iAnthus Capital Holdings, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets and Goodwill

Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 8 – Intangible Assets and Goodwill


	As of December 31, 2025
	Cost		Accumulated Amortization		Net Book Value
Licenses	$	114,418	$	52,184	$	62,234
Trademarks		15,801		11,643		4,158
Other		3,862		2,778		1,084
	$	134,081	$	66,605	$	67,476


	As of December 31, 2024
	Cost		Accumulated Amortization		Net Book Value
Licenses	$	114,418	$	44,550	$	69,868
Trademarks		11,111		9,451		1,660
Other		3,726		2,392		1,334
	$	129,255	$	56,393	$	72,862

During the year ended December 31, 2025, the Company recorded $4.8 million in intangible asset additions (December 31, 2024—$0.2 million), which is primarily attributable to the Cheetah acquisition and other internal-use software. The weighted average remaining amortization period for these additions is 12 years as of December 31, 2025.

Amortization expense for the years ended December 31, 2025 and 2024 was $10.2 million and $13.9 million, respectively.

The estimated amortization expense for each of the years ended December 31, as follows:


2026	$	8,697
2027		8,625
2028		8,599
2029		8,238
2030		8,238
Thereafter		25,081

The following table summarizes the balances of goodwill as of December 31, 2025 and 2024:


	As of December 31,
	2025			2024
Balance, beginning of year	$	6,148		$	—
Acquisition of Cheetah		—			6,148
Reclassification - Cheetah intangible assets		(4,590	)		—
Impairment loss		—			—
Total	$	1,558		$	6,148