| Summary of Reportable Segments |
The table below presents results by segment for the three months ended March 31, 2026 and 2025:
Reportable Segments
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
2026 |
|
2025 |
Revenues, net of discounts |
|
|
|
|
|
Established Region |
$ |
14,987 |
|
$ |
20,609 |
Emerging Region |
|
18,523 |
|
|
17,512 |
Total |
$ |
33,510 |
|
$ |
38,121 |
Gross profit |
|
|
|
|
|
Established Region |
$ |
7,509 |
|
$ |
11,317 |
Emerging Region |
|
8,412 |
|
|
7,561 |
Total |
$ |
15,921 |
|
$ |
18,878 |
Operating expenses: |
|
|
|
|
|
Selling, general and administrative expenses |
|
|
|
|
|
Established Region |
$ |
5,896 |
|
$ |
7,184 |
Emerging Region |
|
4,133 |
|
|
4,467 |
Other |
|
4,291 |
|
|
5,167 |
Total |
$ |
14,320 |
|
$ |
16,818 |
Depreciation and amortization |
|
|
|
|
|
Established Region |
$ |
2,517 |
|
$ |
2,765 |
Emerging Region |
|
1,480 |
|
|
1,342 |
Other |
|
112 |
|
|
112 |
Total |
$ |
4,109 |
|
$ |
4,219 |
Write-downs, (recoveries) and other charges, net |
|
|
|
|
|
Established Region |
$ |
50 |
|
$ |
(59) |
Emerging Region |
|
(267) |
|
|
(90) |
Total |
$ |
(217) |
|
$ |
(149) |
Income (loss) from operations |
|
|
|
|
|
Established Region |
$ |
(954) |
|
$ |
1,427 |
Emerging Region |
|
3,066 |
|
|
1,842 |
Other |
|
(4,403) |
|
|
(5,279) |
Total |
$ |
(2,291) |
|
$ |
(2,010) |
Other income (expenses), net |
|
|
|
|
|
Established Region |
$ |
118 |
|
$ |
31,434 |
Emerging Region |
|
(431) |
|
|
1,234 |
Other |
|
(4,710) |
|
|
(21,499) |
Total |
$ |
(5,023) |
|
$ |
11,169 |
Income tax (benefit) expense |
|
|
|
|
|
Established Region |
$ |
2,056 |
|
$ |
1,418 |
Emerging Region |
|
338 |
|
|
384 |
Other |
|
4,601 |
|
|
2,207 |
Total |
$ |
6,995 |
|
$ |
4,009 |
Net income (loss) |
|
|
|
|
|
Established Region |
$ |
(2,892) |
|
$ |
31,443 |
Emerging Region |
|
2,297 |
|
|
2,692 |
Other |
|
(13,714) |
|
|
(28,985) |
Total |
$ |
(14,309) |
|
$ |
5,150 |
|
|
|
|
|
|
Supplemental segment disclosures: |
|
|
|
|
|
|
Three Months Ended March 31, |
|
2026 |
|
2025 |
Purchase of property, plant and equipment |
|
|
|
|
|
Established Region |
$ |
1,383 |
|
$ |
1,294 |
Emerging Region |
|
2,005 |
|
|
3,232 |
Other |
|
4 |
|
|
250 |
Total |
$ |
3,392 |
|
$ |
4,776 |
Purchase of other intangible assets |
|
|
|
|
|
Established Region |
$ |
4 |
|
$ |
— |
Other |
|
43 |
|
|
126 |
Total |
$ |
47 |
|
$ |
126 |
|
|
|
|
|
|
|
As of March 31, |
|
As of December 31, |
|
|
2026 |
|
|
2025 |
Assets |
|
|
|
|
|
Established Region |
$ |
160,526 |
|
$ |
160,437 |
Emerging Region |
|
80,749 |
|
|
77,950 |
Other |
|
14,563 |
|
|
17,599 |
Total |
$ |
255,838 |
|
$ |
255,986 |
|
| Summary of Disaggregation of Revenue |
For the three months ended March 31, 2026 and 2025, the Company disaggregated its revenues as follows:
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
2026 |
|
2025 |
Revenues, net of discounts |
|
|
|
|
|
iAnthus branded products |
$ |
13,279 |
|
$ |
17,514 |
Third party branded products |
|
12,253 |
|
|
15,792 |
Wholesale/bulk/other products |
|
7,978 |
|
|
4,815 |
Total |
$ |
33,510 |
|
$ |
38,121 |
|