iAnthus FY2022 revenue down 19.6% to $163.2M; net loss widens to $449.4M

iANTHUS CAPITAL HOLDINGS, INC.

Revenue $163.2M vs $203.0M in 2021; gross margin fell to 45.6% from 53.9%.
Net loss $449.4M ($0.13/share) vs $77.5M ($0.45/share) in 2021, driven by $316.6M debt extinguishment loss from recapitalization.
Adjusted EBITDA dropped to $4.0M from $36.2M in 2021; Q4 2022 adjusted EBITDA loss of $1.0M vs $6.4M gain in Q4 2021.
Q4 2022 revenue $37.6M, down 21.3% YoY; Q4 net loss $43.7M vs $26.9M in Q4 2021.
Recapitalization transaction closed June 24, 2022; share-based compensation of $28.6M from RSUs and options granted.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

iANTHUS CAPITAL HOLDINGS, INC. reported the fourth quarter and year-ended December 31, 2022 results: revenue $163.2 million, net income Net loss of $449.4 million, EPS a loss of $0.13 per share.

Period: the fourth quarter and year-ended December 31, 2022
Revenue: $163.2 million
Net income: Net loss of $449.4 million
EPS: a loss of $0.13 per share
Result: reported results

Exact text from the filing

are reported in accordance with U.S. generally accepted accounting principles (“GAAP”). All currency is expressed in U.S. dollars. 2022 Financial Highlights • Revenue of $163.2 million, down 19.6% from the prior year. • Gross profit of $74.4 million, down 32.0% from the prior year. • Gross margin of 45.6%, reflecting a decrease of 8.3% from the prior year. •

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Source: SEC EDGAR

accession 0001193125-23-084041

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