---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-277507"
form_type: "8-K"
ticker: "ITHUF"
cik: "0001643154"
company_name: "iANTHUS CAPITAL HOLDINGS, INC."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:15:22.684585+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# iAnthus Q3 revenue falls 12% YoY to $35.4M; adjusted EBITDA halved to $2.5M

## Summary
- Revenue $35.4M, down $4.9M (-12%) from Q3 2024; gross profit $15.6M vs $18.1M; gross margin 44.0%.
- Net loss $12.5M ($0.00 EPS) vs net loss $11.6M in Q3 2024; sequential improvement from Q2 2025 loss of $18.7M.
- Adjusted EBITDA $2.5M, down 53% from $5.3M in Q3 2024; sequentially up from $1.9M in Q2 2025.
- Depreciation/amortization $4.6M, interest expense $3.7M, income tax expense $3.5M in Q3 2025.
- No guidance or forward-looking statements provided in the earnings release.

## SEC filing metadata
- accession: 0001193125-25-277507
- form_type: 8-K
- ticker: ITHUF
- cik: 0001643154
- company_name: iANTHUS CAPITAL HOLDINGS, INC.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1643154/000119312525277507/0001193125-25-277507-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1643154/000119312525277507/ithuf-20251112.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-277507
- JSON: https://secwatch.observer/filing/0001193125-25-277507.json
- Plain text: https://secwatch.observer/filing/0001193125-25-277507.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.