial results late Thursday for the first quarter ending March 31, 2022.
Get all your news in one place
Latest Business news:
Bitcoin Recovers After Longest Run of Weekly Losses Since 2011
Bitcoin recovered to trade just above the $30,000 level where it’s been mostly hovering since the collapse of the TerraUSD…
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
How to Make Money (or Even Get Rich) During a Stock Market Crash
A crash creates buying opportunities if you can develop the right mindset.
HSBC suspends head of responsible investing who called climate warnings ‘shrill’
Bank investigating Stuart Kirk’s conference speech deriding flooding risks and climate warnings from UN and Bank of England
Star chairman says casino needs cleansing
Star Entertainment executive chairman John O'Neill says extraordinary action was warranted to clean up the embattled casino operator.
After $5 Trillion Rout, Emerging Markets Seek Turnaround Signal
The wreckage of a $5 trillion rout in emerging markets is starting to look like a buying opportunity to some…
From analysis to good news, read the world’s best news in one place
New Zealand PM Ardern to visit U.S. to boost exports, lure tourists
New Zealand Prime Minister Jacinda Ardern will visit the United States this week in a bid to boost exports and…
Rod Sims says Facebook should be forced to negotiate with SBS under news media bargaining code
Despite dozens of deals to pay Australian news publishers for content, social media company has left out SBS and the…

iAnthus Reports 17% Drop In Revenue For Q1 2022, Here Are The Details

By Vuk Zdinjak

iAnthus Capital Holdings, Inc. (OTCPK:ITHUF) (CSE:IAN) reported its financial results for the first quarter ended March 31, 2022.

Q1 2022 Financial Highlights

  • Revenue of $42.8 million, a sequential decrease of 10% from Q4 2021 and a decrease of 17% from the same period in the prior year.

  • Gross profit of $22.5 million, relatively flat when compared to Q4 2021 and a decrease of 24% from the same period in the prior year.

  • Gross margin of 52.6%, reflecting a sequential increase of 560bps from Q4 2021 and a decrease of 480bps from the same period in the prior year.

  • Net loss of $10.1 million, or a loss of $0.06 per share, compared to a loss of $26.9 million or a loss of $0.16 per share in Q4 2021, and compared to a loss of $19.5 million, or a loss of $0.11 per share, in the same period in the prior year.

  • Adjusted EBITDA of $3.4 million, a sequential decrease from $8.2 million in Q4 2021 and decrease from $13.0 million from the same period in the prior year.

Management Changes

On May 4, 2022, the company announced the resignation of co-founder and interim CEO, Randy Maslow from his executive positions with the company, including all positions with the company's subsidiaries and its affiliates, and from the company's board of directors and committees, effective as of May 6, 2022. Maslow will continue to serve the company in a consulting role for a period of six months following the Resignation Date.

On May 6, 2022, the company appointed Robert Galvin as interim CEO and member of the board, effective as of May 6, 2022.

Opening of Atlantic City, New Jersey Dispensary

On May 5, 2022, the company opened its first dispensary in the state of New Jersey. The dispensary, which operates under the MPX NJ brand, is located in Atlantic City, New Jersey.

Related News

Cannabis Movers & Shakers: Curaleaf Names New CEO, iAnthus, High Tide & Root & Bloom Announce Appointments

iAnthus Names Robert Galvin Interim CEO & Board Member, Provides Business Update

iAnthus' Co-Founder Randy Maslow Resigns

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
Zoned Properties Reports Revenue Growth Of 171.4% For Q1 2022, Here Are The Details
Zoned Properties, Inc. (OTCQB: ZDPY) released its financial results for the quarter ended March 31, 2022.
Leafly Holdings Reports Q1 2022 Financial Results, Total Revenue $11.4M, Up 21% From Q1 2021
Leafly Holdings, Inc. (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers announced its financial results…
MediPharm Labs Q1 Revenue Slightly Drops, Here Are The Details
MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) revenue decreased 11.24% to $4.88 million in Q1 2022 compared to $5.5…
Ascend Wellness Net Revenue Increased +28% YoY, Q1 2022 Financial Results And MedMen Settlement
Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator, on Wednesday, reported its financial results…
One subscription that gives you access to news from hundreds of sites
Aurora Cannabis Reports Fiscal 2022 Q3 Results, Net Revenue $50.4M
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a Canadian cannabis company, announced its financial and operational results late Thursday for the…
TerrAscend Reports First Quarter 2022 Financial Results, Net Sales Up To $49.7M
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), reported its financial results late Thursday for the first quarter ending March 31, 2022.
Get all your news in one place